Donald Trump may go before court over tax deal that deprived US Treasury of millions of dollars

Donald Trump
Donald Trump

Donald Trump may be brought to court after a Telegraph investigation found the Republican presidential nominee signed off a deal designed to deprive the US Treasury of tens of millions of dollars in tax.

Lawyers prosecuting some of Mr Trump’s closest business associates in a civil suit, which includes these allegations, believe there may now be cause to include Mr Trump as a defendant. Frederick Oberlander, the lawyer executing the legal action, said the Telegraph’s disclosures included “new” and “relevant” information which may show that Mr Trump shares culpability.

The lawsuit, which was recently unsealed by a judge, claims that executives at Bayrock, the property development firm behind the Trump Soho hotel in New York, sought to evade tens of millions of dollars in taxes in connection with that and other schemes.

One of the main allegations centres on a deal between Bayrock, which operated out of Trump Tower, and FL Group, an Icelandic company.  The court case, which will be heard in the New York Supreme Court, alleges that Bayrock sold a $50 million slice of the company, but disguised the sale as a loan to escape paying tax liabilities, estimated in the complaint to amount to $20 million. READ MORE OF THIS STORY

SOURCES: The Telegraph/NewsNow

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About Cholo Brooks 16867 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.