Reply to Blockbuster NY Times Investigation - Trump's Tax Schemes To Gain Riches From His Father

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[quote=Anonymous][quote=Anonymous]No matter how complicated the tax laws are, this one seems pretty tough to finesse:

18 days before Fred Trump Jr.’s death, the Trump siblings had submitted Park Briar’s co-op conversion plan, stating under oath that the building was worth $17.1 million. As executors, they gave it a date of death valuation of $2.9 million.

So, the same people claimed in separate legal documents that, on September 26, 1981, the real estate was worth $14.2 million less than it was worth on September 8, 1981. That's a helluva roller coaster. [/quote]

The Trumps also enlisted the help of a corrupt appraiser Mr. Von Ancken.  He worked with the Trumps for decades and was reliable at undervaluing or inflating property values depending on who the family was defrauding, either the IRS, HUD, state of NY, or some unsuspecting buyers or the tenants of their buildings.

"Of all the GRAT appraisals Mr. Von Ancken did for the Trumps, the most startling was for 886 rental apartments in two buildings at Trump Village, a complex in Coney Island. Mr. Von Ancken claimed that they were worth less than nothing — negative $5.9 million, to be exact. These were the same 886 units that city tax assessors valued that same year at $38.1 million, and that a bank would value at $106.6 million in 2004."[/quote]

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