Eyes on Seven Springs
Trump’s 213-Acre Seven Springs Estate in Westchester County, N.Y. has the attention of Manhattan Prosecutors.
The Manhattan district attorney’s office has issued new subpoenas and requested recordings of local government meetings related to the Trump Organization’s failed attempt to create a luxury subdivision at Seven Springs, a 213-acre property that the former president bought for $7.5 million in 1995.
Mr. Trump has valued the property at up to $291 million in financial statements that the New York attorney general’s office, which is also investigating Seven Springs, said were given to financial institutions. Inflating assets to help secure loans or other financial benefits can be a state criminal offense, legal experts said.
Manhattan District Attorney Cyrus Vance’s office has said in court filings it is investigating possible tax, insurance and bank fraud.
Mr. Trump valued the property at $291 million in 2012, according to what he called his “statement of financial condition,” a collection of financial information compiled but not audited by his accountants. Mr. Trump valued the property at between $25 million and $50 million on financial-disclosure paperwork filed when he was president.
Local tax-assessment rolls list the market value of the property at about $19 million.
The final appraisal, sent to Mr. Trump in 2016, values the property at $56.5 million and the conservation easement portion at $21.1 million. Seven Springs LLC, which is part of the Trump Organization, claimed a $21.1 million tax deduction for the easement in tax year 2015, a lawyer for the attorney general’s office has said in court.
Probes Will Pick Up Steam
Seven Springs is just one of many of Trump’s real estate transactions under review.
Trump also faces many other civil cases as well as a potential election fraud case in Georgia.
Mish
Very good!!
http://www.google.com.ar/url?q=https://nifonie.es
It is going to be tough few years for Trump until his (un)timely death.
The Men In Black have it all in hand. He’ll be going back to his own planet soon, just like Elvis, complete with reports of him having died on the krappper.
The Men In Black have it all in hand. He’s going back to his own planet soon, just like Elvis. We’ll even get reports of him having died on the krappper of a burger overdose.
Huge accounting a$$holiness…will require a bigger probe.
The investigation could cause Trump’s cash flow dwindle enough that he has to file personal bankruptcy. So how can investors with more than $500M believe justice was served? Or is part of these investigations to harm anyone who supports Trump financially?
I’d be shocked if Trump simply didn’t record the forgivenes as income. This is accounting 101
Investigators’ interest in how Trump and his company treated the Chicago loan is an expansion of an inquiry that encompasses multiple aspects of the Trump business.
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.
Possible vaccine related death of a healthy 39 y.o. woman in Utah. Major organ failure. She got the Moderna vaccine.
It probably won’t be proven one way to the other, but I’d guess this one is a real case of vaccine side effects….Unless the autopsy is positive for street drugs or something like that, it will be hard to disprove…..
Such things do happen. Not very often, fortunately.
I saw an report from Norway where about 23 elderly or frail patients died from the vaccine. It was out of about 20,000 patients. So the math shows the vaccine was still vastly safer than the disease. But still sad and worthy of paying attention too.
The problem with that data is that they don’t normally tell you what number of them would have been expected to die in that time period even in the absence of covid or the vaccine. A certain number of “elderly and frail” people die every day.
Yes. Death targets the old disproportionately. Really really disproportionately.
There are many of these stories in various countries of a whole spate of deaths in institutions which have sometimes had zero Corona deaths. In various countries they do not recommend (Pfizer) vaccines for those over 64, which is ironic, since without people >64 this whole Covid thing wouldn’t even be a thing.
Fact is, the associated deaths and adverse reactions are huge compared to other vaccines or the flu shot, and by huge, we are talking like 3000× as much, even though in most individual cases it cannot be causality cannot be proven one way or the other.
Not recommending the vaccine for over 65+ would be a strange policy indeed, considering that the Covid IFR rises with age, while the rate of side effects from the vaccine declines with age. When you are looking at an IFR of over 1% for 65+, and over 8% for 80+, a side effect of 1.8/100,000 is insignificant.
If you are going to exclude some age groups, it would make more sense to not recommend it for under 45, where the side effect rate is at least 3x higher, while the fatality rate is under 0.1%. At the very least, it might make sense to recommend that those under 45 only get one dose. I know that if I were under 45, I would decline the second dose. Since I’m over 65, and have low IgM levels, I’ll probably go ahead and get the second dose.
It is sad for sure but how a healthy 39 year-old was able to get a vaccine? Was she front line worker?
Scrub tech for some plastic surgeons, I think it said. Anybody who goes to the hospital is technically front-line.
There have been many such reports in various countries, a whole spate of the elderly dying soon after the jab, even in institutions which had no Corona deaths up till then. In some countries they have recommended not giving it to those >64. O, the irony. Without those >64 the whole Covid thing wouldn’t even be a thing.
» Not that often
The 1637 out of 92 million is 1.8/100,000, but VAERS records are by no means complete. On the other hand, causality is very difficult to prove one way or the other.
But the base risk of dying of Corona absent co-morbidities is 3/100,000 across the age spectrum, so it is not such a done deal. Especially since the long-term effects on the individual nor the long-term public health risks are not being taken into account.
“Target-rich environment” comes to mind.
Can we instead focus on Biden’s lack of mental acuity and fitness for office?
People who own a lot of property generally estimate the value for things like a statement of net worth. It isn’t unheard of to gild the lily a bit….but 3-4X is a lot..hehehe.
Like the Democrats, Mish is now obsessed with Trump. Can we move on please…maybe to Meghan and Harry?
Aren’t people making the loans supposed to validate the value of the collateral? Since when can the person getting the loan determine the value? Anyone taking out a home loan needs to get an independent appraisal.
This is 100% political.
More outrage from Trump’s Chumps.
Occasionally they do, but most of the time they don’t. They spend more effort looking at the cash flow, because that is how they are going to be paid back. The collateral is a last resort, and they expect a small amount of fudging, but count of the fact that a major misrepresentation of the value is a felony. When a borrower is facing a felony for misrepresentation of the value of a property, they often will find a way to pay the loan back, and that’s all the bank really wants.
Has trump defaulted on any loans? If not, this is clearly political. Why would someone be prosecuted over a loan they’re paying back?
I don’t disagree that if he has paid all the loans in full, there is no reason to prosecute him other than political ones. As for the question, is he in default on the loans where they are considering prosecuting him, I have no idea. I do know that in the past he has filed for bankruptcy on various occasions, so I have no idea if he has paid these loans in full or not:
Maybe they will spend money like Ken Starr did with the same result. Virtually nothing.
Different valuations are used for different purposes and at different times. The details of those valuations are what would be key and I am sure we will never hear about those details in our ‘headline’ world. I’m not saying there is nothing to see here, but the average person will look at his business dealings and have no idea what they are looking at. People’s minds are made up, anyway.
Different values are used for different purposes and at different times. I’m not saying there is nothing to see here, but the average person looking at this will have no clue what they are looking at. People will see what they want to see. Their minds are already made up.
‘No man is rich enough to buy back his own past.’ –Oscar Wilde
Nice quote…..my favorite Oscar Wilde quote, which might be apocryphal, is what he is reputed to have said on his deathbed.
“Either this wallpaper goes or I go.”
What’s about paedophile ring of Jeffrey Epstein? All disappear. Gone.
based on the reporting I”m shocked the IRS didn’t pick this up. People in Trump’s bracket and occupation get audited to a much higher degree than others
He has long said he is in the middle of an audit. We have no idea what issues the IRS is looking at.
I would bet 80-90% of Real Estate Investor/Developers over estimate the property they own. May even spread into corporations.
But then none of them threaten the “establishment” probably in bed with.
No doubt he’s guilty of overstating the value of the property, but it falls short of the kind of crime that would keep him from running for high office, I’m afraid.
If he runs, he’ll lose… but I think that can be said of any of the GOP main candidates. Cruz is just as greasy, but has much less charisma.
Treason with the goal of installing a hereditary dictatorship of retards turns voters off.
One would think. But apparently you can fool some of the people all of the time.
We have a lot of retards that want a retard monarchy, but thankfully not anywhere close a majority.
Remember the popularity contest doesn’t matter. It’s still the electoral college. Conspiracy theories can live a long time…
Except they haven’t even touched the long time money laundering allegations against his real estate empire yet. That, will be very interesting. Not saying they’ll definitely find anything highly illegal, but, it will be quite interesting what they do uncover. Russia, if you’re listening….
This may just be the first inning, heh. Michael Cohen and Alan Weisselberg may have something to say about various other shady maneuverings too. Not to mention the obvious felony in Georgia with vote tampering, and a few sexual harrassment cases. He’ll be a pretty busy ex-impeached president, defending himself from a lifetime of crime.
The statute of limitations on money laundering is five years, unfortunately.
Yes, there is the matter of the pay-offs to various girlfriends to shut them up…but that isn’t likely to amount to a felony either, I don’t think…..not after some negotiating.
Ah Russia again. Can you marshal even a single public fact on money laundering via Russia connections?
Weren’t there some Russians of a dubious nature in Trump tower for years?