Trump Organization under tax investigation: report


The family business of former US President Donald Trump, already indicted, is now under further investigation, according to a report in The New York Times October 20. Citing sources with knowledge of the matter, the publication reported that the finances of a golf course owned by the Trump organization are under scrutiny.

What did the report say?

The district attorney’s office has reportedly subpoenaed the financial records of the Trump National Golf Club in Westchester. Records from the city of Ossining, which administers the region’s taxes, have also been requested, the report said.

According to the publication, the investigation is led by District Attorney Mimi E. Rocah and focuses on whether Trump’s company submitted misleading reviews of the golf course, in order to benefit from a threshold of lower taxation. The Trump organization said in a statement that the investigation was politically motivated and called it a witch hunt. “The suggestion that something was inappropriate is completely false and incredibly irresponsible,” the statement read. “The witch hunt continues.”

This is not the first criminal investigation to be launched against Trump’s family business. In July, the Trump Organization, which is an unlisted family-owned holding company that owns golf clubs, hotels and luxury properties, was charged with tax crimes, along with the Trump Payroll Corporation and its CFO Allen Weisselberg, in as part of a tax evasion scheme. According to the indictment from 2005 to this year, Weisselberg and the Trump organization defrauded the state and the city of taxes by conspiring to pay senior executives “unofficially.”

Trump’s tax conundrum

Although Trump himself was not involved in this indictment, the former president has waged a long-standing battle to keep his tax returns and financial records from being turned over to prosecutors. In July, the Justice Department ordered the Internal Revenue Service (IRS) to turn over its tax records to Congress.

The New York Times reported in September 2020 that Trump only paid $ 750 (€ 644) in federal income taxes in 2016, the year he ran for president, and in 2017, his first year in office. White House. He also paid no federal income tax for 10 out of 15 years because he said he lost more money than he earned, according to the report. At the time, Trump called the accusations “totally false news.”

kb / sri (AP, Reuters)


Comments are closed.