President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, according to this investigation by The New York Times.
Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.
However, the Times’s investigation, based on a trove of confidential tax returns and financial records, reveals that now-President Trump received the equivalent of at least $413 million in today's dollars from his father’s real estate empire, from when was a young child until now.
Much of this money came to Trump because he helped his parents dodge taxes, The Times asserts.
Robert Trump, the president's brother, issued a statement on behalf of the Trump family:
“Our dear father, Fred C. Trump, passed away in June 1999. Our beloved mother, Mary Anne Trump, passed away in August 2000. All appropriate gift and estate tax returns were filed, and the required taxes were paid. Our father’s estate was closed in 2001 by both the Internal Revenue Service and the New York State tax authorities, and our mother’s estate was closed in 2004. Our family has no other comment on these matters that happened some 20 years ago, and would appreciate your respecting the privacy of our deceased parents, may God rest their souls.”
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