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As a presidential candidate, Trump had repeatedly said his father offered him a "very small" $1 million loan, which the turned into an empire.A sweeping new investigative report published by The new York time on Tuesday, however, claims Trump's father actually lent his kid at the very least $60.7 million.The time reports that the amount would be worth $140 million in today's dollars and also that lot of that was never repaid.

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During his very first debate against Hillary Clinton in September 2016, then-presidential candidate Donald Trump recurring a insurance claim he had often made prior to in defense that his picture as a self-made billionaire.

"My father offered me a very small loan in 1975, and I built it into a company that's worth many, countless billions the dollars," trump card claimed.


A sweeping brand-new investigative report released by The new York time on Tuesday, however, states that Trump's father, Fred Trump, had actually actually lent his boy at the very least $60.7 million.

Read more: brand-new York state tax authorities room looking right into the NYT article's claims around Trump

The time reports that the amount would certainly be worth $140 million in today's dollars and that lot of the was never ever repaid.

According come the newspaper's findings: "As for that $1 million loan, Fred Trump in reality lent the at the very least $60.7 million, or $140 million in today's dollars."

In the Times' piece, White home press secretary buy it Huckabee Sanders reiterated Trump's oft-repeated case that "The president's father gave him an initial $1 million loan, i beg your pardon he paid back."


Sanders added: "President Trump offered this money to build an extremely successful agency as well as net worth of over $10 billion, including owning few of the world's greatest real estate."

As a presidential candidate, Trump had actually cited the $1 million number on number of occasions.

"My whole life really has been a 'no' and I fought through it," Trump stated at a city hall event in October 2015. "It has not been easy for me, it has not been basic for me. And also you recognize I started off in Brooklyn, my father gave me a little loan of a million dollars."

The wall surface Street Journal had actually previously report in September 2016 that Trump owed his father and also his father's business around $14 million from plenty of loans as at an early stage as 1985.

The an extensive investigation, i beg your pardon The brand-new York Times claims was an ext than a year in the making, accuses trump card of "instances of outright fraud" as he and his dad manipulated the amounts of earnings they report to the government.

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Charles Harder, a lawyer because that Trump, denied any type of allegations of taxes violations in a statement, saying in the report, "The facts upon i m sorry The time bases that allegations are exceptionally inaccurate."

The White home did not immediately respond come audioeditorfree.com's inquiry for comment on the Times' investigation.