Donald Trump reported nearly $1 billion in operating losses over a two-year period about a decade ago, an accountant testified at the criminal trial of the Trump Organization.
SCOTUS cleared the way for the handover of former President Donald Trump's tax returns to a congressional committee after a 3 year legal fight.
The accountant, Donald Bender, a partner at Mazars USA, the firm that prepared tax returns for Trump and his company, testified Tuesday that Trump reported losses each year for 10 years from 2009 to 2018.The disclosure at the Manhattan trial of Trump's family business came the same day the U.S. Supreme Court ruled that the IRS is requiredProsecutor Susan Hoffinger questioned Bender about Trump's taxes during cross-examination as the trial nears an end.
"Do you recall in 2010 Donald Trump had losses of almost $200 million on his personal tax returns?" Hoffinger asked."Do you recall in 2009, Donald Trump had, his personal tax returns had losses around $700 million?" Hoffinger followed.The staggering losses belie the reputation Trump has carefully tried to cultivate as a shrewd and successful businessman.
Weisselberg, who has pleaded guilty and testified pursuant to a plea agreement with prosecutors, has aided the defense by saying he hatched the scheme out of his own greed and Trump was unaware. He also testified that the scheme helped the Trump Organization reduce its payroll taxes, assisting the Manhattan District Attorney's Office prove there was a benefit to the company.
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