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Donald Trump inflated wealth by ‘falsely valuing’ Menie Estate based on over 2,000 homes – despite only having planning permission for 500

Menie Estate was bought by Mr Trump in 2006 with the aim to transform it into "the world's best golf course".

Donald Trump at the Menie Estate earlier this y. Image: Trump International Scotland.
Donald Trump at the Menie Estate earlier this y. Image: Trump International Scotland.

A US judge has ruled that former president Donald Trump is liable after “repeatedly” misrepresenting the value of his Aberdeenshire estate.

Menie Estate, the current site of the Trump International Golf Club, was bought by Mr Trump in 2006, aiming to create “the world’s best golf course”.

However, a New York Supreme Court ruling has held Mr Trump and company officials liable for misrepresenting hundreds of millions of dollars in assets.

Financial statements in the US claimed the controversial course at Balmedie had permission to build more residential homes than was the case.

The golf course on the Menie Estate was first opened in 2012, with the vision for a 450-room hotel, 950 holiday apartments, 36 ‘golf villas’ and 500 houses for sale.

However, more than 10 years on, none of the houses have been built.

Mr Trump has denied any wrongdoing and has called the case against him a “witch hunt”.

Donald Trump on the ground at Aberdeen Airport. Image: PA.

The ruling comes ahead of a civil case brought by New York Attorney General Letitia James against Mr Trump, his two sons and other senior company personnel.

It is alleged they lied about finances, including Mr Trump’s net worth and assets around the world between 2011 and 2021.

Ms James claimed the defendants issued false business records and financial statements to get better terms on bank loans and insurance deals and to pay less tax.

Mr Trump and others held ‘liable’

The case is due to go to trial next month, however, Justice Arthur Engoron has ruled on part of the claim ahead of this in a move known as summary judgment.

In his 35-page ruling, Justice Engoron includes the Menie course, which Ms James claims was valued based on inaccurate planning permissions.

Ms James is using a Statement of Financial Conditions (SFC) submitted by the Trump Organization between 2014 and 2019 as evidence.

Artist impression of homes due to be built on the Menie Estate owned by Donald Trump. Image: Trump Organisation.

Aberdeenshire Council gave outline permission for 500 residential homes and 50 “leisure/resort units” at Menie in September 2019.

Court documents state that Trump’s 2019 SFC, finalised a month later, has a value for the resort on the basis that 2,035 private residential homes could be developed there.

Ms James argued if the values reflected the homes with planning permission, it would be £164.1m less.

However, Mr Trump’s lawyers argued the golf resort was undervalued, but this was dismissed by Justice Engoron who concluded the Attorney General “has demonstrated liability for the false valuation of Aberdeen as appears in the SFCs from 2014 to 2019.”

Trump International Golf Club is currently constructing a new golf course at the Menie Estate in honour of Mr Trump’s Scottish-born mother.