YEREVAN, OCTOBER 4, ARMENPRESS. New York City will seek any taxes that President Donald Trump should have paid for money he received from his late father, Mayor Bill de Blasio said, following a New York Times report on the transactions, Bloomberg reports.

“It’s clear to me that there are real ramifications right now to what has been disclosed, either potential violations of law, or in cases where the statute of limitations has ended that there may be very serious civil penalties that can be applied by both the state and the city,” de Blasio said Wednesday. “The city of New York is looking to recoup any money that Donald Trump owes the people of New York City, period.”

The New York Times reported Tuesday that Trump received vastly more from his father than he has previously stated and that his father backstopped his son’s businesses during times of financial distress. The newspaper reported that the family used a variety of schemes -- some potentially illegal -- to minimize its taxes.

The newspaper said its findings discredited Trump’s claims that he’s a self-made billionaire who had received only a $1 million loan from his father.

The state Finance Department said Tuesday that it would open an investigation into the allegations. The department had previously begun investigating the president’s charity, the Trump Foundation.

De Blasio said the city and state would work together on the new probe.

Under New York and federal law, there’s no statute of limitations to pursue civil tax cases if authorities suspect an intent to evade taxes, according to Bloomberg.