While reaping the proceeds of tax fraud, Trump raised funds through highly questionable sources. The Times also raised numerous issues of other questionable Trump tax practices that, if they had been investigated further by the IRS, would likely have revealed a much broader pattern of tax evasion in addition to the gift tax scheme. Indeed, it is no coincidence that the reporting by the New York Times of that alleged fraud led to Trump’s sister, Maryanne, to resign as a judge from the Sixth Circuit Court of Appeals rather than answer to a judicial investigation. Since leaving the government, I have regularly represented private clients under investigation for tax fraud.Ĭreating a sham corporation as the Trumps did to cheat the IRS is a classic method of perpetrating tax evasion. Attorney in the Southern District of New York, I prosecuted a large number of tax evasion cases involving white collar and mafia defendants.

As an assistant special Watergate prosecutor, I conducted the grand jury tax evasion investigation into President Richard Nixon for back-dating his gift of vice-presidential papers to the National Archives in order to take a bogus tax deduction. In 1992, in the midst of his bankruptcy filings, the Trump family created a fictitious company, “All County Building Supply & Maintenance.” It appears the company’s main purpose was to evade gift taxes on funds that Fred Trump, Donald’s father, funneled to Donald and his siblings as ostensibly legitimate tax-deductible business expenses. Trump then engaged in a concerted criminal effort to resuscitate his businesses through tax evasion and old-fashioned business fraud. Having run his businesses into the ground, Trump became a financial pariah unable to obtain funding from legitimate financial institutions. That debacle was followed by five other bankruptcy filings - two more casinos in 1992, the New York City Trump Plaza hotel in 1992, the 2004 bankruptcy of the Trump Hotels and Casinos Resorts and the 2009 bankruptcy of Trump Entertainment Resorts. The financial woes that led to Trump’s creation of the false financial statements can be traced back to 1991, when he filed for bankruptcy after the financial collapse of his Taj Mahal casino in Atlantic City. It also soundly rebuts Don Jr.’s trial testimony that his father was a “visionary” and an “artist with real estate.” What it does show is that Trump is nothing more than a classic con artist.

But it does suggest why Trump ultimately falsified his financial statements. This background was neither a subject of the trial nor an element of the claims alleged in New York Attorney General Letitia James’s complaint.

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