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- Two investigations into the New York fraud against President Donald Trump have expanded to include write-offs of consulting fees, some of which appeared to include fees paid to President Ivanka Trump’s daughter, The New York Times reported Thursday.
- A Times investigation into Trump’s taxes previously found that from 2010 to 2018, the senior Trump deducted $ 26 million in consulting fees.
- Of that total, payments totaling $ 747,622 exactly match the total that Ivanka Trump The present invention relates to receive from a consulting firm she co-owned. The Times said she was not considered the target of investigations.
- Visit the Business Insider homepage for more stories.
Two investigations into the fraud in New York against President Donald Trump have expanded to include write-offs of consulting fees, some of which appeared to be paid to President’s daughter Ivanka Trump, The New York Times reported Thursday, citing sources anonymous.
The write-offs were discovered by a Times investigation published this year into the president’s long-wanted federal income tax returns.
The investigation findings included $ 26 million in consulting fees listed as write-offs by the Trump Organization, reducing the president’s taxable income. It wasn’t clear who the payments were to, but The Times noted that some of the charges matched exactly an amount disclosed by Trump’s eldest daughter.
According to The Times, that amount, $ 747,622, was both deducted by Trump for developments in Hawaii and Canada and, in a separate document, listed by Ivanka Trump as a payment she received from a company. consultancy of which she was co-owner. She filed the financial disclosure in 2017 when she became an advisor to the president.
The Times first published the figures in September, adding that Ivanka Trump was an employee of the Trump Organization at the time the consultant payments were made. The Times said the results implied that she was paid as a consultant while also working for the company as an executive.
On Thursday, The Times reported that two ongoing investigations are now examining the payments: a criminal investigation by Manhattan District Attorney Cyrus Vance Jr., and a civil investigation by the New York State Attorney General, Letitia James.
Vance and James’ offices have reportedly issued subpoenas in an attempt to obtain the Trump Organization’s payment records, the Times said. The claims were for fees paid to Ivanka Trump’s company, TTT Consulting LLC. The Times noted that Ivanka Trump was not supposed to be the subject of either investigation.
The Trump organization reportedly told The Times in a statement that “this is just the latest fishing expedition in a continuing attempt to harass the company.”
“Everything was done in strict compliance with applicable law and under the advice of a lawyer and tax experts,” the statement said, according to the Times. “All applicable taxes have been paid and no party received an undue advantage.”
Ivanka trump tweeted in response to the Times report on the investigations.
“This ‘investigation’ of the New York Democrats is motivated 100% by politics, publicity and rage,” she said. “They know very well that there is nothing here and that there has been no tax benefit.”
The White House did not immediately respond to Business Insider’s request for comment.
Regardless of the two investigations outlined on Thursday, Trump faces a myriad of legal battles when he steps down in January.
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