NATION : Detroit Mayor’s Tape Talks Taxes
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DETROIT — Mayor Coleman Young was recorded discussing how to legally declare as income millions of dollars he owned in real estate, diamonds and precious metals, according to a published report.
He talked about the holdings in tape recordings secretly made by Kenneth Weiner, a former deputy police chief on trial for his alleged role in a scheme to defraud investors in a precious metals business, the Detroit News reported Thursday. Young and Weiner were partners in Detroit Technology & Investments Inc.
The tapes focus on Young’s efforts to have the assets transferred to the company so they could be declared on his income taxes as income. The tapes don’t indicate how Young acquired the assets or whether the transfers took place.
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