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☆ Fraud like nobody's watching: Trump was probed for 5 years, and still wouldn't clean up his act
▼ + stars: | 2024-02-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +11 min

Donald Trump's fraud verdict targets three things he values dearly: his cash, his New York business address, and the Trump Organization steering wheel. Otherwise, as Engoron noted in his verdict, Trump, his company, and his sons, Donald Trump Jr. and Eric Trump, "are likely to continue their fraudulent ways." In previous years, Trump has settled allegations of fraud involving the Trump Foundation, Trump University, and the 2017 Inaugural Committee, Amer pointed out in closings. The same day James concluded her initial investigation and filed her massive Trump fraud lawsuit, on September 21, 2022, Trump incorporated "Trump Organization II" in what her office worried was an attempt to shift and protect assets. Advertisement"In short," they added, Trump and Trump Organization leadership "have proven themselves incapable, time and again, of following the law."

Persons: Trump, Donald Trump's, —, he's, Letitia James, Arthur Engoron, James, he'll, Barbara Jones —, Judge Jones, Jones, Engoron, Donald Trump Jr, Eric Trump, Cushman, Trump's, Allen Weisselberg, Patrick Birney, Birney, Weisselberg, Donald, — Trump, Andrew Amer, Amer, — Jones, Jean Carroll, Kevin Wallace, Christopher Kise, Kise, She's Organizations: NY, Trump Organization, Trump, GOP, New York, Deutsche Bank, Mazars, Trump Org, Trump Foundation, Trump University, New, Independent Monitor Locations: New York, Mazars USA, Wakefield, Trump

☆ Donald Trump has worst day yet in NY civil fraud trial as underling's scribbled note ties him to conspiracy
▼ + stars: | 2023-11-21 | by ( Laura Italiano | ) www.businessinsider.com time to read: +9 min

The Trump civil fraud trial is now in its eighth week in New York. A handwritten note that implicates Donald Trump in his NY fraud trial. Donald Trump attends his New York civil fraud trial. Trump speaking to reporters outside the courtroom during his civil fraud trial in New York. And in a pre-trial deposition, he denied knowing who had written, "DJT to get final review" on that 2014 draft.

Persons: Jeffrey McConney, McConney, —, Donald Trump, Trump, Letitia James, Donald Trump's, Seth Wenig, Andrew Amer, Amer, Eric Trump, Allen Weisselberg, James, Weisselberg, — McConney, Mazars, Arthur Engoron, McConney's, Jesus Suarez, he'd, Mark Hawthorn Organizations: Trump, Service, Trump Organization, Trump Org's, NY, New York, White House, Trump Org, AP, Mazars, General's, Trump Hotels Locations: New York, York, Mazars USA, Weisselberg

☆ Trump's own fraud-trial expert testifies about 'glaring' problems in his financial statements — but blames the accountants
▼ + stars: | 2023-11-15 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

An ex-SEC accountant offered blunt testimony on Trump's net-worth statements. He noted "questionable" and "glaring" issues with the statements, despite being Trump's own witness. The not-so-ready cash was just one of nearly a dozen net-worth red flags identified Wednesday by Flemmons. And it certainly happened a lot in Trump's net-worth statements, by Flemmons' own description. "Blame the accountants" has been one of Trump's go-to defenses in his New York fraud travails, going back to the criminal payroll tax-fraud case his company lost a year ago.

Persons: —, Donald Trump's, It's, Jason Flemmons, Flemmons, Trump, Arthur Engoron, Letitia James, Jesus Suarez, James, Donald Bender, Bender, Trump's, Kevin Wallace Organizations: SEC, Service, Trump Organization, Flemmons, Securities and Exchange Commission, New York, Trump, USA Locations: NY, New York, Manhattan

In preparing financial statements, also known as compilations, accountants need only documentation used to determine the value of assets, like Trump’s skyscrapers, golf courses and other properties. The firm cut ties with Trump last year and said his financial statements “should no longer be relied upon” after James raised concerns about their accuracy. James, a Democrat, alleges Trump, his company and top executives exaggerated his wealth by billions of dollars on the financial statements by inflating property values. On the stand Tuesday, Flemmons echoed Trump’s longstanding assertion that disclaimers on the financial statements insulated him from liability for discrepancies or misstatements. Trump has argued that, if anything, his financial statements undervalued how much his properties were worth.

Persons: — Donald Trump, Letitia James ’, Jason Flemmons, Donald Bender, Bender, he'd, —, “, Flemmons, James, Trump, Judge Arthur Engoron, “ It’s, ” Flemmons, Steven Witkoff, Trump’s, ” Engoron, Donald Trump Jr, Allen Weisselberg, ” Trump, Eric, Donald Trump, ”, Michael Organizations: USA, York, Trump Organization, U.S . Securities, Exchange Commission, Trump, Ankura Consulting, Mazars, Republican Locations: New York, Lago, Florida, Trump’s Doral , Florida, Michael Sisak, x.com

Ms. James has asked that Mr. Trump pay $250 million and that he and his sons be permanently barred from running a business in New York. Mr. Trump has denied all wrongdoing. Mr. Trump minimized the importance of the statements and said the banks paid little attention to them. During the first week of the trial, Justice Engoron ordered Mr. Trump not to comment on members of his staff, and put similar restrictions on his lawyers. On Wednesday, Mr. Trump’s daughter Ivanka will be the fourth and final Trump family member to testify.

Persons: Donald J, Trump, Letitia James, Donald Jr, Eric, Arthur F, Engoron, James, Trump’s, Jeff McConney, Allen H, Justice Engoron, Kevin Wallace, “, ”, Christopher M, ” James, James “, don’t, Allison Greenfield, Greenfield, Kise, Mr, Ivanka Organizations: White, New, Trump Organization, Mazars USA, Mr, Democrat Locations: New York

☆ Judge erupts at Trump's lawyers for wasting time with 'ridiculous' repetitive questions aimed at Trump Organization's ex-accountant
▼ + stars: | 2023-10-04 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

The judge in Donald Trump's New York fraud case is not happy with the former president's lawyers. AdvertisementAdvertisementDonald Trump's lawyers sparred with the judge overseeing the ex-president's civil fraud trial in downtown Manhattan Wednesday, arguing for their right to ask repetitive questions. Suarez asked. Engoron asked. Engoron asked Bender whether his answer "would be the same for each year."

Persons: Donald Trump's, Justice Arthur Engoron, —, Arthur Engoron, who's, Jesus M, Suarez, Donald Bender, Bender, Bender —, Trump, Engoron, I'm, Alina Habba, Chris Kise, Eric Trump, Letitia James, Donald Trump, Seth Wenig, Trump's, Kise, Kevin C, Wallace Organizations: Service, New, Trump, The New, Mazars, Trump Organization, Trump Organization —, Supreme, AP Locations: York, Manhattan, The New York, Mazars USA

☆ NY attorney general presses case against Trump in trial's second day
▼ + stars: | 2023-10-03 | by ( Jack Queen | ) www.reuters.com time to read: +4 min

Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. REUTERS/Shannon Stapleton/PoolThe trial, now in its second day, could lead to the dismantling of Trump’s business empire as he seeks to regain the presidency in 2024. Before testimony resumed, Trump renewed his attacks on James, telling reporters outside the courtroom that she was “grossly incompetent” and had concocted a bogus case. “Her numbers are fraudulent,” said Trump, the frontrunner for the Republican nomination to face Democratic President Joe Biden in the 2024 election. The trial’s second day began with the government’s first witness Donald Bender, Trump’s former accountant at Mazars USA, resuming his testimony.

Persons: Donald Trump, Letitia James, Shannon Stapleton, Trump, James, ”, Joe Biden, “, ” James, Donald Bender, Kevin Wallace, Bender, Donald Jr, Eric, Arthur Engoron, Wallace, Christopher Kise, Michael Cohen, James ’ Organizations: YORK, New York, Former U.S, Trump Organization, REUTERS, Republican, Democratic, USA, Trump Locations: New, Former, Manhattan, New York City, U.S, New York, “

Christopher Kise, a lawyer for Trump, countered in his opening statement that Trump's financials were entirely legal. SIX CLAIMSFormer U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, October 2, 2023. Last week, the judge found Trump, his adult sons and 10 of his companies liable for fraud, describing in scathing terms how the defendants made up valuations. In his testimony, Bender said he relied on information provided by Trump and his companies when compiling Trump's personal financial statements. "The original numbers come from the Trump Organization, and any changes that would have been made at the end would have been approved by the Trump Organization," Bender said.

Persons: Trump, Donald Trump, Letitia James, Donald Jr, Eric, Donald Bender, James, Arthur Engoron, MONA LISA, Kevin Wallace, Christopher Kise, Kise, Alina Habba, Engoron, Mona Lisa, Brendan McDermid, Lago, Wallace, Michael Cohen, Bender, Habba, Cohen, Luc Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Nick Zieminski, Grant McCool Organizations: New, Trump, Trump Organization, Mazars USA, Republican, New York Democrats, SIX, U.S, REUTERS, Thomson Locations: New York, Manhattan, New, Lago, Florida, American, New York City, Washington, Georgia

Trump's election campaign used the start of the trial for fundraising, saying he was defending his family and reputation from New York Democrats it called "corrupt tyrants." Christopher Kise, a lawyer for Trump, countered in his opening statement that Trump's financials were entirely legal. Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, October 2, 2023. Last week, the judge found Trump, his adult sons and 10 of his companies liable for fraud, describing in scathing terms how the defendants made up valuations. The trial will review six additional claims including falsifying business records, insurance fraud and conspiracy, and address how much in penalties the defendants should pay.

Persons: Trump, Donald Trump, Letitia James, Donald Jr, Eric, Donald Bender, James, Arthur Engoron, MONA LISA, Kevin Wallace, Christopher Kise, Kise, Alina Habba, Engoron, Mona Lisa, Brendan McDermid, Lago, Wallace, Michael Cohen, Bender, Cohen, Luc Cohen, Jack Queen, Doina Chiacu, Noeleen Walder, Nick Zieminski, Grant McCool Organizations: New, Trump, Trump Organization, Mazars USA, Republican, New York Democrats, Former U.S, REUTERS, SIX, Thomson Locations: New York, Manhattan, New, Lago, Florida, American, New York City, Washington, Georgia

In front of the cameras and on his social media site, Trump attacked New York Attorney General Letitia James for bringing the case against him. Last week, Engoron ruled that Trump and his co-defendants were liable for “persistent and repeated” fraud. Trump attorney Christopher Kise argued there was no intent to defraud and “no victims” in the case. “That is not fraud, that is real estate.”Judge spars with Trump attorneysAfter Habba finished her opening statement – which attacked James for campaigning that she would “get Trump” – Engoron pushed back against the Trump attorney. The firm resigned and said Trump’s financial statements should no longer be relied upon.

Persons: Donald Trump, Arthur Engoron, Trump, general’s, Letitia James, Jack, ” Trump, “ They’re, ”, Kevin Wallace, Wallace, ” Wallace, James, Engoron, Christopher Kise, “, Alina Habba, Habba, Mona Lisa, James ’, ” Engoron, ” Habba, Kise, haven’t, ” Kise, Eric Trump, Donald Trump Jr, Donald Bender, Bender Organizations: New, New York CNN, Trump, AG, Forbes, Trump Organization, White House, Deutsche Bank, Palm Locations: New York, Manhattan, ”, Palm Beach, Habba

☆ Trump and his 3 eldest children will testify at his business-fraud trial. Here's the whole list.
▼ + stars: | 2023-09-28 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Now, she must testify against her father and brothers Donald Trump, Jr., and Eric Trump, who remain as plaintiffs. AdvertisementAdvertisementThere are 25 witnesses in all on James' list, including Trump corporate employees, lenders, insurers, and appraisers, all compelled by subpoena to testify. The list indicates that on their direct defense case, Trump's side, too, intends to call Donald Trump and Eric Trump, who continues to manage the Trump Organization. They do not list Ivanka Trump and Donald Trump, Jr., as witnesses. The trial will determine whether the other defendants, including Eric Trump and Donald Trump, Jr., a Trump Org executive vice president and trustee, are also liable for fraud.

Persons: Trump, Letitia James, —, Donald Trump, Ivanka Trump, she's, Donald Trump , Jr, Eric Trump, Donald Bender, Trump's, Bender, James, Mazars, Jeffrey McConney, Allen Weisselberg, Michael Cohen, Arthur Engoron, Donald Trump's, Engoron Organizations: Service, Trump Organization, Deutsche Bank, Trump Org's, Post, Mazars USA, Trump, New, Trump Org Locations: NYC, Manhattan, Washington, York, New York

☆ In battle with Attorney General Letitia James, Trump may force his nemesis Michael Cohen to testify in his defense
▼ + stars: | 2023-03-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

A new round of subpoenas has been served by both sides in New York's massive Trump fraud lawsuit. Attorney General Letitia James said in court papers she may try to redepose Donald and Eric Trump. It's over this and another approaching deadline that the two sides in James' lawsuit are now battling. Excerpt from court filing in New York attorney general's lawsuit against Donald Trump and the Trump Organization. Michael Cohen's subpoena from the Trump defendants in New York Attorney General Letitia James' fraud lawsuit.

The sentence, handed down by a judge in State Supreme Court in Manhattan, caps a lengthy legal ordeal for Mr. Trump’s company, the Trump Organization, which was convicted in December of doling out off-the-books perks to some of its top executives. One of the executives who orchestrated the scheme, Allen H. Weisselberg, pleaded guilty and testified at the company’s trial. But the verdict branded the company a lawbreaker, exposed a culture that nurtured illegality for years and handed political ammunition to Mr. Trump’s opponents. They also blamed Mr. Weisselberg, who they say carried out the scheme without intending to benefit the Trump Organization. But Joshua Steinglass, a prosecutor in the Manhattan district attorney’s office, argued that the company carried out “a multidimensional scheme to defraud the tax authorities.”

Its longtime chief financial officer, Allen Weisselberg, pleaded guilty and testified for the prosecution. The Trump Organization has pleaded not guilty. Its lawyers have argued that an outside accountant from Mazars USA who prepared tax returns for the company, Donald Bender, should have caught Weisselberg's fraud and blown the whistle. Bender "turned a blind eye to Allen Weisselberg's wrongdoing," defense lawyer Susan Necheles said in her closing argument on Thursday. Mazars cut ties with the Trump Organization earlier this year.

☆ Trump company tax fraud trial nears end in battle over who to blame
▼ + stars: | 2022-12-01 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Joshua Steinglass, a prosecutor with the Manhattan district attorney's office, said Weisselberg was a product of the "culture of fraud and deception" at Trump's company, and not its only tax fraud beneficiary. Weisselberg is expected to serve five months in jail after pleading guilty to tax fraud and other charges. He told jurors his greed motivated him to cheat on taxes, and described the company's modest payroll tax savings as a "byproduct." Necheles told jurors: "The issue here is not whether as a byproduct the company saved some money. Steinglass urged jurors to dismiss the defense's "far-fetched argument" that Trump's company relied on Mazars to catch wrongdoing.

☆ Binance hires the accounting firm that disavowed Donald Trump's financials to verify its crypto reserves
▼ + stars: | 2022-11-30 | by ( Brian Evans | ) www.businessinsider.com time to read: +3 min

Binance is enlisting accounting firm Mazars to verify its cryptocurrency reserves. Mazars' US unit previously worked for former President Donald Trump and his company. Earlier this year, Mazars USA said it no longer stands by 10 years of financial statements for Trump. Mazars will verify Binance's crypto reserves, the report said, as part of the exchange's larger proof-of-reserves system to foster more transparency. Still, Binance has touted its efforts on transparency and released on November 25 its first snapshot of its reserves, which showed holdings of mostly bitcoin.

☆ Explainer: Trump's Supreme Court loss the latest failure to keep tax returns secret
▼ + stars: | 2022-11-23 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

Prosecutors have accused the Trump Organization of paying executives through off-the-books perks including bonuses as if they were freelancers. WHY DOES CONGRESS WANT TRUMP'S TAX RETURNS? DO OTHER OFFICIALS HAVE TRUMP'S TAX RETURNS? The Manhattan district attorney in February 2021 said it obtained eight years of Trump's tax returns in the investigation that led to the Trump Organization's tax fraud trial. The Supreme Court's decision on Tuesday to allow the panel to obtain the tax returns came a week after Trump announced his latest presidential run.

☆ Trump D.C. hotel receipts reveal $10,500-a-night rooms for foreign officials seeking to influence U.S.
▼ + stars: | 2022-11-14 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Anna_Byline.Jpg | Anna Schecter | ) www.nbcnews.com time to read: +8 min

For their part Qatari officials and connected companies spent at least $307,941 at the Trump hotel from late 2017 through mid-2018, according to the Oversight Committee’s findings. In the letter she requests presidential records from NARA that could be related to attempts by foreign governments and lobbyists working on their behalf to influence the Trump administration by spending money at the Trump Hotel. A spokesperson for the Malaysian Embassy did not immediately respond to a request for comment. According to the Oversight Committee, documents from Mazars show the Turkish Embassy sponsored two stays at the Trump hotel around the time of Erdoğan’s visit. The documentation obtained did not show how much the embassy spent at the hotel during either of these stays.

☆ Trump D.C. hotel receipts reveal $10,500-a-night rooms for foreign officials seeking to influence U.S. policy
▼ + stars: | 2022-11-14 | by ( Anna Schecter | ) www.cnbc.com time to read: +8 min

The Saudi revenues for the Trump hotel came during a period when Saudi Arabia and the UAE were lobbying the Trump administration to support them during their blockade against economic rival Qatar. In the letter she requests presidential records from NARA that could be related to attempts by foreign governments and lobbyists working on their behalf to influence the Trump administration by spending money at the Trump Hotel. The Malaysian expenditures at the Trump Hotel were the most extensive in a one-week period found by the Oversight Committee to date. A spokesperson for the Malaysian Embassy did not immediately respond to a request for comment. The documentation obtained did not show how much the embassy spent at the hotel during either of these stays.

☆ Saudi defense officials rented suites at Trump's DC hotel that cost $10,500 right before MBS visited White House
▼ + stars: | 2022-11-14 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +5 min

Officials from six countries spent over $750k at Trump's DC hotel in 2017 and 2018, documents show. The officials stayed at Trump's hotel amid rocky periods in relations between their countries and the US. Saudi officials spent nearly $86k in March 2018. The Saudi officials spent nearly $86,000 from March 7 to March 18, including renting several $10,500 suites. Prince Mohammed, the de facto ruler of Saudi Arabia, was explicitly implicated in Khashoggi's killing by the US government.

☆ DOJ asks Supreme Court to deny Trump's request to block House Democrats from getting his tax records
▼ + stars: | 2022-11-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The Department of Justice and the House Ways and Means Committee asked the Supreme Court on Thursday to reject former President Donald Trump's request to block the panel from accessing his tax records. Earlier this month, Chief Justice John Roberts Chief temporarily blocked the Ways and Means panel from accessing Trump's tax records. Roberts said the case would remain on hold until the court acts and asked the committee to file a response to Trump’s request by Thursday. After the DOJ's filing, the committee also filed a similar 52-page argument Thursday against Trump's request. “The committee’s purpose in requesting President Trump’s tax returns has nothing to do with funding or staffing issues at the IRS and everything to do with releasing the president’s tax information to the public,” the lawyers wrote in a recent court filing.

☆ Donald Trump says a simple disclaimer gives him immunity from fraud. Could he have a point?
▼ + stars: | 2022-10-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

The statements were unsealed last week as part of NY AG Letitia James' fraud lawsuit against Trump. Trump told Sean Hannity the disclaimers absolve him of responsibility and the AG has "no case." "We have a disclaimer," Trump told the Fox News host. But Trump told Hannity none of that would matter because each Statement of Financial Condition begins with a warning. The opening paragraphs of the disclaimer for Donald Trump's 2012 Statement of Financial Condition (highlights added).

New York Attorney General Letitia James' office sued Trump, his children, and his business. "Trump falsely inflated his net worth by billions of dollars to further enrich himself and cheat the system," James' office said. James on Wednesday accused the Trump Organization of issuing financial statements that were in "clear violation" of accepted accounting principles. Many of the lawsuit's fraud allegations center on 10 years of Trump's statements of financial condition. Mazars walked away from the statements after James' office found that they repeatedly "misstated objective facts."

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