Trump got $413M from his father, largely from tax dodges, NYT reports

03 Octobre, 2018, 09:58 | Auteur: Anatole Charbonneau
  • Donald Trump

Per Buzzfeed, a spokesperson for New York's Department of Taxation and Finance said the department was "reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation".

Charles J. Harder, the Trump lawyer, called the fraud and tax evasion allegations "100 percent false, and highly defamatory".

A digest of the top political stories from the Globe, sent to your inbox Monday-Friday. "He was a millionaire by age 8". Administration spokesperson Sarah Sanders added that USA tax authorities had "reviewed and signed off on these transactions".

The state on Tuesday launched an investigation into President Trump following an explosive report alleging that he and his family cooked up fraudulent financial schemes to help their parents dodge millions in taxes.

"The investigation also draws on tens of thousands of pages of confidential records - bank statements, financial audits, accounting ledgers, cash disbursement reports, invoices and canceled checks", it said. "Perhaps another apology from the New York Times, like the one they had to issue after they got the 2016 election so embarrassingly wrong, is in order", she said. To minimize taxes as Fred Trump passed that money to his children, he reportedly made them stakeholders in a shell company, All County Building Supply & Maintenance.

The report said Trump himself received the equivalent of $413 million in today's dollars. "The money increased with the years, to more than Dollars 5 million annually in his 40s and 50s".

The paper has alleged that the president was involved in "dubious tax schemes during the 1990s, including instances of outright fraud".

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"The facts upon which The Times bases its false allegations are extremely inaccurate", Harder said, according to the Times. He said the affairs "were handled by other Trump family members who were not experts themselves", and who had relied on tax professionals.

The Internal Revenue Service, however, declined to comment, noting their policy of neither confirming nor commenting on individual's cases.

US President Donald Trump speaks during a press conference on September 26, 2018, on the sidelines of the United Nations General Assembly (UNGA) in NY.

But the Times claims Fred Trump actually loaned his son at least $60.7 million, or $140 million in today's dollars.

Schwartz has long tried to offer interpretations of Trump's mind and on Tuesday he said that he guessed that the Times's report would enrage Trump more than "virtually anything that ever happened to him".

The president's brother Robert Trump said that "all appropriate gift and estate tax returns" were filed.

The properties were valued at just United States dollars 41.4 million although they were sold off over the next decade for more than 16 times that amount, it said.

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