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President Trump repeatedly engaged tax schemes and sham transactions to grab his father’s fortune. Act II: Trump Palace

nytimes.com/interactive/20…

In 1987, $15 million that DJT owed his father was secretly converted into an investment in DJT’s new project.

The swap allowed DJT to avoid paying taxes on the excused debt.

After Trump Palace opened in 91, Fred Trump sold his shares back for just $10k.

The $15M debt to dad had vanished, washed through Trump Palace free of gift taxes. Not only that...

But Fred also took a $15M write-off on his income taxes - recovering part of the money he gave his son. Such related party write-offs are illegal.

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