“Is Fraud Part of the Trump Organization’s Business Model?”

 
unsmoked
 
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unsmoked
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19 October 2018 11:05
 

https://www.newyorker.com/news/swamp-chronicles/is-fraud-part-of-the-trump-organizations-business-model?

quote:  “This month, two incredible investigative stories have given us an opportunity to lift the hood of the Trump Organization, look inside, and begin to understand what the business of this unusual company actually is. It is not a happy picture. The Times published a remarkable report, on October 2nd, that showed that much of the profit the Trump Organization made came not from successful real-estate investment but from defrauding state and federal governments through tax fraud. This week, ProPublica and WNYC co-published a stunning story and a “Trump, Inc.” podcast that can be seen as the international companion to the Times piece. They show that many of the Trump Organization’s international deals also bore the hallmarks of financial fraud, including money laundering, deceptive borrowing, outright lying to investors, and other potential crimes.”

 
 
Twissel
 
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Twissel
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19 October 2018 12:17
 

What amazes me is what happened to all of Trump’s money: he started with incredible wealth, used every cheat and trick to avoid taxes and lied and defrauded to make more money.
And yet he has been through several bankruptcies and seems desperate for more money all the time.

What does he do with his cash? flush it down his golden toilet?

 
 
hannahtoo
 
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hannahtoo
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19 October 2018 16:00
 

And a lot of his supporters admire him even more for being so “smart” to play all the tricks, bend the rules, pay less taxes, live like a king.

 
MrRon
 
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MrRon
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19 October 2018 17:10
 

And Hillary is the crooked one?? Unbelievable!

Ron

 
hannahtoo
 
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hannahtoo
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19 October 2018 17:33
 

Here’s what I feel like asking my friends who voted for Trump (while holding their noses):

Look, he appointed a conservative Supreme Court Justice, as you wanted.  He moved the US Embassy in Israel to Jerusalem, as you wanted.  Check, check.  The wall is never going to get built.  Now can you start admitting that Trump is as crooked as a dog’s hind leg, so we can get rid of him asap?

 
Jb8989
 
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Jb8989
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20 October 2018 07:52
 

Most of the media misses how he does this. They get wrapped up in whining about how often he lies - specifically about inconsistent statements he makes. But there’s an important difference between a person who makes inconsistent statements and a person who relies on vaguities. He does this so well that his objective lies have their own red herring value, getting the left looking for squirrels.

About the only thing he’s great at - and make no mistake he’s masterful at it - is toeing the line between ambiguity and fact just enough to signal messages to an oblivious base. Bannon said you gotta separate the signal from the noise. He was half right.

 
 
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20 October 2018 10:38
 

https://www.washingtonpost.com/opinions/trump-ducked-the-tax-code-the-irs-made-it-easy/2018/10/04/102409aa-c80b-11e8-b2b5-79270f9cce17_story.html?noredirect=on&utm;_term=.c2081a5db04e

quote:  “What to do with this information? Beyond all the Trump-specific takeaways — such as, duh, we need to see his tax returns — two much broader policy conclusions shouldn’t get lost here:

1. We need to adequately fund the IRS.

2. What’s scandalous here isn’t just what’s illegal. It’s also what is legal .

“If you’re wondering how Trump was able to duck the tax authorities for so long, given the brazen acts documented by the Times, note that we have basically stopped prosecuting tax crimes and other white-collar offenses. This year, we are on track to notch the fewest tax fraud prosecutions on record, about one-third the level seen 30 years ago.”

“There are lots of reasons tax cheats are sleeping easier than they used to. One is that Congress has repeatedly stripped the IRS of money and staff, though the IRS brings in much more money than it spends.”

Unsmoked asks:  ‘Stripping the IRS of money and staff’ - is that what Trump means by ‘draining the swamp’?

Rudy Giuliani explains why Trump hasn’t paid income taxes:  https://www.cnn.com/2016/10/02/politics/rudy-giuliani-trump-genius-taxes/index.html

 
 
hannahtoo
 
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hannahtoo
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20 October 2018 11:19
 

Well, there are legal loopholes, and then there is fraud.  If Trump has committed fraud, then he should be prosecuted.

Here’s an example from the NY Times article:

The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants.

I’ve read that the IRS is unlikely to pursue these issues for various reasons, but NY State may.

https://www.usatoday.com/story/news/politics/2018/10/03/trump-taxes-irs-unlikely-probe-fraud-claims-detailed-newspaper/1515405002/

In any case, the original NYT article blows up Trump’s claim that he received “only” a one million dollar loan from his father, which he parlayed into billions.  But his supporters don’t care if he has lied…obviously.

 
unsmoked
 
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20 October 2018 11:53
 
hannahtoo - 20 October 2018 11:19 AM

Well, there are legal loopholes, and then there is fraud.  If Trump has committed fraud, then he should be prosecuted.

Here’s an example from the NY Times article:

The most overt fraud was All County Building Supply & Maintenance, a company formed by the Trump family in 1992. All County’s ostensible purpose was to be the purchasing agent for Fred Trump’s buildings, buying everything from boilers to cleaning supplies. It did no such thing, records and interviews show. Instead All County siphoned millions of dollars from Fred Trump’s empire by simply marking up purchases already made by his employees. Those millions, effectively untaxed gifts, then flowed to All County’s owners — Donald Trump, his siblings and a cousin. Fred Trump then used the padded All County receipts to justify bigger rent increases for thousands of tenants.

I’ve read that the IRS is unlikely to pursue these issues for various reasons, but NY State may.

https://www.usatoday.com/story/news/politics/2018/10/03/trump-taxes-irs-unlikely-probe-fraud-claims-detailed-newspaper/1515405002/

In any case, the original NYT article blows up Trump’s claim that he received “only” a one million dollar loan from his father, which he parlayed into billions.  But his supporters don’t care if he has lied…obviously.

As you observed earlier, his supporters admire him for bilking the system.  Now he is playing them to give him the votes, the power and immunity needed to prevent prosecution for fraud and other illegal activity.

http://www.univsource.com/words/bilk-verb.htm