President Trump Received Hundreds Of Millions Of Dollars From Father’s Real Estate Empire, Much Of It “Through Tax Dodges”

 In Corruption and Fraud, Fake News   Last Updated: October 13, 2018

President Trump has on more than one occasion claimed that he built his empire with a small loan of $1 million.  However, according to information obtained by the New York Times, Donald Trump “received at least $413 million in today’s dollars from his father’s real estate empire, much of it through tax dodges in the 1990s.”

Some of the creative ways Donald’s father Fred channeled money to Donald and his other siblings include:

The New York Times reviewed a large number of documents and information to uncover the items listed above:

The findings are based on interviews with Fred Trump’s former employees and advisers and more than 100,000 pages of documents describing the inner workings and immense profitability of his empire. They include documents culled from public sources — mortgages and deeds, probate records, financial disclosure reports, regulatory records and civil court files.

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. Most notably, the documents include more than 200 tax returns from Fred Trump, his companies and various Trump partnerships and trusts. While the records do not include the president’s personal tax returns and reveal little about his recent business dealings at home and abroad, dozens of corporate, partnership and trust tax returns offer the first public accounting of the income he received for decades from various family enterprises.

 

 

Glenn Kessler. "Trump’s false claim he built his empire with a ‘small loan’ from his father." Washington Post, 03 March 2016. Web. 13 October 2018.
DAVID BARSTOW, SUSANNE CRAIG and RUSS BUETTNER. "Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father." New York Times, 02 October 2018. Web. 13 October 2018.
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