Joe Biden has an account.
https://www.axios.com/2023/10/18/biden-truth-social-followers-trump
Same reason as everyone else, someone paid them for it.
I haven’t followed this case as closely as some have, and I’m wondering something.
Was the issue of undervaluing part of this case as well? He continually undervalued when it came to taxes and overvalued when it came to loans, but I’ve only really heard talk about the latter. Of course, federal taxes wouldn’t be subject to New York law, but undoubtedly state taxes would be.
The matter was, rather early on, referred to the IRS and to the US Attorney’s Office, Southern District of New York, for further investigation.
Tax and/or criminal charges could yet result.
I presume the IRS/state taxes part is the main area where undervaluation would come into play.
I also think undervaluation helped to establish the “two or more sets of books” aspect of his liability under NY Executive Law 63(12) – the serial fraud part.
The damages primarily arose from Trump overstating his net worth via extensive overvaluation as the underpinnings of his Statements of Financial Condition.
And this – as we know – was in an effort to get bigger loans under more favorable terms (ie, lower interest rates).
Thanks! I remember it being discussed quite a bit (tax fraud) before and then not so much recently. Appreciate it, ignorance fought.
I would have thought that any creditor with the brains of a turtle would make him turn whatever asset into cash and pay with that.
I volunteer at a weekly free meal for the hungry. I’m pretty sure that all of our customers each already have a higher net worth than Trump, and have for years.
But that’s part of the problem. Monetary penalties don’t actually matter to Trump, because having money is irrelevant to him. If we can come up with some way to make him cease being rich, that would be something.
I thought (and I might be misremembering, there are so many freaking Trump cases to keep track of) that this aspect might have gone past the statute of limitations for such charges, but again I might be thinking of something else. 
Interesting.
While I don’t know all the relevant dates or the Statutes of Limitations on the potential issues …
Quote from article dated July 18, 2023:
In September 2022, James filed a lawsuit against Trump, his three eldest children and his company, accusing the former president of falsely inflating his net worth to secure more favorable loan terms and gain tax benefits. The lawsuit seeks $250m and several sanctions to severely curtail Trump’s business dealings in New York, including a five-year ban on acquiring real estate there. Because James’s investigation was a civil inquiry, she did not bring criminal charges against Trump, but she referred potential criminal concerns to federal prosecutors in Manhattan and the IRS.
[bolding mine]
You’d hope the article would have indicated a short fuse, if one existed only about a half-year ago.
Good question, though.
As Billy Ray Valentine (Eddie Murphy) said in Trading Places, “The best way you hurt rich people is by turning them into poor people.”
I dug this up from a couple of years ago:
Prosecutors in the Manhattan District Attorney’s Office have discussed using a section of New York criminal procedure law that they successfully applied in their sexual assault case against disgraced Hollywood mogul Harvey Weinstein to charge him with earlier conduct, people familiar with the matter said.
The section allows for the extension of the statute of limitations when a defendant has been out of state “continuously.”
I think this is what I was remembering. There’s a question about what charges might be too late and what might still be brought and it depends on if this loophole in NY law can be applied.
Apologies in general if this is a hijack; I don’t think we have a thread on potential criminal finance charges in New York yet, maybe we should.
David Cay Johnston argues that the next logical step for Trump is bankruptcy. He will still have to pay the piper, eventually. But personal bankruptcy will add further delays, pushing Trump across the Nov 5 goal line.
Trump’s Next Legal Move: Personal Bankruptcy | DCReport.org
“Conspiracy theorist Alex Jones did it two years ago. Rudolph Giuliani did it just before Christmas… Trump will tell his cultish believers that he is as rich as ever, but he was forced to seek refuge in Bankruptcy Court by the Marxist-Fascist-Corrupt-Deep State-Liberal-Radical cabal he blames for his legal woes.”
Curious about whether Trump purged himself or exaggerated when he claimed under oath to have $400 million in cash. Curious about the variety of foreign and domestic characters willing to loan him money, and what they expect in return.
I’m guessing you meant “perjured himself.” 
Ms. James intends to collect what is owed, and is prepared to seize assets to do so.
I was going to say that personal bankruptcy will not save Trump from having to pay…
But i see the article covers this. The aim is mainly to delay until the election. This makes sense.
As the article states,
Trump will tell his cultish believers that he is as rich as ever, but he was forced to seek refuge in Bankruptcy Court by the Marxist-Fascist-Corrupt-Deep State-Liberal-Radical cabal he blames for his legal woes
Well of course he’ll spew this. But will ALL of his cult buy it? Or will it peel off even 5%, which will definitely sink his election chances? This is the calculation Trump is currently making, IMO.
.
I assume it’ll discharge ‘regular’ debts, thereby freeing up some cash for the legal debts.
On that note, do you have to pay income tax on debts discharged due to bankruptcy?
I know, for example, if you call up your credit card company and tell them you’re not going to be able to pay the $10,000 you owe and they settle for $3000, you have to pay income tax on the $7000 no longer owed. It is, essentially, income now.
His deal with DWAC required him to post first on Truth Social before any other social media site. He could then post the same comment to twitter/x/Facebook/whatever six hours after posting to TS. So, not counting being banned, he was always able to post to Twitter, just delayed 6 hours. But that exclusivity clause with DWAC ended in June 2023 and in August he posted his mug shot to his X account. So yeah he’s staying with TS to keep the value up.
Since TS barely topped $1 million in revenue last quarter, it feels likely he will dump his holdings as soon as the lockup period expires, which according to the WP article, is 6 months after they go public. Even if TS loses 90% of its valuation by then, that’d be just about enough to cover the $450 million.
Wait, people think TS really has a value of 2500x its annual gross revenue?!? I know tech stocks are goofy, but that’s ridiculous.
I don’t think you’ll get far questioning the rationality of any stock price, let alone one as stupid as this one.
I’ll help you get elected (again) and you drop out of NATO.
So Europe.