When the whole image, business and public persona is built on lie. The former President Donald J Trump and his Vice Presidents of the Trump Organization is in bigger trouble than ever before. Trump and his kin is now in dire jeopardy. This means that Ivanka Trump, Donald Trump Junior and Eric Trump could all loose licence and ability to run businesses. That’s serious implications, as well, as the possibility to cease all business operation of the Trump Organization itself. Meaning all the corporations connected and in the association with Trump Organization could all cease their works when the case is over.
The case in New York can be detrimental to them. The systemic fraud, tax evasion and wire-fraud. The inflated valuation of the real-estates for loans and decreased evaluation for the taxes. Are the manner of which the Trump Organization has earned fortunes. This is why this whole case is astonishing.
You know it’s really hard hitting when everything is pinned by the NY Attorney General:
“The 16 defendants in this case include: Donald Trump, Donald Trump, Jr., Ivanka Trump, Eric Trump, the Trump Organization Inc., the Trump Organization LLC, the Donald J. Trump Revocable Trust, DJT Holdings LLC, DJT Holdings Managing Member, Allen Weisselberg, Jeffrey McConney, as well as the entities that received the loans that are the subject of the action, including: Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post Office LLC, 40 Wall Street LLC, and Seven Springs LLC” (NY Attorney General, 21.09.2022).
This case is just shattering how the Trump Organization and everyone involved did this deliberately. They had a scheme which was done in such a fashion. That they lied to the banks and also to the IRS. Not that anyone is a friend with the IRS or the banks, but lying to them for profit is illegal. This wasn’t technicalities, but what the Trump Organization did with all of their means.
The key areas of the 222 pages long lawsuit can boiled down to this:
“The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump, and Eric Trump, and senior executives at the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things. From 2011-2021, Mr. Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions. This conduct was in violation of New York Executive Law 63(12), which gives the Office of the Attorney General (OAG) special and broad powers to go after persistent and repeated fraud and illegality, which in this case includes violating other state laws prohibiting the submission of false financial statements, the falsification of business records, and the commission of insurance fraud. As a consequence of these violations, OAG is seeking, among other relief, to: 1) permanently bar Mr. Trump, Donald Trump, Jr., Ivanka Trump, and Eric Trump from serving as an officer or director in any New York corporation or similar business entity registered and/or licensed in New York state; 2) bar Mr. Trump and the Trump Organization from entering into any New York real estate acquisitions for five years; 3) award disgorgement of all financial benefits obtained through the persistent fraudulent practices, estimated to total $250 million” (NY Attorney General, 21.09.2022).
This here just show how intentional it was done by the Trump Organization. It was year after year and done to secure beneficiary loans or lax taxes. They did this to ensure they paid less taxes and inflated the values to get better conditions on the loans. Therefore, they tricked the banks and the IRS. If a citizen or a low ranking civilian did this. The authorities would have asked for every penny back in a hot minute after the audit of the taxes. However, Trump Organization has been able to get away with it. As a sophisticated blue-collar crime. Now these sorts of violations, breaches and illegalities are catching up with him.
Donald J. Trump and his family members will feel this one. They might loose the ability to run businesses. The same could happen to his Vice Presidents of the Trump Organization too. The actions made by the company and everyone involved are now under jeopardy. After the civilian case in the Southern District of New York (SDNY). This could be pushed to a criminal case by the IRS or others. Therefore, this case is only the beginning.
It doesn’t help Trump’s case either that he pleaded the Fifth in the deposition with the Attorney General a month ago. That he plead the fifth over 400 times and avoided answering any question. It is verify and will be used by the Courts to pin it on him. In the same regard, this case has also shown yet again that he has “obstructed justice” and not followed “subpoenas”. Meaning he didn’t follow proceedings and keeping up with the investigation. That Trump and his company withheld vital documents, which was just kept at Mar-A-Lago and only found by the FBI search on the 8th August 2022.
Which was described like this: “But even after almost two years of litigation it appears that it may still be the case that not all responsive documents were produced. Among other things, in litigation over a search warrant executed at Mar-a-Lago on August 8, 2022, the United States District Court for the Middle District of Florida noted that “the seized materials include… correspondence related to taxes, and accounting information.” Trump v. United States, 22 Civ. 81294, Order, Docket 64 (S.D. Fla. Sept. 5, 2022). Documents concerning taxes and accounting information would appear to be responsive to OAG’s subpoenas, but no such documents for Mr. Trump were produced by counsel for Mr. Trump despite a representation by that counsel that: I “diligently searched each and every room of Respondent’s private residence located at Mar-a-Lago, including all desks, drawers, nightstands, dressers, closets, etc. I was unable to locate any documents responsive to the Subpoena that have not already been produced to the OAG by the Trump Organization.”” (NY Attorney General, 21.09.2022).
This is compelling and very obvious. It isn’t the first time either. All through the Trump Presidency. His White House and Staff wasn’t following subpoenas or the due process. There been so many times over the years, that Trump stalled or stifled the progression of any investigation. This is what his done and it’s well known. Now it’s just in print and in a Court Document. The NY Attorney General has surely show her finesse and ability to go into detail It will be hard for Trump and the Trump Organization to refute this in Court. Especially, when he pleaded the fifth on every single question ahead of the grand jury. Certainly, Trump and company should feel the burden of proof is on their hands.
Former President is now under the most pressure he has ever been. This could be the end of his lives work and his legacy as a businessman. The Trump Organization can easily be over after this. That is the end-game here and it must be stressful. You shouldn’t feel sorry for Trump or his Company. This has been in the making and the illegalities would catch up to him eventually. It isn’t like the IRS or the authorities would allow someone off the hook for not paying proper taxes. Neither would the banks accept being defrauded and mocked by the Trump Organization taking out these loans on false premises either. Because of all this… there is no real defence on doing it, but his lawyers will surely do their best. Though I have a hard time believing they have any grounds or ability to justify it either.
That’s why this solid case will be the start of everything unravelling. It goes to the heart of Trump. The acts of his business “empire” and what made him “rich”. Now the truth on how it operated and how it made money is shown to the world. Thing will never return to the same or be the same.
Former President Trump is now in trouble and he has nowhere to hide. Peace.