A top American daily has alleged that President Donald Trump was engaged in suspect tax schemes as he reaped riches from his father Fred C Trump, the legendary New York City builder.The New York Times said that Trump, who assumed office of the President of the United States in January, 2017, won the presidency proclaiming himself as a self-made billionaire, and he has long insisted that his father, Fred Trump, provided almost no financial help.

"But The Times' investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr Trump received the equivalent today of at least $413 million from his father's real estate empire, starting when he was a toddler and continuing to this day," the daily claimed. Much of this money, the daily claimed, came to Trump because he helped his parents dodge taxes.