Category: Business

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Business Crime Donald Trump The Trump Organization

Trump Is ‘Terrified’ New York Fraud Case Will Put Him ‘Out Of Business’: Report

Why does failed one-term, twice-impeached, and multiply-indicted former president Donald Trump continue to show up at his New York fraud trial even though he isn’t required to and may not even testify on his own behalf for fear he’ll commit multiple counts of perjury?

According to conservative attorney George Conway, the answer is simple: The disgraced ex-president is terrified he’s about to lose everything he owns if a massive financial settlement is awarded to the state.

Appearing on MSNBC’s “Morning Joe” Monday morning, Conway was asked by co-host Mika Brzezinski, “Am I wrong in my analysis that he is showing up at this civil fraud trial a lot because this one gets him where it really hurts?”

“Yes, I fundamentally agree with that. I think it is even more, in a way, fundamental; this puts him out of business. This case is putting him out of business,” Conway concurred.

He added, “That’s his essence. I think that he’s just terrified that, you know, he’s not going to have the Trump Tower, he’s not going to have all the things he has bragged about for decades, for his 60, you know, for six decades. It’s going to be gone.”

‘He won’t be able to run a business, and the question is, how much money is he going to be allowed to keep from that?” Conway said. “That, to him, is striking at the core of Donald Trump.”

Conway also addressed the increasing court fines imposed on Trump by New York Judge Arthur Engoron for violating a gag order. Will those fines continue to increase?

“Yes. The fines can get bigger and bigger,” Conway said. “One method that has been used by courts in the past to enforce criminal contempt sanctions or civil contempt sanctions is to keep increasing the fines geometrically. You know, 1000, 10,000, 100,000. Justice Engoron could keep ramping those figures up. He certainly has a record to do that, having basically had Trump violate the order multiple times right under the just the judge’s nose in the courthouse.”

 

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Business Donald Trump The Trump Organization

Forbes Flattens The Former Guy After He ‘Demands’ They Apologize For Their Reporting

Though he loudly proclaims himself to be a “great businessman” who has made a fortune in the real estate business, that’s far from the truth, as we learned recently when Forbes magazine dropped failed former president Donald Trump from their ranking of the richest people in the United States.

As the magazine explained, the Trump Organization has taken some major reversals in recent years, and that’s mainly the result of moronic business decisions made by the Donald:

His net worth is down more than $600 million from a year ago. The biggest reason: Truth Social, his social-media business. Trump once envisioned a significant percentage of the country logging onto the platform. But that never happened. Roughly 6.5 million have signed up so far, about 1% of the total on X (né Twitter). Trump’s 90% stake in Truth Social’s parent company has plummeted in value from an estimated $730 million to less than $100 million.

Even though the article removing Trump from the richest Americans list was published weeks ago, Donnie lashed out on Truth Social two days ago, posting an unhinged screed:

“I hereby demand a full apology from the failing Forbes Magazine, and their third-rate psycho writer, Dan Alexander, for the many false and libelous articles they have written about me, and for the cooperation they have given to the Racist and Incompetent A.G. of New York State, Peekaboo James.

“[Forbes] is owned by the Communist Chinese Government, and China will do anything to stop MAGA. Forbes, a Globalist ‘Rag,’ is a propaganda play against TRUMP.”

Boo hoo! You want some cheese with that whine, Dotard?

That led Forbes senior editor Dan Alexander to respond to the disgraced ex-president on Twitter.

“Hey Donald Trump, if you want to point out a single false fact in any of the articles I’ve published about you—or in the book I wrote about you—feel free. In the meantime, I’m going to keep reporting—and carefully fact-checking every word I publish.”

Trump has yet to reply to Alexander, probably because he knows he has no facts to refute what Forbes has said about him.

Once again, we see what a pathetic wimp Donald Trump is and always will be. He’s a little man who’s terrified of the legal jam he’s in and likely to spend the rest of his life behind bars.

Donnie, you’re in no position to “hereby demand” anything, especially since the entire world knows what a failure you are.

 

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Business Crime

New York AG May Impose ‘Corporate Death’ On The Trump Organization

Letitia James is the Attorney General for the state of New York, and that makes her one of the most powerful prosecutors in the country, especially since she’s making it clear that she intends to “use every area of the law” as she investigates the president, his family, and his business, as NBC News has reported:

“New York law allows the attorney general to seek restitution and damages — and, in extreme cases, dissolution — if a business is found to have engaged in persistent fraud. There’s also the Martin Act, a 1921 statute designed to protect investors.

“Past attorneys general have used the Martin Act, considered to be the U.S.’s toughest such state statute in this realm, to expand their powers in the financial crimes sector. The law empowers the attorney general to subpoena witnesses and documents for information pertaining to possible fraud.”

 


As many crimes as the Trump Organization is suspected of having committed (Trump University was just the tip of the iceberg, experts say), AG James could use a legal sledgehammer as she goes about bringing charges against the president’s company, which just so happens to be run by his two eldest sons, Don Jr. and Eric. And that could prove especially catastrophic for the Trump business empire. The power wielded by James under the laws of New York could even be used for a “judgment of corporate death” if she chooses to seek the total dismantling Trump’s holdings in real estate and other businesses.

 


The New York AG has already signaled the direction she plans to pursue, at least initially, having subpoenaed banks that do business with Trump as a way of seeing inside the Trump Organization and Trump’s bank accounts.

Something James told MSNBC host Ari Melber should be of special concern to the president and anyone with connections to the Trump Organization:

“Most of (Trump’s) business activities are performed in New York, he engages in business in New York, he operates in New York and it’s really critically important that New Yorkers as taxpayers — it’s really critically important that we understand and know whether or not he devalued his corporations and he received some tax benefits thereof, that he engaged in false claims against New Yorkers.”

 


Letitia James is going after Trump on numerous fronts. But it’s her investigation of the Trump Organization that could well pose the greatest legal danger to him.

 

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Business Donald Trump The Trump Organization

Trump’s Financial Lies Just Got Him Booted From The World’s Most Exclusive Club

The same financial lies that have gotten disgraced, multiply-indicted ex-president Donald Trump in big trouble with the state of New York now have him in hot water with the most exclusive club in the world: The Forbes 400 ranking of America’s richest people.

Forbes announced today that as a result of Trump’s “relentless” lying to reporters for decades in a pathetic attempt to boost his ranking on the list, he has now been dumped from it completely.

His net worth is down more than $600 million from a year ago. The biggest reason: Truth Social, his social-media business. Trump once envisioned a significant percentage of the country logging onto the platform. But that never happened. Roughly 6.5 million have signed up so far, about 1% of the total on X (né Twitter). Trump’s 90% stake in Truth Social’s parent company has plummeted in value from an estimated $730 million to less than $100 million.

The failed former president is also failing badly on the real estate front, Forbes reports, with his Trump branded properties down in value by a staggering $170 million. That figure could be increasing by even more as the state of New York has also banned Trump and the Trump Organization from doing business in the state and are seeking at least $250 million in financial damages for the crimes allegedly committed by the company.

Is anything going well in the business world for Trump? Well, his golf clubs are at least making money.

As fewer people spend time in the office, more are goofing off on the golf course. That’s especially good news for Trump National Doral, the former president’s most valuable golf property, purchased for $150 million in 2012. Trump commenced an extensive renovation of the Miami resort, reportedly injecting more than $200 million of additional cash, before politics spoiled his investment.

The Donald has been off the list before, only to slither back onto it years later, Forbes notes.

In the 1990s, Trump took out enormous loans that resulted in well-publicized bankruptcies. He made a comeback from that but fell off once more in the midst of the Covid pandemic which hit the hotel and travel industry hard, leading to gigantic losses that he hoped would be offset by the launching of his Truth Social platform, which has been a total bust, with only 6.5 million users. That’s about 1% of the total who are on Twitter. Overall, Trump’s 90% stake in Truth Social’s parent company has fallen in value from $730 million to less than $100 million.

Can Trump reinvent himself this time and make a financial comeback? Considering that he’s 77 years old and facing decades in prison, it seems beyond impossible, especially for a man who doesn’t have an ounce of truth in his enormous, bloated body.

 

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Business Crime Donald Trump The Trump Organization

Michael Cohen: New York Fraud Ruling Leaves Trump Financially F**ked

 

Michael Cohen served for years as a personal attorney and fixer for failed ex-president Donald Trump, and he’s warning that a summary judgement handed down Tuesday by a New York judge against Trump and the Trump Organization means the Donald’s financial house of cards is on the verge of total collapse.

Cohen was a guest on CNN, and host Kaitlan Collins asked if Trump can pay the $250 million judgement, which will likely be closer to $600 million with interest and penalties. Cohen responded, “No.”

“So all of those assets will end up going into some form of receivership,” Cohen added. “As a result of the receivership, those companies will end up being liquidated, especially now that this case is no longer solely about… liability. The judge has already determined that the fraud existed.”

Cohen also noted, “If you want to get to Donald, the way to do it is through his bank book. It’s not by saying he’s a narcissistic sociopath or that he’s definitely not 6’3″ and he’s not 215 pounds; you go after the wallet.”

“Once you start hitting that bank book, that’s what really gets to him.”

Asked about Trump’s claim that the brand name is worth more than the judge realizes, Cohen had this to say:

“When it comes to the value of the brand, sure, there’s a value of the brand. What’s the value of the brand now? Obviously significantly less. But if you’re talking about the asset, what does the brand value have to do with over-inflating the square footage of your primary residence by triple on Fifth Avenue to 33,000 square feet when the unit is actually 11,000 square feet.”

Here’s the ugly bottom line for Donald Trump and the Trump Organization: They’re screwed. Donnie is about to be broke, and it should be fun to see how long his attorneys continue to defend him when he can no longer pay their fees.