Tax and legal experts say leaker of Trump tax returns could face prison time

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WASHINGTON D.C. – At the end of September, an anonymous source leaked President Trump’s personal tax returns to the New York Times. 

Now, tax and legal experts are warning that the person who has leaked this information has committed a felony, and could face prison time. In addition, the person could face civil action from Trump, should he decide to pursue legal action. 

Joseph diGenova, a former U.S. Attorney for the District of Columbia told Just the News:

“If you obtain tax information, first of all, if you obtain it from the government — that’s 100% a crime if it was an IRS worker.”

He went on to say:

“If it’s an accountant or a lawyer who gets it as part of their duties and discloses it, that’s also a crime. It’s a different type of crime, it could be fraud, or it could be all sorts of different types of crimes. Obviously it’s theft of the property and then the illegal disclosure.” 

diGenova said if the leaking was done by a lawyer, “it’s grounds for disbarment,” and if it was an accountant, “they can lose their license to practice as a CPA.”

He said:

“But they also have defrauded their clients, so that’s a criminal offense, and when you release your client’s confidential information, you defraud your client,

“And then there’s all sorts of other types of crimes you could use, but it’s mail and wire fraud.”

According to Just The News, diGenova also said a Justice Department investigation to discern who leaked the returns —including whether it was a government official in the state of New York, Trump’s longtime former residence — could be initiated by the Southern District of New York or the Brooklyn U.S. Attorney of the Eastern District of New York, “both of whom are extremely unfriendly to Trump.”

Due to the fact that President Trump never seems to get a fair shake at anything because of the extreme bias against him, diGenova recommended that Attorney General William Barr’s office in Washington, D.C. oversee any investigation out of the DOJ’s tax division.

On Monday, September 28th, Republican Kevin Brady (R-TX), who is the top Republican on the U.S. House Ways and Means Committee, issued a public statement calling for an investigation into the potentially criminal leak of Trumps private tax information. 

Brady said in the statement:

“While many critics question the article’s accuracy, equally troubling is the prospect that a felony crime was committed by releasing the private tax return information of an individual — in this case the president’s,”

He continued:

“To ensure every American is protected against the illegal release of their tax returns for political reasons, I am calling for an investigation of the source and to prosecute if the law was broken.”

Within the report of President Trumps tax returns, the New York Times’ Dean Baquet issued a statement saying:

“Some will raise questions about publishing the president’s personal tax information. But the Supreme Court has repeatedly ruled that the First Amendment allows the press to publish newsworthy information that was legally obtained by reporters even when those in power fight to keep it hidden. That powerful principle of the First Amendment applies here.”

According to Just The News, Richard Roth, founder and managing member of the Roth Law Firm in New York, likewise said if the leaker obtained the returns legally, “then there is nothing wrong with delivering them to the press.”

Roth said:

“Remember, the press runs on legally obtained information,” 

He continued:

“If it is in the hands of someone other than POTUS or the government, then it is fair game. Privileges and confidentiality is premised, under the law, on the right to privacy concept. Once they are released, that privilege is waived and the documents are fair game.”

He finally said:

[However], “if they were illegally released by the IRS, the New York State Attorney General’s Office or another authority, then there may be some illegality in releasing the information Roth said,. While, in that instance, they could be prosecuted, the dilemma Trump has is that, in prosecuting that person, the truth will be revealed.”

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The media is suggesting that Trump’s tax returns are illegal, but are silent over Biden’s tax avoidance.

Over the weekend, the New York Times ran a “bombshell” story about how evil Donald Trump is, and now they have his tax returns to prove it.

Yet, as was the case with every single charge, the left levied against him during the impeachment, they have ZERO criminal activity to point to.

But in a move that surprises no one, the media has said nothing about the Biden’s using current tax laws at both the state and federal levels to avoid paying taxes on millions of dollars of income. 

The biggest thing that they can stand on is unfounded accusations that in 2016 and 2017, the President only paid $750 in federal income tax. Why?Because he was a real estate developer.  

Yet, the left is convinced that the President’s tax returns are a bombshell news item. 

But at the end of the day, he did not evade taxes. He avoided paying taxes, which is no different that what every single American does every year when the claim every exemption, deduction and credit that they can legally take. 

Town & Country ran an article in August discussing the net worth of Joe and Jill Biden, saying that Joe was worth less than $30,000 when he left the Vice-Presidency in 2009. Now he and his wife are now worth roughly $9 million.

But it also states that in 2017 and 2018, they had a combined income of over $15 million. 

Interestingly enough, the article claims that most of their wealth is tied up in real estate.  

It stated:

“The bulk of the Biden’s wealth is in real estate, but they have a portfolio of investments too.”

Forbes published:

“The Bidens’ two homes in Delaware are worth a combined $4 million. The site also notes that they have ‘cash and investments worth another $4 million or so’ as well as a $1 million federal pension.”

Wait, the Biden’s avoided paying taxes on millions of dollars and have a large real estate portfolio AND President Trump avoided paying taxes on millions of dollars and has a huge real estate portfolio.

And yet the only one of those two that is being accused of wrong doing is the President? 

Sure. That makes total sense. 

The Wall Street Journal’s Chris Jacobs took a hard look at the tax situation of the Biden’s for an article. 

Jacob’s writes: 

“According to their tax returns, in 2017 and 2018, the Bidens…avoided payroll taxes on nearly $13.3 million in income from book royalties and speaking fees. They did so by classifying the income as S-corporation profits rather than taxable wages.”

And it wasn’t just the Wall Street Journal. Even CNBC picked up the story. 

It was headlined: 

“Joe Biden used this strategy to trim his tax bill. You can, too.”

Are you starting to smell the irony and hypocrisy? 

According to the piece on CNBC, written by Darla Mercado, explained it succinctly. 

“The former vice president and 2020 presidential contender and his wife Jill Biden reported about $10 million in income in 2017 from a pair of S-corporations, CelticCapri and Giacoppa. The two entities were paid for the couple’s book deals and speaking gigs.

The S-corps reported another $3.2 million in income in 2018.

While both S-corps generated a lot of income, they paid out modest salaries  in comparison.

In 2017, the two companies paid the couple a combined $245,833 in wages. This increased to $500,000 in 2018.”

For the record, Obama tried to close the loophole that the Bidens took advantage of.

In essence, the couple made $12,454,167 in 2017 and 2018 that they did not pay taxes on.

Not only did the escape paying federal taxes, they also did not pay Social Security tax and Medicare tax. At a combined rate of 15.3%, that means they avoided paying almost $2 million in just Social Security and Medicare. 

What does that boil down to? Well, base on average benefit distributions, the taxes that the Bidens avoided could have paid would fund the entire year for 104 recipients. 

At the end of the day, they did not break any laws by doing what they did. They used the system to reduce their tax burden. 

And we do not blame them. We all do what we can to reduce the bill to the IRS or increase the total if we get a return. 

Nor do we blame the President for doing what he could to reduce his tax burden. But, for some reason, the left seems to think that the tax returns somehow give them leverage over the President. They have been calling for him to release the records ever since he descended down the Trump Tower escalator to announce his candidacy. 

But, much like they didn’t care about John Kerry avoiding paying large amounts of tax, they do not care about Biden doing the same thing. 

Nancy Pelosi has built a net worth of over $140 million over the 33 years she has been in office at the federal level. 

According to scholarlyoa.com:

“As of January 2020, Nancy Pelosi’s estimated net worth is $140 million. A vast majority of her money was accumulated from her political activity. Naturally, her job allowed her to earn serious money for a long time. She had a really great salary because of her working as a House Speaker for four years.

When she doesn’t work as a politician, she is operating a real estate business along with her husband. Their private business is worth $20 million. She’s been in high places throughout her whole career. You need to have in mind that surely, this wasn’t an easy job.”

They say that she has accumulated much of her wealth from “political activity.” The real estate group she runs with her husband is reportedly worth $20 million. So, her personal net worth is around $120 million. Not bad for someone who has been in politics since they graduated college in 1962. 

Even she has said that she would not provide returns to show how she built so a massive portfolio…unless she makes a run for the Oval Office. 

In the meantime, in the wake of the Supreme Court decision regarding President Trump’s tax returns, Speaker of the House Nancy Pelosi said she would release her records, if and only if she runs for the office of the President. 

Pelosi said on a conference call:

“When and if I decide to run for president, I will most certainly release my tax returns.” 

Just a few hours earlier, she was praising the the highest court’s decision, which allows a New York prosecutor to review President Trump’s personal finances as part of an investigation by a grand jury.

At her weekly Capitol Hill press conference on Thursday, Pelosi said:

“The Supreme Court, including the president’s appointees, have declared that he is not above the law. A careful reading of the Supreme Court rulings related to the president’s financial records is not good news for President Trump.”

It shouldn’t be good news for anyone that the court can require personal records to essentially be made public, which is what would happen if Pelosi and the Democrats have their way on their “Beat Trump at All Costs” world tour. 

Pelosi and her husband have a net worth of at least $120 million. Not bad for a woman who has been in politics at the federal level since 1987. The 80-year-old is serving her second stint as Speaker of the House. 

According to Breitbart

“Pelosi’s refusal to release her own tax returns comes as federal loan data released by the Trump administration earlier this week shows companies connected to her husband received hundreds of thousands of dollars from the Paycheck Protection Program (PPP).”

The PPP was designed to help with financial relief to business suffering shortfalls as a result of the Coronavirus pandemic. 

According to the Speaker, she believed that the funds were not going where they needed to first, to the vulnerable small businesses in America. It would seem that, for once, Speaker Pelosi was correct to be concerned.

Recently it was learned that a business connected to the Speakers husband, Paul Pelosi, received a sizeable amount

The business in question is EDI Associates, who received a loan anywhere from $350,000 to $1 million from the PPP. 

Paul Pelosi reportedly owns 81% of the company according to Drew Hammill, a spokesman for the Speaker.  Apparently, the Speaker did not heed her own warnings in ensuring small businesses in America received money before larger ones. 

Bloomberg News reported:

“Nancy Pelosi’s spokesman described Paul Pelosi as an investor in the firm, which turned up in loan-level disclosures for the program that were released Monday by the Treasury Department and Small Business Administration. […]

“EDI Associates is listed as a recipient of a loan between $350,000 and $1 million. The same company was listed in Nancy Pelosi’s latest House financial disclosure report filed in May 2019, for the year 2018.  […]

“EDI Associates is listed in Pelosi’s disclosure form as located in Sonoma, California. It’s identified as a limited partnership with an investment in the El Dorado Hotel. The value of the asset on the form — identified as belonging to Pelosi’s spouse — is listed as between $250,001 and $500,000.”

Pelosi is not alone in receiving funds in some manner from the PPP, as many as four other House members received monies from the program.  Susie Lee and Debbie Mucarsel-Powell, both democrats, and Roger Williams and Vicky Hartzler, both republicans, have some type of connection with companies that received funds. 

There are reports of those companies either being run by family members or employing the significant others of House members as executives.

The Small Business Administration had a rule allowing members of the house to sidestep a review process designed to stop this type of situation occurring.  One should question why such a measure was put in place, allowing House members to not have to request approval in gaining funds from the PPP in which they have more than a 10% interest.

Senator Joni Ernst, a Republican from Iowa, recently pushed forward legislation which would require anyone in the House and their family members to disclose if a loan was received. 

Senator Ernst stated:

“The PPP has saved countless businesses and the jobs of millions of Americans, but those in Congress who are voting on it – or any issue – where a potential conflict of interest may exist need to be upfront about it.  The only reason to oppose this bill is if you have something to hide.”

In addition to the House members’ information being disclosed, Monday’s report also proved that the Congressional Black Caucus Foundation and the Congressional Hispanic Caucus Institute both received PPP loans between $350,000 and 1 million dollars. 

A spokeswoman, Erica Southerland, for the Congressional Black Caucus released a statement regarding the request and expenditures of the loans from the PPP that the money was used to assist only with eligible expenses. 

Southerland stated:

“Without this assistance, the CBCF would have faced a 30% reduction in the overall organizational budget impacting more than 25 employees.  In addition, the CBCF provides paid, need-based fellowship and internship opportunities to equip future leaders and increase diversity on Capitol Hill.”

It seems in this instance, Speaker Pelosi and her colleagues may well have created a way in which to ensure that companies they have some type of major interest in receives funds from the PPP. 

An idea the Speaker herself warned that President Trump would engage in to enrich him and his family members. 

So, to recap, we have members of congress and even congressional groups receiving the federal funds meant to keep the American people employed. Since Pelosi and her gang of Trump-haters are so interested in Trump’s financials, perhaps they should take a cue from this piece of financial insight. 

President Trump has not accepted a penny of his salary, instead putting it back into the operating budgets of different federal agencies. He was doing this prior to the pandemic-driven economic nightmare.

Yet, members of Congress are watching Americans lose their jobs and struggle to pay bills while accepting their salaries (and loan money meant for small American businesses), while many of them are worth millions or hundreds of millions. 

So much for servant-leadership, huh Nancy?  


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