The Unexplained Wealth Order (UWO) is an anti-money laundering law in Scotland. A group of Mps, led by Patrick Harvie, a co-leader of the Scottish Green Party, has called for a parliamentary vote to apply the UWO to the situation of two golf courses owned by the Trump Organization in Scotland. The former US President is famous for having dubbed himself the “King of Debt”, but this time he might have pushed things too far. The Donald quite evidently likes adrenaline. If you do too, do not follow in his footsteps. There is a better way of finding excitment, like using a LVBET bonus code and enjoying the emotions and advantages of gaming in a much safer way.
Trump’s Scottish adventure begun in 2006 and was never profitable. His two golf courses, Aberdeenshire and Turnberry, have been gulping money down to the tune of several million dollars per year. His first purchase was an old hunting estate along the northeastern Scottish coast. He devastated the environmentally-sensitive dunes there to build the facility and got into all sorts of conflicts with several neighbours. The Scottish government was supportive in the beginning, what with all the promises of economic benefits and thousands of jobs. But that relationship turned sour too, to the point of seeing prime minister Nicola Surgeon declare that Trump will face “due accountability” in Scotland. About what? The hypothesis if evidence emerges that his Scottish golf courses have been used for money laundering and fraud.
Turnberry was a historic golf resort. After Trump purchased it, the financial result was better than Aberdeenshire’s, but still in the minus. The total loss, over eight years, for the two courses amounts to $ 75 million. For the year 2019, the Trump Organization has reported financial losses totaling about $4.6 million. Both Turnberry and Aberdeenshire filed financial disclosures for 2019 at the end of December. Turnberry’s loss for the year was $3.4 million, and Aberdeenshire’s was $1.5 million, the filings say. These figures still do not include the damages caused by the pandemic.
Eric Trump commented in the filings that the virus had caused “significant uncertainty in the economy and hospitality sector.”
The object of a possible UWO investigation though, are not operational financial losses. The part raising suspicions is the huge amount, more than $200 million, that Trump spent in purchasing, developing, and funding the two courses. Where did the money come from? And where was Trump planning to get a further $200 million to expand the Aberdeenshire course? In 2019 the Trump Organization received the green light to add a small village of course-side homes and a second course.
The New York Times has published several articles on Trump’s financial adventures and speculating about his 20-year relationship with Deutsche Bank, his leading financial supporter. The Scottish parliament might now take it a step further and start digging into so far undisclosed aspects of the Trump Organization operations in Scotland.
The post What is the fuss about Trump’s golf courses in Scotland all about? appeared first on Golf News.
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