New Book Reveals Donald Trump’s Business Practices Include Payment With Gold Bullion

New Book Reveals Donald Trump’s Business Practices Include Payment With Gold Bullion

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(WABNEWS) — Former President Donald Trump’s business practices included some surprising moments, like once he was paid with gold bullion that was brought into his Trump Tower apartment, according to information obtained by WABNEWS from an upcoming book by The New York Times journalist Maggie Haberman.

Haberman reveals new details about Trump’s dealings in New York real estate and beyond, from a veiled threat to a magazine owner preparing to report on his inflated net worth to an acknowledgment that his deals had to interact times with the mob, according to the report obtained by WABNEWS.

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Meanwhile, other Trump business practices are coming under renewed and intense scrutiny in the wake of the New York attorney general’s sweeping lawsuit against Trump, some of his children and his company, alleging dozens of fraudulent financial activities that the former president used to enrich himself.

In a striking episode, Haberman writes that Trump occasionally received portions of lease payments in cash, including when a tenant once sent Trump a box of dozens of gold bricks to cover the cash portion of the building’s parking lease. of General Motors in Manhattan, which Trump bought in 1998.

Trump told his aides that he didn’t know what to do with the gold bullion, according to Haberman. In the end, he asked Matt Calamari, a former security guard turned chief operating officer of the Trump Organization, to deliver the bullion to his Trump Tower apartment. It is unclear what happened to the gold bricks. An attorney for Calamari declined to comment, and Haberman writes that Trump called it “a matter of fantasy.”

Haberman’s book, “Confidence Man: The Making of Donald Trump and the Breaking of America,” is due out Oct. 4. It includes an examination of Trump’s trajectory in the New York business world, as well as his presidency and the fallout from his 2020 loss to Joe Biden.

Haberman, a political analyst for WABNEWS, is a longtime New York-based reporter who has worked for the city’s two tabloids, covering the 2016 and 2020 Trump campaigns and the Trump White House for The New York. Times.

Haberman writes that Trump’s financial situation at his company was often more precarious than people realized, according to former officials.

At one point, Trump is said to have borrowed several million dollars from Trump Organization executive George Ross, according to Haberman. Ross acknowledged to the author that he lent Trump money, but insisted it was to “cover a situation that was resolved very quickly” and not for payroll expenses.

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In another episode, Haberman writes that Donald Trump is said to have threatened to go public with rumors that Malcolm Forbes, the late owner of Forbes magazine, was gay, as the magazine was preparing to report that Trump’s net worth was much lower than publicly stated.

Haberman writes that Trump Organization officials operated in silos, often unaware of what was going on in other parts of the business.

When Trump’s hotel and casino company was reprimanded by the Securities and Exchange Commission for a misleading earnings statement, Haberman writes that Trump was more involved than the company let on.

Trump’s attorney at the time, Jay Goldberg, blamed company officials for the misleading projections in 1999 and insisted that Trump was not involved, Haberman writes. News stories at the time of the SEC action three years later also claimed that Trump had no role in the financial statement that overstated the company’s earnings.

But Haberman reports that a former company consultant, Alan Marcus, said Trump personally marked up a draft of the statement in question and made existing projections more rosy.

Trump denied that version, according to Haberman.

In an interview with Haberman, Donald Trump acknowledged that his dealings in New York City meant he sometimes had to interact with the mob, though he downplayed his knowledge.

“Well, anyone who built in New York City, whether you were dealing with them indirectly, or you didn’t even know they existed, they existed,” Trump said. “Well, you tried, you had contractors and you don’t know if they were mob controlled or maybe they weren’t controlled, but I’ll tell you that getting offers is sometimes very difficult. You got an offer, it was a very disappointing offer. And then no there was no one else to bid.”

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