► If there’s one thing Donald Trump has always excelled at when it comes to his business career, it’s taking on massive amounts of debt he used to further his real estate empire. Over the decades, Trump borrowed billions of dollars to finance his construction projects. Some of them panned out and made money. Many, however, were gigantic failures and left him on the brink of financial collapse. But one of those loans Trump has claimed on his taxes for years appears to have been little more than a ruse he’s leveraged in order to avoid paying taxes, according to a blockbuster report from Mother Jones:
“According to tax and financial experts, the loan, which Trump has never fully explained, might be part of a controversial tax avoidance scheme known as debt parking. A Mother Jones investigation has uncovered information that raises questions about the very existence of this loan, presenting the possibility that this debt was concocted as a ploy to evade income taxes—a move that could constitute tax fraud.”
Could that be one of the main reasons Trump doesn’t want anyone to see his taxes? And could he be under audit as he claims because the IRS is investigating whether or not they want to bring fraud charges against him and the Trump Organization?
The $50 million loan is alleged to have been used for a project located in Chicago:
“Trump claims he bought a debt related to his Chicago venture, but neither of the two loans associated with this property appear to have been purchased. The Deutsche Bank loan was refinanced. The Fortress debt, according to sources with knowledge of the transaction, was canceled. And this raises a question: Did Trump create a bogus loan to evade a whopping tax bill on about $48 million of income?”
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