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October 03, 2018 at 08:46 AM EDT

Stephen Colbert read the latest report from The New York Times about how President Donald Trump apparently isn’t the self-made millionaire he sold himself to be. “Let me get this straight,” the Late Show host exclaimed on Tuesday night, “at one point Donald Trump was an extraordinarily wealthy toddler — and today he is still that.”

Among the many details from its in-depth exposé, the Times reported that Trump and his siblings set up fake corporations in order to hide millions of dollars in gifts they were receiving from their parents from the IRS — “which is a crime,” Colbert reminded his audience. Trump allegedly received $413 million (by today’s standards) from his father and not the $1 million loan he previously claimed on the campaign trail.

“Hey, $413 million, $1 million, what’s the difference?” Colbert joked in his Trump voice.

Jimmy Kimmel also wasn’t surprised by Trump’s alleged shady dealings. “He’s not just a con man, he was a con baby first,” he joked to his audience.

Trump’s lawyers released a statement stating, “There was no fraud or tax evasion by anyone. The facts upon which the Times bases its false allegations are extremely inaccurate.”

“Gee, I wish there was a way to know for sure. Maybe some kind of a tax return that could be released or something to clear this all up,” Kimmel quipped. “Trump was getting millions of dollars a year from his father until he was in his 50s. Our president was a 50-year-old man who still got an allowance.”

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