Tag: The Trump Organization

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Crime Donald Trump WTF?!

Trump Is Reportedly ‘Thrilled’ By Trump Org. Indictment Because He Thinks It Will Hurt Biden

Failed, one-term former President Donald Trump is reportedly “thrilled” that the Trump Organization and Chief Financial Officer Allen Weisselberg were indicted by Manhattan District Attorney Cyrus Vance Jr. because he believes the move will hurt President Joe Biden.

WTF?!

Politico reports that during a conference call with his advisers, Trump sounded delighted by the upcoming indictments:

“The former president was on a conference call with his advisers Monday discussing his favorite topic — revenge — when he was interrupted with an update on the Manhattan D.A.’s investigation. He would not be personally indicted, Trump was told — only Weisselberg and the Trump Organization would be. Trump was thrilled by what he saw as light charges, and according to one of the advisers on the call, his mind raced to 2024.

“’Just wait until 2024, you’ll see,’ Trump said. The former president implied that the legal case would be seen as a political witch hunt that would backfire on Democrats. ‘This is going to hurt Sleepy Joe.’

“The adviser had the impression that Trump, who was already coming off a high from the large crowd at his rally in Ohio last weekend, was emboldened by the news. ‘Now he’s definitely going to run for president” again,’ the person said.”

Of course, it pays to remember that this is the very same Donald Trump who thought being impeached would help him get reelected and also told advisers that his response to the COVID-19 pandemic had been exceptional.

Perhaps Trump thinks he won’t be indicted. If so, that proves the depths of his self-delusion. Someone inside the company is going to agree to testify against him, and if he filed tax returns with his signature on them, he’s screwed.

As for Trump running in 2024, that’s going to be difficult to pull off from a prison cell.

 

Categories
Crime Donald Trump

Legal Experts: Upcoming ‘Crime-A-Thon’ Charges Will Bankrupt Trump And ‘Topple’ His Company

Earlier today, we learned that the Trump Organization “will be criminally charged” by this time next week, according to reports from the New York Times and NBC News.

In their report, NBC News noted:

“The Trump Organization is expected to be hit with criminal charges as soon as next week by Manhattan District Attorney Cy Vance’s office in a case that Trump attorneys say is tied to tax-related conduct, multiple people familiar with the matter tell NBC News.

“’It looks like they are going to come down with charges against the company, and that is completely outrageous,” Ron Fischetti, an attorney for the Trumps, said after the development was first reported by The New York Times.

“‘I’ve been practicing for over 50 years, and I’ve never seen a case like this.'”

If indeed the former president’s corporation — which is privately owned and controlled by him and his three eldest children, Don Jr., Eric, and Ivanka — winds up being charged with crimes such as bank and insurance, and tax fraud, it could prove disastrous for the Trumps and the company itself, which is reportedly on the edge of financial collapse.

Shortly after the news broke about the pending indictments, several experts weighed in on the matter.

Trump biographer Tim O’Brien said news that the Trump Organization will be charged is significant:

David Corn, the DC bureau chief of Mother Jones, noted the irony of Trump being destroyed for failing to pay his taxes is indeed rich considering the blood on his hands:

And NBC legal analyst Ari Melber predicted that criminal charges will bankrupt Trump and destroy his company:

No matter how you slice it, it certainly looks like karma is coming for Donald Trump, his family, and his allegedly corrupt corporation. It’s about damn time.

 

Categories
Crime Donald Trump

Former Watergate Prosecutor Reveals What Will ‘Wipe Out’ The Trump Organization

Even though he faces at least 10 civil lawsuits (E. Jean Carroll’s defamation lawsuit, Summer Zervos defamation suit, Mary Trump’s fraud lawsuit, etc.) a former White House prosecutor says it won’t be any of those actions that will leave the Trump Organization bankrupt.

Jill Wine-Banks appeared on MSNBC and noted that while any of the 10 civil suits could result in multi-million dollar settlements, they won’t be what eventually bankrupts Trump and his company:

“His popularity has diminished greatly. His properties are of less value now. Many buildings are taking the name Trump off of them because it is a deterrent to people, either playing golf at his golf courses or a deterrent to people buying condos in his buildings. So, it will hurt his bottom line both in terms of penalties — think about how many millions he may owe the federal government on the long-festering audit that he said was the reason he couldn’t turn over his financial records. Think about the bank loans that we know are coming due, and his income has gone down as best everybody can tell from all the reporting.”

Those bank loans, Wine-banks continued, are an enormous threat to Trump’s financial bottom line:

“So, where is he going to get the money to pay back those loans, and now a lot of banks will simply not lend to him anymore. So, how is he going to change the source of income to pay back the original lender with new lenders? So, it could totally wipe out the Trump Organization. There are some questions about some fraud in real estate and in defrauding people who bought condos. All of that mounts up, and eventually, the money runs out. So, he should be worried not just about whether he will be charged with a crime and whether a jury will convict him, but with being bankrupted.”

One of those loans is from Deutsche Bank, and it totals $340 million. The German bank has cut its ties to Trump and has also hinted it will seize the former president’s assets if he cannot come up with the millions he owes.

Business is way down at Trump properties, thanks in part to COVID fears and because the Trump name is now poison due to his failures as president.

The Trump Organization is hanging by a thread financially. And in the next few months we could see it collapse completely.

Here’s the video from MSNBC:

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Corruption Crime Donald Trump Ivanka Trump

Sworn Deposition Shows Ivanka Lied Under Oath

When she was asked under oath in a sworn deposition she gave regarding possibly illegal fundraising and spending by the 2017 Trump inaugural, Ivanka Trump appears to have lied about her knowledge of how her father’s company, the Trump Organization, was run, and who was in charge of the day-to-day operations of the corporation.

Lying during a deposition is a crime. Just the same as testimony in court while under oath, lying as part of a deposition is also considered perjury.

The possible lies told by Ivanka were revealed by Stephanie Winston Wolkoff, a former close friend of Melania Trump who has soured on the Trumps since they attempted to blame her for the questionable finances of the Trump inaugural committee. Wolkoff posted this excerpt from Ivanka’s deposition on Twitter:

Allen Weisselberg has been the chief financial officer of the Trump Organization since the early 1970s and is considered to be the person who knows where every dollar of the company’s money is raised and spent.

Shortly after Wolkoff made her posting, Trump’s former personal attorney and fixer, Michael Cohen, responded with this:

Ivanka isn’t he first of the Trump children to get caught lying under oath. Her brother, Donald Trump Jr., also appears to have perjured himself, as Mother Jones first reported in April:

“During his deposition, Trump Jr. frequently replied, ‘I don’t recall,’ and he downplayed his involvement in preparation for his father’s inauguration in January 2017. In several exchanges, he made statements that are contradicted by documents or the recollections of others and that appear to be false.”

Don Jr’s. apparent lying was also regarding the 2017 Trump inaugural committee, which is believed to have personally enriched the Trump Organization by tens of millions of dollars, money that was diverted illegally to the Trump family in violation of federal and state law.

Perhaps the truest words ever said by a member of the Trump family were reportedly uttered by the failed, one-term former president, who raged that he wasn’t getting any of the money for the presidential transition:

“Fuck the law. I don’t give a fuck about the law. I want my fucking money.”

For a con man and grifter, it’s always about the fucking money. And it’s clear the Trump children inherited that grifting gene from their old man.

 

Categories
Business Donald Trump

Is The Trump Organization On The Verge Of Financial Collapse?

When he first announced he was running for president back in 2015, Donald Trump promised he’d run the United States the way he ran his business and every American would prosper as a result.

Six years later, however, the U.S. is in a deep economic recession and reeling from Trump’s failure to properly deal with the coronavirus pandemic, both of which led to him being consigned to history as a failed, one-term president.

And, six years later, the Trump Organization is quickly going broke, with CBS News reporting that four of Trump’s top money-earning properties in New York City are ailing financially:

“Last year marked the fifth year in a row in which the four most prominent Trump-owned buildings in Manhattan, including the Fifth Avenue Trump Tower made famous by ‘The Apprentice’ TV show, missed lenders’ earnings expectations, according to a CBS MoneyWatch review of publicly available documents. 

“Wells Fargo and other banks have told investors who have funded Trump’s loans that an income slump due in part to the ‘COVID-19 global pandemic‘ means the buildings might not generate enough cash to cover their mortgage payments, according to banker notes to investors reviewed by CBS MoneyWatch. ‘The loan is being monitored,’ said a note to investors in one CMBS deal tied to a Trump property from a unit of PNC Bank that services commercial mortgages.”

These latest developments regarding the Trump Organization are not unexpected. Last year, The Economic Times reported that Trump’s business was in big trouble:

“Like other hotels around the world, Trump’s have been forced to lay off most workers — and face the fact that the $435 million in revenues that the Trump Organization reported in 2018 is likely to plummet this year.”

Trump’s legal problems could also spell doom for his company, which is run by him and hit three eldest children, Don Jr., Ivanka, and Eric:

“Beyond the four buildings’ marketplace challenges, their financing could also pose a legal risk for Trump. New York City prosecutors have obtained millions of pages of Trump’s tax records and related correspondence as part of an ongoing criminal probe into his financial deals. Sources with knowledge of the investigation tell CBS News that prosecutors are reviewing financial documents involving the four Manhattan buildings. Subpoenas indicate the prosecutors are also scrutinizing at least one other Trump property in suburban Bedford, New York.”

The Trump Organization is about to go the way of the dinosaurs. Don’t be surprised if it collapses entirely within the next six months.