Trump may have been secretly paying a third party through a $50 million loan, an ethics group has said.
Former President Donald Trump may be paying a 'secret third party' through a non-existent $50 million loan, an ethics group claimed.The issue arose after Barbara Jones, the court-appointed monitor overseeing Trump's companies, spotted that Trump had taken out a $50 million loan that might not have existed. She then reported it to Judge Arthur Engoron, who had fined Trump $454 million for falsely inflating the value of his assets.In February, Engoron found Trump, sons Donald Jr.
'Some reporting suggests that the deal could be part of a tax-avoidance scheme, known as debt parking, that has been used by taxpayers to purchase debt and then leave it in a separately-owned entity rather than incur tax liability on debt which has been forgiven.'It suggests that a company forgave more than $100 million debt on a project and Trump may have taken the money from one company and placed it into the Fortress loan to avoid paying tax.
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