Tucked into a footnote in a letter written by former federal judge Barbara Jones, the court-appointed special monitor overseeing Donald Trump’s New York business fraud case is a bombshell that appears to indicate the former president may have engaged in massive tax evasion, according to a new report released by The Daily Beast.
From the Daily Beast article:
If true, that would essentially be an admission from the Trump Organization that all the financial disclosures Trump has filed with the federal government listed an entirely fictional debt worth tens of millions of dollars, which Trump claimed he personally owed to one of his own companies.
Asked to comment on Jones’ letter, Alan Garten, chief legal counsel for the Trump Organization, told The Daily Beast that her claim—that the company confessed to the loan never existing—was inaccurate and the loan did in fact exist.
Yet all of Trump’s financial disclosures, including his most recent amended version approved by the OGE last October, clearly state that it was Trump who owed Chicago Unit Acquisition LLC. He’s consistently listed his debt as more than $50 million, in the form of what’s known as “springing loan”—a loan with unfavorable terms to the borrower.