Former President Donald Trump sued The New York Times on Tuesday over information published in 2018 about the family fortune and tax stratagems to reduce the tax burden. The lawsuit, filed in New York, also accuses his niece, Mary Trump, of violating a confidentiality agreement by disclosing tax information provided to her during a dispute over the inheritance of the former president’s father, Fred Trump.
The lawsuit directly accuses the ‘Times’ and three of its employees, Susanne Craig, David Barstow and Russell Buettner, of going after Mary Trump to convince her to hand over the documents, despite the fact that, say the former president’s lawyers, all three they knew that she had signed a confidentiality agreement.
As revealed in 2018 by the ‘Times’, Trump, amassed his fortune with at least 413 million dollars (357 million euros) received from his father for which he evaded a considerable amount of taxes. According to the aforementioned investigation, Trump’s parents donated more than 1,000 million dollars to their children, for which they should have paid about 550 million dollars in taxes. In addition, the Trump family benefited from a series of maneuvers to avoid the 55% rate applied to inheritances, and ended up paying just 52 million, 5% of what the law indicates. The president has three brothers. Two others died in 1981 and 1985.
The current president’s father, Fred Trump, died in 1999 leaving a fortune to his descendants. When his son Donald entered the real estate business in the 1970s, and needed cash, the father derived tens of millions of dollars from him. This contradicts Trump’s version that all he received from his family was a million dollars to start his business career. In reality, that number is at least 60 million, according to the ‘Times’ investigation.
Mary Trump revealed last year in her book “Always Too Much and Never Enough” that she herself gave reporters 19 boxes of documents about her uncle, whom she accuses of the humiliation and banishment of her own brother, Fred Jr., the father. of the author, who died in 1981 after a long battle with alcoholism. In the book, Mary Trump reveals that she agreed to hand over those documents because she was horrified by her uncle’s conduct as president. “I saw in real time how Donald smashed norms, jeopardized alliances and trampled the vulnerable,” he laments in the book.
In an interview with this newspaper a year ago, Mary Trump, who is a psychologist by training, said that her uncle “is incapable of doing anything other than self-interest, has no empathy, and experiences delusions of grandeur about his achievements and abilities ».
According to Donald Trump’s lawsuit, the defendants participated in a damaging plot to obtain confidential and highly sensitive records that they exploited for their own benefit and to falsely legitimize their publications.
In a statement to NBC yesterday, Mary Trump said of her uncle: “I think he’s a loser and all he knows how to do is put on shows for anything. It is despair. The doors are closing on him. A spokeswoman for the Times, Danielle Rhoads Ha, said by email that the lawsuit “is an attempt to silence independent media companies” and announced that the newspaper will defend the journalists before the judge.
The newspaper even revealed that Fred Trump gave his son 3.5 million by buying gambling chips in one of his casinos. That happened in the 1980s, when several of Trump’s companies, including his airline and casinos in Atlantic City, went into suspension of payments. During that difficult time for the now president, the father used his earnings to rescue his son’s businesses.
In 1987 Donald Trump owed his father $ 11 million. If they had been forgiven as a donation, you should have paid a considerable amount of tax. Instead, Fred Trump invested $ 15 million in one of Donald’s buildings and within four years sold his shares for $ 10,000 to his own son. In this way, a millionaire gift was made up as a ruinous sale for the father.
The truth is that the ‘Times’ has published a large series of investigations into Trump’s fortune and his dealings with the treasury. Before the elections, the newspaper revealed that for 10 years the income statement did not pay him and that in 2016 and 2017 he had to pay just $ 750 per year after withholdings. He later revealed that the president has bank accounts in China, Great Britain and Ireland, of which he did not disclose the balance. The Chinese account served to pay $ 188,561 (about 160,000 euros) in taxes to the Beijing regime for business in that country.