New York state authorities are investigating Trump’s engagement in “dubious tax schemes during the 1990s, including instances of outright fraud”, after the report of the New York Times, as he and his siblings took control of a real estate empire which Fred C Trump, the president’s late father, built, as The Guardian reports.
“The tax department is reviewing the allegations in the NYT article and is vigorously pursuing all appropriate avenues of investigation,” the New York state taxation authority informed the Washington Post.
The blockbuster investigative report reveals the story of how Trump “received the equivalent today of at least $413m from his father’s real estate empire, starting when he was a toddler and continuing to this day”.
“Little of the information had previously come to light. Its publication, which was subject to blanket denials by a lawyer for the president and by the White House but which was not refuted in detail, fundamentally alters the visible facts establishing the centerpoint of Trump’s identity: his wealth,” the message says.
The investigation did not unearth Trump’s tax fillings, as he himself refused to disclose.
“The story of a nine-figure inheritance contradicts Trump’s portrayal of himself, going back more than 40 years, as a self-made man. He has characterized his father’s real estate empire as a “tiny” concern and said he only ever took a $1m loan from his father, which he paid back with interest,” the news agency reads.
In the interview, the U.S. leader said: “I got peanuts. My father didn’t leave a great fortune. It was Brooklyn and Queens real estate. I built this empire and I did it by myself. Nobody did it for me.”