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Crime Donald Trump The Trump Organization

Trump’s Relocation To Florida Gives Prosecutors A New Weapon They Can Use Against Him

After he lost the 2020 election in historic fashion to President Joe Biden, failed, one-term, twice-impeached former President Donald Trump decided he wouldn’t return to New York, which had been his home for decades.

Instead, Trump took up residence at Mar-a-Lago, his Palm Beach, Florida golf resort.

But that change of residence may wind up biting Donald in a big way when it comes to the legal problems he’s facing from prosecutors back in the Empire State, according to Asawin Suebsaeng and Jose Pagliery of The Daily Beast:

“Law enforcement in New York has five years from the date of an alleged crime to officially file charges for most felonies, but under New York law § 30.10(4)(a)(i), that clock stops for up to five more years when a defendant is outside the state. That 10-year grace period means Trump’s time in the White House and his post-presidential political exile at the Mar-a-Lago estate in Florida may be gifting prosecutors much-needed extra time.”

Yes, by relocating Trump has added an additional five year timeframe for prosecutors, which is badly needed, especially for financial crimes involving a business empire as big and widespread as the ex-president’s. That gives those investigators a cushion that will allow them to take an even more extensive look at what crimes Trump and the Trump Organization may have committed.

Reportedly, investigators in New York are “poring over thousands of spreadsheets and financial records from the Trump Organization and slowly building a case against Trump for allegedly inflating property values, lying on business forms, dodging taxes, duping banks.”

There are currently two active investigations of Trump in the state of his birth. One is being conducted by the office of Manhattan District Attorney Alvin Bragg and the other is a civil matter under the purview of New York Attorney General Letitia James.

Former Manhattan prosecutor Adam Kaufmann said he cannot recall when New York has used the obscure statute in the past, but added it’s easy to prove that it applies to Trump:

“You don’t often have white collar cases that are so… old. It just doesn’t happen that much that you’re trying to get something from more than five years ago. It’s easy to prove he was not in the state of New York. There’s going to be records of where he was physically located every day for four years.”

So while Trump may have decided to abandon New York out of spite, that one decision may wind up being what screws him in the end. How’s that for perfect irony?

 

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Donald Trump The Trump Organization

Trump Will Have To Start Selling His Properties Just To Say Afloat: Report

Now that his accounting firm has dumped him and let the world know his financial statements are fake, failed former President Donald Trump is facing a money crunch like none he has ever experienced.

What will happen when banks refuse to refinance Trump’s massive loans because he can’t be trusted?

According to Susanne Craig of the New York Times, who has reported extensively on the twice-impeached ex-president, the only option Trump will have is to begin selling his properties.

Appearing on MSNBC, Craig explained the coming cash crisis for Trump and the Trump Organization:

“He has just in the coming couple of years, hundreds of millions of dollars in loans that he’s going to have to re-negotiate.

“He’s moved to at least get another firm in place at least for some of his accounting, but what happens to all these loans? If this was a public company, you’d be like, ‘Wow!’ It would just be so much trouble for them. I think their stock would tank. There would be so many ramifications.”

The first loan that comes due is for $100 million on Trump Tower, easily the most famous property Donald owns. But even if Trump is able to get it refinanced, other real estate holdings look much more troublesome, Craig continued:

“But there are other loans that are going to be more difficult.

“I think when he comes up against that, there could be some problems. Deutsche Bank has been signaling that they may not want to do new business with him. None of this is good news. and when you think about how he’s going to have to handle this immediate debt, there’s going to be potentially higher rates, and in some cases I wonder who the lender is going to end up being.”

Craig also pointed to Trump’s decision to sell his hotel in Washington, D.C., predicting that he’ll be dumping more properties in the near future:

“That’s the last asset that he actually put a lot into, and he’s selling it. He must need cash, or he wouldn’t be selling it. And I think we’re going to potentially see other asset sales here. Very few of the main assets, golf courses that he has, are making money. He’s got golf courses overseas, none of them are making money. It’s the exception when he has a business that is making money.

“I think that’s what you’re going to see as he moves forward in order to keep these other properties going. You start looking for where you can raise cash, and you do that by selling assets.”

Sounds like there’s about to be fire sale at Trump Org. And even that may not be enough to keep the company from going under.

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Crime Donald Trump The Trump Organization

NY AG Considering ‘Nuclear Option’ Of Dissolving Trump’s Company And Seizing Its Assets

Now that a New York judge has ordered failed, one-term former President Donald Trump and two of his children — Don Jr. and Ivanka — to sit for depositions within the next 21 days, the Trump family and Trump Organization are facing the greatest threat since Donald entered the real estate business in 1971.

In addition to facing both civil and criminal liability for allegedly inflating the value of properties to get larger bank loans and then undervaluing them when it came time to pay taxes, Trump is also looking at the total dissolution of his corporation and seizure of its assets by New York Attorney General Letitia James.

Former U.S. Attorney Barbara McQuade explained exactly how the law works in New York during an appearance on MSNBC’s “Deadline: White House.”

“You may remember that Corey Lewandowski, who was a former Trump campaign manager, famously said words to the effect of, ‘It’s not a crime to lie to the media.’ And that’s true, and I think Donald Trump has gotten away with that adage for a long time, but it is a crime to lie under oath at a deposition. And I think one of the reasons he has fought so hard to avoid this deposition is this is where truth matters, and so he can’t lie his way out of it, he can’t exaggerate out of it.”

If Trump and his children (all of whom are officers of Trump Org.) plead the Fifth Amendment and refuse to answer questions, McQuade continued, that opens them up to an even greater risk:

“So when he sits in that deposition chair as he has been ordered to do and as I’m sure will be affirmed on appeal, Donald Trump will face that comeuppance, where he has to tell the truth or assert a privilege like the Fifth Amendment privilege against self-incrimination, which he has said is something that is invoked only by mobsters and criminals, so he finds himself in a very difficult spot, because if he lies now, it does matter.”

The penalties might just be massive fines imposed by New York, McQuade explained:

“So the consequences there could be money damages — for example, if there are back taxes that are owed, if there were victims here, lenders who would not otherwise have made these loans who lost money in the deal — they’d have to pay damages.”

But there’s also another tool AG James has at her disposal: The nuclear option:

“But the nuclear option here is that Attorney General James actually has the power to dissolve corporations that are involved in widespread fraud. It’s what happened with the Trump Foundation, so it could even happen here with the Trump Organization. The other thing that could happen is this information could be used in the criminal case. We see the Manhattan DA investigating some of the very same acts under a criminal lens … which could also bring with it in addition to monetary penalties, potential prison time.”

Broke and in prison. That’s exactly where Donald Trump and his felonious spawn belong. Lock them up!

Here’s the video:

https://www.youtube.com/watch?v=vCRvpXPo33k&feature=emb_logo
 

Categories
Crime Donald Trump The Trump Organization

Trump Compounds His Legal Troubles By Issuing A Statement That’s Already Backfiring On Him

Donald Trump’s legal and financial troubles were bad enough, but a statement he issued regarding the ongoing investigation of him by New York Attorney General Letitia James is likely to make matters much worse for him, according to a former U.S. Attorney.

Newsweek notes that Trump lashed out at AG James with a long, rambling statement in which he tried to counter the accusations against him:

“The actions of the AG and DA, including the Radical Left Westchester County DA [Miriam E. Rocah] who was a Trump hating contributor at MSNBC, reveal the vile and malicious intent that underlies the nonstop barrage of insults and threats aimed at me and the Trump Organization, including their years-long review of over nine million pages of documents that go far beyond the Statute of Limitations.”

The failed, one-term former president also addressed the issue of his longtime accounting firm, Mazars, dropping him as a client and declaring that 10 years of financial statements from the Trump Organization cannot be “relied upon.”

“They were essentially forced to resign from a great long-term account by the prosecutorial misconduct of a highly political, but failed, gubernatorial candidate, Letitia James, and the Hillary Clinton run District Attorney’s Office of Manhattan, where crime has reached levels not even thought possible.”

That statement, former U.S. Attorney Joyce Vance said Wednesday evening on “The 11th Hour,” gives James a legal opening that is bad news for Trump:

“Well, you know Donald Trump has already been fired by his accountants this week, it looks like he’s trying to double down and get fired by his attorneys as well. Because what’s happened here, you have to remember the context is about whether or not Tish James is going to get to depose Donald Trump and the two of his adult children.”

Vance then suggested that Trump’s angry statement makes it more certain he and members of his family will be compelled to give depositions in the case against them:

“There is no reason he should be deposed. And he has contradicted his attorneys with so much specificity and detail in this written statement. Where he talks about valuation and says that he actually undervalued brand value and implies that there is a lot that he could offer in response to legitimate questions that Tish James has. And she has driven straight into that opening that he has given her. Making the point to the court that Trump has really engaged and a self own here, that he has made her case to depose him better than she could’ve. I think she’s going to get those depositions scheduled.”

As usual, Donald Trump is his own worst enemy. And his big mouth has taken him out of the frying pan and put him straight into the proverbial fire.

Categories
Crime Donald Trump The Trump Organization

The Trump Organization Is Facing A Legal ‘Death Penalty’ From New York’s Attorney General

Now that she has concrete evidence that Donald Trump and the Trump Organization have been engaged in systematic financial fraud, New York Attorney General Letitia James may be on the verge of imposing the legal “death penalty” on the ex-president’s corporation, according to a former U.S. Attorney.

Joyce Vance, who served as U.S. Attorney for the Northern District of Alabama from 2009 to 2017, was a guest on MSNBC, and she was asked by host Chris Jansing about news that Trump’s former accounting firm, Mazars, has dropped him as a client and declared that his financial statements cannot be trusted:

“So Joyce, let me go to the Trump Organization statement, which is that, ‘this confirmation effectively rendered the investigation by the [Manhattan] DA and the AG. moot.’ Does it?”

Vance replied:

“It absolutely doesn’t, Chris, and one of the intriguing issues here is how did New York’s attorney general come into possession of this letter, which was sent from Trump’s accountant to the Trump Organization? She’s not cc’d on the letter; your accounting firm doesn’t typically send business correspondence to the attorney general in your state.”

Vance added:

“So there’s a suggestion here that Mazars is engaged with the New York attorney general. This whole issue came up as [NY AG] Letitia James was trying to take the depositions of Donald Trump, Donald Trump Jr., and Ivanka Trump, and she’s been forced to justify that position by the Trump folks in the course of that litigation and this document has come out now.”

And then Vance explained how AG James can put a quick end to the Trump Organization:

“Details of other transactions that are highly questionable, and that may be sharp business practices or fraud, but James is likely to get her depositions, and she, of course, has jurisdiction under New York’s Martin Act to protect New York from sharp business practices. she has the authority to curtail businesses’ ability to operate, and even as she did with Trump’s charitable fund, to no longer permit them to operate in the state of New York. So the consequences here, just on the civil side, could be dramatic. The criminal investigation will proceed at its own pace.”

What is the Martin Act? It’s a piece of legislation passed in 1921 that is considered to be the “most severe blue sky law” in the country:

The Martin Act, as interpreted by New York courts, gives the New York State Attorney General exceptionally broad enforcement authority to bring both civil and criminal action without a showing of scienter or intent to defraud.

One of the penalties under the Martin Act is the complete shutdown of a business and forfeiture of its assets. That’s why it’s considered a legal “death penalty” if imposed.

Here’s hoping Letitia James does indeed shut down Trump Org. and then proceed to lock up every member of the company who was involved in this widespread fraud.