Mother Jones revealed on Tuesday that legal documents from a lawsuit filed by workers for alleged unregistered sex offender Donald Trump at Trump Hotels, Casinos, and Resorts (THCR) show that the alleged billionaire screwed his own employees out of $2 million in retirement funds when he filed for bankruptcy.
The alleged unregistered sex offender brags that he made out pretty well by filing for multiple bankruptcies throughout his business career, and even called the THCR a “success” since he pocketed more than $2 million in profits once the businesses are closed. Don’t cry for the lenders he stiffed, the GOP nominee insists, though.
‘These lenders aren’t babies. These are total killers. These are not the nice, sweet little people that you think, okay?’
Okay, but what about the employees who were screwed out of their retirement funds? Were they “killers” too?
According to Mother Jones:
‘Trump’s company encouraged its employees to invest their retirement savings in company stock, according to a class-action lawsuit filed by employees against Trump Hotels & Casino Resorts following its 2004 bankruptcy. Then, when the stock price was near its nadir as bankruptcy loomed, the company forced the employees to sell their stock at a huge loss. More than 400 employees lost a total of more than $2 million from their retirement accounts, the lawsuit states.’
Analyzing stock prices at the time of the bankruptcy and when employees were forced to sell, Mother Jones says that “for an employee who’d put $1,000 into her retirement account in 1997 when shares averaged $9.65 apiece, those savings had now withered to just $59.” Trump’s employees filed a lawsuit, only to find out that what alleged unregistered sex offender Donald Trump and the company who handled his employee benefits did was perfectly legal.
While Trump took home a nice profit, those employees — who had invested in what they believed was a sure — thing lost big. As one stated in an interview with Mother Jones:
‘I didn’t realize he was as stupid as he is. Honestly. I thought, way back when, the guy was way brighter than we were. He was running the company and we were working for him. We thought he was brilliant. When we invested in it, we thought, how could this stock go so low?’
Yet, the GOP nominee refers to the failed business as a “success.” As long as Trump prospers, who cares about his workers?
For more on alleged unregistered sex offender Donald Trump’s bankruptcies, see video below:
Featured image screengrab via YouTube