Trump Looks Cooked As Manhattan DA Subpoenas Loan Documents To Compare To His Tax Returns

[babylonsister]

https://www.politicususa.com/2021/03/08/trump-business-loans-tax-returns.html


Posted on Mon, Mar 8th, 2021 by Jason Easley
Trump Looks Cooked As Manhattan DA Subpoenas Loan Documents To Compare To His Tax Returns


The Manhattan DA has subpoenaed loan documents from a Trump Chicago project to compare them to his tax returns.

CNN reported:

By 2012, Fortress subsequently forgave more $100 million of the loan, which, including interest and fees, was worth about $150 million, according to court filings. The forgiveness was done to secure a partial re-payment of about $45 million at a time when the real estate market was suffering from the financial crisis.

Prosecutors with Manhattan District Attorney Cy Vance’s office are looking into whether Trump and the Trump Organization recorded the loan forgiveness as income, as required by the Internal Revenue Service, and paid the appropriate taxes, the people say.

There are several things that we know based on public reporting and Trump’s own comments. Donald Trump thought that he was smart to avoid paying taxes. Donald Trump went out of his way to avoid paying taxes. Trump has a decades-long documented history of changing the valuation of his assets to avoid taxes and get loans.

Manhattan DA Cyrus Vance has already added a former federal prosecutor who specializes in white-collar and organized crime to his investigation. The DA is treating the Trump Organization like an organized crime ring, and he is now gathering evidence of potential Trump criminal activity.

The District Attorney is digging deep into how Trump ran his business, which makes it more likely that Donald Trump is closer to a criminal indictment than a political comeback.

[Iliyah]

1. I'm really ready to say . . .

"put a fork in it, he's done"

[Laelth]

13. Not even close.

With this demand for document production, Vance just granted Trump another year (or more) of appeals before the SCOTUS rules whether or not Vance is entitled to this evidence. Vance is saying, “I can’t proceed without this evidence.” He is continuing to slow-play the prosecution. He’s actually protecting Trump.

I am not impressed.

-Laelth

[Happy Hoosier]

22. OTOH....

If he doesn't HAVE the evidence he cannot charge, much less get a conviction. I'd hope that Trump's losses in the courts so far might limit his appeals success.

[CaptainTruth]

36. If you want to compare loan docs to tax returns...

...to look for evidence of a crime (forgiven loan not reported as income) how do you do that without the loan docs?

[Miguelito Loveless]

2. I don't care to speculate how many times I have been told by various

journalists, pundits, pols, and posters, that Trump was finished.

Call me when he is arrested. Until then, this is just noise.

[smirkymonkey]

9. I pretty much feel the same way.

I'd put more money on him dropping dead than ever spending any time behind bars.

[Laelth]

14. That's probably a good bet.

Trump may be down to his last $100 million, but $100 million can keep you out of prison for a long time.

-Laelth

[AZ8theist]

30. The Russian mob isn't going to care about his tax problems....

Just the money he owes them.

"Try zoop, eest goot, no?"

[ScratchCat]

39. I know this is a common belief and comment

About Trump's loans.... but the "Russian Mob" isn't going to do one damn thing to Donald or any other Trump on U.S. soil. And I hope they don't. You know why? He automatically becomes the victim and Russia attacking a US citizen on US soil becomes bigger than anything Trump did 2016-2020, and he gets off scott-free.

[AZ8theist]

44. You underestimate Putins' ability to off people without any incriminating evidence.

[BComplex]

3. Which is why the media is going after Gov. Cuomo. If they can get a republican elected governor

they can pardon their mafia don trump.

They're going to try to tie democrats & Cuomo to messing with covid patients and women, and do all they can to cheat in an election to get don trump off the hook with a state pardon.

[In_The_Wind]

6. We need to stop that from happening.

[BComplex]

10. We definitely need to stop republicans from electing a republican governor.

I'm afraid Cuomo has already done himself harm that the republicans will only take advantage of.

[lagomorph777]

7. +1 The multi-pronged attack on Cuomo is no coincidence.

Roger Stone's greasy fingerprints are all over this.

[babylonsister]

17. Gov. Cuomo made his own bed w/o help from anyone. nt

[BradAllison]

21. What Republican can get elected statewide in NY?

I'm curious as to who you think is the poison pill to get this done.

[colsohlibgal]

4. Let It Be So

LOCK HIM UP!

[triron]

5. knr

[Walleye]

8. Michael Cohen has pretty much been right on everything so far. He's cooperating

[Blue Owl]

11. He reeks of overcooked steak and ketchup farts

[Laelth]

12. Vance is slow-playing this prosecution.

This demand for document production just sets up another year (or more) of rulings that will be appealed all the way to the Supreme Court before Vance has the evidence that he allegedly needs to “proceed” with the actual case.

I am disappointed.

-Laelth

[Phoenix61]

15. So go to court without proof? nt

[Laelth]

16. He's had years and years to get this "proof."

Why is he only asking for it now?

If he’s not ready to go to Court after having three years to prepare his case, there are only two options, and neither of them is satisfying. Either he sux, or he’s slow-playing the case. I suspect the latter.

-Laelth

[babylonsister]

18. He didn't have the tax returns

until recently, at least not legally. That could explain any delay.

[Phoenix61]

19. Trump used being president to stall getting documents.

Much easier to move forward now that he’s a civilian.

[ScratchCat]

20. A Few things:

Trump has already exhausted his court challenges on this. These documents don't come from Trump. They come from other entities (banks) for which Trump has little ability to fight. They will hand them over even if Trump fights it.

Second, its clear Vance is putting everything in a row to show a history of tax fraud. These types of financial-tax crimes can end up just being civil penalties and fines.... unless a prosecutor can show a history of evasion and fraud. That gives the investigated party - Trump - little wiggle room to claim "Oops, must have been an oversight. I'll pay now". A pattern of tax fraud and tax evasion is much easier to criminally prosecute than just random instances or "not reporting the right thing".

[Justice matters.]

46. The SC already stated that "nobody is above the law"

and that was even when he still was IMPOTUS. And they followed the Constitution.

So, unless he's got himself a pocket pardon, and even then, State charges of tax fraud can only be proven with simple access to commercial documents. They're not going to rule that access out (nobody is above the law).

[live love laugh]

23. He's going to try to drag this out for years. nt

[eallen]

24. Don't count your indictments until they are announced

[Kid Berwyn]

25. Paid $750 for at least a couple years.

Doesn’t that stand for sumpin’?

[Ford_Prefect]

26. One important question is will Florida allow extradition?

Or will they claim superseding jurisdiction?

Could DeSantis, being a law unto himself, hold Donald as a material witness with home confinement?

[Justice matters.]

47. Doesn't matter. Can't run for Prez with pending public indictments in States DAs offices.

Right?

Would be surprising but if he can, try to win as an indicted loser with a shrinking base.

[JohnnyRingo]

27. That last sentence brings me great solace.

"...that Donald Trump is closer to a criminal indictment than a political comeback."

[neohippie]

28. I have no faith in Vance

This IS the same Vance, the DA that had Trump's kids tied to a fraud case and let them off the hook in 2017


https://www.rollingstone.com/politics/politics-features/da-who-dropped-fraud-case-against-trump-kids-did-opposite-with-immigrant-family-127500/


https://www.newyorker.com/news/news-desk/why-didnt-manhattan-da-cyrus-vance-prosecute-the-trumps-or-harvey-weinstein

[nevergiveup]

35. Bingo!

In terms of the Trumps, Cy Vance has thus far been all hat and no cattle. I have not given up but this is certainly something that I find very unsettling.

[George II]

40. There were legal reasons why he couldn't prosecute back then. Things are totally different now.

[neohippie]

42. Care to explain this further

Would you be so kind as to explain this further for those of us who aren't aware, because I also re-call a Trump donation to Vance's election campaign that was brought to light and then Vance claimed he returned it, but then there was more money from Trump...

I never read about "legal reasons" behind Vance's decisions not to pursue this case

[ScratchCat]

43. The poster who made the comment may have more to say

But for starters, Trump would have ordered DOJ to fight anything even on a State level all the way to SCOTUS, appeals, etc...

That is not possible now. There was little reason to go down that path while Trump essentially controlled DOJ.

Further, 99.99% of legal scholars say a "pre-emptive pardon" would be struck down 9-0 by SCOTUS. There was no reason to allow Trump the chance to pardon family and others legitimately by filing charges while he had pardon power. The whole "secret pardon" nonsense goes the same way. The Trump family is now fully exposed now that Don is a private citizen. They may have "high fived" each other with their fake pardons, but they wont be laughing when they are indicted and tried.

Again, the poster may be thinking of other things, but that is one.

[BobTheSubgenius]

29. C'mon, INDICTMENT!

Daddy needs some new schadenfreude!

[SergeStorms]

31. What sort of bank....

forgives $150 million of a loan so they can collect a partial payment of about $45 million?

These banks will go under again and want the taxpayers to bail them out....... AGAIN!

[SarcasticSatyr]

32. Most likely a bank that realizes it's 45 million .. or nothing.

Scamming banks is the Trump way ...

[SergeStorms]

33. They can write the loss off, but...

why the hell would anyone loan that POS a nickel after his financial ruination? Is this the guy

[gab13by13]

38. A lot of his bankruptcies had to be for laundering money,

I know that Deutche Bank loaned him money because VTB bank, Putin's bank, guaranteed the loans. Who bankrupts casinos where people walk in and just give you their money?

[smb]

51. There's An Old Saying

If you owe the bank a hundred thousand dollars and can't pay, you have a big problem.
If you owe the bank a hundred million dollars and can't pay, the bank has a big problem.

[pandr32]

34. Cooked, basted, and with side dishes hopefully

I'm thinking his children/business partners will be the side dishes.

[George II]

37. This is very serious. Hopefully all this will bring down the trump crime family once and for all.

[LetMyPeopleVote]

41. This particular loan smells

How did this loan get forgiven?

[WarGamer]

48. explained here:

"By 2012, Fortress subsequently forgave more $100 million of the loan, which, including interest and fees, was worth about $150 million, according to court filings. The forgiveness was done to secure a partial re-payment of about $45 million at a time when the real estate market was suffering from the financial crisis. "


It's called Commercial Loan restructuring and is common during or after financial crises.

It can be done to avert a bankruptcy claim and in this case, it gave the bank $45M in cash when it may have been struggling to collect from Commercial clients. It's not a bad deal for the bank in those circumstances.

In fact, expect to see more of it post-COVID...

[LetMyPeopleVote]

52. That is still a sweetheart deal

I have had to deal with workout types over the years. This was a very sweetheart deal that the average borrower would not get

[Cha]

45. I hope this turns out so Bad for the

Traitor that he wishes he never ran for potus.. his gig as a Russian ASSet turns out to be the worst Mistake of his life.

It sure was for America.

[Dark n Stormy Knight]

49. You know those women who are happy to marry jailed serial killers

(or guys like that asshole Shkrelli https://www.theguardian.com/us-news/2020/dec/21/journalist-fell-in-love-martin-shkreli-while-covering-arrest)? That's how I think the TrumpSuckers will react if Donnie goes to jail.

Better jail his kids too, or the cult will vote for one of them.

[disndat]

50. Too early to speculate

on Trump's legal fate. Could he escape to a non-extraditing country before he is indicted?