Trump Faces NEW Investigation For Possible Tax Fraud

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Former President Donald Trump is now facing another investigation into potential tax fraud, this time involving conflicting valuations of his Trump National Golf Club in Westchester, New York. The investigation is similar to the other New York investigation, where it is believed that the Trump Corporation artificially inflated the value of the golf course to secure loans from banks, then lied about the value to pay less in taxes. Ring of Fire's Farron Cousins explains what's happening and why the walls might finally be closing in on the Trumps.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump and the Trump organization itself have found itself in yet another scandal involving potential tax fraud and possibly even bank fraud. This time happening in Westchester, New York with Donald Trump's Trump national golf resort Westchester. And there is an ongoing investigation records have been subpoenaed. This is real. And according to the receipts that are already available, it certainly appears that Donald Trump either lied to the banks, lied on his financial disclosure forms or lied to tax authorities in Westchester. My guess is that he probably lied on all three. So here's what's happening. Donald Trump's golf resort in Westchester has repeatedly been valued by the city at $15 million for tax purposes. And every year for the last few years, the Trump organization has come back and said, oh no, no, no, no, no, no. We're only worth about half of that. You know, we, we should put it at like seven and a half million, six and a half million.

So we don't have to pay as much in taxes. And they submit their paperwork. In one of those years, 2018, the paperwork was actually signed by Donald Trump junior himself and the city said, all right, if you you're telling us that's what the value is and you can't lie on these forms, we have to believe you. And so they lowered their taxes. The rest of the town had to cough up the remainder. And yeah, everybody's off in Westchester at the Trump national golf resort. But at the same time on Trump's financial disclosure forms for that year 2018, um, he valued the property at $50 million. So $50 million, seven and a half million, bit of a discrepancy there, right? And of course the city has also subpoenaed records to see what they told the banks the property was worth. Because if you lie about the value of a property on a bank loan application, that is of course bank fraud and that'll land you in jail even faster than tax fraud will.

So at the end of the day, he's lying on at least one of these forms. Again, I think it's probably a combination of the three, but he's lying. And the receipts are already showing us that. I mean, this is stuff that is readily publicly available and it already doesn't match. To me this investigation really seems like a slam dunk. The DA of Westchester is of course looking into this. This is now the third, the third investigation that is currently ongoing into potential bank fraud and tax fraud by Donald Trump and the Trump organization. Of course, we have the other two in New York City. You've got the big one with New York attorney general Letitia James looking into it. There's all kinds of investigations, right? And the interesting thing is they're all for the same thing, just for different properties.

So if one of these is established, if Westchester is able to prove via the documents that Trump was lying on these forms either to get a loan or to pay less in taxes or both, then it's likely this is not the only property he's done that with. You know, you don't own this many properties and then single out one random one.