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Father's estate really looks like president trump and his siblings were, quote, dodging hundreds of millions of dollars in gift taxes by submitting tax returns that grossly undervalued those properties. that is the story told tonight in "the new york times" that has never been told before. it's laid out in great granular detail in this huge new investigation in "the times" tonight. also never told before, the story of a fake company that trump and his siblings set up, specifically to siphon money out of their dad's business, to siphon that money out of dad's business to pay themselves without ...

Im. he was never on the precipice of utter devastation. what to do out to it seems to me not the shattering of this myth. what to do out for me is how they did this and on whose backs they did it. the overt fraud was county building supply andmaintenance. all county's purpose was to be the purchasing agent to fred trump's buildings. it did no such thing. all counties siphoned millions of dollars by marking up purchases made by his employees. those millions, untaxed gifts rn, flowed to owners. fred trump used the padded county receipts to justify rend

Consultant. he gave him the laundry revenue from the buildings. even after this incredible generosity from fred trump to donald trump, there comes this moment that we discover in our reporting that there was one line that was sort of too far even for fred trump. it was when fred trump discovered that donald trump had hired lawyers to rewrite a portion of his will in a way that fred trump perceived could put his entire empire at risk. it would have given donald trump so much control over the empire that fred trump believed it would have allowed him to use everything that he had built for 70 yea...

>> shepard: at one point during the article, you write, "over time as donald trump careened from one financial disaster to the next, his father found ways to give him more money. even in 1990, mr. trump tried to have his father's will rewritten in a way that fred trump alarmed and angered and could result in his empire to be used to bail out his son's failing businesses." >> that was a huge surprising find for us. was what we were seeing is that fred trump through, you know, starting when donald trump was 3 years old and moving forward had been endlessly creative in coming up with new ways to ...

Donald trump in particular. so we actually traced the beginning of this wealth transfer to when donald trump was three years old, a toddler, and he was making the equivalent of $200,000 a year at age three. he was a millionaire by age eight. he was being given ownership in one of fred trump's apartment buildings at the age of 17, and fred trump found all of these different ways to basically pay his son not just when he was sort of getting started, but through his life. so he didn't just put him on his payroll but he also made him his consultant, he made him his banker, he made him his landlord...