Report: The Trump Organization Should Be Soiling Itself Right Now - Vanity Fair

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New criminal charges against the former president’s company may be on the way.

By Bess Levin

November 5, 2021

Back in July, the Manhattan District Attorney announced a whopping 15-count indictment against the Trump Organization (and its long-time CFO, Allen Weisselberg) for, among other things, conspiracy, grand larceny, and multiple counts of tax fraud and falsifying business records. While the charges were no doubt unwelcome, particularly given that prosecutors revealed a literal spreadsheet Donald Trump’s family business used to keep track of its alleged crimes, Team Trump presumably comforted itself with the hope that that was all district attorney Cyrus Vance Jr. had, and further criminal charges would not be forthcoming. But, surprise!

The Washington Post reports that the D.A. has convened a second long-term grand jury to hear fresh evidence about the Trump Organization’s “financial practices” and will potentially vote on levying new charges. (It was the first grand jury, which met in the spring, that returned the felony indictments against the Trump Organization and Weisselberg, both of whom have pleaded not guilty.) The new grand jury will meet three days a week over six months and is expected to begin hearing evidence Thursday in Manhattan’s Surrogate’s Court. According to one person familiar with the matter, the new group will likely examine how Trump’s company values its assets; another person familiar with the matter said staffers in the D.A.’s office are working closely with the office of New York Attorney General Letitia James, who had the ex-president’s foundation shut down in 2019 for illegally scamming charities.

Prosecutors recently inquired about the initiation fees Trump golf courses charged new members, the person said, and Trump’s role in setting those fees for individual customers. Trump often cited his clubs’ initiation fees in the statements he sent potential lenders, as a sign of the courses’ financial health. That appears to be a separate issue from the one described in indictments from the first grand jury, which has dealt with allegations that Weisselberg and other Trump executives evaded taxes on their pay by systematically hiding some of their compensation from the IRS.

Both Vance and James have previously said that they were examining allegations that the Trump Organization misled banks, insurance firms or tax authorities by manipulating the value of its assets to get favorable loan rates or to lower his taxes. James said in a court filing last year that her office was investigating Trump’s valuations of three properties: his Los Angeles golf course, a Manhattan office building and an estate in suburban New York called Seven Springs. James’s filing said she was interested in a “conservation easement” that Trump obtained on the Seven Springs property in 2015—giving him tax benefits in exchange for renouncing his right to build houses on part of the estate. Trump boosted the value of that tax break by estimating that the land would have brought him $21 million if he’d sold it.

James also indicated in the filing that she was interested in valuations of Trump’s golf course in Los Angeles, where in 2014 Trump obtained a conservation easement that he said lowered the property value by $25 million, the filing said…. Vance’s office, which is convening the new grand jury, has given far less detail about its investigation of valuations at Trump properties.

Last month, The New York Times reported that Westchester County D.A.’s office had opened a separate criminal probe into the Trump Organization thought to be focused in part on whether the company misled local officials about the Trump National Golf Club Westchester’s property value with the express intent of lowering its tax bill. For instance, in one year, town officials assessed the property at roughly $15 million, while the Trump Organization claimed it was worth just $1.4 million. Meanwhile, on federal disclosure forms filed while he was president, Trump said the club was worth more than $50 million. Which is quite the discrepancy!

Of course, the idea that a company run by Donald Trump would claim a property was worth significantly less than what local officials said it was should come as no surprise whatsoever. In February 2019, Michael Cohen, Trump’s former personal attorney, told Congress that in his experience, Trump “inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes.” Cohen cited portions of documents known as “Statements of Financial Condition,” which were write-ups of Trump’s real estate assets and debts, which Cohen said were intended to demonstrate his wealth, particularly to lenders who he wanted to loan him money. A month after Cohen’s testimony, the Post dove into such documents, and found that they were filled with a comical number of lies.

In 2011, for instance, a “Statement of Financial Condition” claimed that Trump owned 55 home lots ready to sell for at least $3 million apiece at his Southern California golf course. Yet, in reality, he’d only been zoned for 31, thereby overstating his future revenue by approximately $72 million. In a document from 2012, he added an extra 800 acres to the size of his 1,200-acre Virginia vineyard. In 2013, in an attempt to bolster his bid for the Buffalo Bills, a two-page “Summary of Net Worth” conveniently omitted his ownership of two hotels, in Chicago and Las Vegas, meaning, as the Post noted, “some of Trump’s actual debt load was hidden from anyone reading the statement.” In perhaps the most brazen example of Trumpian “exaggeration,” he invented an extra 10 stories at Trump Tower, claiming that the building was 68 stories when, in actuality, there are 58.

As the Post noted on Thursday, it’s possible the second grand jury could conclude without handing down further indictments, though if the prior one is any guide, that may not be the case. The Trump Organization did not respond to the Post’s request for comment. Trump’s personal lawyers Ron Fischetti and Phyllis Malgieri declined to comment. In previous statements, Trump, his spokespeople, and his family have decried any investigations into the ex-president and his family business as politically motivated witch hunts. Last year, Eric Trump told the Post, “This type of targeting and harassment violates every ethical guideline of a prosecutor. It’s wrong.”

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Nothing to see here, just Glenn Youngkin’s not-yet-18 year-old son trying to vote for his dad—twice!

Virginia, meet your new first family. Per NBC News:

The 17-year-old son of Virginia Governor-elect Glenn Youngkin twice tried to cast a ballot on Election Day even though he is not yet eligible to vote, election officials confirm to News4. He was unsuccessful in his attempt to vote. News4 is not naming Youngkin’s son because he is a minor and has not been charged with a crime.

Fairfax County election officials said the teen went to the Hickory precinct polling place at Great Falls Library. The location is not the polling place assigned to his home address. Election workers were able to determine he was not eligible to vote and didn’t allow him to cast a ballot. The Fairfax County Office of Elections said it is investigating the incident.

“This morning, November 5, 2021, the General Registrar was made aware of concerns that a 17 [year-old] male attempted on two occasions to vote on election day. The young man presented identification but was ineligible to be registered due to his age and was not permitted to vote. The man was given a registration form and encouraged to register for future elections,” the office of elections said in a statement on Friday.

A report by the precinct where the younger Youngkin tried to cast his vote show that he arrived at 9:30 a.m. Tuesday and requested a ballot. He was told he had to be 18 years old to vote and was instead offered a registration form. He declined. And then he came back 30 minutes later and tried to pull the same move!

The same voter came back to the precinct…at 10 a.m., and requested a ballot a second time. The teen was told he wasn’t eligible to vote and again was offered the opportunity to register, notes show. “He declined if he would not be able to vote today,” the chief wrote.

In a characteristic Republican-y statement, Youngkin’s campaign claimed the haters are just trying to take him down, that his son made a simple mistake twice in the course of 30 minutes, and that the boy “honestly misunderstood Virginia election law,” despite that fact that the U.S. pretty straightforwardly does not allow anyone under 18 to vote, and hasn’t since 1971. “It’s unfortunate that while Glenn attempts to unite the Commonwealth around his positive message of better schools, safer streets, a lower cost of living, and more jobs, his political opponents—mad that they suffered historic losses this year—are pitching opposition research on a 17-year-old kid who honestly misunderstood Virginia election law and simply asked polling officials if he was eligible to vote; when informed he was not, he went to school,” the campaign said.

Nikki Haley suddenly all about politicians being required to submit their tax returns

She was less concerned about such things when her last boss was in office.

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