Donald Trump reportedly framed a plan to devalue his parents’ real estate assets to decrease the tax bill when those assets were transferred to him and his siblings.
Trump lawyer says President Trump had virtually no involvement whatsoever with these matters.
According to an investigative report published by the New York Times, one of the influential newspapers in the World, United States President Donald J. Trump assisted his parents evade taxes through fraud in the 1990s and received at least $413 million from his father’s real estate business.
Trump reportedly framed a plan to devalue his parents’ real estate assets to decrease the tax bill when those assets were transferred to him and his siblings.
In response to the report, Trump’s lawyer Charles Harder denied the tax fraud allegations against Trump and said, “President Trump had virtually no involvement whatsoever with these matters”.
Trump began his real estate career at his father’s company, Elizabeth Trump and Son, which he later renamed The Trump Organization.
He has promoted his name to many construction projects and commercial products. Trump’s failed business ventures have included several casino and hotel bankruptcies, the folding of his New Jersey Generals Football team, and the now-defunct Trump University.
There are two key essentials to Trump’s business operations:
- Acquisition and management of property. This division was backed at first by his father’s real estate fortunes.
- Building of the Trump brand, which Donald Trump, through aggressive marketing and public relations, created himself.
