We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon
Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
House Committee on Oversight and Government Reform member Rep. Alexandria Ocasio-Cortez (D-NY) on Wednesday got longtime “fixer” Michael Cohen to admit that Donald Trump committed federal and state crimes.
Ocasio-Cortez, also known as AOC, was able to get Cohen to testify about federal insurance fraud and local tax fraud in New York and Florida.
“I want to ask a little bit about your conversation with my colleague from Missouri about asset inflation. To your knowledge, did the president ever provide inflated assets to insurance companies?”
“Yes,” Cohen replied.
“Mr. Cohen, I want to ask you about your assertion the president may have improperly devalued his assets to avoid paying taxes. According to an August 21, 2016 report by The Washington Post, while the president claimed in financial disclosure forms that Trump National Golf Club in Jupiter, Florida, was worth more than $50 million, he had reported otherwise to local tax authorities that the course was worth, quote, no more than $5 million,” Ocasio-Cortez noted.
“Mr. Cohen, do you know whether this specific report is accurate?” she asked.
“It’s identical to what he did at Trump National Golf Glub at Briarcliff Manor,” he replied.
“To your knowledge, was the president interested in reducing his local real estate bills, tax bills?” Ocasio-Cortez asked.
“Yes,” Cohen replied.
“How do you do that?” she asked.
“What you do is deflate the value of the asset and put in a request to the tax department for a deduction,” Cohen answered.
