‘Bombshell’ Report Attributes Trump’s Wealth To His Father’s Shady Practices

There’s a new “bombshell” report out by the New York Times, detailing how President Trump’s father accumulated wealth. It cites “dubious tax schemes… including instances of outright fraud.”

President Donald Trump‘s vast accumulation of wealth was made possible through numerous efforts by his father to steer resources into his son’s hands by vastly undervaluing real estate values, obscuring gifts, and avoiding taxes, according to a bombshell investigation.

A trove of documents including Fred Trump’s tax returns show countless efforts to enrich Donald Trump and set him up to be the successful businessman and public figure and politician that he became.

Many of the transfers were made in secret, often in advantageous ways that saved Trump and his siblings hundreds of millions of dollars, according to a deeply reported New York Times analysis.

According to the analysis, Trump was a legit millionaire by the time he was 8. New York State tax authorities have pledged to investigate the entire ordeal.

In just once example, sourced to the 1995 tax return of Fred Trump, a successful developer of large-scale housing construction projects, Donald Trump and his sibling claimed 25 apartment complexes with 6,988 apartments were worth only $41 million. Less than a decade later, in 2004, banks valued them at $900 million.

Trump was able to ban a total of $413 million from father’s empire partly through tax ‘dodges,’ according to the bombshell analysis.

Trump lawyer Charles Harder responded to the report.

“Should The Times state or imply that President Trump participated in fraud, tax evasion or any other crime, it will be exposing itself to substantial liability and damages for defamation,” he said.

“President Trump had virtually no involvement whatsoever with these matters,” he added. “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.”

Le sigh.

h/t Daily Mail