Trump Org. and CFO Indicted

ZirconBlue said:
$50k in travel expenses seemed excessive, until I realized that they were time-travel expenses.
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That was only the net cost, but we subsidized it by sports betting using our knowledge of the future.


Uhhh....that was supposed to be 1988 to 1990.
 
Removing Weiselberg from the Scottish properties might have been a move to prevent him from giving documents the Scottish authorities in return for immunity.
 
The Great Zaganza said:
Removing Weiselberg from the Scottish properties might have been a move to prevent him from giving documents the Scottish authorities in return for immunity.
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Thing is, weisselberg doesn't look like he will flip on trump in the NY case, and if he does flip there, the trump org will have more to worry about than scottish holdings.

Are UK laws more strict? Is it easier to get a conviction there?



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Related to the removal of Weisselberg from one of Trump's golf courses in Scotland...

From: CNBC
Allen Weisselberg, the longtime chief financial officer of the Trump Organization, has been removed as officer of several subsidiaries of that company owned by former President Donald Trump...Despite his removal from those slots, the 73-year-old CFO is expected to remain at the Trump Organization...

Hard to know what to make of it.... he's still with the Trump organization in some capacity, so it doesn't look like he's turned on Trump. Could be an attempt by the Trump Klan to set up Weisselberg as the scape goat.
 
More like he literally can't do his job right now. No reputable bank is going to talk credit and loans with a guy while he's under indictment for financial malfeasance.
 
carlitos said:
More like he literally can't do his job right now. No reputable bank is going to talk credit and loans with a guy while he's under indictment for financial malfeasance.
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That's certainly possible. (I can see why a bank would want to avoid dealing with people who might soon be in prison.)

But if that is the plan of the Trump organization, they will have a few problems:

- Weisselberg has been removed from some positions, but it currently looks like he's still involved with the Trump organization. Would a bank still want to talk loans and credit if they have a criminal skulking around behind the scenes? "Its ok, we no longer have a criminal involved in running a Trump golf course. He is now restricted to controlling the overall company finances." (We will have to see if there is a more complete breaking of ties.)

- The Trump organization as a whole is under indictment. If a bank wants to avoid criminality, simply getting rid of one executive at the top might not convince the banks that you are now a 'good' risk. (Heck, some banks were talking about no longer dealing with Trump even before the indictments, since being associated with a racist who supported the terrorist overthrow of the U.S. isn't necessarily good for business.)

- Weisselberg has been a key figure in the Trump organization for a long, long time. If you get rid of him, who do you replace him with? Trump Jr? Eric? I don't think either one of them would really instill a lot of confidence in potential creditors. Weisselberg is a criminal, but he is a competent criminal.
 
Probably all true. There may also be actual legal or regulatory reasons to remove him as an officer for some of the other organizations that operate in other countries and jurisdictions.
 
Came across a news report from MSNBC that gives some new information:

Since not everyone has access to video, let me summarize:

- It looks like Weisselberg resigned from his position with the various Trump subsidiary companies (rather than being terminated). Furthermore, it looks like those resignations started BEFORE he was indicted

- Not only has Weisselberg resigned from the various subsidiary companies, he has also resigned his officer position from the Trust (i.e. the thing controlling the finances for the whole Trump organization). (He still retains the title of CFO though.)

- He now has his own lawyers (as opposed to using Trump organization lawyers). In theory, it could mean more flexibility should he decide to flip on Trump (No indication of that happening though)

- One of the commentators in the video (a former prosecutor) suggests this could potentially open up Weisselberg and the Trump organization to new charges. He suggested that if they find out that Weisselberg's resignation is in name only (and he is still working behind the scenes, giving advice/direction to the company), then it could be prosecuted as a form of fraud. (He suggested this is a strong possibility, since they are replacing Weisselberg, an man with a certain amount of financial expertise, with various members of the Trump Klan, who likely don't have the background of dealing with the nitty gritty of a company's finances.)

 
From: Yahoo
A cooperating witness in the Manhattan District Attorney investigation into the Trump Organization told prosecutors that former President Donald Trump personally offered to pay for perks in place of a taxable income...The revelation could bolster any charges prosecutors would bring against Trump himself...

Shouldn't necessarily come as too much of a surprise, given the fact that Trump has kept the circle of people who run the company very small. Still, it is confirmation that prosecutors have evidence Trump was actually involved in some of the decision making (rather than just signing checks.)
 
Cooperating witness is most likely Jennifer Weisselberg ... In the Daily Beast today - Trump regarding tuition payments - "I got it covered."

Beast is paywalled - here's a bit from raw story:

Jennifer Weisselberg, the former daughter in law to indicted Trump Organization chief financial officer Allen Weisselberg, told investigators last month in New York that Trump personally guaranteed he would pay school tuition for her two children instead of increasing a salary that could be taxed, reported The Daily Beast.

"Weisselberg [on June 25] provided key details for investigators," the website reported. "In January 2012, inside Trump's office at Trump Tower on Fifth Avenue, Jennifer Weisselberg watched as Trump discussed compensation with her husband and her father-in-law, both company employees. Her husband wouldn't be getting a raise, but their children would get their tuition paid for at a top-rated private academy instead."

"Weisselberg allegedly relayed to prosecutors that Trump turned to her and said: 'Don't worry, I've got it covered,'" the report added. "Prosecutors were astonished, according to one source."
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"Weisselberg allegedly relayed to prosecutors that Trump turned to her and said: 'Don't worry, I've got it covered,'" the report added. "Prosecutors were astonished, according to one source."
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I'm astonished too. Trump paying for something? It seems unlikely to say the least.
 
Weisselberg admits to scamming taxpayers, but says it was justified because his commute was too long...

From: Business Insider
...Allen Weisselberg, who is accused of accepting luxury cars as part of a tax-avoidance scheme, complained about his long commute while in custody...According to prosecutors cited in the documents, Weisselberg apparently offered a defense of the arrangement....Weisselberg is said to have made the comment before pleading not guilty...

Not really sure what he is angling for here.... you would think the smarter action would just stay silent. But complaining about his commute sounds like a case of "I broke the law but it was OK", which 1) doesn't help him in the legal sense (since the prosecution could use it as motive for the crime, as well as seeing it as an admission of guilt), and 2) doesn't help him in the court of public opinion, since I doubt most New Yorkers would have much sympathy having their own problems of long commutes.
 
And in what should have been obvious...

From: Business Insider
New York prosecutors investigating Donald Trump's sprawling business empire have evidence that Barry Weisselberg, a Trump Organization employee, avoided taxes by living rent-free in a luxury apartment Trump owned....The report said Jennifer Weisselberg, a cooperating witness, handed over a decade's worth of tax returns and financial documents showing that her ex-husband did not report all his income and that he received corporate perks that should have been declared as taxable income....it raises the prospect that Allen Weisselberg could be pressured into flipping against Trump with the threat of an indictment against his son.

I thought all this sort of came out before (And Jennifer Weisselberg has been cooperating for months now), but it seems to be treated as new. Maybe it is some sort of strategic information release on the part of the prosecutors? (i.e. a sort of friendly reminder by prosecutors to encourage Allen to flip?)
 
Segnosaur said:
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I thought all this sort of came out before (And Jennifer Weisselberg has been cooperating for months now), but it seems to be treated as new. Maybe it is some sort of strategic information release on the part of the prosecutors? (i.e. a sort of friendly reminder by prosecutors to encourage Allen to flip?)
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Previous reports were about the father. It appears that this is new stuff about the son.
New York prosecutors investigating Donald Trump's sprawling business empire have evidence that Barry Weisselberg, a Trump Organization employee, avoided taxes by living rent-free in a luxury apartment Trump owned, The Daily Beast reported on Sunday.

Weisselberg, the manager of Trump's Wollman ice rink in Central Park, is the son of Allen Weisselberg, the Trump Organization's chief financial officer, who in July was charged alongside the company with tax-related crimes including scheme to defraud and grand larceny.

Now prosecutors have evidence — delivered by Barry Weisselberg's ex-wife, Jennifer — that he avoided paying taxes using similar methods, The Daily Beast reported.
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