REVEALED: Trump still making money off his bogus university — and doing business with the Saudis
Donald Trump’s financial disclosure form reveals he’s still making money off his fraudulent Trump University and doing business in Saudi Arabia — which he’s blamed for the 9/11 terrorist attacks.
The likely Republican presidential nominee released financial records Wednesday that all presidential candidates are required to file with the Federal Election Commission, including estimates of his assets, income and debt since the beginning of 2015.
The 104-page document lists 527 current job titles for Trump, most leadership roles in his multitude of companies.
Trump claims he’s worth $10 billion, but the records show he has at least $1.47 billion in assets and at least $315 million in liabilities — although it’s possible his assets are worth as much as he says.
The form showed Trump made $13,239 last year from the Trump Entrepreneur Initiative LLC, which had previously been called Trump University LLC, although the business has been defunct since 2011 and has been tangled in lawsuits since 2013.
Trump faces three lawsuits — two class-action suits and another brought by New York’s attorney general — alleging that the university was basically a scam.
“Thousands of Mr. Trump’s alleged victims have been waiting years for relief from his fraud,” New York Attorney General Eric Schneiderman told The Daily Beast. “As we will prove in court, Donald Trump and his sham for-profit college defrauded thousands of students out of millions of dollars.”
The former students say they paid to learn about the real estate business but instead they got only a cardboard cutout of the real estate developer and reality TV star.
A hearing for one of the class-action suits is scheduled for July 22, the day after the Republican National Convention ends, but the other two suits have been delayed until after the Nov. 8 election.
The financial disclosure form shows Trump’s revenue increased by $190 million over the past 17 months, and that he earned $557 million in income.
The records show Trump invested in companies he’s attacked during campaign rallies, such as Amazon, Apple and Ford Motor Co.
He also set up several new companies in Saudi Arabia, which Trump has said is responsible for the Sept. 11, 2001, terrorist attacks and from which he’s suggested ending oil purchases in retaliation.
“Who blew up the World Trade Center? It wasn’t the Iraqis, it was Saudi — take a look at Saudi Arabia, open the documents,” Trump said in February.
Those companies are most likely to handle hotel projects in the kingdom or elsewhere.
Trump still has not released his tax returns, which would provide a far more detailed account of his personal finances.