To: bruwin who wrote (1091602 ) 10/3/2018 12:07:34 PM From: sylvester80 Respond to OOPS! Bombshell Report on Trump's Taxes May Spark an Investigation by New York Tax AuthoritiesDAVID MEYER fortune.com New York Times dropped an investigative bombshell : President Donald Trump got at least $413 million from his father’s real estate empire, much of it through “dubious tax schemes…including instances of outright fraud.”Bloomberg Times investigationwill air Sunday on Showtime.Times that some tactics—such as the establishment of what seems to have been a shell company for siphoning money from the Trump empire to Donald, his siblings and a cousin—could be characterized as criminal tax fraud. Fred and Mary Trump also appear to have significantly undervalued assets in tax returns. When Fred died, the most valuable item in his estate tax return was “a $10.3 million I.O.U. from Donald Trump, money his son appears to have borrowed the year before he died.”Times that President Trump himself had “virtually no involvement whatsoever with those matters,” and the “affairs were handled by other Trump family members who were not experts themselves and therefore relied entirely upon the aforementioned licensed professionals to ensure full compliance with the law.”Times investigation does not show Donald Trump in a flattering light. It claims he tried to change his father’s will in 1990, to make Donald the estate’s sole executor, but Fred feared his son would use the empire “as collateral to save his own failing businesses.” It says the $1 million Donald Trump always claimed he received from his father, to build his own empire, was actually more than $60 million. And it claims the president grossly undervalued the empire when he came to sell it in 2004, losing out on hundreds of millions of dollars.not made him richer . In the new Forbes 400 list, Trump’s net worth is $3.1 billion, down from $4.5 billion when he launched his presidential campaign in 2015. He dropped 138 spots on the list during that period.
