Trump’s Fraudulent Behavior

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Trump’s Fraudulent Behavior

Matthew Grubin, Reporter

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Ever since the 1950s, Donald Trump was inheriting hundreds of thousands of dollars from his father, Fred Trump. He inherited it in various ways, but most notably through fraud. The Trump family has been cheating the tax system for over 50 years. The families deceit and lies have led them to the very top of American society.

Allegations

The Trump family allegations of fraud have recently been the focus of increasing attention. The New York Times has revealed that Trump’s financial records state that, “Trump dodges millions of dollars of taxes, with various methods.” His fraudulent ways all started with his dad’s real estate empire. Fred Trump had allocated millions of dollars in cash from his buildings. That was uncommon in the 80s, as the rich would pay unforgiving taxes. Fred Trump allowed deposits of money to flow through his bank accounts, which led to him giving money to his children. Fred provided Donald with loans, cars, stock options, and streams of revenue from his properties. The reason why he had contributed so much to his children was the way he sidestepped taxes. Fred Trump knew many federal housing officials that he would bride, so he would pay fewer taxes, to benefit his children. The Trumps have committed more than fraud; they have exploited legal loopholes which have helped them stay out of any trouble with the IRS. They have bribed officials, aided money to government corporations; in return, they avoided paying taxes. These were all allegations against the Trumps, regarding fraudulent activity.

Facts

Fred Trump had many properties in the NYC area that were generating immense amounts of profits. As he was aging, his children had taken over the empire, and they decided to undervalue his properties. The family saved more than one hundred million dollars in tax money, using their tactics. A company named, “All County Building Supply and Maintenance,” was established. The purpose of it was to be a purchasing agent for Trump’s buildings, to buy old boilers, and cleaning supplies. Instead, the firm faked sales by marking them twice under different categories. The fraud sales became long terms of revenue for Trump. Overall since 1956, more than 295 streams of income, have been given by Fred Trump to enrich his son. With all of Fred’s properties sold and the inheritance, overall Donald Trump accumulated $177 million. The New York Times received more than 200 accounts of financial audits, tax returns, mortgages, that have been used to refrain from the Trumps paying taxes.

Hypocrisy

Donald Trump has consistently appeared on Television, saying how he is, “self-made,” and that his dad never had “financially-allocated” him anything. Trump has profited from this “lie” significantly over the past two decades. He has sold books and licensed TV shows based on his hypocrisy. Trump Tower is an excellent example of how Trump used his father’s inheritance to construct Trump Tower. Trump Tower has given Trump a sharp image. As a result, Trump Tower was set to be the stage for his presidential campaign and his show, “The Apprentice.” In 2004 the Trump family had sold off their dad’s empire when it was worth more than $600 million. Donald took more than 150 million dollars as his cut. The Trump family ever since 2004 has been growing more and more because of the current digital age. Trump has been able to create a good view of himself in public. It led him to run for president in 2016. He has achieved even more exposure, with lies, deceit, and fraud.

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