Category: The Trump Organization

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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 Eric Trump The Trump Organization

WATCH Eric Trump Almost Burst Into Tears During An Interview With Sean Hannity

Things are falling apart for the Trump family, and the stress of multiple investigations — paired with news that the Trump Organization’s longtime accounting firm has dumped the company and declared Trump Org’s financial filings are a lie — led Eric Trump go to on Sean Hannity’s show Monday evening and whine about how bad things are.

At a couple of points during the discussion, Eric even looked like he might start weeping at any moment.

Rather than defend his father and the Trump Organization, Eric Trump used deflection, suggesting that Hillary Clinton needs to be under investigation:

“Where are the prosecutors right now? You know, the same prosecutors, they’ll go after my father every single day for nothing, right? Just because they want to disqualify him because he’s clearly the front runner for 2024.

“Where are those prosecutors? Hillary Rodham Clinton is a New York resident. Let me just kind of break that down for you. She lives in Chappaqua, New York and guess where Trump Tower is located is located? It’s located on Fifth Avenue in New York. Where are these prosecutors? Where is the DA? Isn’t that a federal – Isn’t that a, you know, isn’t that fraud? Isn’t that all sorts of offenses?”

Seconds later, the ex-president’s son asked Hannity:

“Where’s Letitia James in this whole thing? Is she just gonna ignore this because Hillary happens to be in her political party?”

The “whole thing” Eric is referring to is a court filing by Special Counsel John Durham which right-wing media is attempting to prove is a smoking gun that proves Hillary was spying on Trump. Problem is, there’s nothing in that filing that suggests such a thing, as Dean Obeidallah noted on Twitter:

Attorney Marcy Wheeler also explained what a giant nothing burger the Durham filing is during an appearance on MSNBC Tuesday morning:

“One of the things [Durham] revealed in that, which I have heard from other people is this claim that Rodney Joffe was accessing data from the White House. All of that data precedes Trump’s inauguration, so you have Trump out there calling for these people to be put to death when really what happened is Rodney Joffe was trying to keep [then-president] Barack Obama safe from hackers. That’s all it is. That’s why Trump wants these people killed, Durham knows that.”

Poor Eric. He can sense that the walls are closing in on him, his father and two of his siblings, Don Jr. and Ivanka. So he’s lashing out and getting all weepy. He’d do better to keep his mouth shut and let his attorneys handle the matter. Instead, he’s giving prosecutors even more ammunition they can use against him and his family.

 

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Business Donald Trump The Trump Organization

Trump Organization Facing Financial Collapse After Accounting Firm Cuts Ties: Report

Now that his longtime accounting firm has given him the boot and declared that his financial statements cannot be believed, failed former President Donald Trump and his company, the Trump Organization, are facing a major financial crisis that could well send the real estate mogul’s business into collapse .

On Monday, Mazars USA LLP released a letter stating that the Trump Organization’s financial statements from 2011 through 2020 “should no longer be relied upon,” which suggests the ex-president’s company has engaged in systematic fraud in order to obtain large bank loans to keep Trump Org. afloat.

With nearly $600 million in loans coming due over the next four years, Trump is already trying to locate financing that will allow him to stay in business.

But banks are probably not going to be willing to help prop up a company that’s facing legal jeopardy on multiple fronts and has now been outed as having lied about its assets.

According to attorney George Conway, the former president is facing almost certain bankruptcy, telling CNN host John Berman:

“This is about as calamitous a thing as could happen to a business as you could imagine, other than getting indicted and going bankrupt, and this could lead to going bankrupt.”

Trump biographer Timothy O’Brien echoed Conway in an article he wrote for Bloomberg, noting:

The Trumps, like most real estate developers, rely on massive bank loans to finance their operations. Their company has more than $590 million of debt coming due within the next four years, and Trump himself has personally guaranteed more than half of it. Banks are likely to find it untenable to keep doing business with a company or individuals already rejected by their own accountants.

The Trump Organization is now on the brink of complete financial collapse, and it could be only a matter of months before indictments are handed down in New York against the former president’s company and other members of his family (Don Jr., Eric, and Ivanka) who work there.

Perhaps George Conway put it best with this tweet:

Categories
Crime Donald Trump The Trump Organization

Trump’s Longtime Accounting Firm Says His Financial Statements Are Bogus

Donald Trump and the Trump Organization’s longtime accounting firm has dropped him as a client because they say statements of his financial condition cannot be “relied upon.”

CNBC reports the news came in a court filing on Monday:

The accounting firm Mazars has fired the Trump Organization as a client after saying that a decade’s worth of statements of ex-President Donald Trump’s financial condition “should no longer be relied upon,” the New York Attorney General’s office revealed in a court filing Monday.

Mazars, which for years prepared Trump’s income tax returns and financial statements used to obtain loans for his company, told the Trump Organization’s top lawyer Alan Garten that it would no longer represent the company due to the lack of reliability of the financial statements in a letter last Wednesday.

The letter was cited by AG Letitia James’ office on Monday as it asked a state judge to order the Trump Organization, Donald Trump Jr. and his sister Ivanka Trump, and others to comply with subpoenas seeking documents and testimony.

Mazars also noted in their letter:

The firm said it based on its decision about the past work’s reliability, “as well as the totality of circumstances, we have also reached the point such that there is a non-waivable conflict of interest with the Trump Organization.”

The information from the accounting firm would seem to confirm accusations made against the Trump Organization that Trump and his company have repeatedly inflated the value of their assets in order to obtain larger loans which they then devalued when it came time to pay taxes.

Attorney Luppe B. Luppen had this to say about the move by Mazars:

“The determination by Mazars that Trump’s financial statements over a full decade are not reliable through no fault of its own amounts to a declaration that it has been repeatedly misled by its client.”

 

Categories
Crime Donald Trump Jr. Ivanka Trump The Trump Organization

New York Attorney General Tish James Lays A Nasty Burn On Don Jr. And Ivanka

 

It was recently revealed that New York Attorney General Letitia James has subpoenaed Don Jr. and Ivanka, the two eldest children of failed, one-term former President Donald Trump, for testimony as part of an ongoing financial fraud investigation being conducted by her office.

As you’d expect, the two Trump kids say they won’t comply with the subpoenas and have gone to court to have them quashed, according to ABC News:

Former President Trump’s eldest son and daughter have refused to comply with subpoenas issued by the New York State attorney general’s office as it conducts a civil investigation into the way the family real estate business valued its holdings.

“A dispute has arisen between the OAG and the Individual Trump Parties regarding the Subpoenas,” a document filed Monday said.

Despite the attempt to have the subpoenas quashed, most legal experts say courts will rule in favor of AG James because she’s investigating possible criminal behavior.

James also made it clear that all the stonewalling in the world won’t keep her from moving forward, sending out this tweet aimed directly at Don Jr. and Ivanka:

Sounds like Junior and Vanky had better start prepping for their depositions, and they’d better make damn sure they don’t lie under oath.