Cyrus R. Vance Jr., Manhattan D.A. is Investigating Trump and His Company Over Fraud
The Manhattan district attorney’s office suggested on Monday that it had been investigating President Trump and his company for possible bank and insurance fraud, a significantly broader inquiry than the prosecutors have acknowledged in the past.
In the new filing, the prosecutors did not explicitly identify the matters under scrutiny in the grand jury inquiry, which by law is conducted in secret. But they said that “undisputed” assertions in earlier court papers and several news reports about Mr. Trump’s business practices showed that the office had a wide legal basis for the subpoena.
The prosecutors cited newspaper reports, including one that concluded the president may have illegally inflated his net worth and the value of his properties to lenders and insurers. They also included an article on the congressional testimony of his former lawyer and fixer, Michael D. Cohen, who told lawmakers last year that the president had committed insurance fraud. Lawyers for the president have denied wrongdoing.
Rebecca Roiphe, a former assistant district attorney in Manhattan who now teaches at New York Law School, said Mr. Vance’s decision to cite public accusations of wrongdoing allowed his office to defend its subpoena without revealing the actual focus of its investigation.
If Mr. Vance succeeds in eventually obtaining Mr. Trump’s records, they are unlikely to become public anytime soon because they will be shielded by grand jury secrecy rules. The records might only emerge later if criminal charges are brought and the records are introduced in a trial.
That last paragraph is key. We will not know much until after the election.
But the rumors will easily swirl until then.
Meanwhile, Trump will likely start Tweeting “Witch Hunt” every other day for weeks instead of “Law and Order”.
Mish
It will take a while but I think Trump is going to prison for tax fraud. Cohen paid Stormy through a fake shell company and then Trump personally signed a check from his business account to reimburse Michael for the Stormy payment. Who thinks Trump didn’t take a tax deduction for this? Seriously to be clear – payoffs to your mistress are not tax deductible. Cohen will be the star witness again. There is no statute of limitations on tax fraud so they can audit Trumps tax returns going back 50 years. They just have to document one instance of fraud and then the door swings open to all history forever. Trump Sr. used a shell company to mark up purchases and pay his children, bypassing estate laws and that can also be investigated and prosecuted. They could owe millions in back taxes and penalties. No statute of limitations is a killer. This is not political theater like impeachment. Tax fraud shifts the burden of proof to the individual, not the State. These are the strongest and most punishing laws on our books. That’s why people like Helmsley and Capone get destroyed by tax laws. Anyone dumb enough to violate tax law will always lose. Trump can scream all he wants about witch hunts and the tax courts won’t give a damn. If you break tax laws – you are going down no matter who you are.
I agree with Pres. Trump. It [IS] a Witch Hunt. Democrat NYC D.A. Cyrus Vance & Pres. Trump have tangled before Trump became President. Pres. Trump has stomped Vance on several occasions thus the animosity coupled with doing FUHRER Nancy Pelosi’s bidding. Nevermind the facts known about Hunter Biden, “Quid-Pro-Quo-Joe” Biden’s Ukraine’s BURISMA & China’s Bohai Harvest RST Cover-Up which the Democrats want to disappear. Nice try Mr. Shedlock, BUT you know the Truth and don’t want to tell it.
Mish it must be more profitable for your site to post left wing garbage/rumours than do time consuming, honest journalism. Or has someone kidnapped a family member and holding them hostage. Either way your posts have deteriorated dramatically.
I never vote for anyone who wants the job.
It is a sad day for jurisprudence when the NY state prosecutor presents newspaper stories as evidence of crime: the Trump “may have inflated” his net worth. This not only doesn’t pass the smell test, it’s the same tripe as the NYT’s hit job concerning Trump’s inheritance–nothing approaching evidence, just vague unfounded assertions.
“Nothing approaching evidence”….except the tax returns.
I’m amazed Trump has gotten away with what he has for years. Politically he’s a used car salesman and frontman for Putin. Maybe that pee-pee tape is real,..he’s running from something big. Just today the Miami Herald discovered Epstein was a member of Mar-a-Lago despite Trump’s denials.
What’s wrong with this man only a trained psychiatrist knows (Mary Trump does),…that he has to constantly lie.
It’s fairly easy to discern Trump has never done any self actualization work,..he probably can’t even spell it.
or pronounce it
You do not like Trump. Personally, I don’t like him, either. Having met a number of large real estate developers over the years, I can say there is a tendency to bravado and big egos, and they play the game ‘close.’ They seldom pay much in Fed tax, but that is because of the US tax code. They hire a lot of lawyers and take every advantage possible–this does not mean breaking the law btw.
That said, your assertions are NOT proof, as much as you might like them to be. They indicate a very closed mind, a dangerous thing in today’s uncertain world.
When Trump was elected, it was very obvious that the anti-Trump movement would do whatever it took to prevent a second term. That is now happening. It will get even worse as the election approaches. As for self-actualization? Not worth a comment!
Serious question:. If Trump loses the election, will he flee the country to avoid prosecution?
Think there’s a non-zero chance that Trump will be watching Biden’s inaguration from Russia.
Nope. If Pres. Trump loses the Democrats will arrest him, AG Barr & John Durham and anybody associated with him & all will be SHOT at Sunrise the next day. Democrats know “Dead Men tell no Tales.”
Now that’s just crazy talk.
In politics you either play offense or defense. Defense wins games but it’s always tough to watch.
Very true. I’m against Trump, would never vote for him, but I feel sorry for him too. The prosecutors want a high-profile scalp for their resume. Fact. And inflating net worth is always true in real estate. That’s what every applicant does when applying for a loan or even looking for a new job. Who’s going to say “I’m a bit of lazy deadbeat at times”?
Check out what happened to this politician, Bob McDonnell, when accused of accepting some minor gifts (he got ruined, his legal bills were 27 million USD, you can’t fight City Hall): link to en.wikipedia.org
He went way beyond the normal property developer’s use of the highest possible valuation and we all know it. I worked for a guy a lot like him, just not a so called billionaire which is really the secret to his success as a self promoting somebody when he would otherwise be a nobody. My boss actually bought a really lousy used up Xerox machine at a school distric auction that made nearly illegible copies in order to hide the white out marks where he changed a + sign to a – sign for tax purposes, and – signs to + signs for borrowing and credit purposes. He used to go to junk auctions of big machinery and buy a backhoe or bulldozer for scrap value and paint the parts you see from the road in CAT yellow, polish up the hydraulic rams and streak them with fresh grease so they looked next to new, then borrow at the bank against the equipment that had NO VALUE beyond it’s weight in metal less transport and break up costs, essentially zero, it would cost the bank more to take those machines and sell them for scrap than they were worth, he borrowed tens of thousands againt that junk. All the loan officer had to do was get out of his car and walk around it to see it was fake. But they did not even do that, they just looked at the photos he sent with his loan app.
THAT is how Trump operates. He screws lenders and the loan officers have no choice but to go along with it because they will be fired the moment the bank realizes they were duped. In Trump’s case how can he simultaneously be a billionaire and unable to pay creditors in his six bankruptcies? All of which were preplanned to screw vendors and contractors.
Then along comes Duetsche Bank already compromised in a massive russian money laundering scheme lasting from the fall of the USSR to this very day.
Because the russians had a use for Trump who they already had dirt on, not serious dirt but enough to ruin his chances at running for office which he had done a number of times in the past. They went to Duetsche Bank and guarantteed the bank full repayment of all Trump Organization debts if the bank would lend and launder enough money to him to make it worth their while and the very first time Trump said yeas he was captured, not only would any hope of high office be gone but the russians now had enough dirt on him to send hime to prison effectively for life.
To make sure he walked into this trap they did the Palm Beach house deal where Trump had picked up a manse in PB for $45 million and sold it to a russian billionaire for $110 million. The house was torn down without the russian ever setting foot in it. Right because we all want to pay $65 million more than the seller bought months ago and then leave it empty till we tear it down, and not one single republican sees anything fishy about it.
Trump is a walking financial crime wave and he may well be guilty of greater crimes such as the threats to Stormy Daniels in a Las Vegas parking lot by someone who implied her she and her kid were dead if she persisted, a man operating on Trump’s behalf and which security cams caught but not quite good enough to identify the man, who has never been found. If the russians sent you on such a mission do you really think you would live to blow that whistle? They are not leaving that kind of loose end so his body will never be found.
Ray you are right about that, the gulf between knowing a guy is crooked and proof beyond a shadow of a doubt in a court of law is pretty wide. We do know that DB was laundering money for the russians, it has been found out confessed and fines levied, but the connections between the russians and Trump if they are out there are not public information. I mean there are some tenuous connections that give the appearance of them being in a criminal pact, but proving it based on what is now public is not going to happen. Still, if there is such a connection and I do not for a moment doubt that, then there is also proof somewhere and it can come to light any day.
As to going to jail for being a con artist, that is a term that covers a broad range of frauds, and yes you can go to jail for fraud, though most petty criminals do not do a lot of time over smaller crimes, especially if they cooperate, but what we have here is a guy that was never a petty anything, all his crimes are as big as his psychopathic ego can make them.
That is really the secrect to his so called success, he dares anyone to lift the curtain on the wizard behind the screen, because what his defense would be is that our entire financial and economic system is one immense fraud. That if he is guilty so is Jamie Dimon and all the other mandarins of Wall Street. His defense would boil down to “SO WHAT? EVERYONE DOES IT!”
But in fact he has committed crimes for which lesser businessmen are currently in prison for a long stretch, first to come to mind is lying (perjury) on BK filings, using the US Bankruptcy Court as a weapon against creditors that did not play ball his way, and we know this is true because if he ever did anything to change or exaggerate his financial condition in either direction in order to appear unable to satisfy his creditors then he has committed a federal felony. So he cannot have stated his assets and liabilities one way to Duetsche Bank to obtain credit and another way to the BK courts without either committing bank frauds or else committing perjury. All a prosecutor has to do is compare contemporaneous filings in court with credit applications to DB and if they do not match then he is prison bound and that is NOT too much for me or tens of millions of other Americans.
In fact, he also made other false statements that can be compared and prosecuted if they do not match, for example he has filed tax statements in many states and countries, if they do not match he is criminally liable in those jurisdictions as well.
When they finally get ahold of his records they will be surprised to find out he is utterly broke and has been for years.
They will see his liabilities are greater than his assets yes, but those books will be as cooked as books get, so he has laddered out his liabilities in such a way that there is access to assets enough to make him appear wealthy when he wants to be and unable to pay creditors when he doesn’t. At least up till 2017, his tenure in office has reaped a lot of money for him, how much I do not know because this is all the product of emoluments he has a specific reason to want to hide so we likely will not know. I think the key is to uncover the illegal dealing with the russians, going bact at least to the sale of the house in Palm Beach, they are the key to disassembling the so called Trump empire, and I would love to see his kids unable to afford legal advice and make due with a court appointed attorney. Because those vile creatures are up to criminal activity to their bottle blond hairlines.
Biden is waiting with anticipation to find out who is going to be his VP candidate.
He will let us know as soon as someone tells him…. that is if he can remember….
Well said Truthseeker, Biden as a placeholder, his VP pick could potentially be a disaster for our country. Chose wisely in November.
It could be a disaster, tRump IS a disaster!
Just wait if Biden becomes president, then you will find out what a true disaster is.
Boogie man will get ya! Boogabooogaboooga!
Crap, I was going to post a reply to Roto and googled where to go to get DTS help, a whole lot of Defense Department travel pages came up that do not look like anything to mess with! 🙂
And Obama wasn’t?
Fuck You Again, Cock-Sucker!!!
“A man who has never gone to school may steal a freight car; but if he has a university education, he may steal the whole railroad.”
― Theodore Roosevelt
This site has been infected with TDS all about orange man bad. And Obama gets a free pass on all of his misdeeds.
Not just Obama. Bush invaded Iraq. Clinton repealed Glass Steagal.
This country is evil, but Americans act as if history started back in 2016.
Must be nice living in insomnia land all the time.
If that is so, why do you come back? I am not being argumentative, I am merely curious because I do not frequent sites that I think are deranged.
I come to this site for the informative financial articles, even though I have to wade through all the orange man bad comments. If you think Biden will make your life better you are sadly mistaken as Biden brings his own baggage and is so mentally compromised that the DNC does not want him to debate.
Orange man good for himself, does that make you feel any better?
“I do not frequent sites that I think are deranged.” Oh come on, ZeroHedge is always good for a few chuckles.
Obama isn’t president anymore. You have Obama Trauma, and are living in an infinite loop of Obama. Seek medication from ObamaCare.
Is Obama the president? Do you actually think that if there was any crimes committed by Obama or Hillary Bart (Trump’s personal AG) wouldn’t prosecute? Honestly what happened to “lock her up”???? oh I know it morphed to “lock Trump up”
One of my predictions when Trump became president is that he will go from the White house to the Bighouse (IMO). Narcissistic people will always trip and hang themselves if given enough rope. I still remember Hitler saying how he was so much smarter than his generals. Didn’t Trump said something like that? LOL
Is that ALL You suckers of orange apes tiny penis got, “What about Obama”, Fuck You Cock-Sucker!!! What about Bush, or Clinton, or Bush the First, Fuck You Twice You Pile of Shit… This is about Your Faggot Orange Overlord, and he is Also Indefensible…
You Fuck-Shits are a Broken Fucking Record YOU Parrot Cunt-bitch… Move to a New Trailer-Park and Stop Fucking Your Sister, Cock-Spit!!!
“If Mr. Vance succeeds in eventually obtaining Mr. Trump’s records, they are unlikely to become public anytime soon because they will be shielded by grand jury secrecy rules.”
Highly likely they are leaked to friends in Congress or elsewhere who will then leak them to the press.
All those abused suckups are going to enjoy seeing him humiliated when they show he’s not nearly as rich as he says. I bet he claims the returns are fake.
And this is why it is so important for Trump to remain President. When his time is up in the White House, he may find himself in the big house.
And Obama can keep Trump company!
You have a good point there. Trump’s life might be a living hell if he loses the election and the prosecutors line up to charge him.
On the other hand, America could start to look like a third world country, where every President elected goes after the prior President for corruption. Interesting that despite the chants of ‘Lock her up’ and the debate promise that he would, Trump never tried to prosecute Hilary.
America’s been governed Peron’s way a long time already. Argentina was also once the richest country in the world. By now they are no better than some US style banana republic.
But, there like here: As all the dupes always knew and always know: The next Dearest Caudillo will be the great one! Who will make every hope and change great again! After all, that’s what The Man on TV says.
There is no level to which Democrats will not sink to implement their communist takeover……
Doing the same thing over and expecting a different result is the definition of insanity. This is the extension to the failed impeachment. The democrats had years to find some thing to impeach him on. It failed miserably. Soon they will be reviewing his grade school records for violations.
I suggest you do some research on tax law. It’s nothing like impeachment. Burden of proof is on the defendant and you are presumed guilty and must prove yourself innocent. The State overwhelmingly prevails in tax fraud cases. This is not the same thing at all and anyone who violates tax law should be terrified once authorities are on to them. It’s the easiest case to prove and the penalties are brutal and can include imprisonment and complete bankruptcy. All the lawyers in the world can’t save you from the tax courts. You may get away with murder but you won’t get away with tax fraud.
I seem to recall the Russian and Ukraine collusion stories were incessantly pushed as gospel, and later it was shown to be a complete hoax. In fact, the evidence is showing the collusion was between the highest levels of the FBI, CIA, and the political establishment (the Durham report should make all of this clear).
What most may not remember is that the fabricated story started with the supposed hack of John Podesta’s emails by Russians, which were then given to Wikileaks. Forgetting for the moment that the content of the emails was NEVER disputed, there is very obvious evidence that it was NOT a Russian hack, or any kind of hack. As the former Techincal Director of the NSA wants to prove, it was a simple download onto a thumb drive or CD, which he describes in detail here – link to zerohedge.com.
Still your president… LMAO
How much more corruption will [fake] CONSERVATIVES put up with?
I remember when I was active in the GOP, we handed out “Character Matters” bumper stickers proud of our Republican candidates. You couldn’t hand those out today without being laughed out of the room.
I admire my fellow conservatives who didn’t sacrifice their principles to support this man!
Mitt is the only one I can think of, do you know of others? They should be recognized… they took a hit for their principles. They are the AntiCruzes!
Amash, Sanford, and Massie to a degree…
Sasse for sure. He says what he thinks is right.
Sanford was a great trail hiker.
“The prosecutors cited newspaper reports, including one that concluded the president may have illegally inflated his net worth and the value of his properties to lenders and insurers.”
…
I read the WP article. No real meat there.
As someone who regularly has to fill out a financial statement for banks, there is ample latitude in self assessment. Having said that I typically do NOT sign the statement until I run caveats by lending officer. Anyways, can not imagine someone loaning me money solely on statement. Just part of the puzzle. If a bank snookered by DJT two things come to mind – piss poor due diligence and vision of big fees dancing in their heads.
Replace snookered with defrauded, and you’re there.
How was a bank defrauded?
They entered a deal with more risk than was disclosed. Risk has monetary value, particularly in insurance. If I tell my insurer I have a 4 banger mustang, but really have a GT, that’s fraud. If I tell a lender I have a million dollars in assets to secure my loan, and I only have tree-fiddy and some pocket lint, that’s fraud.
“If I tell a lender I have a million dollars in assets to secure my loan, and I only have tree-fiddy and some pocket lint, that’s fraud.”
…
“tell”????
That is not how it works. Bank will want substantial down payment. Bank will want collateral / lien. Bank will want to see other documentation. Such as letter of intent (to lease) from prospective tenant.
Borrower just does not waltz into a bank and “wing it” … and get $$s.
So you admit it was fraud.
Not at all.
AGAIN, you fail to explain PRECISELY how Trump “defrauded” banks.
Time will tell. But investigators always look for a pattern of behavior to prove fraud.
They dont have to look that far.
He is a flat out embarrassment to the US. Lock him up…lock him up….lock him up. Wonder where I heard that before.
The Orange Grifter.
From the moment he didn’t put his wealth into a blind trust like he once proposed, we should’ve been expecting massive corruption.
People, stop voting for Demopublicans. Or just stop voting. Have you learned by now that you have been “throwing away your vote”?
In fairness, I don’t know how he could have put his assets into a blind trust. That works if you own stocks, because the trustee an move them around. It can’t really work with Hotels as they are much slower to sell, and they can’t be sold without it being in the news.
It’s good to try to be fair. But, those excuses don’t suffice.
He had at least a year before his term began. In that time, he could’ve bundled his properties into a holding company and liquidated several ways.
Companies sometimes publicly announce they’re for sale. Nothing was stopping him.
…
Carl, this was trump’s idea. If it wasn’t “practical”, why did he float the idea?
This is one of several examples of trump flip flopping. You cant seriously be trying to make excuses for this guy. Can you?
Trump often says things without thinking about them. I don’t consider it to be something he could reasonably have done. In a Covid world, though, had he dumped them at a big loss before he took office, he probably would have lost less than Covid cost him.
>> In a Covid world, though, had he dumped them at a big loss before he took office, he probably would have lost less than Covid cost him.
lol… True, provided he didn’t reinvest the proceeds anywhere else, like a Boston-NYC Air commuter service or another football league. 🙂
Anna is Russian foreign intelligence troll.
I will not stop voting, or contributing to political causes here in the U.S.
Please VOTE people, even if sometimes it seems like it’s all work in progress.
Do you truly believe your accusation?
If so, on what basis?
If not, why did you write it?
I made that comment so you could stop spreading BS about not voting.
If we don’t vote, at some point the whole earth will belong to one giant bank with stormtroopers to go along with it.
Trump or Biden?
Both?
both would be ideal!
Biden has not botched a pandemic which has infected millions of Americans and killed now over 155,478.
Biden has not caged any kids.
Biden has not sent unmarked goons into American cities and made arrests without probable cause or warrants.
Biden has not given the USA the worst economy since the depths of the great depression.
Biden has not posted racist videos to the internet.
Biden has not made 238 trips to the golf course as Americans are dying at the rate of 41 people per hour.
Last but not least Biden is not being investigated by New York state officials for bank and insurance fraud, soon to expand to wire fraud and RICO crimes, as well as likely charges on tax fraud and perjury in his many bankruptcy filings.
So, I do not want either of them keeling over anytime soon. I want to SEE Trump go to prison where he belongs and see Biden put the country back together after four years of neglect and outright political and social vandalism that can only appeal to the very fringe far right and Tsar Vladimir himself.
[EDIT] Since posted 3 days ago another 4.630 Americans are dead, that is 1,543 per day who will not get to vote!
Biden is just too old and addled to be president.
Z yes I believe he is also, but our choice is between two historically old people for the office in 2020 both with noted cognitive issues at least intermittently.
This is why I have said over and over I will reserve judgement on my vote till I know who Biden’s VP is going to be, but thinking about it more I have decided that it is just as likely Trump would not survive his second term if he won so that would leave Pence as president, and I think that man has got major mental health problems himself. I never wish to see a so called fundamentalist xtian in office because they have the mental ability to justify anything no matter how immoral or unconstitutional.
So this leaves me with only one realistic vote, Biden. For better or worse I just cannot bring myself now to even consider a vote for that crime wave on feet called Trump.
Oh hell yeah, I’ll vote for Biden. I don’t think he’s worthy of the office, and is just flat too old for that job, but the raging dumpster fire alternative leaves me no choice. I have not been a regular voter, but after this I will be. I regret not voting last time. I didn’t think Hillary was worthy of the office, I didn’t like the Clinton dynasty thing, and I figured trump couldn’t possibly win. For a while I thought it was funny, watching him flounder around while everyone’s heads exploded.
I don’t think that anymore. trump represents an existential threat to everything on this planet. A clown is funny. A puffed up fatboy-tough clown with a nuclear arsenal and army of anonymous thugs snatching Americans off the street is not.
There have been rumors that Pence will be replaced as VP candidate, so we have have two as yet unknown VP candidates, and since I don’t expect either Trump or Biden to be around in 4 years, one of the unknown VP candidates will be the President. Personally, I’ll probably vote for Dr. Jo Jorgensen. At 62, she’s a spring chicken compared to Trump and Biden.
She may be likable enough and certainly younger but…..
But in 2020, Libertarians are going in a very different direction, best evidenced by Bill Weld’s successor as the party’s veep nominee, Spike Cohen. Cohen, an online media entrepreneur, is best known as the designated running mate of political performance artist Vermin Supreme, the perennial candidate known for wearing a boot on his head and promising all voters free ponies. Supreme, who was a bizarre minor presence in the 2012 and 2016 Democratic presidential contests, took his act to the Libertarians this year, and though he finished third in last weekend’s online presidential vote, his sidekick Cohen won the separate vice-presidential balloting.
You can bet your bottom dollar that some Republican controlled committee in the senate is “investigating” the Bidens for trumped up “corruption” charges and this will all be vomited out to the public just before the election. Enough time to smear, but no time to exonerate. (And, no, Trump was not exonerated in the Muller report)
Let them, at this point it will not matter, early voting starts in PA on the 14th and Biden is anywhere from 6 to 14 points ahead, with an average of about 8 points up. Jabba the Trump will be lucky to get Texas at this point and there just is not enough time for him to turn it around. Too many people are saying like I do, I would vote for a ham sandwich before I would vote Trump no matter who is on his ticket. After the election the GOP is going to be in the minority in both houses, no longer making appointments to SCOTUS (hang on dear RBG) and controlling nothing. They can and will toss sand in the gears of government, but at least they will not be appointing criminals to high offices. And they cannot do the gridlock thing that they so love and change their image in the eyes of voters who are not just pissed at the current crop but have gone off the republican brand. Such an irony that they are the ones under whom the USA drowns in debt, yet the people have been cut of mid emergency. Meanwhile corporations have never been better off and their shares (85% of which are owned by just 10% of us) are in record territory even as millions and tens of millions are at threat of homelessness and hunger, bankruptcy.
“Biden has not ……………..”
Neither has Stalin. Nor most any other hobgoblin.
The way decay works, is that President n is worse than President N-1. And the only possible result of financialization, as well as it’s enabler progressivism, is unrelenting, unbroken decay. Which resolves to………
Trump is bad for the country, because he is powerful enough to be bad for the country. Limit him to Washington/Jefferson’s $7mill budgets, no standing army, no Fed, no power to levy activity taxes, and a citizenry better armed than anyone at his beck and call, and he’d be a perfectly fine president. Just like that slave owning “racist” Jefferson was.
He’ll stroke out before they convict him. The way he’s staggering around, he’ll be dead in a year.
I want a twofer.
They need to look into Kushner’s hanky panky.
He’ll just flee to Israel.
That creepy bugger probably has his own pizza pedo dungeon.
they are looking into Kushners sheit,…. link to thehill.com