Categories
Crime Donald Trump The Trump Organization

New Evidence Of Trump’s Tax Fraud Points To More Indictments Coming Soon From Prosecutors

Just last month, the very first indictments were handed down from the office of Manhattan District Attorney Cyrus Vance, Jr. against both the Trump Organization and the company’s Chief Financial Officer, Allen Weisselberg. Those indictments were based on evidence found in corporate and tax documents which suggest the former president’s company routinely paid employees off the books by agreeing to provide other gifts of value (private school tuition, cars, luxury apartments) that were never disclosed by either the recipients or the company.

And now we have even more evidence of tax improprieties, according to a report from The Daily Beast which alleges that Weisselberg’s son, Barry, was also showered with goodies that tax authorities knew nothing about because neither Barry Weisselberg or Trump’s corporation reported them as required by law:

“Barry Weisselberg is the longtime manager of the Trump-owned Wollman ice rink in Central Park. Details about the financial arrangement, as well as tax returns showing that the additional income was unreported, were delivered to the New York attorney general and Manhattan district attorney by Barry Weisselberg’s ex-wife, Jennifer Weisselberg. And The Daily Beast has reviewed the material, which includes a decade of tax returns and statements of net worth.”

“Specifically, as he admitted under oath during divorce proceedings, Barry Weisselberg lived in a “one-bedroom flat in Manhattan’s expensive Upper East Side” during 2018.”

“It’s a corporate apartment that I was given temporarily,” he testified under oath in August 2018, adding that he had no clue if rent was being paid.

Whether rent was being paid or not is irrelevant because the apartment clearly had value and therefore not reporting it was part of a larger tax avoidance scheme:

“That deal was described as a tax-dodging ‘scheme to defraud’ in the June 3 indictment against the Trump Organization and his father, the company’s chief financial officer. In it, prosecutors said the pad had ‘no reported rent at all.’ The indictment noted that the company ‘intentionally failed’ to report that income or pay associated taxes to federal, state, and local government agencies.

“’The value of the lodging provided to [Allen] Weisselberg’s family member constituted income to that family member,’ the indictment reads.”

Barry Weisselberg wasn’t named in the July indictments from the grand jury sitting at the request of Vance’s office, but it’s believed prosecutors may be using the threat of charging him in order to get his father to cooperate and tell what he knows about illegal actions committed by the former president and members of his family who are also intimately involved in the running of the Trump Organization. Namely, Don Jr., Ivanka, and Eric.

 

More indictments are coming from Vance’s grand jury. And it’s safe to speculate that Donald Trump’s name will be on them. After all, it’s his company and he and his three oldest children have run it for decades.

All of the evidence that has been disclosed in court filings suggests there’s some very bad days ahead for the Trump family and their company. For now, all we can do is wait for the next shoe to drop.

Categories
Crime Donald Trump

New York Attorney General Believes Trump Committed $21 Million In Tax Fraud

Subpoenas filed by New York Attorney General Letitia James suggest that former President Donald Trump may have committed tax fraud totaling over $21 million for a property he owns in Westchester County, New York, known as the Seven Springs Estate.

The Daily Beast has seen the subpoenas and reports that the Trump Organization may have fraudulently adjusted the value of a conservation easement for the Seven Springs property, taking a $21.1 million tax deduction in 2015 for the easement:

“Investigators asked for a trove of documents related to Donald Trump’s failed attempts to develop a luxury golf course on a 212-acre, forested estate that spans across those three towns and includes several mansions.”

The towns where the Trump property is located — Bedford, New Castle, and North Castle — handed over the documents requested by investigators in the subpoena.

James isn’t the only legal authority on the trail of the easement Trump took in 2015 for the Seven Springs property. Manhattan District Attorney Cyrus Vance Jr. also asked for information related to the matter, according to The Daily Beast’s report. Specifically, Vance subpoenaed “items like planning board meeting minutes, which would help show whether Trump ever really stood a chance at building on the land, and they sought records dating back more than 15 years in some cases.”

All of this comes on the heels of a report from the Washington Post earlier this week which revealed that Vance has already empaneled a grand jury in Manhattan for the specific purpose of issuing indictments for crimes that may have been committed by Trump and his company. Since Vance is retiring at the end of the year, most legal experts believe the Manhattan grand jury is on the verge of handing down indictments against Trump, his three eldest children, and other top officers of the Trump Organization.

Whatever happens in the months ahead, it seems the Seven Springs estate will play a major role in any charges are brought against the former president.

 

Categories
Business Donald Trump Money Uncategorized

Trump Org. CFO Is On The Verge Of Going Down For Tax Fraud – And Taking The Donald With Him: Report

On Tuesday evening, the New York Times reported that the Chief Financial Officer of the Trump Organization, Allen Weisselberg, is on the verge of being indicted and that the charges could come down as soon as this summer:

“In recent weeks, a grand jury has been hearing evidence about Mr. Weisselberg, who is facing intense scrutiny from prosecutors as they seek his cooperation with a broader investigation into Mr. Trump and the Trump Organization, the people with knowledge of the matter said. The prosecutors have obtained Mr. Weisselberg’s personal tax returns, the people said, providing the fullest picture yet of his finances.”

If Weisselberg does indeed wind up being charged, according to former federal prosecutor Elie Honig, that could also wind up bringing down former President Donald Trump.

During an appearance on CNN shortly after the Times story broke, Honig remarked:

“We’re on the brink of two make-or-break decisions. First, prosecutors will need to sit down, assess all their evidence and decide, do we have enough evidence to indict Allen Weisselberg? If so, then the big decision is, does he flip? Whether he flips will mean everything for this investigation. He’s the exact right person to target to try to flip. He’s in the inner circle, the only person not named Trump who is in the inner circle of the Trump Org. If they flip him, he can open up a universe of evidence.”

That led host Erin Burnett to inquire:

“What is this new reporting from The New York Times, what does it tell you about the types of charges Weisselberg could be facing, especially when you’re getting into this issue of prison time?”

Honig replied:

“Prosecutors seem to be looking to make tax charges against Allen Weisselberg. The charge is that he was paid by the Trump Organization not with a paycheck, but in the Trump Organization paying for tuition, for cars, for apartments. That can be a lot of income. Normally that kind of income is taxable. If they were doing this to try to get around the taxes, to try to beat having to pay taxes, that could be a tax fraud charge.”

Honig added that the prison time Weisselberg could be facing would help determine if he agrees to flip on Trump and tell what he knows to prosecutors:

“A lot is going to depend on the amount here. Tax fraud charges can be as minor as a misdemeanor under New York state law, meaning nobody is going to flip on a misdemeanor, you don’t go to jail. Or they could be up to seven years per year of tax fraud. He could be looking at very little time or very serious time. That’s going to be a huge factor when deciding whether to flip.”

There’s another possibility that Weisselberg has to take into consideration: That Trump will flip on him in order to save his own ass. That alone should give Weisselberg all the motivation he needs to cooperate with investigators.

Here’s Elie Honig on CNN:

 

Categories
Crime Donald Trump

Transcripts From Trump’s Former Court Cases Show How He’ll Be Convicted On Tax Charges

Sometime later this year, failed, one-term president Donald Trump will be in a courthouse facing charges related to his finances and the finances of his company, the Trump Organization.

Based on testimony Trump has given in previous court cases, the upcoming legal challenges he faces could be a slam-dunk for prosecutors who are investigating him on charges ranging from money laundering to tax evasion.

CNN obtained transcripts of Trump’s former court appearances, and one thing seems safe to say: Trump has left a trail of statements that will probably doom him the next time he faces an indictment:

“Donald Trump once said he calculated his net worth, to a degree, on his ‘feelings,’ and that he put the ‘best spin’ on some of the assets.

“‘I think everybody’ exaggerates about the value of their properties. ‘Who wouldn’t?’

Did he inflate values? ‘Not beyond reason,’ Trump said, insisting he gave his ‘opinion’ to a key associate and ‘ultimately’ let that person make the decision, according to an exchange in a 2007 deposition.

“The exchange takes on fresh meaning this spring as Manhattan prosecutors investigate whether Trump’s ‘best spin’ was common practice in local real estate circles — or if he crossed the line into illegal activity.”

Prosecutors say it’s often difficult get convictions on financial crimes because it’s so hard to prove beyond a reasonable doubt that a suspect “intended to defraud someone through misstatements.”

But it’s not hard to prove when you have the person’s own words which were given under oath. If Trump was lying in 2007, he can be charged with perjury. If he didn’t lie, then his prior statements can be used to bolster the argument that he’s been a cheat for decades and also give them a road map as they build their case against him this time.

Trump also said in 2007 that he often massaged the numbers on his financial statements to suit his own purposes:

“During the deposition, Trump was questioned over Seven Springs where its value nearly doubled in one year from $80 million in 2005 to $150 million in 2006.

“The property was valued very low, in my opinion, then and it became very — it just has gone up,” Trump said.

“He was asked if he had any basis for that view, other than his own opinion.

“‘I don’t believe so, no,’ he said.

Donald Trump is a pathological liar. He’s also a grifter and a con man. Those qualities could all but guarantee he’s convicted on several crimes.

 

Categories
Crime Donald Trump

Manhattan DA Sets Up Task Force To Investigate Trump’s Alleged Financial Crimes

Manhattan District Attorney Cyrus Vance Jr. is clearly taking his investigation of Donald Trump to the next level and is setting up a special task force to take a long look at the president’s taxes and business dealings, according to Charles Gasparino of Fox Business.

Mediaite reports that Gasparino told Neil Cavuto Vance’s office has already conducted interviews with banking officials, including German financial giant Deutsche Bank, which has loaned Trump hundreds of millions of dollars over the years despite him being a poor credit risk:

“I think there is an insurance company involved, Aon,” Gasparino continued. “So this thing is heating up. I can’t tell you if they have good evidence, I can’t tell you if they have bad evidence. I can tell you that they’re clearly turning the levers now. This is rubber meets the road time on this.”

Such an investigation would seem to confirm remarks made by Trump’s former attorney, Michael Cohen, who told CNN in September that the president often inflated his assets for the purposes of insurance and then fail to pay the required taxes on them:

“The fact that he doesn’t report the income that he claims, his wealth is not as significant, and I believe that they were probably very lenient in how they took deductions. His biggest fear is if that tax return was released, there’s a whole slew of organizations, of accountants and forensic accountants that will rip through it and he will end up with a massive tax bill, fraud penalties, fines, and possibly even tax fraud.”

If you want to know why Donald Trump is so terrified of no longer being president, you don’t have to look any further than his taxes. That’s where the crimes are and those the documents that will wind up sending him to prison.