Originally Posted by
evince
https://en.wikipedia.org/wiki/Fred_T..._investigation
Profiteering investigation
In 1954, Trump was investigated by a U.S. Senate committee for profiteering from public contracts, including overstating his Beach Haven building charges by $3.7 million.[4] In testimony before the Senate Banking Committee in 1954, William F. McKenna, appointed to investigate "scandals" within the FHA, cited Fred C. Trump and his partner William Tomasello as examples of how profits were made by builders using the FHA.[31]:409 McKenna said the two paid $34,200 for a piece of land which they rented to their corporation for $76,960 per year in a 99-year lease, so that if the apartment they built on it ever defaulted, the FHA would owe them $1.924 million. McKenna said that Trump and Tomasello obtained loans for $3.5 million more than the apartments cost.[31]:58 The following month, Trump testified before the Senate Banking Committee that due to rising costs, he would have had to invest more than the 10% of the loan not provided by the FHA, and therefore suffer a loss if he built under those conditions.[31]:414–5
Wow.. What a crooked family they are.
He who is the author of a war lets loose the whole contagion of hell and opens a vein that bleeds a nation to death. Thomas Paine
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