Trump Caught Moving Money Around to Pay Massive Tax Bill

[Nevilledog]

https://www.thedailybeast.com/trump-caught-moving-money-around-to-pay-massive-tax-bill

No paywall
https://archive.is/38tRm

A court-ordered financial auditor has caught Donald Trump quietly moving $40 million from the Trump Organization into a personal bank account—seemingly so the former president could pay his whopping $29 million tax bill.

Trump isn’t supposed to be moving any money around without alerting Barbara S. Jones, a former federal judge in New York tasked with babysitting the Trump Organization for its relentlessly shady business practices. But on Wednesday, she notified a New York state court about some major bank transfers that were never brought to her attention by the Trumps.

Jones described the way she discovered the Trump family company once again breaking the rules during an audit of its finances in recent months. In the run-up to the ongoing bank fraud trial that threatens to vaporize the real estate company and boot the Trumps from the business world, Justice Arthur F. Engoron ordered the company to not start shifting around funds to avoid paying what’s becoming an increasingly threatening massive penalty.

That meant the Trumps had to notify Jones anytime they moved more than $5 million out of the billionaire’s massive trust. Except they didn’t.

*snip*

[Shermann]

1. I guess he pays taxes after all!

The rich exploit many avenues to reduce their tax exposure but are often given too much credit (or blame) for avoiding taxes altogether. That's actually difficult to do if you really are generating big profits. Sure, you can engage in tax-loss harvesting one year or tax-loss carry forwarding the next, but the IRS will take a longer view and will eventually get their pound of flesh.

Death and taxes, that you can trust. Don't trust the MSM to provide a balanced view.

[gratuitous]

2. Not with his own money, of course

It's the Trump Organization's money he's using to pay taxes, not anything he has in his own pockets.

[OAITW r.2.0]

3. I see lot's of $4.999MM transfers in the future. This is BS, make the overseer the automatic authorizer......

say, $1000.00.

[Bmoboy]

4. That's why he wanted her recused.

Big surprise.

[Nevilledog]

6. Last week he wanted to call her as a witness in the fraud case.

They said she'd testify that he's been totally compliant. Judge said no because she's an employee of the court. Guessing he doesn't want to call her anymore.

[Owens]

21. It was a thinly veiled threat

[Nevilledog]

24. How so?

[PatSeg]

5. Oops!

How do you move $40 million discreetly, especially when you are under several indictments? Did he really think he would get away with it? Probably I suppose, being he has been getting away with shit his entire adult life.

[tavernier]

7. The last time I moved 40 million

Nobody noticed either.

[dchill]

8. I've certainly never had a problem doing that.

[Iggo]

25. Yep, they haven't caught me yet, either.

And they never will! Mu-ha-ha…

[moniss]

9. Come on now

I ask you the simple question. Who among us hasn't transferred 40 million behind the back of an auditor? Why this is just a simple oversight that occurred during a morning coffee and besides everybody knows that the entire family has testified that nobody really knows who runs the financial matters. Maybe this was something done by that fellow....oh, what's his name now? Never really knew him that well... let's see was it Woesel...Wiseowl..... something like that. No wait I think he was called Weaselnuts. Or was that the coffee boy?

[rubbersole]

12. Weaselnuts...ground or whole bean?

[I_UndergroundPanther]

17. Whole bean

In the hopper being ground as I type?

[iluvtennis]

10. Laws and court rulings don't apply to tfg . Judge

Engoron needs to fine him for this infraction.

[Evolve Dammit]

11. Pleeeeeze, make this SOB accountable for something substantive with repercussions. You and I would be

LOCKED the F up.

[malaise]

13. Good effin grief

Just lock up this fucking criminal
Damn!

[Diraven]

14. I'm surprised he's paying taxes at all

If he's counting on winning the election he's already said he's going to fire anyone in the IRS who doesn't swear loyalty to him and let him get away with whatever crimes he wants.

[AllyCat]

15. He should have to notify them if he moved 5 bucks.

Any of the rest of us would have been in the slammer long ago.

Lock this criminal up!!

[flying_wahini]

16. The judge should use the money to pay his back taxes first.

Since he said that’s what it was for.

[PurgedVoter]

18. Looks to me like the seperation between his buisness and himself are questionable.

I thought that a person wanted to avoid mixing their corporate money with their own money if they didn't want the liability or the ability to take advantage of corporate tax laws. When you just take money from a corporation it breaks the veil.
Piercing the corporate veil may have just sunk TFG and made everything personal for TFG. Sneaking money from your corporation is something the IRS pays very close attention to.

[Old Crank]

19. Comer will be right on it.

Holding hearings next week on how this was arranged by the Bidens.

[Old Crank]

20. So, what is the penalty?

More finger wagging?

[Martin68]

22. He's no longer invisible and invulnerable. Becoming President was a two-edged sword.

[Sanity Claws]

23. I wonder who he will blame for this

[Attilatheblond]

26. The IRS, of course.

It's their fault for making him pay taxes. Countdown to his lawsuit against IRS any time now.

[NowISeetheLight]

27. Give the Poor Guy a Break

I'm sure TFG, Don Jr, Eric and Ivanka knew nothing about this. It was just the accountants.