"Unusual" accounting: Inside a Trump business audit

CBS News

In a three-sentence letter on April 22, 1987, Donald Trump signed off on a series of accounting changes that allowed his first hotel to shortchange New York City nearly $3 million in rent, city auditors later concluded. A decade before, Trump struck a unique deal freeing the hotel of $160 million in property taxes over the course of 40 years, while guaranteeing the city a small financial stake in its success: New York City received annual rent payments tied to the Grand Hyatt's profits.