A recent report from Mother Jones points out yet another unexplained loan situation involving President Trump. The loan in question all suggests that Trump may have committed tax fraud.
The investigation is clearly ongoing and has several lengthy pieces, but Trump claims that he had a debt of $50 million to one of his own companies, but that debt isn’t accruing interest or principal payments. Trump has even said “We don’t assess any value to it because we don’t care.”
In consultation with tax experts, Mother Jones concluded that the loan appears to be fake. The only plausible explanation for the loan is that Trump created it for the purpose of avoiding paying taxes on loans of his that were forgiven when he was in the midst of financial ruin.
Mother Jones outlines it like this:
Trump claims he bought a debt related to his Chicago venture, but neither of the two loans associated with this property appear to have been purchased. The Deutsche Bank loan was refinanced. The Fortress debt, according to sources with knowledge of the transaction, was canceled. And this raises a question: Did Trump create a bogus loan to evade a whopping tax bill on about $48 million of income?
Naturally, the White House and the Trump Organization have no comment regarding the report.