The Telegraph has an exclusive. They worked on this for three months.
Exclusive: US presidential hopeful Donald Trump signed off on a controversial business deal that was designed to deprive the American government of tens of millions of dollars in tax, the Telegraph can disclose.
The billionaire approved a $50 million investment in a company – only for the deal to be rewritten several weeks later as a ‘loan’.
Experts say that the effect of this move was to skirt vast tax liabilities, and court papers seen by the Telegraph allege that the deal amounted to fraud.
Independent tax accountants and lawyers said that the documents Mr Trump signed – copies of which were obtained by this newspaper as part of a three-month investigation – contained “red flags” indicating the deal was irregular.
But the Republican presumptive presidential nominee signed nonetheless.
A real estate deal that used Trump’s name but was actually between other companies. If it is structured this way then the tax position is this. If it’s structured that way then the tax position is this other.
The documents were signed, they thought about that tax position and decided to run it again using the other structure.
Big Scandal, eh? And of course, you’ll not be surprised to know that this story was brought to you with the assistance of the Tax Justice Network, would you?