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☆ Shvartsman brothers plead guilty to insider trading on Trump Media merger plans
▼ + stars: | 2024-04-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

"I've made a terrible mistake," Gerald Shvartsman, 46, told Judge Lewis Liman in Manhattan federal court as he pleaded guilty, according to the Associated Press. Michael Shvartsman, 53, and Gerald Shvartsman, who owns a furniture manufacturing company, are scheduled to be sentenced on July 17. Sentencing guidelines recommend that Gerald Shvartsman, who netted about $4.6 million in illegal trading profits, receive a prison term of between 33 and 41 months. Alan Futerfas, a lawyer for Michael Shvartsman, declined to comment on the guilty plea. A lawyer for Gerald Shvartsman did not immediately respond to a request for comment.

Persons: Donald Trump's, Michael Shvartsman, Gerald Shvartsman, DWAC, I've, Judge Lewis Liman, Bruce Garelick, Michael Shvartsman's, Liman, Damian Williams, Alan Futerfas Organizations: Trump Media & Technology Group, Trump Media, Associated Press, Rocket, Manhattan U.S Locations: Florida, New York, Manhattan, Michael Shvartsman's Miami

☆ Two defendants in Trump Media insider trading case signal possible guilty pleas
▼ + stars: | 2024-04-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +5 min

A Florida venture capitalist and his brother moved Monday toward potential guilty pleas in an insider trading case connected to the merger that took Donald Trump's social media company public last week. A new court filing Monday revealed that a change of plea hearing for the brothers will be held Wednesday afternoon in U.S. District Court in Manhattan. Trump Media and Technology Group mentioned the case in a securities filing on Monday. As of late Monday, there was no change of plea hearing for him scheduled on the docket. They are accused of buying up DWAC stock based on nonpublic information that the shell company was considering a possible merger with Trump's social media company, Trump Media and Technology Group, which owns the Truth Social app.

Persons: Michael Shvartsman, Donald Trump's, Gerald Shvartsman, Alan Futerfas, Michael Shvartsman's, Futerfas, Donald Trump, Shvartsman, Gerald Shvartman, Roland Riopelle, Bruce Garelick, Garelick, Judge Lewis Liman, Gerald, DWAC Organizations: Manhattan Federal Court, Trump Media, Trump Organization, CNBC, Technology Group, TMTG, DOJ, Department of Justice, U.S, Attorney's, Trump Media's, Nasdaq, Corp, Rocket, Shvartsman Locations: Manhattan, New York City, U.S, Florida, New York, South Florida, Miami, DWAC

☆ Michael Cohen's involvement with Donald Trump racked up his legal bills. He wants the Trump Org to pay them.
▼ + stars: | 2023-07-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Michael Cohen racked up millions of dollars in legal fees because of his involvement with Trump. But we'll get the second-best thing: Donald Trump Jr.Daddy Trump isn't obligated to show up. Trump Organization lawyers have agreed to produce Donald Trump Jr., an executive at the Trump Organization, as a witness in the case. Donald Trump Jr. is expected to testify on Monday or Tuesday, or both, according to a letter filed by Trump Organization lawyers ahead of the trial. Former President Donald Trump sits at the defense table with his criminal defense team in a Manhattan court.

Persons: Michael Cohen, he's, Mueller, Stormy Daniels, Donald Trump, Cohen, Trump, Cohen hasn't, Robert Mueller's, Stephanie Clifford, Donald Trump's, Lanny Davis, Mary Altaffer, doesn't, Daniels, He's, Will Trump, Donald, we'll, Donald Trump Jr, Daddy Trump, — Cohen, —, wasn't, it's, Joel Cohen, Judge Cohen, King, Kimberly Guilfoyle, Alex Wong, Hunter Winstead, Michael Cohen's, Alan Garten, Jay Sekulow, Alan Futerfas, isn't Cohen, Seth Wenig, Pool Cohen, Cohen's, Isn't Trump, Jack Smith's, Fani Willis Organizations: Trump, Trump Organization, Service, FBI, New York, AP, Republican Locations: Wall, Silicon, Manhattan, Florida, Fulton County, Georgia

☆ Exclusive: Westchester DA shuts down criminal investigation of Trump Organization without any charges
▼ + stars: | 2023-06-14 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Westchester's district attorney shut down its criminal investigation into the Trump Organization this month. The district attorney's office in Westchester — a county north of New York City — opened the investigation two years ago. In April, the district attorney brought another set of charges against Trump himself, alleging he broke the law by disguising hush-money payments to Stormy Daniels. Alan Futerfas, an attorney representing the Trump Organization, declined to comment on the closure of the Westchester County investigation. The lawsuit also claims the Trump Organization misrepresented the property value of its 212-acre Seven Springs estate, also in Westchester County.

Persons: Donald Trump, —, Mimi Rocah, Elliott Jacobson, Rocah, New York City —, Donald Trump's, Allen Weisselberg, Trump, Stormy Daniels, Alan Futerfas, Letitia James, Mike Segar, Jack Smith, Fani Willis, who's, Smith, Joe Biden's, Donald J Organizations: Trump Organization, Manhattan DA, NY, Service, Trump National Golf Club Westchester, New York Times, The, New, New York, Trump, REUTERS, Mar, Park Locations: Westchester's, Westchester County, Westchester —, New York City, Ossining, The Manhattan, Manhattan, Westchester, New York, Springs, Miami, Fulton County, Georgia

☆ 5 reasons to applaud the smart, speedy jury that convicted the Trump Organization of tax fraud
▼ + stars: | 2022-12-11 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

A Manhattan jury convicted Donald Trump's company of all 17 tax-fraud counts on Tuesday. But he would not implicate anyone named Trump — not Donald Trump, who he worked for since the 1980s. And not any of Trump's three eldest kids — Donald Trump Jr., Eric Trump, or Ivanka Trump, who have all served as Trump Organization executive vice presidents. Back during jury selection in late October, defense lawyers had the darnedest time finding Manhattan residents who didn't hate Donald Trump. They certainly did not look like Donald Trump's C-suite of well-paid, white-collar white men.

WHITE HOUSE RUNOn Nov. 15 Trump launched his campaign for the Republican nomination to take on Democratic President Joe Biden. NEW YORK CRIMINAL PROBEAfter Tuesday's verdict in the tax fraud case, the New York state judge set sentencing for Jan. 13. GEORGIA ELECTION TAMPERING PROBEA special grand jury was empanelled in May for a Georgia prosecutor's inquiry into Trump's alleged efforts to influence that state's 2020 election results. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties.

[1/6] Former U.S. President Donald Trump attends a rally to support Republican candidates ahead of midterm elections, in Dayton, Ohio, U.S. November 7, 2022. Alan Futerfas, a lawyer for the Trump Organization, told reporters the company would appeal. SEPARATE LAWSUITThe Trump Organization separately faces a fraud lawsuit brought by New York state Attorney General Letitia James. The Trump Organization argued that Weisselberg carried out the scheme to benefit himself. "The whole narrative that Donald Trump was blissfully ignorant is just not real," Steinglass said.

NEW YORK CRIMINAL PROBEFollowing Tuesday's verdict, the New York state judge set a sentencing date for Jan. 13. U.S. Attorney General Merrick Garland on Nov. 18, three days after Trump announced his 2024 presidential run, appointed Jack Smith special counsel to take over two Justice Department investigations. Trump has accused the Justice Department of engaging in a partisan witch hunt. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties.

☆ 'Donald Trump knew exactly what was going on' in Trump Org. tax fraud, Manhattan prosecutor says in summations
▼ + stars: | 2022-12-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Late Thursday, a prosecutor told jurors Trump "knew exactly" how his top executives dodged taxes. The "Trump was in on it" pronouncement, made in summations by prosecutor Joshua Steinglass, prompted strong opposition from defense lawyers after jurors left the courtroom for the day. One defense lawyer, Alan Futerfas, objected that Steinglass violated an agreement not to speculate to jurors about what Trump knew or didn't know. "The first problem of the 'prodigal son' narrative," Steinglass told jurors Thursday, "is he didn't steal from the company. The two Trump Organization subsidiaries face a maximum $1.6 million in penalties if convicted of conspiracy, scheme to defraud, and tax fraud.

Weisselberg testified that during the cleanup, Trump's sons knew the company paid executives' personal expenses that were not reported as income, and gave them bonuses as if they were independent contractors. Weisselberg said the company also did not fire or otherwise discipline two other executives who had engaged in similar practices. He said he had little interaction with Trump about the company after Trump became president. But he said Trump was aware the company had paid rent on Weisselberg's luxury Manhattan apartment for years, and signed the lease in 2005. Weisselberg told Hoffinger he did not recall whether Futerfas seemed unhappy with his testimony.

But Weisselberg said Trump did not conspire with him on the tax fraud scheme for which the Trump Organization is on trial. Weisselberg pleaded guilty in August and agreed to testify as part of a plea deal. But under cross-examination by Trump Organization lawyer Alan Futerfas, Weisselberg said he conspired with McConney, but not with any member of the Trump family. McConney is immune from prosecution for the tax fraud because he testified before the grand jury that indicted both Weisselberg and the Trump Organization. The questionable practices eventually came to an end in 2017 when Trump became president, Weisselberg said.

Asked by Trump lawyer Alan Futerfas in cross-examination whether Trump or anyone else in the company gave him permission to "commit tax fraud," Weisselberg said, "No." Former Trump Organization Chief Financial Officer Allen Weisselberg and attorney Alan Futerfas in court in New York on Thursday. Former Trump Organization Chief Financial Officer Allen Weisselberg, left, arrives in court in New York on Thursday. He also agreed “to testify truthfully at the upcoming trial of the Trump Organization” or face up to five to 15 years in prison. He testified earlier Thursday that the Trump Organization cleaned up its business practices after Trump was elected president because of the extra scrutiny it was under.

☆ Trump Org ex-CFO tears up on stand while describing his 'betrayal' of the Trump family
▼ + stars: | 2022-11-17 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Donald Trump's ex-CFO is the key DA witness in the Trump Organization tax-fraud trial in Manhattan. Alan Futerfas, a Trump Org defense lawyer, asked the wistful witness in a courtroom in Manhattan. Futerfas asked Weisselberg. Futerfas asked. the lawyer asked.

☆ Trump Org is battling prosecutors over 3 little words that could swing the New York tax-fraud trial
▼ + stars: | 2022-11-13 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

It's not enough, they'll be told, for Trump Org executives to get caught selfishly stuffing their pockets. Prosecutors, meanwhile, find the three words so worrisome, they asked the judge — unsuccessfully — to strike them from the case entirely. In defense of their love or hate of the three words, the sides have cited a gamut of arcane case law and other source material. Holtzman — who, as a US Congresswoman, voted to impeach Richard Nixon — is the author of "The Case For Impeaching Trump." Much of the case law being cited, the judge said, was not quite on point, including the bilge and thermometer decisions.

☆ October 24 trial date set for Trump Organization and its former top money man Allen Weisselberg
▼ + stars: | 2022-08-12 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

A Manhattan judge has set an October 24 trial date for Donald Trump's business and his former CFO. Before learning their trial date, Weisselberg and lawyers for the Trump family business first learned a string of bad, though likely expected, news. If convicted of the grand larceny charge, Weisselberg, 74, would have to serve a mandatory minimum of one year in jail; the charge allows for the unlikely maximum sentence of 15 years. Also at the prosecution table was Gary Fishman, who is leading New York Attorney General Letitia James' probe into Trump and the Trump Organization; he is cross-designated as a Manhattan prosecutor. The prosecution of Weisselberg and the Trump Organization is the only indictment to come out of Manhattan.

NEW YORK, Feb 23 (Reuters) - Two prosecutors who had been leading the Manhattan district attorney's criminal probe into former U.S. President Donald Trump and his business practices have resigned, the district attorney's office said on Wednesday. Neither the Trump Organization nor its lawyer Alan Futerfas immediately responded to requests for comment. The criminal probe resulted last July in tax fraud charges against the Trump Organization and its longtime chief financial officer, Allen Weisselberg. A new grand jury was convened in September to examine how the Trump Organization valued its assets. Pomerantz, a former federal prosecutor, had been on leave from the law firm Paul Weiss while working on the Trump probe.

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