Tag: The Trump Organization

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Crime Donald Trump Eric Trump The Trump Organization

WATCH Eric Trump Whine: ‘They’re Going To Start Seizing Assets!’

Eric Trump is absolutely terrified, and it shows.

Appearing Sunday morning on Fox News with host Maria Bartiromo, the son of failed one-term former president Donald Trump whined that insurance executives who refused to provide bonding for the $464 million owed by the Trump Organization for fraud was asked, “I’m trying to understand how this number came about, $454 million or $464 million, and what the real number is.”

“You know what? It was a crooked number. There are no victims. There is no number. The number should be zero.”

“This is extraordinary,” he continued. “No one’s ever seen a bond this size. Every single person, when I came to them saying, hey, can I get a half-billion-dollar bond?”

Sounds a lot like his old man, doesn’t he? No one’s ever seen a bond this size. Hard to tell if he’s bragging or complaining. Probably a bit of both, knowing the Trump family.

Eric then asserted that he and his father had been laughed at.

“Maria, they were laughing. They were laughing. Top executives of the largest surety companies had never seen anything of this size. And what, they’re going to start seizing assets if he can’t put up something that’s not available in the United States?”

Yes, Eric, that’s how it works. You’re found guilty of fraud, assessed a financial judgment, and if you can’t pay they start seizing your assets. Seems like a so-called “businessman” would understand that, but since the Trumps have always had everything handed to them on a silver platter, they don’t even know the basics of finance or the law.

Starting Monday, New York Attorney General Letitia James will indeed start seizing assets — bank accounts and properties owned by the Trumps — to satisfy the court’s ruling, which proves that Donald Trump has never been as rich as he claims to be. If he’s a billionaire, shouldn’t he have a half-billion sitting in his bank accounts? Earlier this week, he claimed he did, bragging on social media, “Through hard work, talent, and luck, I currently have almost five hundred million dollars in cash.”

Eric, meanwhile, is upset because he knows his old man is about to be broke and his inheritance will be little more than an already besmirched name.

Maybe the Trumps can beg Vladimir Putin for some bucks/rubles. Either that, or perhaps the Russian dictator can provide the Trumps with a dacha in Siberia.

Here’s the video of Eric’s pathetic whining:

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Crime Donald Trump Donald Trump Jr. Eric Trump The Trump Organization

Donald Trump And His Sons Could Soon Face Tax Charges From The IRS

Having been found guilty of bank and tax fraud and fined $355 million by New York Judge Arthur Engoron, things could be about to take an even nastier turn for failed one-term president Donald Trump and his two oldest sons, Don Jr. and Eric, according to a former prosecutor.

After Engoron’s ruling, according to NBC News, New York Attorney General Letitia James issued a statement.

“Donald Trump is finally facing accountability for his lying, cheating, and staggering fraud. Because no matter how big, rich, or powerful you think you are, no one is above the law,” James said in a statement, calling the ruling “a tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules — even former presidents.”

The Friday ruling could also serve as the basis for new legal problems for Trump and the Trump Organization.

Legal analyst Catherine Christian told MSNBC host Ali Velshi that AG James has made it clear she will be passing along the findings that served as the basis for her case to the U.S. Department of Justice.

“If now the federal government, the Southern District of New York sort of passed on this publicly, but that does not mean that they can’t, as long as it’s within the statute of limitations take another look,” Christian explained.

“And clearly, the federal government, the Internal Revenue Service, they sort of never stop looking at you, and so yes, the AG’s office referred to it to other authorities, and it could be possible that each of the defendants, not just Donald Trump, his sons, [Allen] Weisselberg could be in legal jeopardy, even criminal jeopardy.”

If Donnie thought he had a bad day in court on Friday, just wait until the IRS starts seizing his bank accounts and properties to pay any taxes and penalties. By the time they’re finished with him, he won’t have a proverbial pot to piss in or a window to throw it out of.

 

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Donald Trump The Trump Organization

Trump’s ‘Cash Crunch’ May Force Him To Make A Humiliating Choice

As he gets closer to seeing a New York judge impose a fine that could be as large as $370 million, failed former president Donald Trump is also on the verge of having a make a choice that would be the ultimate humiliation for him.

That’s what New York Times investigative reporter Susanne Craig says she believes she has Trump so worried: He’s going to be forced to sell off his properties in order to pay the penalty for decades of lying on financial disclosure forms.

Appearing on MSNBC, Craig noted:

“The argument has been that he submitted these statements of financial condition in order to get better rates at the banks. And they went through some of the spending that Donald Trump has been doing recently. There have been a lot of renovations at three properties. He put $250 million into Doral and the old post office; he spent $225 million on renovations.”

In other words, Trump and the Trump Organization are facing a major cash crunch, Craig continued.

“Then secondly, I was listening to it because he is facing coming into a judgment with this judge of penalties going up to $370 million. We’re looking at the hundreds of millions of dollars range. The attorney general painted the picture that the cash position is not good. It also supports the analysis that we have done at The New York Times that he doesn’t have a lot of cash on hand to meet a penalty of that size.”

Trump’s only option will be to sell his properties in order to cover the massive court judgement, which led former federal prosecutor Andrew Weissmann to explain that the process could take place sooner rather than later, even if the ex-president decides to file an appeal.

“Very often the courts of appeals will require a cash bond. And so that issue of can he wait until the appeal is over to start paying this, that may not be an option.”

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Crime Donald Trump The Trump Organization

Letitia James Mocks Trump’s Latest Fraud Defense By Calling His ‘Experts’ Nothing But ‘Golf Buddies’

As she has repeatedly proven over the course of the ongoing fraud trial against former president Donald Trump and the Trump Organization, New York Attorney Letitia James has a factual retort for every so-called defense Trump’s legal team puts forth.

One of those witnesses sounded like he was testifying for the prosecution, according to Business Insider.

When it comes to Donald Trump’s estimates of his net worth, “questionable” and “inconsistencies” are words you’d expect to hear only from his accuser, the state of New York.

But on Wednesday, Trump’s third day of presenting defense witnesses for his Manhattan fraud trial, an expert accountant took the stand in the former president’s defense for a second day and used these very words to describe the creative math at the center of the case.

“It’s certainly a red flag for me,” testified the expert, Jason Flemmons, referring to an internal Trump Organization spreadsheet from 2016 displayed on overhead screens in the lower Manhattan courtroom.

And then there was Steven Laposa, who admitted that he isn’t an expert on real estate appraisals.

Laposa said the attorney general’s approach to valuation was “flawed” because it relied on a market value analysis of Trump’s properties. He argued it should have been based on the investment value, which takes into account the owner’s investment requirements.

When Laposa returned to the stand Friday, a lawyer for the attorney general’s office asked him if he had any experience reviewing personal financial statements. Laposa said no.

That led AG James to lay waste to the Trump defense, which is crumbling almost as quickly as the Trump Organization itself.

In a video she posted online, James noted that most of the people testifying in Trump’s behalf aren’t experts at all. They’re just golfing buddies.

“We heard testimony from their many expert witnesses, but they weren’t real experts.

“We did learn something. Several of these experts are longtime friends and golf buddies of Donald Trump.”

James then focused in on why she didn’t believe a word Trump’s defenders had said in court and under oath.

“Their accounting expert has never once worked on the types of financial statements at the heart of Donald Trump’s fraud,” she explained.

“Their expert on real estate finance admitted that he not only lacks experience in valuing real estate, but he also does not have any experience with the accounting standards and personal financial statements that this case revolves around.”

Some of the witnesses, James continued, do other connections to Trump: They’ve donated money to him and been buddies for years.

“One has donated millions of dollars to Donald Trump’s campaign and his son even got married at Mar-a-Lago. Another is a member of Mar-a-Lago and several other Trump golf clubs.”

Tish James is a boss, and she’s got Donnie’s number.

 

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Crime Eric Trump Social Media The Trump Organization WTF?!

Eric Trump Gets Brutally Mocked For Claiming His Family’s Assets Are The ‘Mona Lisas’ Of Real Estate

Social media erupted with laughter and mockery over the weekend in response to remarks made by Eric Trump in which he suggested the Trump Organization’s properties were the “Mona Lisas” of real estate.

During a Saturday appearance on Fox “News,” Eric insisted, “Our assets are worth a fortune,” and adding:

“They’re the Mona Lisas of the real estate world.”

Despite Eric’s protestations, New York Attorney General Letitia James has already received a judgement of fraud against the Trump Organization and the company could be hit with fines and penalties that exceed a half billion dollars, which would likely lead to the complete dissolution of Trump Org.

However, it was the Mona Lisa comparison that drew the most reaction on Twitter.