Aspen Claims Service

Trump Took $17M In Insurance For Damage Few Remember

 Wednesday, October 26, 2016

 ABC News

Donald Trump said he received a $17 million insurance payment in 2005 for hurricane damage to Mar-a-Lago, his private club in Palm Beach, but The Associated Press found little evidence of such large-scale damage. Two years after a series of storms, the real estate tycoon said he didn’t know how much had been spent on repairs but acknowledged he pocketed some of the money. Trump transferred funds into his personal accounts, saying that under the terms of his policy, "you didn’t have to reinvest it." In a deposition in an unrelated civil lawsuit, Trump said he got the cash from a "very good insurance policy" and cited ongoing work to the historic home.
PropertyFraudRisk Management
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