Trump's $40 Million Financial Maneuvers Exposed a Massive Tax Bill
A court-ordered financial auditor has uncovered a discreet transfer of $40 million from the Trump Organization to a personal bank account by Donald Trump. This move appears to be aimed at covering a substantial $29 million tax bill owed by the former president. The transfer was made without notifying Barbara S. Jones, a former federal judge overseeing the Trump Organization's financial activities. Jones, who is monitoring the organization due to its questionable business practices, discovered the undisclosed bank transfers during a recent audit of its finances.
The revelation came to light as part of the ongoing bank fraud trial that poses a significant threat to the Trump Organization's existence. Justice Arthur F. Engoron had previously ordered the organization not to move funds to evade potential penalties. The Trumps were required to inform Jones of any transfer exceeding $5 million from the billionaire's extensive trust. However, they failed to adhere to this directive.
Jones and her team identified irregularities when scrutinizing 10 months of bank statements from 12 separate accounts linked to the Donald J. Trump Revocable Trust. It was uncovered that Trump withdrew $40 million through "three cash transfers" without notifying Jones. Upon inquiry, it was confirmed that $29 million was utilized for tax payments, while the remaining funds were allocated to cover legal expenses stemming from a jury verdict in May, which found Trump liable for sexual assault against journalist E. Jean Carroll and imposed a $5 million penalty.
