WilsonBlock1000 Radio

Trump's 'corporate death penalty' explained: veteran Manhattan fraud prosecutors describe what's next

Posted by on
Mod: It has gotten to the point where we no longer need to search hard for Trump's crimes, but rather what he has ever done that is at all legitimate.

Trump's 'corporate death penalty' explained: veteran Manhattan fraud prosecutors describe what's next (Business Insider link): Experts are calling it the "corporate death penalty." And what happens next is uncharted territory.

In a stunning decision on Tuesday, a Manhattan judge found that Donald Trump committed widespread, longstanding and ongoing fraud at the Trump Organization, and ordered what experts in New York financial crimes say amounts to the dissolution of his company.

The penalty, awarded on behalf of New York attorney general Letitia James, is so extreme, that Trump may fight James and the judge for years before anything actually happens.

And the penalty is so rare, that the only previous time it's been attempted on such a grand scale – when James sought the corporate death penalty in her three-year-old, ongoing fraud lawsuit against the NRA – has failed.

"It's a staggering judgement," said John Moscow, a former financial crimes prosecutor for the Manhattan district attorney's office.

"It means you are no longer a company, and the judge is appointing someone to take over the assets and distribute them as the court sees fit."

The ruling by New York Supreme Court Justice Arthur Engoron spends more some 35 pages describing Trump's frauds, and disassembling his lawyers' arguments. Then it yanks the corporate charter in two short paragraphs.

The first paragraph orders the immediate cancellation of any "certificates," meaning corporate licenses, that are held by Trump, his two adult sons, Trump Organization, and its underlying LLCs. 

The second orders that "within 10 days of the date of this order, the parties are directed to recommend the names of no more than three potential independent receivers to manage the dissolution of the canceled LLCs." 

Letitia James Has Killed The Myth Of Donald Trump (PoliticusUSA link): The judge in New York ruled that Donald Trump, Eric Trump, and Donald Trump Jr. all committed fraud for years. The judge agreed with AG James that Trump’s business wasn’t real estate so much as it was inflating assets and lying about his personal wealth to get loans.

The big word in the judge's order is dissolution. Not only did the judge rule that the Trumps were unfit to do business in New York, but that their businesses were going to be dissolved.

As they say on the late-night commercials, but wait, there’s more. AG James is seeking fines and penalties in the $250 million range.

James has proven that Trump isn’t worth anything close to what he claimed, and the state of New York is going to seize Trump’s assets and sell them to pay any judgment against him.



Mod: More at both links. Here is a brief video on the topic of cognitive decline.

sierramadretattler.blogspot.comThe Sierra Madre Tattler! https://ift.tt/0xoPzKv
Offical Podcast of Mistah Wilson

Comments

Post a Comment

Local Music Scenes

Music Scenes

Adelaide Music Scene African Music Scene Akron Music Scene Alabama Music Scene Alaska Music Scene Albany Music Scene Anchorage Music Scene Arizona Music Scene Arkansas Music Scene Atlanta Music Scene
Australian Music Scene Bakersfield Music Scene Baltimore Music Scene Beverly Hills Music Scene Boston Music Scene Brampton Music Scene Bronx Music Scene Brooklyn Music Scene Buffalo Music Scene California Music Scene Canadian Music Scene Charlotte Music Scene Chicago Music Scene Chicago drill music scene Cincinnati Music Scene Cleveland Music Scene Cologne Music Scene Colombian Music Scene Colorado Music Scene Compton Music Scene Connecticut Music Scene Dallas Music Scene Daytona Beach Music Scene Denver Music Scene Detroit Music Scene Durham Music Scene Finland Music Scene Finnish Music Scene Florida Music Scene Georgia Music Scene Germany Music Scene Ghana Music Scene Greece Music Scene Greensboro Music Scene Hawaii Music Scene Hiram Music Scene Honolulu Music Scene Houston Music Scene Illinois Music Scene Inglewood Music Scene Iowa Music Scene Ireland Music Scene Jackson Music Scene Johannesburg Music Scene Kansas City Music Scene Kansas Music Scene Kentucky Music Scene La Habra Music Scene Las Vegas Music Scene Lexington Music Scene London Music Scene Long Beach Music Scene Long Island Music Scene Los Angeles Music Scene Louisiana Music Scene Louisville Music Scene Maine Music Scene Marion Music Scene Maryland Music Scene Massachusetts Music Scene Melbourne Music Scene Miami Music Scene Michigan Music Scene Milwaukee Music Scene Minneapolis Music Scene Mississippi Music Scene Missouri Music Scene Munich Music Scene Nashville Music Scene Nevada Music Scene New Jersey Music Scene New Mexico Music Scene New Orleans Music Scene New York State Music Scene Nigeria Music Scene NorCal Music Scene North Carolina Music Scene Oakland Music Scene Ohio Music Scene Oklahoma Music Scene Ontario Music Scene Oregon Music Scene Oxnard Music Scene Pennsylvania Music Scene Philadelphia Music Scene Phoenix Music Scene Portland Music Scene Rhode Island Music Scene Rochester Music Scene Sacramento Music Scene Salt Lake City Music Scene San Antonio Music Scene San Bernardino Music Scene San Diego Music Scene San Francisco Music Scene Seattle Music Scene South Africa Music Scene South Carolina Music Scene St. Louis Music Scene Tennessee Music Scene Texas Music Scene Tokyo Music Scene Tulsa Music Scene Utah Music Scene Vallejo Music Scene Vancouver Music Scene Virginia Music Scene Waco Music Scene Wisconsin Music Scene Wyoming Music Scene altadena music scene american music scene local music scene music scene new york music scene northwest music scene pasadena music scene seattle music scene toronto music scene
Show more