Tag: Letitia James

Categories
Donald Trump The Trump Organization

Letitia James Has The Perfect Response When Trump Calls Her A ‘Racist’ At NY Fraud Trial

Ever since New York Attorney General Letitia James first filed suit against failed former president Donald Trump, accusing him and his company, the Trump Organization, of financial fraud, the ex-president has been constantly attacking the AG, accusing her of being a “racist” because she’s black and he’s white and even nicknaming her “Peekaboo” James.

Until today, James had not responded to Trump’s many insults and taunts, but she more than made up for her previous silence with what she said during a break in the trial that could financially destroy the Donald and his family-owned company.

According to Stewart Bishop of Law360, James let loose, remarking:

“He’s called me venomous, he’s called me disgraceful, he’s called me a radical, he’s called me a racist and this is only week three. None of this, which can best be described as performative, can change what’s happening in the courtroom.”

She added:

“And the evidence is clear, that he inflated his statements of financial [condition] to enrich himself and his family. And nothing will change that, not the attacks on me, or anyone.”

Tish James is absolutely right, but she forgot some other terms that also perfectly describe the one-term, twice-impeached former head of state:

  • Bigot
  • Pathological liar
  • Pervert
  • Loser
  • Indicted criminal
  • Douchebag

When the fraud trial is over with, it’ll be fun to see what else James has to say about Donnie.

 

Categories
Crime Donald Trump The Trump Organization

Trump Organization Facing Legal ‘Death Penalty’ From New York 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.”

https://www.youtube.com/watch?v=b7-NExoEcIg&feature=emb_logo

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.

 

Categories
Crime Donald Trump The Trump Organization

New York AG On The Verge Of Dismantling Trump Org. With ‘Corporate Death Penalty’

On Tuesday, attorneys for disgraced former president Donald Trump withdrew a lawsuit against New York Attorney General Letitia James challenging her investigation of the Trump Organization.

But despite that move, it’s now clear that James is on the verge of applying New York’s “corporate death penalty” against the failed ex-president’s company, a move that would forbid Trump Org. from ever operating the Empire State again, according to The Daily Beast

It’s called Executive Law 63 (12) and it gives states attorney generals the right to impose stiff penalties on companies to fight fraud.

“The language is broad. It talks about persistent fraud and illegality,” said Bob Abrams, who served as New York attorney general from 1979 to 1993. “She has the authority to protect the public from scammers.”

Scammers who hatch ideas such as Trump University for the sole purpose of taking advantage of people for financial gain without providing anything of value.

As a result of her investigation of fraud by Trump Org., James is seeking to impose $250 million in fines and revoke the company’s business credentials completely, meaning Trump would never be able to do business in the state again, even though New York is the headquarters for his corporation, which is run by the former president and his three eldest children, Don Jr., Ivanka, and Eric.

The judge in the case, Arthur F. Engoron, has already signaled that he would be agreeable to imposing the death penalty on Trump Org., writing in one of his rulings:

“Executive Law § 63 (12) broadly empowers the Attorney General of the State of New York to seek to remedy the deleterious effects, in both the public’s perception and in reality, on truth and fairness in commercial marketplaces and the business community.”

How soon could all of this happen? Likely sometime this year since many of the initial court hearings and rulings have already been handed down, including one which found that Trump Org. did indeed inflate the value of properties in order to get larger bank loans and then devalue them to avoid large tax bills.

The Trump Organization is about to become little more than an afterthought, and that’s bad news for the entire Trump family, which has enriched itself over the decades as a result of their corporate grifts and scams.

Tish James is preparing to drop the hammer on Trump and his company. And when she does, you’ll be able to hear Donald crying all the way across the country.

Categories
Crime Donald Trump The Trump Organization

New York AG Letitia James Catches Trump Trying To Hide Assets And Hits Back In Court

New York Attorney General Letitia James just caught failed, one-term, twice-impeached former president Donald Trump trying to shift and potentially hide his assets as she pursues a civil case against him and his company, the Trump Organization.

CNBC reports that James went to court to keep the ex-president from moving assets to a holding company he recently created.

The New York Attorney General’s Office on Thursday asked a judge to bar former President Donald Trump from moving his businesses to a new holding company he formed amid a pending civil lawsuit accusing him, three of his children, and the Trump Organization of widespread fraud.

That request is spurred by concerns that the AG’s office would have difficulty getting Trump to pay a fine, if he loses the suit, as a result of his assets being held by a company that is not named as a defendant in the case.

On Sept. 21, the same day that Attorney General Letitia James sued Trump and the other defendants, her office saw that the Trump Organization had registered with New York’s secretary of state a new company, called “Trump Organization II LLC.” That new firm is incorporated in Delaware.

James made her filing in Manhattan Supreme Court, writing:

“Beyond just the continuation of its prior fraud, the Trump Organization now appears to be taking steps to restructure its business to avoid existing responsibilities under New York law.”

James also asked Judge Arthur Engoron to order Trump and his company not to use “a new statement of his business’ financial conditions in dealings with lenders and insurers.” Her concern is that he will once again use fake valuations in order to avoid having to pay fines and penalties if found guilty at trial.

“There is every reason to believe that the Defendants will continue to engage in similar fraudulent conduct right up to trial unless checked by order of this Court.”

Some have suggested that the civil case against Trump could result in his company being liquidated and its assets sold in order to pay the massive penalties that may be imposed by the court.

 

Categories
Crime Donald Trump The Trump Organization

NY Says Trump Inflated Value Of Mar-a-Lago By 10x – That Could Mean Seizure Of The Resort

When New York Attorney General Letitia James announced that she was filing a civil lawsuit against Donald Trump, his three eldest children, and the Trump Organization for fraud, one of the things she mentioned as an example of the alleged fraud committed involved the ex-president’s Mar-a-Lago resort in Palm Beach, Florida.

The Washington Post reports:

The lawsuit, filed in New York Supreme Court, is the result of a more than two-year investigation by James and names 23 properties in the Trump Organization portfolio, including his Mar-a-Lago Club in Florida, his Seven Springs estate in Westchester County, N.Y., and the D.C. hotel he leased from the federal government until he sold it in May.

“The inflated asset valuations in the Statements cannot be brushed aside or excused as merely the result of exaggeration or good faith estimation about which reasonable real estate professionals may differ,” it says.

Here’s how James explained the way Trump overvalued Mar-a-Lago:

And the suit says Trump valued his Mar-a-Lago club property in Palm Beach, Florida, on the false premise that it sat on unrestricted property and could be developed for residential use, even though he allegedly knew that asset was subject to a slew of tight restrictions.

Mar-a-Lago “generated less than $25 million in annual revenue,” James said. “It should have been valued at about $75 million, but it was valued at $739 million.”

But the real danger for Trump, his family, and his company is that James has a weapon at her disposal that would allow her to impose what’s know as the “corporate death penalty” in the Empire State, as was first reported by Business Insider last month:

Fines and back taxes, however, may be the least of what Trump’s facing. James has signaled she will also seek the dissolution of the business itself under New York’s so-called corporate death penalty — a law that allows the AG to seek to dissolve businesses that operate ‘in a persistently fraudulent or illegal manner.’

In the coming months, James will be turning up the heat on the Trumps. And by the time she’s finished, the Trump Organization could be nothing but a bad memory.