![]() ![]() ![]() It could also reveal any internal debate and discussion that could help prosecutors determine the intent behind any conclusions they reached. In addition to tax returns, investigators obtained financial statements and work papers that may shed light on the decision-making process behind the treatment of the cancelled debt. Prosecutor’s interest in Trump’s handling of the Fortress loan forgiveness comes as the district attorney’s office has begun digging into Trump’s tax returns and other records it received from Mazars, Trump’s long-time accountant. Associated Press 1:01 PM PT NEW YORK Donald Trump threw up his hands in frustration Tuesday as a judge scheduled his criminal trial for March 25, putting the former president. The Times wrote that Trump took advantage of a law enacted after the 2008 financial crisis that allowed companies to spread out income from cancelled debts over several years. The New York Times, which obtained Trump’s taxes, said the forgiven debts showed up in Trump’s tax returns as cancelled debts. ![]() His campaign store is selling an I Stand With Trump T-shirt showing the date of his. The attorney general’s office said at the time that information about the transactions was “significant” to its civil investigation. Trump’s legal troubles are deeply intertwined with his political campaign and fund-raising efforts. Prosecutors with Manhattan District Attorney Cy Vance’s office are looking into whether Trump and the Trump Organization recorded the loan forgiveness as income, as required by the Internal Revenue Service, and paid the appropriate taxes, the people say. The forgiveness was done to secure a partial re-payment of about $45 million at a time when the real estate market was suffering from the financial crisis. Their interest in Fortress relates to a $130 million loan the company made to the Trump Organization for the construction of a luxury hotel and condo tower in Chicago.īy 2012, Fortress subsequently forgave more $100 million of the loan, which, including interest and fees, was worth about $150 million, according to court filings. WASHINGTON Democratic lawmakers on Wednesday released a report alleging that top Trump administration officials had awarded a 700 million pandemic relief loan to a struggling. They are also investigating fees paid to consultants and a conservation easement taken on a New York family estate called Seven Springs. Prosecutors are examining whether the company misled lenders or insurance brokers about valuations for certain properties. It paints a detailed picture of how the president used potentially illegal tax schemes to. Donald Trump and his children (L-R) Donald, Jr., Ivanka and Eric prepare to make hand prints during a press conference at the Trump International Hotel and Tower in Chicago on September 24, 2008. The New York Times has published a special investigation that digs deep into the Trump family finances. ![]()
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