Lawyers Say Trump Taxes Show No Russia Ties With "Few Exceptions"

14 May, 2017, 09:49 | Author: Priscilla Morrison

The latest happenings of President Donald Trump.

Lawyers for President Trump said Friday that a review of his last 10 years of tax returns did not reflect "any income of any type from Russian sources". The law firm did not release copies of the returns, rendering its assessment of the documents impossible to verify independently.

In comments similar to what's reflected in his lawyers' letter, Trump told NBC Thursday, "I have no investments in Russian Federation, none whatsoever".

"Maybe I'll release them after I'm finished, because I'm very proud of them actually", Trump told the Economist.

South Carolina Sen. Lindsey Graham said in that hearing that he wanted to find out more about Trump's dealings in Russian Federation after James Clapper, the Director of National Intelligence under President Obama, said that he could not discuss the issue because it "impacts an investigation".

After President Donald Trump fired now former FBI Director James Comey, many speculated that the motives behind this move had a lot to do with the agency's investigation into Russia's alleged interference in the 2016 presidential election.

"There are too many ways that it could be misleading and incomplete, Shaviro said".

Likewise, a USA business would not invest directly in a Russian entity but would likely do so through a foreign corporation. Asked whether he would release them, he replied: "I doubt it".

First, Trump raked in some cash from the 2013 Miss Universe Pageant, held near Moscow.

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But Democrats and some tax experts said the letter did little to quell their concerns and doesn't conclusively rule out some of the ways Mr. Trump could have Russian business ties.

Then in March, investigative reporter David Cay Johnston provided details from Trump's 2005 federal income tax return to MSNBC's Rachel Maddow. What they found on a fact-based money trail reveals much about who the real Trump is and how he operates.

The unnamed Russian billionaire cited by the Trump company's lawyers is Dmitry Rybolovlev, whose financial empire springs from his companies' production of potash, often used for fertiliser. "We see a lot of money pouring in from Russian Federation".

"And in terms of high-end product influx into the US, Russians make up a pretty disproportionate cross-section of a lot of our assets; say in Dubai, and certainly with our project in SoHo and anywhere in NY".

Jack Blum, a Washington tax lawyer who is an expert on white-collar financial crime and worldwide tax evasion, called the Dillon letter "meaningless". Trump also owes no debt to Russian lenders, the firm said. Those sorts of transactions are traditionally done through third parties in other countries, such as Cyprus or the Cayman Islands, Rosenthal said.

"Russians would not loan directly to Trump or his businesses". He has no business in Russian Federation. The president said, "I have no investments in Russian Federation, none whatsoever".

It was sent to Republican Senator Lindsey Graham, who sits on the Senate Judiciary Committee, which is investigating Russian interference in the US presidential election. On Thursday, President Trump floated the idea of waiting until after his presidential tenure to make his returns available to the public. Dillon's new letter is hardly worth the paper it's printed on, raising as many questions about Trump's business activities as it answers.

Trump said in an NBC interview this week that he does not have investments in Russian Federation, while noting the sale of the mansion and the Miss Universe pageant. Lindsey Graham, R-S.C, asserting the president had no business interests in Russian Federation. (D-N.J.), immediately seized on the letter.

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