NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023

[Stunned]

It would appear that's where he does all his thinking.

It’s the closest he’ll ever get to sitting on a throne unless he snuck into the throne room in Buckingham Palace!

 

[musicaljoke]

"A House Democrat asked Palm Beach County, Florida, to tax Donald Trump's Mar-a-Lago resort property at a rate in accordance with the valuation the former president claims it has amid his ongoing New York civil fraud trial."

Democrat calls Trump's bluff on Mar-a-Lago valuation by urging Florida officials to hike his taxes

Trump claimed Mar-a-Lago is worth "50 to 100 times" more than officials say

www.yahoo.com

I think this is just the first of tax issues to emerge from this case. IMO

jmo

Do we know what is the valuation for property taxes?

 

[SkyBoomer]

I can't race to the radio remote fast enough to turn it off once I hear his whingy whiny poor me voice.

Chyyyyyyyyynuhhhhh

 

[SkyBoomer]

Spewing spaghetti on the wall, hoping something sticks

Toddlers gonna toddler.

 

[SkyBoomer]

This is something Trump posted yesterday.

View attachment 451278

Pfft. Ted Nugent hasn’t looked that good in decades!

 

[SkyBoomer]

Aren't there any consequences for breaking a gag order ?

Not if you are Trump, apparently. So. Many. Years. Of. Corruption.

 

[Stunned]

Ok, so he’s volunteering (not really, he’ll expect payment, I’m sure) to be the temporary Speaker of the House. I am so angry! How could this even be happening? Can this happen?

 

[Smelly Squirrel]

Today's testimony.

Thread by @Jose_Pagliery on Thread Reader App

@Jose_Pagliery: Breaking news before the start of Donald Trump bank fraud trial Day 4. The judge clearly thinks the disgraced ex-president might play games to save his Monopoly board of real estate assets. @thedaily...…

threadreaderapp.com

Breaking news before the start of Donald Trump bank fraud trial Day 4.

The judge clearly thinks the disgraced ex-president might play games to save his Monopoly board of real estate assets.

story here. I'm covering the courtroom live.

Judge Tries to Stop Trump From Hiding His Money

Trump's outside accountant, Donald Bender, is somehow still on the stand.

Bender testifies he was close friends with Trump Org controller Jeff McConney (who helped the company commit tax fraud)... but things have "soured" in recent years.

Well, yeah.

Bender doesn't remember ever asking for Trump real estate appraisals... for the very properties he was listing in compiled financial statements.

Trump lawyer Jesus Suarez is getting frustrated.

Suarez: "Are you familiar with the real estate industry?"

Bender: "Somewhat."

Bender claims he had no idea the Trump had independent appraisals done for many properties until he met with Manhattan DA in Spring 2021.

Suarez: You didn't know a real estate developer would have access to appraisals?

Bender: They represented they gave me everything I needed.

Bender reveals he was never threatened with prosecution by the Manhattan DA's office.

Not relevant in this AG case, but curious nonetheless.

Suarez: You never said, 'I don't have a single appraisal for your massive, giant real estate company... that I know has books & records & loans?' It never crossed your mind that is an entity that could have an appraisal?

Judge: "That's not what he's testifying to."

Suarez's voice suddenly takes an insincere tone.

"I have to ask... are there any mental health reasons you can't testify today?"

AG's lawyer objects. Judge sustains.

Trump lawyer Clifford Robert is questioning Bender now and has quickly:
• questioned his memory
• made a veiled threat to have Trump sue him for bad professionalism
• noted Trump was his biggest client, providing more than 50% of his revenue at Mazars ($1-2 million a year)

AG's Kevin Wallace's turn. He counters Trump team's narrative, pointing out how the accounting profession made a key change in 2009:

Now accountants compiling financial statements would only watch out for "arithmetical or clerical mistakes" & others like "inadequate disclosure."

Bender's done. At this pace, this trial could go on until Election Day 2024.

Next up: Trump Org inside accountant Jeffrey McConney.

McConney sits down by the judge.

Last time we heard from him was at the Trump Org tax fraud trial, where he explained how he helped cook the books.

Keep in mind, he's a witness—but he's a party in this civil lawsuit, also accused of taking part in this bank fraud.

Andrew Amer, special litigation counsel at the AG's office, is asking the questions.

McConney says he primarily responsible for preparing Trump Org real estate valuations that went into statements in the relevant time period, 2011-2017.

Here's some news: Jeff McConney says he recently quit the Trump Organization.

He retired & got a $500,000 severance package.

He's gotten $375,000... but is still owed $125,000.

Red flags, anyone?

Amer: Is that contingent on anything?

McConney: No, other than me being alive.

Interesting parallel here: When Trump Org CFO Allen Weisselberg testified at the company's tax fraud trial last year, he revealed that he was (still!) waiting for his year-end $500,000 bonus.

It seemed like Trump Org was hanging it over his head.

See:
The Trump Org’s ‘Fired’ Money Man Actually Still Has His Job

While reviewing the contract between Trump Org and the accounting firm Mazars, McConney just conceded the disclaimers lay all the blame on the big boss.


Amer: They place the burden "squarely on Trump's shoulders, correct?"

McConney: "Yes."

He may have said "correct." Amer's going pretty fast now.

The idea here is that Mazars was clearly not auditing Trump Org's numbers.

If the numbers are juiced, it's Trump's fault.

New evidence:

We're seeing the 2013 Mazars "independent accountants' compilation report," which McConney marked up for 2014 numbers in blue pen.

Various properties are going up and down in value. Mostly up.

The top right says, "DJT to get final review."

We're getting an intimate look at Donald Trump's personal finances in bank documents.

June 2012, Trump reported he was worth $4.5 billion.

Deutsche Bank "adjusted" it down to $2.4 billion.

We're back from a lunch break. Trump's legal team just tried to pause the entire trial—and the order putting Trump Org into receivership—as they ask the appellate court to step in.

The judge clarifies they can do that, but have to keep going with trial until they file appeal.

McConney is back on the stand, and Amer is probing internal Trump Org spreadsheets.

AG is making the case that McConney listed cash—that Trump didn't even have access to—in a way that would dupe their outside accountant, Bender.

Correction to my subsequent tweet, which I've deleted. We're talking about another Trump triplex—not his gold-plated one.

We're talking about this one:
https://www.nytimes.com/2018/03/01/realestate/saudi-prince-sells-manhattan-triplex.html

The day ended without much action. Trial starts up again tomorrow morning for a half day, which will probably be more from McConney.

Convicted tax cheat and Rikers Island survivor Allen Weisselberg is due to appear Tuesday.

/fin

 

[TootsieFootsie]

Hmmm I don't think I'm very awake today, because I read something as Letitia James bringing in a suit for Trump to wear

I think I need to stay home today and not make any rash decisions.

 

[TootsieFootsie]

What happens if Trump has already somehow made a move to protect his assets ?

 

[Cool Cats]

What happens if Trump has already somehow made a move to protect his assets ?

If someone has already sued you, it’s too late to protect your assets. The time to take action is before you get involved in a lawsuit. Several options exist, but if you implement them too late, the court may consider they’re an intentional effort to defraud individuals or companies to whom you owe money.

How to Protect Your Assets When Getting Sued

If someone has already sued you, it’s too late to protect your assets. The time to take action is before you get involved in a lawsuit. Several options exist, but if you implement them too late, the court may consider they’re an intentional effort to defraud individuals or companies to whom you...

legalbeagle.com

 

[sunshineray]

Pfft. Ted Nugent hasn’t looked that good in decades!

Looks more like a hairier Jamie "Kingslayer" Lanister to me...there's that throne theme again

 

[Niner]

Friday, Oct. 6th:
*Bench Trial continues (Day 5) (@ 10am ET) – NY - New York vs. Donald J. Trump, Donald Trump, Jr. & Eric Trump & the Trump Organization, Inc. (Allen Weisselberg & Jeffrey McConney) is being sued by Letitia James, the New York Attorney General, who is leading a civil investigation (which cannot result in criminal charges filed on 9/21/22) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & three of his children accusing them of "astounding" fraud & deception.
New York is seeking $250 million in financial penalties & asked the court to ban Trump, Donald Trump Jr. & Eric Trump from serving as an officer or director in any corporation registered or licensed in New York. James also requested the court ban the former president & his business from acquiring real estate in New York or from applying for loans from any New York financial institution for five years. James's civil case accuses Trump of lying from 2011 to 2021 about asset values at the Trump Organization, as well as his own net worth, in order to obtain better terms from lenders & insurers.
Lawsuit against: Donald John Trump, Donald Trump, Jr, Eric Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., Trump Organization LLC, DJT Holdings LLC, DJT Holinds Managing Memer, Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post of Fice LLC, 40 Wall Street LLC & Seven Springs LLC.
All charges against Ivanka Trump were dismissed.
New York Supreme Court (Manhattan) #452564-2022 / New York State Supreme Court, Appellate Division, 1st Dept, No. 2023-00717
Summary Judgement. NY State Court Judge Engoron has granted partial summary judgment to the Ny attorney general, finding that Trump is liable on top fraud count of NYAG business fraud lawsuit. Judge Engoron wrote that the documents uncovered in the case “clearly contain fraudulent valuations that defendants used in business,” and none of Trump’s defenses hold up, including his claim that he could always find a “buyer from Saudi Arabia” for one property or that measuring square footage is a “subjective process.” The judge pointed to several Trump properties that were overvalued, including Mar-A-Lago, a building on Park Avenue, an estate in Westchester County & his penthouse in Trump Tower—which had an inflated square footage even after Forbes asked him about the exaggeration, Engoron notes. As a result, Judge Engoron canceled several of Trump’s business certificates & ordered the dissolution of Trump-related LLCs. The second orders that "within 10 days of the date of this order, the parties are directed to recommend the names of no more than three potential independent receivers to manage the dissolution of the canceled LLCs." Judge Engoron also sanctioned several of Trump’s attorneys $7,500 for making arguments the court had repeatedly tossed out.
Bench Trial began on 10/2/23. (could last until 12/22/23 per Judge).
The lawsuit’s remaining 6 counts allege similar acts of fraud (that Trump inflated his assets on statements of financial condition that he submitted to banks & insurers for personal gain).
Judge Arthur F. Engoron presiding / NY State Attorney General Leticia James / Defense attorney Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. / Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric.
Case & court info from 9/21/22 thru 9/28/23 & Bench Trial Day 1-3 (10/2-10/4/23) reference post #486 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-25
10/5/23 Thursday, Bench Trial Day 4: Judge Engoron issued a ruling to make sure Trump & other defendants in the case are complying with his order last week canceling their New York business certificates. The judge formally extended the deadline for Trump's team & the AG's office to submit suggestions for an independent receiver to oversee the dissolution of the companies by Oct. 26. He also directed the Trump team to turn over a full list of those companies, and to inform the monitor already overseeing the Trump Organization's financial transactions about any third parties who have ownership interests. The order also directs Trump's team to inform the monitor in advance of any applications for new business certificates & any transfer of assets.
State witnesses: Donald Bender, accountant for Trump (Org) finishing cross exam & some direct. Former Trump Organization senior vice president Jeff McConney. (McConney, who's also a defendant in the case, was then shown letters he sent to a lender to disclose the statements of financial condition to Royal Bank America. That letter & others like it are part of how the AG will attempt to establish McConney’s liability for false financial statements, in addition to his involvement in preparing the statements themselves.)
McConney is scheduled to continue his testimony tomorrow as the day's only witness.
For more info see posts #489 & 499 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-25
For more info see posts #517 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-26
Trump's legal team plans to request a stay of the ongoing fraud trial, pending their appeal of Judge Engoron's partial summary judgment ruling issued last week, defense lawyer Chris Kise notified Engoron in court. In seeking to halt the trial, the defense team said they plan to file their request tomorrow morning & wanted to provide notice to the state. State prosecutors objected that less than 24 hours' notice is not enough. "That's clearly not sufficient," Engoron said of the notice, adding that the appellate court could deny the request due to the lack of proper notice. The judge clarifies they can do that, but have to keep going with trial until they file appeal.
Bench trial continues on Friday, 10/6/23.

 

[TootsieFootsie]

Ok, so he’s volunteering (not really, he’ll expect payment, I’m sure) to be the temporary Speaker of the House. I am so angry! How could this even be happening? Can this happen?

Yes I read this.
He seems to be clutching at straws.

 

[TootsieFootsie]

Loose lips seems to be quite an apt description of Mr Trump,

 

[SouthAussie]

Ok, so he’s volunteering (not really, he’ll expect payment, I’m sure) to be the temporary Speaker of the House. I am so angry! How could this even be happening? Can this happen?

"House Republican rules prohibit a speaker who is under felony indictment."

Ex-President Donald Trump endorses Jim Jordan to be US House Speaker

The former president backs House Judiciary Committee chairman for the key position after removal of Kevin McCarthy.

www.aljazeera.com

 

[musicaljoke]

"House Republican rules prohibit a speaker who is under felony indictment."

Ex-President Donald Trump endorses Jim Jordan to be US House Speaker

The former president backs House Judiciary Committee chairman for the key position after removal of Kevin McCarthy.

www.aljazeera.com

Good heavens, I just had to have a laugh over that. House rules prohibit a speaker under felony indictment, but they don't prevent a president under felony indictment. Crazy.

 

[musicaljoke]

If someone has already sued you, it’s too late to protect your assets. The time to take action is before you get involved in a lawsuit. Several options exist, but if you implement them too late, the court may consider they’re an intentional effort to defraud individuals or companies to whom you owe money.

How to Protect Your Assets When Getting Sued

If someone has already sued you, it’s too late to protect your assets. The time to take action is before you get involved in a lawsuit. Several options exist, but if you implement them too late, the court may consider they’re an intentional effort to defraud individuals or companies to whom you...

legalbeagle.com

Unless his assets have been frozen, that won't stop him. "Catch me if you can!"

 

[TootsieFootsie]

Unless his assets have been frozen, that won't stop him. "Catch me if you can!"

I still think he would give it a good go.

 

[Inthedetails]

Friday, Oct. 6th:
*Bench Trial continues (Day 5) (@ 10am ET) – NY - New York vs. Donald J. Trump, Donald Trump, Jr. & Eric Trump & the Trump Organization, Inc. (Allen Weisselberg & Jeffrey McConney) is being sued by Letitia James, the New York Attorney General, who is leading a civil investigation (which cannot result in criminal charges filed on 9/21/22) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & three of his children accusing them of "astounding" fraud & deception.
New York is seeking $250 million in financial penalties & asked the court to ban Trump, Donald Trump Jr. & Eric Trump from serving as an officer or director in any corporation registered or licensed in New York. James also requested the court ban the former president & his business from acquiring real estate in New York or from applying for loans from any New York financial institution for five years. James's civil case accuses Trump of lying from 2011 to 2021 about asset values at the Trump Organization, as well as his own net worth, in order to obtain better terms from lenders & insurers.
Lawsuit against: Donald John Trump, Donald Trump, Jr, Eric Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., Trump Organization LLC, DJT Holdings LLC, DJT Holinds Managing Memer, Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post of Fice LLC, 40 Wall Street LLC & Seven Springs LLC.
All charges against Ivanka Trump were dismissed.
New York Supreme Court (Manhattan) #452564-2022 / New York State Supreme Court, Appellate Division, 1st Dept, No. 2023-00717
Summary Judgement. NY State Court Judge Engoron has granted partial summary judgment to the Ny attorney general, finding that Trump is liable on top fraud count of NYAG business fraud lawsuit. Judge Engoron wrote that the documents uncovered in the case “clearly contain fraudulent valuations that defendants used in business,” and none of Trump’s defenses hold up, including his claim that he could always find a “buyer from Saudi Arabia” for one property or that measuring square footage is a “subjective process.” The judge pointed to several Trump properties that were overvalued, including Mar-A-Lago, a building on Park Avenue, an estate in Westchester County & his penthouse in Trump Tower—which had an inflated square footage even after Forbes asked him about the exaggeration, Engoron notes. As a result, Judge Engoron canceled several of Trump’s business certificates & ordered the dissolution of Trump-related LLCs. The second orders that "within 10 days of the date of this order, the parties are directed to recommend the names of no more than three potential independent receivers to manage the dissolution of the canceled LLCs." Judge Engoron also sanctioned several of Trump’s attorneys $7,500 for making arguments the court had repeatedly tossed out.
Bench Trial began on 10/2/23. (could last until 12/22/23 per Judge).
The lawsuit’s remaining 6 counts allege similar acts of fraud (that Trump inflated his assets on statements of financial condition that he submitted to banks & insurers for personal gain).
Judge Arthur F. Engoron presiding / NY State Attorney General Leticia James / Defense attorney Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. / Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric.
Case & court info from 9/21/22 thru 9/28/23 & Bench Trial Day 1-3 (10/2-10/4/23) reference post #486 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-25
10/5/23 Thursday, Bench Trial Day 4: Judge Engoron issued a ruling to make sure Trump & other defendants in the case are complying with his order last week canceling their New York business certificates. The judge formally extended the deadline for Trump's team & the AG's office to submit suggestions for an independent receiver to oversee the dissolution of the companies by Oct. 26. He also directed the Trump team to turn over a full list of those companies, and to inform the monitor already overseeing the Trump Organization's financial transactions about any third parties who have ownership interests. The order also directs Trump's team to inform the monitor in advance of any applications for new business certificates & any transfer of assets.
State witnesses: Donald Bender, accountant for Trump (Org) finishing cross exam & some direct. Former Trump Organization senior vice president Jeff McConney. (McConney, who's also a defendant in the case, was then shown letters he sent to a lender to disclose the statements of financial condition to Royal Bank America. That letter & others like it are part of how the AG will attempt to establish McConney’s liability for false financial statements, in addition to his involvement in preparing the statements themselves.)
McConney is scheduled to continue his testimony tomorrow as the day's only witness.
For more info see posts #489 & 499 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-25
For more info see posts #517 here:
https://www.websleuths.com/forums/t...mp-org-and-executives-oct-2023.673964/page-26
Trump's legal team plans to request a stay of the ongoing fraud trial, pending their appeal of Judge Engoron's partial summary judgment ruling issued last week, defense lawyer Chris Kise notified Engoron in court. In seeking to halt the trial, the defense team said they plan to file their request tomorrow morning & wanted to provide notice to the state. State prosecutors objected that less than 24 hours' notice is not enough. "That's clearly not sufficient," Engoron said of the notice, adding that the appellate court could deny the request due to the lack of proper notice. The judge clarifies they can do that, but have to keep going with trial until they file appeal.
Bench trial continues on Friday, 10/6/23.

I couldn't remember if Weisselberg was still in prison, but just checked and see he served three months at Rikers for tax evasion and was released in April 2023.

Trump's former financial chief Weisselberg gets out of jail

The former chief financial officer at Donald Trump’s company is out of jail after serving around three months for tax evasion. Allen Weisselberg was released Wednesday morning from New York City’s Rikers Island jail complex. Although the 75-year-old is now a free man, he might not be out of the...

apnews.com