Former employees at one of Trump's golf resorts claim that the Trump Organization committed insurance fraud by over-inflating the value of damage after a flood a decade ago. In fact, the company had submitted a larger claim that had been rejected before submitting what the insiders say was a still-inflated number. On top of that, the employees say that the repairs were never done, meaning the company may have just pocketed the money. Farron Cousins discusses this.
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*This transcript was auto-generated. Please excuse any typos.
A new report from rolling stone this past week, where they spoke with two insiders from the Trump organization, these insiders claim that the Trump organization engaged in insurance fraud with their golf resort up in Westchester, New York. Now that golf club by the way, is already under criminal investigation by the Westchester district attorney. And they're being sued by a different entity in the county, uh, alleging that the property management, you know, the, uh, things they've done to change the property. They're at the Westchester Chester, golfers, or resorted in a flood that destroyed the other person's property. And it's the flood by the way that these former employees say the alleged insurance fraud happened as a result of, so here's what happened back in 2011. This is when this happened. Uh, you had a big flood in the area, Donald Trump's golf resort got flooded, and obviously the other adjacent property got flooded and they're blaming Trump for that.
Um, so they submit a claim to the insurance company for the damages of the flood. The insurance company comes back and says, yeah, this is ridiculous. This is an insane amount of money. There is no way you're getting this. So Trump folks adjusted a little bit say, okay, what about 1.3 million for our damages here, we give us 1.3 million. And the insurance company says, okay, sure. You get 1.3 million. Well, according to the employees, the cost of the repairs that needed to happen was between 130 and $150,000. Those were the actual damages, 130 to $150,000. They got 1.3 million. And even though they got, you know, what, roughly 10 times the amount of the damages the employees say, they really didn't do the repairs they were supposed to. They said they just kinda put band-aids on it. And I guess from that point, they, they, what pocketed the money.
So just to recap, former employees alleged, they overinflated the damages, got paid from the insurance after being denied once. Cause they overinflated too much. Right. You know, when a little too big, they get paid the 1.3 million, then they don't even spend it to make the repairs that were necessary. That seems a little fraudy to me. Right? I mean just reading it, just thinking about it. Yeah. That, that kind of seems not right, but it is what it is. This is not yet under investigation. Again, the Westchester course is under investigation for, you know, changing the values of the property with regard to, uh, paying their taxes. But so far the insurance thing, this is a new accusation. There is no investigation currently into it and therefore, no charges, no nothing. It's just a thing that these people say happened. That's now floating out there in the ether.
And I don't know what the New York state statute of limitations is on insurance fraud, but it's been 10 years since this happened. So if there is a statute of limitations, you probably already passed it. But if there isn't, this could be grounds for an investigation, find out what happened. Talk to these former employees, hell go inspect the property you have in your insurance report, what they reported the damage was that's one thing you have to do. And I'm sure they had an adjuster come out and probably take some pictures. So compare that to what it looks like. Now, see if the repairs were made, you can always tell when things have been repaired and when they've just basically had a bandaid on them, you look for things like rust, decay, mold, anything that would indicate that a problem existed long ago that was not addressed, not that difficult to do, but again, an investigation has to be opened in order for any of that to happen. And because this story really is just a couple days old time is going to have to see if an investigation even gets opened because these are some pretty serious allegations from these former Trump organization insiders.
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