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Trump Committed Tax Fraud & Insurance Fraud & Bank Fraud

DeacDiggler said:
if trump and company wanted to commit tax fraud, they would do it and make it worth their while. This is stupid. We have all been led to believe that a monthslong investigation by the federal government would result in meaningful charges against someone. Instead, they got hit with the same types of issues that 50% of american companies get audited for every year.

This is like giving OJ a parking ticket and claiming that we finally got him.
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What possible support do you have w/r/t the bold? Trump and Jr. have essentially admitted that the company car, the condo, and the payment of tuition happened. While it may have been dumb for the TO to do those things, they still appear to have done them.
 
Ball State Deac said:
What possible support do you have w/r/t the bold? Trump and Jr. have essentially admitted that the company car, the condo, and the payment of tuition happened. While it may have been dumb for the TO to do those things, they still appear to have done them.
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and this is just illegal stuff they are admitting to...we all know how often they lie, what are they not admitting to?
 
DeacDiggler said:
if trump and company wanted to commit tax fraud, they would do it and make it worth their while. This is stupid. We have all been led to believe that a monthslong investigation by the federal government would result in meaningful charges against someone. Instead, they got hit with the same types of issues that 50% of american companies get audited for every year.

This is like giving OJ a parking ticket and claiming that we finally got him.
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While I agree that this isn't bombshell material, I don't think that CEO's are writing personal checks to their executive management team in lieu of paying them salary.
 
Ball State Deac said:
What possible support do you have w/r/t the bold? Trump and Jr. have essentially admitted that the company car, the condo, and the payment of tuition happened. While it may have been dumb for the TO to do those things, they still appear to have done them.
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if you're going to commit real tax fraud, you don't waste time on this stuff. Would you beat up a kid to take his lunch money when there's an armored car to rob? Seems to me that the CFO did some shady stuff and he will never go to jail. None of that attaches to the trumps and we end up having spent tens of millions of dollars to find one crappy case of tax evasion that puts the CFO in minimum security prison for 3 months max.
 
DeacDiggler said:
if you're going to commit real tax fraud, you don't waste time on this stuff. Would you beat up a kid to take his lunch money when there's an armored car to rob? Seems to me that the CFO did some shady stuff and he will never go to jail. None of that attaches to the trumps and we end up having spent tens of millions of dollars to find one crappy case of tax evasion that puts the CFO in minimum security prison for 3 months max.
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Is it certain that these are the only charges we expect? Is the investigation over? Did all the $10million get allocated to this one charge or did they uncover this as part of the larger investigation.

This is exactly Trump's tactic. Admit to the minor crime, declare the law is BS, claim its all a witch hunt and a waste of money, so later when actual evidence of treason emerges, the public narrative is already settled.
 
I want him out of our lives forever and in jail, to be clear. I hope there's more, but I confess that I'm not optimistic. Most of the things I read last year were underwhelming and fit exactly into the model that our tax code creates for real estate investors. Real estate doesn't tend to cash flow very well, and the tax code generally reflects that. While you may be making money on paper (due to appreciation in your property), you seldom have income that's taxable. If that's true for Trump, there was not a lot of need for further tax shelters and his returns reflected that for the most part. Even the thing that was being audited is pretty standard tax planning - just arguing in some details over whether or not an investment was worthless.

I thought the play was to squeeze the CFO to turn on him and sell him out. However, the guy has now been publicly named (and his reputation is ruined) - and all they have on him is some second rate tax shenanigans that I see weekly doing due diligence on middle market companies.
 
It is a sorely underreported aspect of our tax system that it is designed to allow real estate investors to make millions or billions without paying tax for decades.

Suppose you start out with $100k of your own money, and you leverage that into properties worth $1 million. Over the next 7 years, those properties double in value, but the rental income is about the same as interest and depreciation every year, so you don't have any taxable income. You can take out loans against those properties if you want and take it out in cash - no income.

In year 8 you sell the properties and recognize a $1mm gain. You take your $100k, plus the $1mm gain, and you reinvest in all new real estate (a like-kind exchange) - deferring the entire gain. Now that you have $1.1 mm to invest, you buy $10 million worth of properties and run the same investment again.

Repeat indefinitely. After a few of these cycles, you own a shitload of heavily leveraged real estate, but you may have $100 million of equity - NONE of which has been taxed. When you stop reinvesting in real estate, the tax bill finally comes due....but not until then.
 
I don't even think they'll get Trump on the conservation easement thing because of the way he stays out of conversations that would implicate him. Somebody else will get dinged though.
 
birdman said:
Is it certain that these are the only charges we expect? Is the investigation over?
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DeacDiggler said:
if trump and company wanted to commit tax fraud, they would do it and make it worth their while. This is stupid. We have all been led to believe that a monthslong investigation by the federal government would result in meaningful charges against someone. Instead, they got hit with the same types of issues that 50% of american companies get audited for every year.

This is like giving OJ a parking ticket and claiming that we finally got him.
Click to expand...

Less than 1 percent of companies get audited.
 
DeacDiggler said:
if you're going to commit real tax fraud, you don't waste time on this stuff. Would you beat up a kid to take his lunch money when there's an armored car to rob? Seems to me that the CFO did some shady stuff and he will never go to jail. None of that attaches to the trumps and we end up having spent tens of millions of dollars to find one crappy case of tax evasion that puts the CFO in minimum security prison for 3 months max.
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You don’t seem too familiar with shady business practices of corrupt and often incompetent executives. Also, why do you assume this is the entirety of the tax fraud?
 
So does Mazars bear any responsibility for producing "documents that should no longer be relied upon?"
 
ImTheCaptain said:
it took them this long?
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"...based, in part, on filings by the New York Attorney General on January 18, 2022..."

So they stepped away when the NY AG showed them some documents.

It will be interesting to see what the "unwaivable conflict of interest" turns out to be. Is it possible Mazars and,/or some of its people could be facing some sort of charges in the future?
 
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