Trump Shell Game

A new new company with a familiar name was incorporated in Delaware on September 15th: Trump Organization II LLC. It registered to do business in New York State on September 21st, the same day that state’s attorney general filed a 220-page fraud lawsuit against Donald Trump, his family, and the original Trump Organization, the umbrella company for the former president’s real-estate and golf resorts. NY AG James has filed court papers to prevent Trump from sheltering assests by shifting them from Trump Org I to Trump Org II in a corporate shell game.

More:

“Trump Forms New Company, Drawing Scrutiny From N.Y. Attorney General,” Ben Protess, Jonah E. Bromwich and William K. Rashbaum, New York Times

“Trump Organization II Mocked as Court Filings Reveal New Delaware Company,” Zoe Strozewski, Newsweek

“Trump Organization assets should be frozen, New York attorney general asks court,” Max Jaeger, Politico

_________________
Short Link: https://wp.me/p6sb6-C8N

Image (“Trump Shell Game”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Trump Fraud Lawsuit: Red Meat?

After a three-year civil investigation into the Trump Organization’s business practices, New York State Attorney General Letitia James has sued Donald Trump, his adult children Donald Jr., Eric, and Ivanka, and Trump Organization employees for falsely inflating the value of assets for many years to receive tax breaks and favorable loan and insurance rates. The suit aims to recover $250 million. Said AG James: “Claiming you have money that you do not have does not amount to the art of the deal. It’s the art of the steal.”

Attorney General James seeks to bar Trump and his organization from buying commercial real estate or receiving bank loans for five years, and to permanently bar Trump, Donald Jr., Ivanka, and Eric Trump from serving as executives in any New York companies. Naturally, Trump’s attorney called the filing politically motivated.

This is a civil suit, but the charges, if true, would point to federal and local criminal charges, and AG James has referred these matters to the US Attorney’s Office for the Southern District of New York and the Manhattan District Attorney.

More:

“Donald Trump, 3 of his children accused of business fraud by New York AG,” Shayna Jacobs and Jonathan O’Connell, Washington Post

“New York attorney general lawsuit accuses Trump of ‘staggering’ fraud,” Hugo Lowell, Maya Yang and Martin Pengelly The Guardian

“‘Art of the steal’: Trump accused of vast fraud in NY suit
By Michael R. Sisak and Larry Neumeister, Associated Press

“New York attorney general sues Trump, accuses him of “astounding” fraud and deception,” Andrew Prokop, Vox

Updates:

“It’s Just Fraud All the Way Down,” David A. Graham. The Atlantic

“As Trump’s Legal Woes Mount, So Do Financial Pressures on Him,” Maggie Haberman, Ben Protess, Matthew Goldstein and Eric Lipton, New York Times

“Are Mar-a-Lago and other Trump-owned properties over-valued?” Sam Cabral, BBC News

“How Screwed Are Donald Trump and His Adult Children, and Other Questions You Might Have About the ‘Staggering’ Fraud Lawsuit Against Them,” Bess Levin, Vanity Fair

___________________

Short Link: https://wp.me/p6sb6-Bqx

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

 

Trump Boosts His Business Interests In India

President Donald Trump, real estate promoter and U.S. President, is visiting the land of the Trump Organization’s largest foreign business interests, India. Fellow authoritarian ruler Prime Minister Narendra Modi will show Mr. Trump what a real mass rally looks like, and probably explain how to deprive Muslim residents of their citizenship. There will also be some arms deals and trade talks. President Trump will be returning to the U.S. in 48 hours since there are no Trump golf courses in India for him to cheat play on this weekend.

Update:

President Trump, First Lady Melania, White House Lifestyle Consultant Ivanka, and Secretary of Everything Jared all visited India’s most famous Muslim tomb, freshly cleaned for their enjoyment and photo-ops. PM Modi’s advisors scared off the neighborhood monkeys. Mr. Trump, a longtime admirer of India’s Islamic Mughal heritage, named his money-laundering  twice-bankrupt Atlantic City casino the Trump Taj Mahal.

More:

“India is home to the most Trump ventures outside North America. Here’s what you need to know.” Niha Masih and Joanna Slater, Washington Post

“Trump visits a big foreign market — for the U.S. and for Trump Org,” Anita Kumar, Politico

Updates:

“Deadly clashes erupt in Delhi as Trump visits India,” Rebecca Falconer, Axios

“New Delhi Streets Turn Into Battleground During Trump’s Visit,” Jeffrey Gettleman, Suhasini Raj and Sameer Yasir, New York Times

“13 killed in violent clashes in Delhi amid Trump’s visit,” Debarshi Dasgupta, Straits Times

“In India, Trump hails no trade deal as a win,” Anita Kumar, Politico

“What Exactly Is Ivanka Trump Doing in India?” Michelle Ruiz, Vogue

“‘Up to India’: Trump evades questions about Muslim-excluding citizenship law,” Anita Kumar, Politico

___________________

Short Link: https://wp.me/p6sb6-utd

Image based on information from the Washington Post. Download a copy here. 

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Otisville Vacation

Business Notice:

Michael Cohen, Esq., former Executive Vice President of the Trump Organization, is relocating to the federal enclave at Otisville NY, in leafy Orange County, for a 3-year residency. Please refer all future Donald Trump obstruction of justice proposals to William P. Barr, 950 Pennsylvania Avenue NW, Washington, DC 20530-0001.

More:

“Michael Cohen, by Turns Lawyer and Witness, Becomes an Inmate,” Maggie Haberman, Ben Protess and William K. Rashbaum, New York Times

“As Cohen heads to prison, Trump is ensnared in more questions about possible illegal behavior,” Phillip Bump, Washington Post

“Hundreds of former prosecutors say Trump would’ve been charged with obstruction if he weren’t president,” Jacqueline Thomsen, The Hill

__________________

Short Link: https://wp.me/p6sb6-t87

Image (“Portrait of a Trump Lawyer”) by Mike Licht. Download copies here. Creative Commons license; credit Mike Licht, NotionsCapital.com.

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Add to: Facebook | Digg | Del.icio.us | Stumbleupon | Reddit | Blinklist | Twitter | Technorati | Yahoo Buzz | Newsvine