Trump Finance and Documents Lawsuits

This is just a quick update.

Finance Civil Lawsuit, September 21, 2022. NY Attorney General Letitia James filed a civil lawsuit against Donald Trump and his three children (Eric, Ivanka and Donald, Jr) alleging a long series of highly inflated estimates of the asset values of properties owned by the Trump Organization. The inflated estimates were used to in general to obtain loans. Other false estimates were provided to insurance companies to show the Trump organization had sufficient asset to guarantee repayment of the loans. The AG explained the basis of the charges at a press conference on September 21, 2022.

The lawsuit is provided below.

As many excellent summaries of the civil lawsuit have been posted on the internet, I will not summarize the complaint, except to say it is 222 pages long, with 838 numbered paragraphs. I note the complaint provided below, is user friendly, as one can click on any of the items in the table of contents, and it will go directly to the specific paragraph. Page 213 is the “Prayer for Relief” which is way the Attorney General would like to rule against defendants. This is all up to the courts.

According to Politico:

“James’ suit relies on a special statute for repeat instances of alleged violations of the law, stemming from real estate transactions. She is also filing a criminal referral to federal prosecutors in Manhattan and a separate tax fraud referral to the IRS for the same underlying allegations.”

See Link: Trump, company and family members sued by New York AG over alleged fraud scheme

The legal pundits have indicated that it may be more than a year before this goes to trial. With so many alleged violations, if this is a trial by jury, it will be a brutal ordeal for jurors. And the criminal investigations will continue, and these can result in jail sentences for Donald Trump and gang.

In the meantime, I wonder if anyone would loan money to Trump?

The Mar-a-Lago Documents case

The Appellate Court moved at lightening speed to allow DOJ access to 100 classified documents. It is likely that Trump’s lawyer will ask the full panel of the Appellate Court to review the decision and stay the decision of the 3-judge panel while under appeal. I think this will happen quickly.

Stay tuned,

Dave

I’ll see you in court

Trump didn’t like the election results. After 62 lawsuits, not one single vote changed. But, this was pure Trump. A barrage of lawsuits. Now the tables have turned, and he’s the one in the firing range, without much to fire back.

Welcome to New York City, Mr. Trump. There is no hometown advantage here. This is where he was sued for fraud in the Trump University ($25 million) and Trump charities ($3 million).

There are a lot of cases chasing Donald Trump, but I’m keeping my eye on the Manhattan District Attorney Cyrus Vance case, because it is a criminal case, and has a good chance of finally going forward after 3 years. It began in 2018, when Trump could claim protection to his records as president. And yes, it is all about defrauding the government on taxes.

Vance has the treasure trove of the Trump’s organization tax records, courtesy of a Supreme Court ruling. Michael Cohen, Trump’s all important fixer, is helping him. Be careful of the enemies you make when you are going up, they may be the same ones you see going down. The focus with the Vance case is the legitimacy of a 46 million dollar tax break in real estate transactions. See Washington Post article for details.

A second case is spearheaded by New York Attorney General Letitia James, and yes, more real estate transaction. But this one is a civil suit, so I think it could be settled out of court. Again, the Washington Post has the details.

Now, in reference to these cases, remember those that know, don’t talk, and those that talk don’t know. Or they speculate. Vance and James can’t share tax information.

Trump can pay some of the legal fees from his PAC money, reported as “over 31 million dollars.” Sorry, these are unbelievable suckers to think “Saving America” and bailing out a billionaire with tax fraud problems are some how compatible.

If successful, Michael Cohen will likely be pleased. Likely he learned from his former boss – Revenge is sweet.

Stay tuned,

Dave

Links:

Washington Post, Lawsuits against Trump