Home » Trump’s Efforts to Hide Cash From NY AG Shot Down in Court

Trump’s Efforts to Hide Cash From NY AG Shot Down in Court

by admin

Photo by Brandon Bell/Getty Images

Donald Trump’s desperate attempt to escape the wrath of the New York Attorney General came Thursday when a state judge took the surprising step of bringing the former president’s firm under court oversight, prompting the billionaire to make millions. Stopped for preventing him from quietly transferring his money to avoid paying a dollar. fine.

Judge Arthur F. Engoron intervened AG’s requestorders the appointment of independent oversight to ensure that the company cannot covertly move assets beyond the reach of law enforcement or continue to issue fraudulent financial statements.

“There will be monitors,” he said Thursday at noon in a Manhattan courtroom.

Leaders of the Trump Organization (the real estate firm that propelled Trump to international fame) and his family have been accused of being involved in a blatant and long-running bank and tax fraud scheme. Court documents show that Trump and the adult family members he made officers there — Don Jr., Ivanka, and Eric — are trying to get better bank loans and claim bigger tax cuts by increasing the size of their estates. and how the value was constantly inflated.they are now facing $250 million lawsuit From New York AG Letitia James trying to cripple the company.

she wants Put Trump on trial in 2023as Trump is expected to pursue his political ambitions upon his return to the White House.

Mr. Trump has already taken actions that indicate that the AG may be doing exactly what he fears.

In recent weeks, he has opened a new company in the paper company capital of Delaware. This is comically called “Trump Organization II”. And on Wednesday, he filed a state lawsuit against AG’s offices in Palm Beach County, Fla., in an attempt to block him from accessing funds held in a corporation known as a “trust.” The lawsuit seeks a judicial order “declaring that James has no jurisdiction over the assets of the revocable trust in Florida.”

In court Thursday, Assistant Attorney General Kevin Wallace cites “ongoing misconduct at the Trump Organization” and stressed the importance of having Judge Engolon crack down on the company. He said AG’s office must have “general visibility” into the company to avoid becoming an empty shell by the time the trial is over, potentially paying millions in fines. claimed.

“It is not appropriate to bring this matter to court … and now we are looking for the first time what the restructured company will look like,” he said.

Meanwhile, Christopher M. Kise, a Florida attorney representing the Trump Organization, called the entire lawsuit “a hoaxed complaint” given that AG was pursuing claims against the company. Deutsche Bank and Mothers USA, major lenders and accounting firms.

“There is no public interest here,” Kise said. “The Attorney General represents Deutsche Bank, Mothers…these big companies…have some of the best lawyers in the country…they never complained.”

Kise tried to view the evaluation issue as a mere disagreement. This is the kind of dispute that happens every day in business. But Engoron had none of that, focusing solely on one of Trump’s baldest lies.

In his first series of questions, Engoron began by asking if Kise knew the size of the Trump Tower Triplex in Manhattan. Kise said no. The judge next consulted a lawyer in his AG’s office, who explained that the plans for the building were for him to be 11,000 square feet, but Trump was actually three times his size, I filed documents claiming it was about 30,000 square feet.

“Is it a well-intentioned disagreement?” asked Engoron.

“That may be true,” Kise retorted.

Engolon then emphasized how the Trump Organization profited greatly from its lies, and according to Allen Weisselberg, the company’s chief financial officer at the time, the 20,000-square-foot addition of non-existent space was a real estate investment. I had the AG office explain how I blew up the listing value.

“That led to the $200 million fluctuation that Weisselberg described,” Wallace said.

Engoron said the discrepancy was “sufficient in itself to justify the appointment of the monitor.”

So far, the lawsuit is one of six legal actions threatening the politically powerful Trump family.Trump himself could face federal criminal charges keep confidential information At his Florida seaside estate in Mar-a-Lago, state criminal charges for trying Blackmailing Georgia Election Officials To reverse his election loss in 2020. Meanwhile, the company is currently Defended in Manhattan criminal trial Accused of tax evasion by showering executives with taxes Luxurious benefits for corporations from the book.

But the AG lawsuit has hit the heart of Trump’s image and his wallet. James wants to kill the company by drying it up. She seeks to impose a $225 million fine and prohibit the company from operating in New York or raising funds in what has become the world’s financial capital.

In court documents, the Trump Organization denounced the lawsuit as a blatant campaign to “generate massive media coverage on the eve of the election,” calling Trump’s attempt to control his real estate empire “extremely disrespectful.” politically-motivated attempt to nationalize a successful private company.” enterprise. “

Since the lawsuit was filed, Trump has rushed to limit the potential damage by trying to get Judge Engoron to start the case. They argue that the lawsuit should be filed in the commercial division of the New York State Court, rather than Engoron, which usually presides over civil matters.

But Engoron refused to budge, saying he was ready to determine those issues given he was already familiar with the AG investigation into the Trump Organization that led to the lawsuit. For three years, the couple tried to dodge deposition interviews with investigators and refused to provide documents. It was Engolon who had to repeatedly issue court orders compelling him to comply with AG’s subpoenas.

Just yesterday, Engoron made yet another issue order He refused their request to stand aside, stating that “the judicial economy strongly prevents this case from being held in this court, and the court will continue to preside over it ‘without fear or favor. ‘ writes.

See The Daily Beast for more information.

Get the Daily Beast’s biggest scoops and scandals delivered straight to your inbox. Sign up now.

Stay informed and get unlimited access to the Daily Beast’s unparalleled reports. Subscribe now.

You may also like

Leave a Comment