Did Donald Trump Indulge in Fraud? New York State on a Mission To Find Out

It all started with the dramatic congressional testimony of Michael Dean Cohen, the former attorney of the former president.

Cohen joined the Trump Organization as an attorney in 2006, and was there till 2018, after which he was convicted and sentenced to three years in prison for tax evasion and other federal crimes.

During his testimony to Congress on 27 February 2019, Cohen ratted out Trump about his dishonest business practices, such as misstating the value of his properties depending on his objective in that particular situation.

“It was my experience that Mr Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes,” he famously said.

During the hearing, in front of the House Committee on Oversight and Reform, Cohen also submitted a few of the many financial documents (labelled “statements of financial conditions”) that Trump gave to bankers and insurers in 2011, 2012, and 2013, in order to inflate his personal wealth, Washington Post reported.

What is the logic behind Trump’s inflation and deflation of property?

It all depends on what loopholes can be exploited to financially benefit from manipulated property valuation.

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