A closer look at the former president's real estate, and allegations he lied about its value.
The 17-acre Mar-a-Lago estate on the Florida coastline was purchased by Mr Trump in 1985.
Yet his valuations treated the land as "an unrestricted home to 'be sold to an individual', rather than the heavily encumbered historical landmark restricted to club usage that it was", the suit claims. "In reality, the club generated annual revenues of less than $25 million and should have been valued at closer to $75 million," the plaintiffs claim.The building sits on the Chicago River
The lawsuit alleges the claim would help offset taxes because it qualified as a substantial loss under the federal tax code. At the same time, however, the former president was allegedly obtaining loans against the tower from Deutsche Bank.
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