March 7, 2021

Trump denies the "boring" revelation of his alleged tax fraud

Trump denies the "boring" revelation of his alleged tax fraud



The US president, Donald Trump, described as "boring" and "false" the investigation of The New York Times, which says he amassed a significant part of his fortune thanks to fraudulent tax practices.

Trump described the article, which appeared Tuesday, as "a very old piece of attack, boring and often told," in a message on Twitter.

"Added, 97% of their news about me is negative," the president added about the newspaper, which he usually cites as the spearhead of the "False Media."

The newspaper's comprehensive information shows that, along with his brothers, the tycoon created a false company to hide millions of dollars from his parents and valued below his real value assets of his father's real estate business to avoid paying large amounts of taxes when they were made with him.

In total, The New York Times estimated that Fred and Mary Trump, the president's parents, transferred to their children a fortune of more than 1,000 million dollars for which they barely paid the 52.3 million dollars, compared to about 550 millions that should have contributed for the inheritance tax.

In a press conference, the spokeswoman of the White House, Sarah Sanders, insisted today that it is a "totally false attack" and "highly defamatory" against Trump.

The newspaper, which has analyzed a large file of tax returns and other documents in the 1980s and 1990s, also noted that over the years Trump received from his father the equivalent of more than 413 million dollars, which contradicts his repeated assertions that he is a self-made billionaire.

Fred Trump, who died in 1999, was a successful New York builder who made his fortune with urban development in several neighborhoods of New York, such as Brooklyn or Queens, an empire that was later dedicated to managing his son Donald.

The president has repeated over and over again that his wealth is due to his own entrepreneurial skills, and he usually remembers the story of how he turned a small loan of one million dollars from his parents into a fortune of 10 billion dollars.

Before the disclosure of the newspaper, the New York Tax Department announced that "it is reviewing the allegations and is seriously analyzing all appropriate investigation channels," said the spokesman of this body, James Gazzale, who avoided giving more details.

This office has the power to impose fines and punishments for violations of the rules and can send cases to the prosecution to initiate criminal proceedings.

However, it seems that in the case of Trump, a priori, any criminal liability would have prescribed, given that the alleged irregularities go back to past decades.

In a statement, a lawyer representing Trump, Charles J. Harder, told the newspaper that the accusations of "fraud and tax evasion are one hundred percent false" and "extremely inaccurate."

According to Harder, Trump had delegated all these tasks to relatives and professionals, and he rarely dealt with tax issues.

Doubts about Trump's fiscal practices are not new, since during the presidential campaign of 2016, information appeared about financial maneuvers to avoid paying taxes.

Unlike other presidents, Trump has refused to make his tax returns public.

The president himself, in the midst of the election campaign, boasted that he had "used brilliantly" the US legislation to "not pay more taxes than legally required" during his time as an entrepreneur.

According to the latest list of Forbes magazine, Trump's fortune remains around 3,100 million dollars.

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