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'This Smells Like a Crime': NYT Probes How Trump Got Rich

Investigation finds alleged tax avoidance and fraud
By Neal Colgrass,  Newser Staff
Posted Oct 2, 2018 7:40 PM CDT
Updated Oct 3, 2018 6:33 AM CDT
President Donald Trump smiles as he pauses while speaking during an Hispanic Heritage Month event, in the East Room of the White House, Monday, Sept. 17, 2018, in Washington.   (AP Photo/Alex Brandon)

(Newser) – President Trump, a self-made man? Not according to a New York Times report that he received at least $413 million in today's dollars from father Fred Trump's business empire, often by dodging taxes in the 1990s—and sometimes by committing flat-out fraud. Trump says his dad only lent him $1 million, but interviews with Fred's ex-employees and reviews of over 100,000 documents from his real-estate business tell a different story. Trump apparently earned $1 million a year in college and over $5 million annually by middle age under various job titles, and also received money via unpaid loans, trust funds, shares, and other means. More darkly, the Trumps may have dodged taxes by undervaluing buildings and creating a business that siphoned millions through phony invoices. "All of this smells like a crime," says a former Manhattan DA's investigator of the invoice plan. For more:

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