A Scottish judge could decide this week whether con man and malignant demagogue Donald "Loser" Trump will have to explain how he came up with $60 million in 2014 to buy the Turnberry golf resort. The judge will determine whether a the Scottish government can pursue Trump under new anti-money laundering regulations, according to a Daily Beast report:
"The purchase aroused suspicion because the all-cash deal was part of a multi-million dollar spending spree on three golf courses in the British Isles—at a time when his 10 percent stake in the casino business bearing his name, Trump Entertainment Resorts, was in peril as the company was filing for bankruptcy."
A thorough investigation by the Scottish government into Trump's shady sources of financing may be an additional guide to his financial activities. Trump has essentially been shut off from U.S. sources of financing after decades of bankruptcies made his business a bad lending risk. He's relied on foreign money provided by such organizations as Deutsche Bank for capital. According to the Daily Beast article, Turnberry has been a financial sink hole ever since Trump took it over:
Golf Recreation Scotland Limited, which runs the operation, has suffered millions of dollars in losses every single year in operation since Trump acquired the property, according to its publicly available corporate statements filed in the United Kingdom.
In fact, the golf course has posted “financial year” losses totaling £46 million from 2014 until 2019—$63 million in today’s U.S. dollars—roughly the same Trump paid for it in the first place.
As the Scottish legislator Colin Smyth put it during a parliament meeting earlier this year: “He has been an absentee owner of Trump Turnberry since he bought it, and with the financial losses being made year-on-year, the Trump Organization has been as successful at running the resort as the founder was at being President.” (our emphasis)
Well played, Mr. Smyth. We have a good feeling that this won't end well for the disgraced "former guy." Sad!
