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Manhattan prosecutors are looking into expensive fees Trump charges new members of his golf clubs, report says

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U.S. President Donald Trump plays golf at the Trump National Golf Club in Sterling, Virginia, U.S., November 22, 2020.

U.S. President Donald Trump plays golf at the Trump National Golf Club in Sterling, Virginia, U.S., November 22, 2020. REUTERS / Hannah McKay

  • Prosecutors are focusing on large admission fees to Trump golf clubs, a Washington Post report said.

  • Trump has 15 golf courses around the world, and some charge joining fees as high as $350,000.

  • It came as prosecutors convened a grand jury to consider new charges against the Trump Organization.

Manhattan prosecutors are examining the steep fees Donald Trump charges for admission to his golf clubs, The Washington Post reported, part of their probe into the former president’s business dealing.

The Post reported that prosecutors from the Manhattan District Attorney’s office had recently asked about those initiation fees and about Trump’s role in setting them at his 15 courses around the world.

Manhattan District Attorney Cyrus Vance Jr. has for years been probing the Trump Organization’s finances.

He is specifically investigating whether executives at the company misrepresented its finances to secure favorable loans and tax breaks.

Prosecutors’ new interest in Trump’s golf courses came as they empaneled a second grand jury to consider whether to launch criminal charges against the Trump Organization.

It is unclear what the golf-club fees may play in the investigation. The post said that Trump often cited the initiation fees in the statements he sent to lenders.

At his West Palm Beach golf club, near his Mar-A-Lago resort, the initiation fee went up in 2021 from $150,000 to $350,000, The Washington Examiner reported.

The former president has lost more than $300 million dollars through his golf courses in the last 20 years, according to a bombshell New York Times report published last year.

Many of his courses continue collectively to lose tens of millions of dollars a year, as shown in public filings.

The new grand just was expected to start hearing evidence this week, the Post reported.

Read the original article on Business Insider

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