Vanity Fair: Trump’s Odds of Getting Away with Tax Fraud Just took a Nosedive

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Since leaving office in January, Donald Trump has apparently laid out a number of goals for himself. One of them is to scam as much money as possible out of his supporters. Another is to maintain relevance despite his social media banishment. Yet another, and probably the most important of the bunch, is to avoid prosecution for his cornucopia of alleged crimes. And on that last front, things aren’t looking great for the ex-president.

Weeks after the Supreme Court rejected Trump’s bid to keep his tax returns out of the hands of the Manhattan District Attorney’s Office—a turn of events he reacted to like a man who knows prison is in his future—the D.A. has expanded its criminal investigation of potential insurance, bank, and tax fraud outside of New York City.

On Monday, CNN reported that Cy Vance’s office has subpoenaed documents from Fortress Investment Management, which loaned the Trump Organization $130 million to build his Chicago tower and then, seven years later, forgave a cool $102 million of that debt.

While Trump ended up getting a sweet deal not having to repay a huge chunk of money, investigators are reportedly interested to know if he paid taxes on the forgiven amount, as required by the IRS. Per CNN:

Investigators’ interest in how Trump and his company treated the Chicago loan is an expansion of an inquiry that encompasses multiple aspects of the Trump business. Prosecutors are examining whether the company misled lenders or insurance brokers about valuations for certain properties…read more…

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4 COMMENTS

  1. The funny thing is that Trump is such a narcissist that he might not be smart enough to make a ‘go bag’ to flee to the UAE, his friends in Is. will abandon him now that he doesn’t have any more power. He’ll stick around to beat the charges in court because he feels entitled. BTW if he is innocent, so be it, just pointing out that even if he is guilty, he will not run.

  2. Question for VT:

    “..Fortress Investment Management, which loaned the Trump Organization $130 million to build his Chicago tower and then, seven years later, forgave a cool $102..”

    As someone that doesn’t know the in’s and out’s of high finance, is it common to forgive a loan like that!?

    I understand “sweetheart” illegal deals between cabal members…. but are there “legitimate” examples of this kind of debt forgiveness?

  3. My wife and I paid taxes on the 10K that Bank of America “forgave” during our 2009 Mortgage Bankruptcy.
    Let’s see what happens to Trump.

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