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Trump to Court for Deal with FL Group?

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Trump to Court for Deal with FL Group?

Donald Trump

Donald Trump. Photo: commons.wikimedia.org/Wikipedia

According to the Telegraph, Donald Trump may be brought to court for signing off a deal with Icelandic company FL Group in 2007 in order to avoid US taxes. A Telegraph investigation found that the deal was done to deprive the US treasury of tens of millions of dollars in tax.

Frederick Oberlander, a lawyer executing a legal action against some of Trump’s business associates, believes there may now be reason to include Trump as a defendant. He said the Telegraph’s disclosures include “new” and “relevant” information which may show Trump’s culpability.

One of the main allegations focuses on a deal between Bayrock, which operated out of Trump Tower, and the Icelandic company FL Group. The court case alleges that Bayrock sold a USD 50 million (EUR 45 million) share in the company to FL Group, but later labeled the sale as a loan to escape USD 20 million (EUR 18 million) in taxes.

The Telegraph revealed earlier this year that Trump approved labeling the sale as a loan, despite warning signs suggesting it might be improper to do so.

Oberlander told the Telegraph that at first, no evidence suggested Trump was culpable in fraud. “However,” he stated, “in the time since we filed it, as his candidacy has progressed, new, relevant Trump and Bayrock information has surfaced, from sources including Mr Trump himself, which in our opinion has significantly changed that calculus.”

Trump’s lawyer, Alan Garten, told the Telegraph that his client “had nothing to do with that transaction.

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