Trump denies claims IRS lawsuit was used to create $1.8 billion fund
Trump denies allegations that his $10 billion IRS lawsuit was part of a scheme to establish a $1.8 billion fund for political purposes, according to a Bloomberg report.Summary
President Donald Trump's legal team denied claims that his $10 billion lawsuit against the IRS was used to create a $1.8 billion fund for alleged victims of political 'weaponization,' as reported by Bloomberg. The lawsuit, filed in 2019 over unauthorized disclosure of tax returns, led to a settlement that included provisions protecting Trump from future tax investigations. A group of 35 former federal judges alleged the fund was a sham to benefit Trump allies, prompting U.S. District Judge Kathleen Williams in Miami to consider reopening the case. Acting Attorney General Todd Blanche stated the government would not proceed with the fund due to criticism, though one settlement element remains in effect. The legal dispute continues with separate lawsuits and a Virginia judge blocking actions related to the fund during ongoing litigation.
(Source：Investing Australia)