Life Style

What happens if the Trump Organization is found guilty of fraud?


The Washington Post’s David Fahrenthold appeared on MSNBC Monday to address the demand by Trump Organization attorneys to not to file charges against the former president’s business. There was a major deadline Monday for Trump’s lawyers to give some kind of evidence that could get them out of criminal charges over the organization’s financial dealings.

While many are angry about the tip for the Trump Org., it isn’t unheard of that the prosecutors would give a final option to a company like this, explained New York Law Professor Rebecca Roiphe. It happens more often in white-collar cases.

But it was Fahrenthold who walked through what life without the Trump Org. would look like if the company is found to have cheated on its taxes or committed fraud by artificially inflating or deflating its assets.

“Not merely being indicted is going to change that much, but if they plead guilty to any of these crimes, there is a number of implications, the banks could call in the loans and the liquor licenses as the golf clubs and hotels, they could call in the liquor licenses, because companies with felony charges cannot own a liquor license,” he explained. “So it could have implications for companies that are nowhere near New York could not have a liquor license.”

The news about the loans could be a startling problem for Trump, who is at least $1 billion in debt, according to a Forbes investigation.

“The loans are spread out over more than a dozen different assets — hotels, buildings, mansions and golf courses,” said the 2020 report. “Most are listed on the financial disclosure report Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not.”

See also  Mo Brooks throws Trump under the bus in response to lawsuit accusing him of inciting MAGA mob

At least $900 million of those loans are coming due before 2024. According to Fahrenthold, if guilty, that cash could be demanded the moment the Trump Org. is convicted.

You can watch the video below via YouTube:



Source link

Good Ads

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please Disable AdBlock