Trump took $17 million in insurance for damage few remember

[webfact]

Trump took $17 million in insurance for damage few remember

By JEFF HORWITZ and TERRY SPENCER

 

PALM BEACH, Fla. (AP) — 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.

 

"Landscaping, roofing, walls, painting, leaks, artwork in the — you know, the great tapestries, tiles, Spanish tiles, the beach, the erosion," he said of the storm damage. "It's still not what it was."

 

Trump's description of extensive damage does not match those of Mar-a-Lago members and even Trump loyalists. In an interview about the estate's history, Trump's longtime former butler, Anthony Senecal, recalled no catastrophic damage. He said Hurricane Wilma, the last of a string of storms that barreled through in 2004 and 2005, flattened trees behind Mar-a-Lago, but the house itself only lost some roof tiles.

"That house has never been seriously damaged," said Senecal, discussing Mar-a-Lago's luck with hurricanes. "I was there for all of them."

 

Just over two weeks after Wilma, Trump hosted 370 guests at Mar-a-Lago for the wedding of his son Donald Jr.

 

While part of that celebration did have to be moved away from the front lawn due to hurricane damage, wedding photographs by Getty Images showed the house, pools, cabanas and landscaping in good repair.

 

Valuations for Mar-a-Lago are subjective, but Forbes estimated the 110,000-square-foot property's value at $150 million in its most recent appraisal of Trump's net worth. The estate's historic nature would add to any repair costs, but Tim Frank, Palm Beach's planning administrator at the time of the hurricanes, said $17 million in work would have required "dozens, maybe scores of workers." In 2004, Trump built a 20,000-square-foot ballroom from scratch for less than $6 million, according to building permits.

 

Palm Beach building department records show no permits for construction on that scale after the storms. Permits reflected smaller projects, including installation of new grease traps in the kitchen and tree trimming along the road. The only permits that appeared hurricane-related were for $3,000 in repairs to storm-damaged outdoor lighting and the vacuuming of sand from the property's beachfront pool. Likewise, records of the city's Landmarks and Preservation Commission reflected no repair work conducted following the 2004 and 2005 hurricane seasons.

 

The $17 million Mar-a-Lago insurance payment surfaced during a 2007 deposition in Trump's unsuccessful libel lawsuit against journalist Tim O'Brien, whom Trump accused of underestimating his wealth. As part of the case, O'Brien's attorneys were permitted to review Trump's financial records, including some from the Mar-a-Lago Club. They asked Trump to quantify the damage and explain why he had pocketed money instead of spending it on repairs.

 

Trump said repairs were ongoing, but acknowledged he could not remember which hurricane had damaged Mar-a-Lago or when it hit.

 

"We continue to spend the money because we continue to suffer the ravages of that hurricane," Trump said. "We're continuously spending money. It really beat up Mar-a-Lago very badly."

 

The insurance adjustor who assessed the insurance claim, Hank Stein of VeriClaim Inc., said there had been damage to Trump's golf course in West Palm Beach and damage to Mar-a-Lago's roof and landscaping, but he could not remember details. Trump declined to provide the AP with records about the insurance claim or answer specific questions about damage at Mar-a-Lago.

 

Stein, who has since left VeriClaim for another firm, said he remembered water damage from rain after windows to an observation deck atop the mansion blew open. "I wish I could give you some more information on the breakdown," he said.

 

Under local rules, major repairs would have required Trump to request a permit and pay permit fees. If such work were performed without permits, that could have avoided as much as $450,000 in fees but would have likely been illegal.

 

The city's former planning administrator said getting away with such extensive, unpermitted work would have been unlikely. Frank cited both his own agency's vigilance and wealthy Palm Beach residents' habit of calling out each other's code violations. Once, Trump's neighbors hired lawyers to report suspicions that he improperly let guests sleep in poolside cabanas during a wedding.

 

"If there were $17 million dollars of damage, we sure as hell would have known about that," said Frank. "I would have known if there was anything in the magnitude of $100,000."

 

The Republican mayor of Palm Beach at the time — and Mar-a-Lago member — Jack McDonald, agreed: "I am unable to comprehend $17 million in reimbursable damage."

 

Jane Day, the city's former historical preservation consultant, who helped oversee Mar-a-Lago's conversion to a private club and who has visited in the years since as a guest, also was mystified. "This is the first I'm hearing of it."

 

Frank said the commission would have granted immediate approval to simple repairs, but Trump or his contractors would still have needed to file for permits.

 

"If they changed the door knobs I was supposed to review it," Frank said.

 

Much of Trump's property insurance business has long been handled by Pamela Newman, a leading insurance broker for Aon Risk Services Inc. Neither Newman nor AON would discuss the case with AP.

 

Two former Aon employees familiar with the company's work for Trump said Trump's company was routinely late on insurance premium payments and regularly threatened to take its business elsewhere. They spoke on condition of anonymity to discuss confidential business matters and because they feared retribution since they continue to work in the insurance industry. Representing Trump allowed Newman to bring up her work on behalf of Trump in sales pitches to wealthy clients, sometimes offering him as a reference, the employees said.

 

Newman's ties to Trump have endured. He and she both sit on the board of New York's Police Athletic League. She has attended galas at Mar-a-Lago and donated the legal maximum of $2,700 to his presidential exploratory committee before he announced his run. She followed up last July with $25,000 in donations to the Make America Great Again PAC, according to Federal Election Commission records.

 

According to the Trump deposition, Newman led the effort to obtain a payout on the Mar-a-Lago insurance policy. Trump did not identify which insurer actually footed the bill and the AP was unable to identify who paid the claim.

 

Documenting an insurance claim as large as the one that Trump made on Mar-a-Lago typically involves extensive verification of the damage. Stein said the process went smoothly and that he worked closely with both Newman and a senior Trump executive, Matt Calamari.

 

"It would have been myself along with an adjustment team," he said. "It was a thorough investigation."

 

In the depositions, Trump said he knew little about that process that produced his $17 million payday, but praised the policy and said Newman took care of it.

 

"We had a very good insurance policy, actually," he said.

___

Associated Press reporters Jake Pearson in New York and Kelli Kennedy in Miami contributed to this reporting.

 

-- © Associated Press 2016-10-25

[Andaman Al]

Wow!

 

Trump should have stayed in his own little world. Much of what would have remained uncovered will now come to the surface, and much of what is appearing has the potential to be federal crimes. His house of crds is going to tumble - then he will blame it on Hillary! He is going to need that TV Station for income soon, I wonder if he can run it from behind bars. If anyone is looking likely to go to prison it is Trump.

[Chicog]

Didn't he take a share of the New York relief fund as well?

Rubio was right. If he hadn't got millions from his old man, he'd be flogging fake watches in Times Square.

 

 

[Silurian]

DT and his supporters will just call this "smart" business and how it shows his business acumen. Seems like the insurance company failed on this one for lack of assessing the damage.

[ALLSEEINGEYE]

It is very clear who the REAL crook is here.

Amazing that this con man can go around and call others crooks.

He steals from his own charity (that even he hasn't contributed to for almost a decade), why wouldn't he steal from an insurance company too?

He steals from small and medium sized business contractors that make the mistake of doing work for him.

The man is as big a thief and con man as there has EVER been, he is a tremendous thief, no one is a better thief and con man then you Donald!!

He didn't complain when he was getting all the free press but now he will just whine about it and blame it on Hillary or the corrupt press. 

You live by the sword, now you can die by it too.

With almost every politicians against him, I am willing to bet that Donald will have a massive downward spiral from here on in and might even end up in jail.

For the few pathetic politicians that were stupid enough to stand by him, your careers are over. Good riddance Giuliani, you blood sucker!!

 

[realenglish1]

Another hit job On a 17 million dollar claim you can be assured the insurance company is going to look sideways on it

Posters like ALLSEEINGEYES  believes  the press I can see he has never owned a business before and

Trumps properties are private holdings not a public company so any financial speculation is just that SPECULATION

not fact

[d2b2]

His worth will remain speculation as he continues to hide his tax returns. Unlike every presidential candidate for the last 40 years he lies and says he can't release his tax filings. Donald Trump can not afford any review of his business failings and his fraudulent behavior by the public that a tax filing release would reveal. He is a shuckster and a  blowhard con man. He is a very sad little man. 

 

 

Edited October 25, 2016 by Scott

[elgordo38]

4 hours ago, webfact said:

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.

Somewhere the Donald had to have inside help to pull this off. I think the insurance company should do a fraud investigation but because of the Donald's position they will more than likely eat the loss. Its the way the system works. 

[realenglish1]

12 minutes ago, d2b2 said:

His worth will remain speculation as he continues to hide his tax returns. Unlike every presidential candidate for the last 40 years he lies and says he can't release his tax filings. Donald Drumpf can not afford any review of his business failings and his fraudulent behavior by the public that a tax filing release would reveal. He is a shuckster and a  blowhard con man. He is a very sad little man. 

 

 

Tax returns tell you nothing except how much tax you paid and your charitable donations. That is it It will not tell about any business dealings or Fraudulent behavior since he has been audited every year the Tax Department allowed his deductions You are buying into the democrats bull  I don't understand how he is a hucksters or blowhard since he has made billions legally and certainly far bigger than you are . His taxes will reveal very little but continue believing in the Democrats garbage and lies I see you  do not think for yourself

[kamahele]

1 minute ago, realenglish1 said:

Tax returns tell you nothing except how much tax you paid and your charitable donations. That is it It will not tell about any business dealings or Fraudulent behavior since he has been audited every year the Tax Department allowed his deductions You are buying into the democrats bull  I don't understand how he is a hucksters or blowhard since he has made billions legally and certainly far bigger than you are . His taxes will reveal very little but continue believing in the Democrats garbage and lies I see you  do not think for yourself

Yes, that is what the voters are entitled to see. How much he has paid in taxes and how much he has donated to charity. He has boasted continuously over the years about how much he was going to give to charity but it seems he has given very little compared with others in his tax bracket. You will reply "prove it" and I will say that we need his tax returns. His competitor has 30 years of her returns online for viewing. He has none.

[kamahele]

1 hour ago, realenglish1 said:

Another hit job On a 17 million dollar claim you can be assured the insurance company is going to look sideways on it

Posters like ALLSEEINGEYES  believes  the press I can see he has never owned a business before and

Trumps properties are private holdings not a public company so any financial speculation is just that SPECULATION

not fact

Actually it isn't really speculation. He didn't apply for the work permits to get the work done legally so either the work was done illegally or it  was a false claim that the insurance company looked sideways at to keep the business at his other properties.

[Andaman Al]

5 hours ago, webfact said:

In an interview about the estate's history, Trump's longtime former butler, Anthony Senecal, recalled no catastrophic damage. He said Hurricane Wilma, the last of a string of storms that barreled through in 2004 and 2005, flattened trees behind Mar-a-Lago, but the house itself only lost some roof tiles.

"That house has never been seriously damaged," said Senecal, discussing Mar-a-Lago's luck with hurricanes. "I was there for all of them."

 

Ah! 'What the Butler saw'! Now if somebody was willing to slip Mr Senecal 5 Mill USD I am sure Trump would be locked up and the key thrown away.

[dunroaming]

5 hours ago, Andaman Al said:

Trump should have stayed in his own little world.

 

Never a truer word.  Trump will rue the day he ever stepped into the political spotlight.  Day by day he is being exposed as the moron he really is.

[Andaman Al]

5 minutes ago, dunroaming said:

 

Never a truer word.  Trump will rue the day he ever stepped into the political spotlight.  Day by day he is being exposed as the moron he really is.

The interesting thing may be the consequence of him exposing not just himself as a moron, but the morons that constitute 40% of the US electorate.

 

[joecoolfrog]

But but but I dont like Hilary...

[White Christmas13]

‘He was getting laid like crazy’

More to come 

 

 

http://www.news.com.au/finance/work/leaders/shocking-claims-of-donald-trumps-wild-parties/news-story/0aaa8e7f60083d6d91c24ae346ea0e15

 

Good night Donald

Edited October 25, 2016 by Scott

[ilostmypassword]

2 hours ago, realenglish1 said:

Tax returns tell you nothing except how much tax you paid and your charitable donations. That is it It will not tell about any business dealings or Fraudulent behavior since he has been audited every year the Tax Department allowed his deductions You are buying into the democrats bull  I don't understand how he is a hucksters or blowhard since he has made billions legally and certainly far bigger than you are . His taxes will reveal very little but continue believing in the Democrats garbage and lies I see you  do not think for yourself

How do you know he's made billions? Have you seen his tax returns. We know he bankrupted the hugely successful business his father left him.  We know he got snookered into paying way too much for his Atlantic City Casino properties. We know that even in the few good years that his Atlantic city Casinos had, his business was much less profitable than those of his competitors.  We know he got snookered into buying too big a fleet and paying too high a price for his airline that went bankrupt. We know that banks refused to lend to him because he was considered a bad credit risk.

[dunroaming]

1 hour ago, Andaman Al said:

The interesting thing may be the consequence of him exposing not just himself as a moron, but the morons that constitute 40% of the US electorate.

 

 

Maybe a little harsh?  I think quite a few people weren't dumb enough to believe all the Trumped up rubbish he spouted but would prefer any dumb schmuck rather than Clinton.

[Thakkar]

7 hours ago, webfact said:

Stein, who has since left VeriClaim for another firm, said he remembered water damage from rain after windows to an observation deck atop the mansion blew open

 

I guess that's where Trump stored the cocaine. That would explain the $17m payout with no major repairs.

 

He had a "very good policy" indeed. It covered all kinds of losses.

 

T

[dunroaming]

Good job nobody has mentioned the foreign funding issue.....oops!

 

Of course it will be all lies and yet another conspiracy against him, won't it Donald

 

 

 

[Silurian]

1 hour ago, Andaman Al said:

The interesting thing may be the consequence of him exposing not just himself as a moron, but the morons that constitute 40% of the US electorate.

 

 

Beware of poking the deplorables...they have guns and are quick to anger. 

[Mrjlh]

I would think any insurance company worth their grain in salt would not issue a $17 million dollar check without verifying the claim. If the insurance company is not complaining why is the Media or even you for that matter? Here we go again with the rabbit down the hole hunt. Stick to the issues such as Hillary just proclaimed she intends to grant amnesty to millions of illegals with Executive privilege if needed.

 

Edited October 25, 2016 by Mrjlh
Added link.

[Andaman Al]

22 minutes ago, Silurian said:

 

Beware of poking the deplorables...they have guns and are quick to anger. 

 

So I see

 

 

39 minutes ago, dunroaming said:

 

Maybe a little harsh?  I think quite a few people weren't dumb enough to believe all the Trumped up rubbish he spouted but would prefer any dumb schmuck rather than Clinton.

 

I take your point but to be honest anyone that would vote for Trump to keep Clinton out is completely off the plot. Clinton may have a track record that nobody likes but the US will be safe in her hands until the next 4 years is up and someone more suitable hopefully comes along. On the other hand Trump IS dangerous and he would be the catalyst for the downfall of the USA as you know it. He is a white supremacist con man of the highest order and I really shudder to think what he would do.

 

His statement the other day about 'using his Presidential powers' to get rid of corporations that have opposed his run for Presidency says it all. You can NOT give that man the keys to the white house. It is like leaving your fox in the chicken pen to keep an eye on them while you are out. He just can't help himself.

[dunroaming]

11 minutes ago, Andaman Al said:

 

So I see

 

 

 

I take your point but to be honest anyone that would vote for Trump to keep Clinton out is completely off the plot. Clinton may have a track record that nobody likes but the US will be safe in her hands until the next 4 years is up and someone more suitable hopefully comes along. On the other hand Trump IS dangerous and he would be the catalyst for the downfall of the USA as you know it. He is a white supremacist con man of the highest order and I really shudder to think what he would do.

 

His statement the other day about 'using his Presidential powers' to get rid of corporations that have opposed his run for Presidency says it all. You can NOT give that man the keys to the white house. It is like leaving your fox in the chicken pen to keep an eye on them while you are out. He just can't help himself.

 

Absolutely no argument from me concerning any of those points.  The thought of Trump being President of the USA  is so untenable that I am feeling sick just writing it.

[Andaman Al]

I recall as a kid there was a woman living near us that used to spend a LOT on her house and contents insurance policies. When she was wanting money she would 'lose' a piece of jewellery and report it to the police (she of course never lost anything), when she wanted her house done up she would do things like drop a brick in the bath to crack it or turn the taps on in the kitchen with the plug in and go out for an hour, resulting in an 'accidental' flood leading to new carpets (which had to be matching throughout, so the whole house got done. People like her (and Trump) are the reason we all pay so much for our own insurance. Thieves the lot of them.

[Berkshire]

4 hours ago, realenglish1 said:

Tax returns tell you nothing except how much tax you paid and your charitable donations. That is it It will not tell about any business dealings or Fraudulent behavior since he has been audited every year the Tax Department allowed his deductions You are buying into the democrats bull  I don't understand how he is a hucksters or blowhard since he has made billions legally and certainly far bigger than you are . His taxes will reveal very little but continue believing in the Democrats garbage and lies I see you  do not think for yourself

 

How can you Trump stooges still spout this nonsense?  If his taxes "will reveal very little," WHY DOESN'T HE JUST FREAKIN RELEASE IT??? 

Nevermind...would rather not hear more nonsensical diatribe from the Trump minions. 

[stevenl]

1 hour ago, Mrjlh said:

I would think any insurance company worth their grain in salt would not issue a $17 million dollar check without verifying the claim. If the insurance company is not complaining why is the Media or even you for that matter? Here we go again with the rabbit down the hole hunt. Stick to the issues such as Hillary just proclaimed she intends to grant amnesty to millions of illegals with Executive privilege if needed.

 

You're right regarding your first point, no insurance company would pay out a claim like this without checking and double checking.

There is more to this, could be anything from dinner with the CEO, fear of losing other, very profitable, business to simply a very incomplete story.

[Anthony5]

When I read the OP the only thing I can say is , Trump for president, because it clearly a guy who know about business.

 

Does anyone really think the insurance company would have paid $17 million if they could get out of it?

 

Clearly this guy knows what he's doing, and knows how to make bullet proof agreements, which are the qualities a POTUS needs.

[dutchisaan]

58 minutes ago, Anthony5 said:

When I read the OP the only thing I can say is , Trump for president, because it clearly a guy who know about business.

 

Does anyone really think the insurance company would have paid $17 million if they could get out of it?

 

Clearly this guy knows what he's doing, and knows how to make bullet proof agreements, which are the qualities a POTUS needs.

So, you say that Trump knows how to make bullit proof agreements? Than how does it comes that he spend so much of his time on lawsuits?

The only agreement he can make is with himself, because that's the only thing he cares about!

[Anthony5]

2 minutes ago, dutchisaan said:

So, you say that Trump knows how to make bullit proof agreements? Than how does it comes that he spend so much of his time on lawsuits?

The only agreement he can make is with himself, because that's the only thing he cares about!

 

Only someone with a bulletproof agreement would start law suits, and win them as Trump does, because if the agreement isn't bulletproof no one would waste money on a lawsuit.

 

Because you have a strong agreement doesn't mean the counterparty always pays up out of free will.