Donald Trump has screwed up a lot of peoples’ lives, not to mention the 350,000 Americans who died from COVID because he was telling people, “It will just disappear like a miracle one day.” Add to the list the condo and business owners currently in Trump Tower, who are now victims of ETTD, everything Trump touches dies. A New York judge threw a real whammy into Trump’s stage act Tuesday when the Trump Organization was ordered dissolved, a judge was appointed to monitor assets and 10 days were given to find a receiver. What will that receiver do — assuming, for the sake of argument at this point, that Trump’s assets will be seized and liquidated, by order of the court? We know Leticia James has asked for a $250 million judgment, and if she gets it, how will Trump pay?
Look at it this way, he might as well get rid of Trump Tower. He’s no longer got business to conduct in Manhattan, that’s an absolute. So Trump Tower may just be an expensive albatross he no longer needs. Which is going to pose one hell of an inconvenience to Melania and her parents, because that’s where they’ve been a lot of the time. The last time Melania was spotted publicly it was leaving Trump Tower a few months ago.
Now Trump could let Melania and his once-Communist Party card-carrying member father-in-law and wife stay in Trump Tower, or he may have to get real and let the place go up for auction. That is the theory that Twitter is kicking around this morning with Trump biographer David Cay Johnston and others. And with respect to Melania and parents, they have other places to live. The condo owners don’t.
Trump is gonna have to sell Trump Tower?
Oh, that would make me laugggggggh and laughhhhhhhh. https://t.co/GtfUb44Kcz
— The Hoarse Whisperer (@TheRealHoarse) September 27, 2023
And of course there’s a drop dead dirty dog match going on now between Eric Trump and the world over what assets are worth what. As you’ve seen, Eric claims Mar-a-Lago is worth $1 billion, and the court values it at $18 million, which is quite a disparity. Never the twain shall meet on those two figures, me thinks.
Foreigners laundering $$$ through thump Org, don’t know if anyone actually lives there. Wonder who gets to take the signs. They should have an auction, give the $ to the charities they cheated. Are the IRS changing the locks, confiscating property and the building for back taxes?
— M 🇺🇸🇺🇸🇺🇸 M (@hawkilitle) September 27, 2023
yes, supposedly some RU mafiosos have quite a few condos there, but it's the other normal folk who've invested in properties-some are just regular people who've now lost a LOT of value. Can't even try to calculate such losses. Repay charities is good
— Blazed55🌻🌈☮🧡 (@eblais8) September 27, 2023
Whoever buys it, please please please name it Hillary Hotel
— Sherri 🌵 (@fritz353) September 27, 2023
The Hotel Hillary, I’ll go along with that. Another suggestion has been to rename the place the Hillary Clinton Federal Building. That would work, too.
Hey striking UAW members!
When building Trump Tower in the early 80s, Trump hired undocumented Polish workers for $4 an hour ro work 12 hour shifts, 7 days a week with no overtime.
He's NOT a friend to Labor
— Judy Nichols (@Judy5cents) September 26, 2023
Maybe this is Lady Karma having a field day.
You gotta know the Russian & Saudis are PISSED knowing all that dirty💰that flowed thru Trump Tower in Manhattan & other nefarious properties in NYC are gonna be seized. Quite honestly, I hope they raze TT & turn it into a homeless shelter.
Karma is coming…. https://t.co/bgAq7I4Hsq
— Beep🌻🇺🇦 (@fiercefreckled) September 27, 2023
I would love it to become a homeless shelter. I would contribute to such a thing, personally. Migrant housing is another suggestion which has been made and that works, too.
Now here’s the part that’s going to piss off Melania. And this may explain why she’s MIA. She probably was told by the lawyers that this was coming. If she has any brains, and I give her a lot of credit for peasant cunning, certainly not intellect, she’s got her own lawyers. I know I would if I was in her Louboutin shoes, wondering if I’d have to sell my 25 carat diamond.
“The various properties are likely to be sold at fire sale prices. Among these is the portion of Trump Tower that Trump still owns; his own triplex apartment there; his golf courses; and Mar-a-Lago, the Florida mansion he bought in a corrupt mortgage deal decades ago.” https://t.co/MU5wzOOSQC
— Xeorge Xonway (@gtconway3d) September 27, 2023
Donald Trump is no longer in business.
Worse, the self-proclaimed multibillionaire may soon be personally bankrupt as a result, stripped of just about everything because for years he engaged in calculated bank fraud and insurance fraud by inflating the value of his properties, a judge ruled Tuesday.
His gaudy Trump Tower apartment, his golf courses, his Boeing 757 jet and even Mar-a-Lago could all be disposed of by a court-appointed monitor, leaving Trump with not much more than his pensions as a one term president and a television performer.
A New York State judge on Tuesday cancelled all of the business licenses for the Trump Organization and its 500 or so subsidiary companies and partnerships after finding that Trump used them to, along with his older two sons, commit fraud.
Under the New York General Business Law you can only do business in your own name as a sole proprietor or with a business license, which the state calls a “business certificate.” All of Trump’s businesses were corporations or partnerships that require business certificates.
Now here’s the part I was looking for. This is why the Trump lawyers got sanctioned.
Five Trump lawyers were each fined $7,500 for making “frivolous” arguments.
A judge calling a lawyer’s argument “frivolous” is the equivalent of saying it is no better than nonsense from a drunk in a bar, as I teach my Syracuse University College of Law students.
Those lawyers may well find it wise to hire their own lawyers as Judge Engoron’s findings could form the basis of disbarment proceedings, something already underway against Trump lawyers Rudy Giuliani, the former federal prosecutor, and John Eastman, a former dean of the Chapman University School of Law in Orange, Calif.
Oh, mama. And Christopher Kise, one of the lawyers who was sanctioned, left a partnership at a prestigious firm to work for Trump. I hope he got a bundle up front. Either that, or he’s a MAGA lunatic himself, with delusions of grandeur. Maybe he thought he would get Trump off the hook and then wind up attorney general in the second Trump term. I have no idea, I’m just speculating on why a partner in a white-shoe law firm would leave that and go to work for a gangster like Trump. There had to be some reason.
In 2015 Trump claimed his net worth was north of $10 billion. When he became president, he asked if he could file his federally required financial disclosure statements without signing them under penalty of perjury. That request was denied. The statement Trump then filed, by my counting, showed a net worth of not much more than $1 billion, but was based on fantastical assertions of value.
News organizations, except DCReport, told their audiences next to nothing about how from June 2015 to January 2017 Trump’s claimed net worth fell by roughly 90 percent.
Trump will, of course, appeal. He is already suing the judge, so far without success.
Trial goes forward next week and the amount of fines for bank fraud and insurance fraud will be determined. Trump will then have to pay the judgment out of pocket, or his assets will be seized and liquidated. Or, maybe he’ll get MAGA to pay the judgment. That wouldn’t surprise me one bit. I know he’ll try.
Now here’s a key point, remember this one: Trump has to disgorge his ill-gotten gains.
The principal issue to be decided at a trial scheduled to start Monday, Oct. 2, is how much Trump will be fined.
Trump also argued that since he paid his bank loans and insurance premiums on time no one was hurt. He argued against “restitution.”
The judge noted that the case is not about restitution but disgorging ill-gotten gains.
Here’s the analogy I will teach my students: Suppose your employer is closing for a day and when business is done you swipe $100 from the cash register, go to the racetrack, make a winning bet and before business resumes you put back $100.
You still committed a crime and if get caught you forfeit the track winnings as the proceeds of your ill-got gain — that’s disgorgement.
Again, oh mama. Trump is going to be climbing the walls over this one. This is financial wipe out time. And don’t think Melania doesn’t know it. She’s off radar while her husband is running for president. That’s also a unique situation in this country. She married somebody she thought was one of the richest men in the world. She thought she and her son and her parents would be set for life. Now she’s probably rethinking all that. Oh well. Get in bed with the devil, don’t complain when you get burned.