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NY Civil Lawsuit & Criminal Trial Against Donald Trump & Family

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  • Cult45: "bUt tHeRe wAs nO vIcTiM!!"

    Keeping multiple cooked books with different valuations for different situations has always been illegal. American courts both state and federal are full of these cases every single day of every week.

    So, go ahead cook the books, cook your taxes and when they come after you, feel free to use "everybody does it" as a defense.


    - Ask Al Capone how keeping separate books worked out.
    “Loyalty to country ALWAYS. Loyalty to government, when it deserves it.”
    Mark Twain

    Comment


    • Originally posted by Albany Rifles View Post
      Cult45: "bUt tHeRe wAs nO vIcTiM!!"

      Keeping multiple cooked books with different valuations for different situations has always been illegal. American courts both state and federal are full of these cases every single day of every week.

      So, go ahead cook the books, cook your taxes and when they come after you, feel free to use "everybody does it" as a defense.


      - Ask Al Capone how keeping separate books worked out.
      Well both Donald Trump and Ben Carson have compared Trump to Capone, so.....
      “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

      Comment


      • I am old enough when he had a hissy fit and helped build and destroy the USFL. And you got to believe the group of rapacious vultures known as NFL owners have odious POS but even they couldn't stand the idea of Fat Nixon joining them.

        And at the time, I remember my brother who lives in Buffalo saying all the fans were mortified he may get the team. We talked about this last night during our weekly family Zoom call.

        https://www.salon.com/2023/11/01/exp...nt-to-deceive/

        Expert: Trump's use of Forbes list instead of financial docs may be used to "show intent to deceive"

        Morgan Stanley official testified that Trump used Forbes printout in lieu of documents in bid to buy Buffalo Bills

        By AREEBA SHAH

        Staff Writer PUBLISHED NOVEMBER 1, 2023 3:42PM (EDT)

        Former President Donald Trump sits in court during his civil fraud trial at New York State Supreme Court on October 24, 2023 in New York City. (Mike Segar-Pool/Getty Images)

        President Donald Trump relied on a Forbes article to “prove” his net worth when placing a bid to buy the NFL's Buffalo Bills – a decade-old business move that came under scrutiny during his New York civil fraud trial on Tuesday.

        K. Don Cornwell of Morgan Stanley testified in court that Trump distributed printouts from Forbes regarding the highest-paid entertainers to affirm his financial standing to Buffalo Bills executives after claiming a net worth of over $8 billion in an offer letter. The former president refused to disclose financial statements to bankers involved in his $1 billion bid for the football team in 2014.

        The lawsuit brought by New York Attorney General Letitia James accuses Trump of committing massive fraud in New York for years by repeatedly inflating Trump’s wealth by hundreds of millions of dollars to get better terms for loans and insurance policies while building his real estate empire. Cornwell’s testimony offered a glimpse into how the former president has crafted a perception of wealth through his public image.

        It goes to show that Trump would go to great lengths to prove his net worth, even if it wasn't an official financial statement, Laurie Levenson, a law professor at Loyola Marymount University, told Salon.

        “In fact, it showed that he steered away from personal financial statements and someone has to ask, ‘why?’” Levenson said. “The AG will argue it is because he knew that he had created a reputation about his worth that might not be supported by the actual numbers. So, yes, that might be used to show intent to deceive people by using whatever sources he could to do his transactions.”

        Out of the 86 parties that were contacted to potentially bid on the Bills, Trump was one of six who made it to a final bid, according to a Morgan Stanley document shown at trial, ABC News reported. But, when Morgan Stanley attempted a close review of Trump's bid, the former president declined to provide his financial statements.

        “We feel it is premature to sign the consent release forms until such time as we know that Mr. Trump is the final bidder," then-Trump attorney Michael Cohen said in an email shown in court Tuesday.

        Instead, Trump, who was the star of NBC’s "The Apprentice" at the time, handed out a Forbes magazine list to support his bid during a management presentation with Bills' leadership, according to Cornwell. Ultimately, Trump lost his bid for the football team to billionaire Terry Pegula, who outbid him by $400 million.

        While Cornwell’s testimony may not rise to the level of admissible evidence in terms of demonstrating fraud, it does, however, corroborate the prosecution's position of Trump's motive to inflate his assets, Tre Lovell, entertainment and libel law attorney, told Salon.

        “Sending over an article in a magazine would never replace the pre-requisite due diligence required by the banks to review personal financial statements, and thus it would not be reasonable to rely upon the article in making such a determination," Lovel said.

        It's “pretty clear” that Trump wanted people to think he was richer than he really was when applying for loans and making proposals for deals so it's not surprising that he would also use articles that appear to verify his wealth, Gregory Germain, Syracuse University law professor, told Salon.

        “What the AG needs to present is evidence that someone believed his misstatements, relied on them, was harmed because of their reliance on his misstatements, and that he was unjustly enriched as a result,” Germain said. “Without evidence of reliance, causation and harm, there is no connection between the false information and his alleged unjust enrichment.”

        In the cross-examination, Cornwell acknowledged that Trump's prior lawsuit against the NFL and his involvement with casinos stood in the way of his chances of success. In an email he wrote to colleagues in April 2014, then-Morgan Stanley executive said Trump had “little chance” of being approved by the NFL, but his “strong show of support” wouldn’t “hurt” the process.

        Even though Cornwell’s testimony may not be “directly relevant” with respect to the submissions to the banks for loans,” it does support the “prosecution's contention” of Trump's motive to inflate assets, Lovel explained.

        Regarding the fraud allegations, the applications submitted to the bank regarding asset valuations and the custom and practice in the real estate industry with respect to “puffing up” financials are of greater relevance, he added.

        But Germain said that developers and promoters “regularly puff their net worth,” and “puffing” does not show fraud. “Fraud requires reliance, causation and damages, and that evidence is entirely missing so far,” he added.

        While Trump's ongoing civil fraud lawsuit unfolds in New York, state courts in Colorado and Minnesota are hearing oral arguments this week from individuals seeking to bar Trump from running for the White House again under the U.S. Constitution’s “insurrection” clause – becoming the only case with the potential to directly shape the 2024 election.
        “Loyalty to country ALWAYS. Loyalty to government, when it deserves it.”
        Mark Twain

        Comment


        • Originally posted by Albany Rifles View Post
          I am old enough when he had a hissy fit and helped build and destroy the USFL. And you got to believe the group of rapacious vultures known as NFL owners have odious POS but even they couldn't stand the idea of Fat Nixon joining them.

          And at the time, I remember my brother who lives in Buffalo saying all the fans were mortified he may get the team. We talked about this last night during our weekly family Zoom call.

          https://www.salon.com/2023/11/01/exp...nt-to-deceive/
          Sounds like the kind of successful and savvy businessman that should be elected President....
          “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

          Comment


          • Mary Trump says Ivanka Trump will throw her father ‘under the bus’ in fraud trial testimony


            Mary Trump, the niece of former President Trump, said she thinks Ivanka Trump will throw her father “under the bus” when she testifies in the fraud trial underway in New York.

            Mary Trump, host of “The Mary Trump Show” podcast and a very outspoken critic of her uncle, previewed the trial with reporter Molly Jong-Fast in a video exclusive to her newsletter subscribers.

            Brothers Eric Trump and Donald Trump Jr. testified in the New York fraud trial this week. Both are parties in the lawsuit brought forth by New York Attorney General Letitia James, who claims the family’s business falsely inflated and deflated the value of its assets to receive lower taxes and better insurance coverage.

            Ivanka Trump was once a party in the lawsuit, but a New York appeals court in June dismissed her from the case. Her lawyers argued that the attorney general’s office did not have the jurisdiction to force her to testify, but Judge Arthur Engoron ruled she would have to. Her attorneys have appealed that ruling.

            According to Mediaite, Mary Trump said she thinks Donald Trump Jr. is the “least equipped to do this.”

            “They’re going to have to walk a very thin line between obfuscating in a way that’s not perjury and appeasing their father’s ego so that he doesn’t throw them under the bus when he testifies, which of course he’s going to do no matter what they do,” Mary Trump said.

            Mary Trump and co-host Jong-Fast both agreed they think Ivanka will “tell the truth and throw him under the bus.”

            The pair said they think since Ivanka Trump is “legitimately wealthy,” unlike the other Trump siblings, and doesn’t need to rely on her father, she does not need to hold her tongue in court.
            ____________

            I'll be surprised if Mary Trump is correct. Personally I think Ivanka will continue the "I don't recall" routine. It's vague. It's safe. She's not a party in the lawsuit, she's not dependent on the Trump Organization anymore, AFAIK. No need to save her own skin and no reason to be honest and forthcoming.
            “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

            Comment


            • Originally posted by TopHatter View Post
              Mary Trump says Ivanka Trump will throw her father ‘under the bus’ in fraud trial testimony


              Mary Trump, the niece of former President Trump, said she thinks Ivanka Trump will throw her father “under the bus” when she testifies in the fraud trial underway in New York.

              Mary Trump, host of “The Mary Trump Show” podcast and a very outspoken critic of her uncle, previewed the trial with reporter Molly Jong-Fast in a video exclusive to her newsletter subscribers.

              Brothers Eric Trump and Donald Trump Jr. testified in the New York fraud trial this week. Both are parties in the lawsuit brought forth by New York Attorney General Letitia James, who claims the family’s business falsely inflated and deflated the value of its assets to receive lower taxes and better insurance coverage.

              Ivanka Trump was once a party in the lawsuit, but a New York appeals court in June dismissed her from the case. Her lawyers argued that the attorney general’s office did not have the jurisdiction to force her to testify, but Judge Arthur Engoron ruled she would have to. Her attorneys have appealed that ruling.

              According to Mediaite, Mary Trump said she thinks Donald Trump Jr. is the “least equipped to do this.”

              “They’re going to have to walk a very thin line between obfuscating in a way that’s not perjury and appeasing their father’s ego so that he doesn’t throw them under the bus when he testifies, which of course he’s going to do no matter what they do,” Mary Trump said.

              Mary Trump and co-host Jong-Fast both agreed they think Ivanka will “tell the truth and throw him under the bus.”

              The pair said they think since Ivanka Trump is “legitimately wealthy,” unlike the other Trump siblings, and doesn’t need to rely on her father, she does not need to hold her tongue in court.
              ____________

              I'll be surprised if Mary Trump is correct. Personally I think Ivanka will continue the "I don't recall" routine. It's vague. It's safe. She's not a party in the lawsuit, she's not dependent on the Trump Organization anymore, AFAIK. No need to save her own skin and no reason to be honest and forthcoming.
              Yeah...she has the money from all those Chinese patents and Saudi money to keep her going...
              “Loyalty to country ALWAYS. Loyalty to government, when it deserves it.”
              Mark Twain

              Comment


              • Donald Trump 'fired up' to testify in New York fraud case: son


                If former president Donald Trump takes the stand it will be the first time he testifies publicly in any of the current civil and criminal cases facing him

                Donald Trump's son Eric wrapped up his testimony on Friday in the civil fraud case against the family business empire and said his father is "fired up" to take the stand next week.

                The 77-year-old former US president is expected to testify on Monday in the trial in which the Trump Organization is accused of inflating the value of its assets by billions of dollars to obtain more favorable bank loans and insurance terms.

                Leaving the Manhattan courtroom after concluding his second day of testimony, Eric Trump denounced the case as a "big charade" and a "huge waste of taxpayer money."

                "We've done absolutely nothing wrong," he told reporters. "We have a better company than they could have ever imagined."

                Eric, 39, and his elder brother Donald Jr, 45, are executive vice presidents of the Trump Organization, a sprawling network of companies managing residential buildings, office skyscrapers, luxury hotels and golf courses around the world.

                Don Jr testified for two days this week and was followed on the stand by his younger brother.

                Both brothers adopted essentially the same line of defense -- that company financial statements the authorities allege were fraudulent were drawn up by their accountants and they relied on them for their accuracy.

                Eric Trump said his father is "certainly going to be here" to testify on Monday.

                "I know he's very fired up to be here," he said. "And he thinks that this is one of the most incredible injustices that he's ever seen."

                If the former president does testify, it will be the first time he does so publicly in any of the current civil and criminal cases facing him.

                - $250 million -

                Trump, the frontrunner for the 2024 Republican presidential nomination, has shown up sporadically since the New York trial began a month ago, using his appearances to portray himself as the victim of what he claims is a Democratic plot to derail his White House campaign.

                The former president's daughter, Ivanka Trump, who left the Trump Organization in 2017 to become a White House advisor to her father, is not a codefendant in the case but has also been ordered to testify.

                She fought the subpoena but her appeal was rejected and she may have to testify as early as Wednesday.

                Judge Arthur Engoron, who is presiding over the case, has already ruled that Trump, his sons and other executives of the Trump Organization committed fraud and the trial is being held to determine penalties and potential sanctions.

                Trump and his sons do not risk going to jail, but face up to $250 million in penalties and potential removal from the management of the family company.

                The civil fraud trial is one of several legal battles Trump faces as he seeks to recapture the presidency.

                He is to go on trial in Washington in March for conspiring to overturn the results of the 2020 election, and in Florida in May on charges of mishandling top secret government documents.

                The twice-impeached former president also faces racketeering charges in Georgia for allegedly conspiring to upend the election results in the southern state after his 2020 defeat by Democrat Joe Biden.
                _______

                I don't know. I don't recall. That was someone else. That wasn't my fault.....
                “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                Comment


                • NY judge in Trump civil fraud case issues gag order against lawyers

                  NEW YORK, Nov 3 (Reuters) - The judge overseeing the New York civil fraud case against former U.S. President Donald Trump on Friday issued a gag order barring all lawyers from making public statements about the judge's communications with his staff.

                  Justice Arthur Engoron of the New York state court in Manhattan issued the order after defense lawyers made repeated objections about the working relationship between him and his principal law clerk, including suggestions that she was biased. Trump himself has also accused her of bias.

                  In his order, Engoron said he has an "unfettered right" to consult with his staff members throughout the trial, and that a gag order was intended to protect their safety.

                  "The First Amendment right of defendants and their attorneys to comment on my staff is far and away outweighed by the need to protect them from threats and physical harm," Engoron wrote, referring to the U.S. Constitution's free speech protections.


                  Failure to honor the gag order, the judge said, "shall result in serious sanctions."

                  Engoron first imposed a gag order on Oct. 3 after Trump shared on social media a photo of the clerk posing with U.S. Senate Majority leader Chuck Schumer, a Democrat, and falsely called her Schumer's "girlfriend."

                  The judge has fined Trump $15,000 for twice violating that gag order. Engoron on Friday expanded the gag order to cover lawyers as well after a member of Trump's legal team, Christopher Kise, objected to the clerk passing notes to the judge during the trial.

                  The order was issued after Trump's sons Donald Trump Jr. and Eric Trump testified this week. Their father is expected to testify on Monday.
                  ___________

                  Seems fair, considering that Donald Trump and his Family think they have an unfettered right to commit stochastic terrorism.
                  “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                  Comment


                  • Trump “just yelled at the judge” for several minutes — and has been “screaming insults” at NY AG



                    Donald Trump "just yelled at the judge for a several minute stretch" while testifying on the stand at his New York civil fraud trial, Politico's Erica Orden reported. Though the former president's outburst led New York Supreme Court Justice Arthur Engoron to furrow his brow, he otherwise did not react.

                    Trump's fury erupted after Engoron interrupted his tangent about a disclaimer clause included in his financial statements, which the former president has previously argued were intended to advise reviewers against trusting the accuracy of the listed asset valuations.

                    "No, no, no. We’re not going to hear about the disclaimer clause," Engoron interjected. "If you want to hear about the disclaimer clause, read my opinion again, or for the first time, perhaps."

                    In a partial summary judgment before the trial began — in which he found Trump, his two adult sons and other Trump Organization executives liable of fraud — Engoron rejected Trump's disclaimer clause defense, writing that because the financial statements did not specify which information was "misrepresented or undisclosed" and they were "unquestionably" based on information within the defendants' knowledge, "defendants may not rely on such purported disclaimers as a defense."

                    Thus the clause, Engoron wrote in the September filing, does not only fail to "rise to the level of an enforceable disclaimer" but does not say what the defense argued it did and can not be used to insulate fraud.

                    "You're wrong in your opinion," Trump told Engoron Monday following the interjection. He also called Engoron's opinion a "fraudulent decision," according to New York Daily News reporter Molly Crane-Newman.

                    Trump also "has been screaming insults" at New York Attorney General Letitia James in the front row. "The fraud is her," he yelled, according to Crane-Newman.

                    "He called me a fraud, and he didn’t know anything about me!” Trump went on, directing his rage back toward Engoron.

                    "It’s a terrible thing you’ve done. You know nothing about me, you believe that political hack back there," Trump added, referring to James, "and that’s unfortunate."

                    National security lawyer Bradley Moss wrote on X, formerly Twitter, that the former president's behavior on the stand is a display of Trump's "privilege" in the case.

                    "Someone's privilege is showing. No one else would be permitted to do this," Moss said. He also explained why Engoron remained relatively tight-lipped through Trump's outburst.

                    "For those asking why the judge is letting this slide, it's because this is not a jury trial," Moss added. "Trump lost the political motivation argument in pre-trial motions. If there was a jury the judge would intervene but the judge is the trier of fact here."
                    ____________

                    This is the supposed 'stable genius' that the former Republicans Party want to re-elect.

                    I think it safe to say that the Trump Org is going to be dissolved in a vat of legal acid when this is all over.
                    “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                    Comment


                    • Originally posted by TopHatter View Post
                      Trump “just yelled at the judge” for several minutes — and has been “screaming insults” at NY AG judge is the trier of fact here." .....
                      ____________

                      This is the supposed 'stable genius' that the former Republicans Party want to re-elect.

                      I think it safe to say that the Trump Org is going to be dissolved in a vat of legal acid when this is all over.
                      This is a civil trial not a criminal one so Trump obviously feels comfortable saying what he thinks, to the extent he is thinking that is and not just reacting. I will be very surprised if the lawyers representing him in his criminal trials don't try to muzzle this behavior far more actively than they seem to be in this case. On the plus side he has at least admitted to grossly overestimating the values of some of his properties, including his NYC apartment in loan applications. Not so sure the Trump organization or Trumps wealth will be completely destroyed though, crippled yes but for reasons I've stated previously I don't think the family is going to end up living in a house on wheels.

                      On a side note if he does blow his top at a judge during one of his criminal proceedings and is convicted it might well have serious consequences for his sentence. Usually judges will take the demeanor of a defendant and the manner in which a defendant answers questions in court into consideration when considering his character/repentance/chances of rehabilitation etc. So Donald could quite easily dig himself into a deeper hole if he's not careful.
                      Last edited by Monash; 06 Nov 23,, 23:36.
                      If you are emotionally invested in 'believing' something is true you have lost the ability to tell if it is true.

                      Comment


                      • Originally posted by Monash View Post

                        This is a civil trial not a criminal one so Trump obviously feels comfortable saying what he thinks, to the extent he is thinking that is and not just reacting. I will be very surprised if the lawyers representing him in his criminal trials don't try to muzzle this behavior far more actively than they seem to be in this case. On the plus side he has at least admitted to grossly overestimating the values of some of his properties, including his NYC apartment in loan applications. Not so sure the Trump organization or Trumps wealth will be completely destroyed though, crippled yes but for reasons I've stated previously I don't think the family is going to end up living in house on wheels.

                        On a side note if he does blow his top at a judge during one of his criminal proceedings and is convicted it might well have serious consequences for his sentence. Usually judges will take the demeanor of a defendant and the manner in which a defendant answers questions in court into consideration when considering his character/repentance/chances of rehabilitation etc. So Donald could quite easily dig himself into a deeper hole if he's not careful.
                        Talking that way to a judge doesn't really matter if the trial is civil or criminal. He's getting away with it because he's a former president and also because this is a bench trial. Anyone else would've been jailed for contempt long before now. Hell, he still might be, who knows.

                        As far as the Trump Org is concerned, you're right, I doubt they'll wind up living in a trailer park somewhere, but the penalties involved with effectively destroy their current business structure, which was already rickety as hell.

                        The NYAG is seeking $250 million in damages and the blacklisting of the Trump Org in NY. That's $250 million in cold hard cash. Not even successful and smart businesspeople keep that kind of cash on hand. Even when Trump appeals, he'll have to put up that amount as a bond or whatever the term is. Trump's gonna be extremely familiar with the word "liquidation" very soon.

                        Ivanka'll be fine, she's got Jared and his $2 billion Saudi fund to live off of. But Uday and Qusay are gonna have to learn a whole new grifting game.
                        “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                        Comment


                        • Originally posted by TopHatter View Post

                          Talking that way to a judge doesn't really matter if the trial is civil or criminal. He's getting away with it because he's a former president and also because this is a bench trial. Anyone else would've been jailed for contempt long before now. Hell, he still might be, who knows.

                          As far as the Trump Org is concerned, you're right, I doubt they'll wind up living in a trailer park somewhere, but the penalties involved with effectively destroy their current business structure, which was already rickety as hell.

                          The NYAG is seeking $250 million in damages and the blacklisting of the Trump Org in NY. That's $250 million in cold hard cash. Not even successful and smart businesspeople keep that kind of cash on hand. Even when Trump appeals, he'll have to put up that amount as a bond or whatever the term is. Trump's gonna be extremely familiar with the word "liquidation" very soon.

                          Ivanka'll be fine, she's got Jared and his $2 billion Saudi fund to live off of. But Uday and Qusay are gonna have to learn a whole new grifting game.
                          If convicted the penalties for these regulatory breaches will most likely cripple the Trump Group anyway regardless of how he conduct's himslef in court. Trump undoubtedly knows this so what's an extra 10 or 20 mil in fines on top for bad mouthing the judge going to mean? Not much. That being the case I'm guessing he figures he may as well say what he wants at this point. The criminal trials however will be a different story.
                          If you are emotionally invested in 'believing' something is true you have lost the ability to tell if it is true.

                          Comment


                          • Originally posted by Monash View Post

                            If convicted the penalties for these regulatory breaches will most likely cripple the Trump Group anyway regardless of how he conduct's himslef in court. Trump undoubtedly knows this so what's an extra 10 or 20 mil in fines on top for bad mouthing the judge going to mean? Not much. That being the case I'm guessing he figures he may as well say what he wants at this point. The criminal trials however will be a different story.
                            True true...and the criminal trials will be jury trials. And Trump can fundraise and campaign from the witness stand on this trial.

                            I hesitate to use Michael Cohen as a source, but he predicts Trump's financial losses as, putting it mildly, severe:

                            Cohen predicts that the ex-president faces a potential judgment of $600 million or more, "How much money is the state going to fine him as a direct result of the actions that he took with those statements of financial condition? We know that it is a baseline. The bottom number is $250 million. Mind you, that doesn't even begin to touch the additional disgorgement that they're going to be looking for, nor does it take into consideration the fines and the penalties associated with this type of a case. So, I suspect it's going to be substantially more than the $250 million. In fact, I've been so bold as to make a prediction that it'll be between $600 and $700 million.

                            Mind you, he does not have that in equity. So when these assets get sold — remember, he is low-basis in most if not all of these assets — take the tax implications and then subtract from that the outstanding mortgages that may exist. Technically, there's nothing left."

                            “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                            Comment



                            • "Mind you, he does not have that in equity. So when these assets get sold — remember, he is low-basis in most if not all of these assets — take the tax implications and then subtract from that the outstanding mortgages that may exist. Technically, there's nothing left."


                              The Dildo Of Consequences Rarely Arrives Lubed. - Kermit
                              “Loyalty to country ALWAYS. Loyalty to government, when it deserves it.”
                              Mark Twain

                              Comment


                              • Originally posted by Albany Rifles View Post
                                "Mind you, he does not have that in equity. So when these assets get sold — remember, he is low-basis in most if not all of these assets — take the tax implications and then subtract from that the outstanding mortgages that may exist. Technically, there's nothing left."


                                The Dildo Of Consequences Rarely Arrives Lubed. - Kermit
                                To quote Warden Samuel Norton, Trump is gonna think he got fucked by a train...
                                “He was the most prodigious personification of all human inferiorities. He was an utterly incapable, unadapted, irresponsible, psychopathic personality, full of empty, infantile fantasies, but cursed with the keen intuition of a rat or a guttersnipe. He represented the shadow, the inferior part of everybody’s personality, in an overwhelming degree, and this was another reason why they fell for him.”

                                Comment

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