Trump Org, CFO indicted by New York grand jury: reports

Hawkeye10 said:
This goes to show again something that I have been saying for almost two years now...Trump runs a lot cleaner than almost everyone said he does....he is the opposite of corrupt....he performs better and more honest than almost everyone else. Almost no one who has done as much as he has for as long as he has could withstand the fill force of the government crawling up his ass and dissecting his life in the attempt to nail him with them coming away with nothing to hang him with.
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Did you forget his Foundation was shut down and his fake University?

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Poor Richard Saunders said:
FICA is not just on the first $120K. The Medicare portion has no ceiling but is paid on every dollar paid in wages. Weisselberg received income as benefits and didn't pay income tax on those benefits.
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I wasn't aware of that. That makes it a little worse for Weisselberg.
Depreciation is written off based on the price paid. Unless there was other fraud going on, the current indictment has nothing to do with depreciation being wrongly claimed.
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Again...given the two sets of books, and his myriad cash deals for properties, it's possible that he falsified numbers to play both sides of the fence.
In most cases of tax fraud the government gets first dibs. Banks will only have access to the property used to secure the loans. By creating so many companies Trump is restricting the assets a bank can go after to the particular company that got the loan unless Trump personally guaranteed the loan.
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The issue of 'dibs' was more a discussion about banks calling their notes if trumpco was under indictment/prosecution.

As such, if he defaults I would think that the lenders would assume sole ownership of said properties if trump couldn't obtain funding from Putin.
 
Hello Dutch Uncle,

Dutch Uncle said:
Agreed on government, but thought it was only the State of New York. Either way, yes, they'll get paid. :)
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I guess that's right. I have not read the indictment. Makes sense it would be about paying New York State taxes.

That's probably why the figure is so low. I expected it to be higher. I was thinking of all the federal taxes he has evaded. Hopefully that will also be looked at.
 
PoliTalker said:
Hello Dutch Uncle,



I guess that's right. I have not read the indictment. Makes sense it would be about paying New York State taxes.

That's probably why the figure is so low. I expected it to be higher. I was thinking of all the federal taxes he has evaded. Hopefully that will also be looked at.
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No doubt the investigators will go where the evidence leads. A State tax evasion case can lead to a Federal tax evasion case. It depends.
 
MAGA said:
who gives a crap about what he paid if you used our own laws that allow him to do it? does the left piss and moan about nothing all the time?
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Laws don’t allow him to do it, and although many on the right don’t think so, the same law apples to everyone
 
Hello Dutch Uncle,

Dutch Uncle said:
No doubt the investigators will go where the evidence leads. A State tax evasion case can lead to a Federal tax evasion case. It depends.
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It only stands to reason that if Trump hates paying taxes to the government so much that he thinks getting out of it 'makes him smart' and he is found guilty of state tax evasion, that he would also be guilty of federal tax evasion.

As far as the state tax evasion goes, it is now glaringly apparent why he moved out of New York State.
 
PoliTalker said:
Hello Dutch Uncle,



It only stands to reason that if Trump hates paying taxes to the government so much that he thinks getting out of it 'makes him smart' and he is found guilty of state tax evasion, that he would also be guilty of federal tax evasion.

As far as the state tax evasion goes, it is now glaringly apparent why he moved out of New York State.
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It wouldn't surprise me that the deeper investigators look into TrumpCo, the more shit they are going to find. Is there a statute of limitations on financial crimes?

Seems to me that, even if there was, if it's part of an ongoing conspiracy to commit crime, that it all comes into play.
 
Hello Dutch Uncle,

Dutch Uncle said:
It wouldn't surprise me that the deeper investigators look into TrumpCo, the more shit they are going to find. Is there a statute of limitations on financial crimes?

Seems to me that, even if there was, if it's part of an ongoing conspiracy to commit crime, that it all comes into play.
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It makes me proud to be an American when justice is served. Seeing the authorities making Trump answer for his actions gives me a good feeling about the future of the country and the world.
 
Weusselberg is facing 15 charges and the rest of his life in jail. He is not scoffing at the charges. There will be a lot more charges too. Is there anyone who does not think Trump plays by his own rules? The rights do not care if the president is a crook.
 
Nordberg said:
Weusselberg is facing 15 charges and the rest of his life in jail. He is not scoffing at the charges. There will be a lot more charges too. Is there anyone who does not think Trump plays by his own rules? The rights do not care if the president is a crook.
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The right actually loves Trump precisely because he is a criminal.
 
For months -- years, even -- legal observers have been waiting for the Manhattan District Attorney's Office to conclude its investigation of Donald J. Trump and his family business with the filing of criminal charges. Finally, the wait is over. But, in part because the indictment does not charge the former President as an individual and partly because many segments of the investigation apparently continue, these charges may raise as many questions as they answer.
: U.S. President Donald Trump listens during a meeting with members of the National Association of Police Organizations Leadership in the Cabinet Room of the White House July 31, 2020 in Washington, DC. (Photo by Anna Moneymaker-Pool/Getty Images)Thursday's charges were brought against Allen Weisselberg, the longtime chief financial officer of the Trump Organization, and against certain corporate components of the company itself, based on what is described as a 15-year scheme to evade taxes on executive and employee compensation. According to the indictment, the Trump Organization provided part of its compensation in the form of rent-free apartments, car leases, cash bonuses and private school tuition, but failed to properly account for this income, and did not pay required federal, state and local taxes on it. Weisselberg, a recipient of these benefits, allegedly also failed to pay personal taxes on this income, as part of the conspiracy.

Weisselberg and the Trump Organization pleaded not guilty to the charges. The Trump Organization further called the prosecution a political ploy, saying Weisselberg was being used as a "pawn in a scorched-earth attempt to harm the former president."
But now that this long-awaited indictment has been unsealed, what does it tell us about these charges and about the possibility of charges for additional crimes and against additional defendants?
First, the charges are more serious than prior reporting suggested. Stories in the last few days undersold the case by describing it as one about fringe benefits, of the sort rarely prosecuted. While it is true that this is a case about unreported income and the failure to pay taxes on it, its scope is greater than many expected, for a few reasons. The scheme charged is a 15-year conspiracy to evade taxes, described as involving numerous Trump Organization executives and employees, only one of whom has been charged so far.
The indictment alleges the commission of other crimes in addition to the scheme to defraud in the first degree, namely grand larceny in the second degree -- the second most serious white-collar crime available to state prosecutors in New York -- along with various charges for falsifying records. And District Attorney Cyrus Vance has alleged that defendant Weisselberg not only evaded New York State and New York City taxes, but also evaded federal taxes, increasing the potential tax loss amount significantly. (While state authorities cannot charge the federal crime of evading federal taxes directly under state law, they can use the federal loss amount in charging the intended scope of the scheme to violate state law, as they have done here). All of this means that this is a bigger case, and a bigger headache for Trump and his company, than what was first believed.
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© CNN Jennifer RodgersWe also know from Thursday's indictment and related proceedings that, as has been previously reported, Weisselberg is not cooperating with the investigation. And, given his central role in the charged scheme and other aspects of the Trump Organization's business that are still reportedly under investigation, he almost certainly still has a chance at a cooperation deal -- and many a defendant has changed his tune when the relatively vague notion of a potential criminal case is replaced by the cold, hard, reality of being arrested, handcuffed, fingerprinted and taken to court.
But I think that Weisselberg's importance as a cooperator may not be as great as it previously seemed. Particularly given the language in the indictment pointedly describing other participants in the scheme, it appears at least possible, if not likely, that other charges will be forthcoming whether or not Weisselberg cooperates, because prosecutors either have other important witness testimony, or they can make their case using documentary evidence, or a combination of both.
One thing that was not clarified Thursday is whether the other parts of the ongoing investigations will ever result in charges. Vance, the Manhattan district attorney, and New York State Attorney General Letitia James have been investigating bank fraud and tax fraud related to inflating and deflating assets, as well as the hush money payments to adult movie actress Stormy Daniels. The indictment did not shed light on these issues.
While many unknowns persist, there is certainty on one point: as Trump's strong reaction to these developments demonstrates, Thursday's indictment is very bad news for the former president, with potentially much more bad news to come.

Opinion: This is very bad news for Donald Trump (msn.com)
 
Dutch Uncle said:
LOL. Not a lawyer, so I don't understand the full ramifications, but it does sound serious.
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NYS/NYC tax avoidance is a percentage of Fed taxes. By naming the IRS as a victim as well, the dollar amount of taxes owed grows astronomically. It also invites the Feds to file suit.
 
PoliTalker said:
Hello Dutch Uncle,



I guess that's right. I have not read the indictment. Makes sense it would be about paying New York State taxes.

That's probably why the figure is so low. I expected it to be higher. I was thinking of all the federal taxes he has evaded. Hopefully that will also be looked at.
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See above. trumpco is charged with plotting to defraud multiple agencies. Fraud isn't a joke.
 
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