NY AG Letitia James drops the (civil) hammer {On Trump & Family} [9/21/2022]

Makes sense. Trump may boo hoo about this, but crying “someone took one of my many golf courses” is going to look pretty pathetic.

A Red knight.

Now, if you really want to troll Trump, take over as owner of the MaL club, and then fire him for obvious violations of company policy (i.e., not being a fraudster), then have him escorted off the premises and permanently barred.

The strict legal answer is that if TP#2* is on title as owning TrumpBlock2, than that’s the owner. The bank will have loaned the money to TP#2 to buy TrumpBlock2, and will be registered as a secured creditor on the title to TrumpBlock2

But where it gets complicated is, did TP#2 have enough assets on its own to buy TrumpBlock2 and get financing? Probably not, since it’s likely a company TrumpOrg created for the purpose of owning TrumpBlock2.

So, to get financing, one of the entities higher up in TrumpOrg likely had to give a loan guarantee to the bank.

But that doesn’t mean that higher TrumpOrg entity is on title to TrumpBlock2. The loan guarantee that it gives is a separate deal with the bank, and maybe it had to give some security against another TrumpOrg property to induce the bank to give the loan to TP#2 for TrumpBlock2. That security might be a second level credit, after the primary secured creditor for that other property.

Trump appears to have got loans in part based on his claimed net worth. I’m just speculating, but his claimed net worth may be based on a basket of all the assets that he ultimately controls, but without adding encumbrances to each one? A global guaranteee for the bank, based on his personal assessment of values of those properties. (But, there’s that little issue trusting Trump…)

I dunno. I’ve just seen articles in various news sources that say TrumpOrg properties are very tangled up. I’ve just used the Scottish helicopter case as one example of how complicated it can be.

*You’re welcome. :wink:

ETA: one last point — ownership of TP#2 is different from ownership of TrumpBlock2. TP#2 is presumably a share company, and some higher TrumpOrg entity owns the shares to TP#2. That gives that higher entity control over TP#2, but not ownership of TrumpBlock2. TP#2 is a separate legal entity, with legal personhood, and is the owner of TrumpBlock2.

Which is insane for a company that had less than 5 million in revenue last year. I just browsed some articles that showed 2.3 million in revenue for the first 6 months of 2023 and 1.07 million for the 3rd quarter, which is how I extrapolated to less than 5 million.

Note that this is total incoming revenue, not profits. In November 2023, they were on target to lose 23 million for the year.

The advertising on Truth Social is a joke, a handful of companies selling MAGA swag. Looking at today’s ads, the biggest advertiser seems to be Truth Social - they are running ads geared at DWAC shareholders.

I don’t see any path for Truth Social ever becoming a genuinely profitable company. I doubt they have a single dollar in revenue that comes from outside the MAGAsphere, all the advertisers are just fighting for their piece of the general MAGA grift.

I like the cut of your jib, sir. And I would like to subscribe to your newsletter.

The quickly dwindling pile of MAGA grift.

This is Trump. This is not a typical routine case for a bond company.

In a typical case, the bond company analyzes credit risk and needs certainty about getting its dough returned.
But this is Trump.

My prediction (made today, Thursday, one or two days before the deadline): There will be a White Knight.

It will be somebody for whom a half billion dollars is not a critical loss, but for whom personal connection to the next president of the US is worth more than a half billion. They will pay the money from an anonymous numbered bank account, and not reveal their identity.

Sure, it’s not a certainty that Trump wins the election. But the odds are fifty-fifty, and that’s a worthwhile bet for Putin, or a Saudi prince.

Today is Thursday…when is the deadline? Friday 5 pm, or Monday morning? So it’s either 24 or 72 hours till either my prediction is proved right, or I look like a fool.
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(Gee…it would be fun to set up a poll: “chappachula is a fool-vote yes or no”. I used to have a dunce cap, but it got lost in a move after college…I just googled to see if I can buy a new one, but -seriously-the link on Walmart dot com said it was out of stock, for $28.99 . So i guess I’m not alone…there must be a big demand for dunce caps. :slight_smile:
)

My question is, does the provenance of the money make a difference to the state? If it is clearly or strongly suspected to have come from some shady source, does the court have to accept it? Or can it say, no this is not acceptable.

Or can some other entity, e.g., the US State Department, block it?

Would money from some foreign source be illegal?

Barbara Jones has been set up to continue as the monitor for the Trump Organization for the next three years. At least someone will be keeping an eye on him. (On a side note, who is paying her to do this? The State of New York?)

Unless the source was under some existing sanctions, I can’t see why it would be illegal. You could argue it was a bribe, but then you could argue that for any large domestic donations as well.

This would be the biggest problem for Russia to front the money - the US government is already trying to block any cash payments they might make.

But it would be hilarious if they were to try, and get caught. Russia loses the money, Trump doesn’t get the money, and then Putin and Trump spend the rest of their lives arguing over who owes who a half a billion dollars. :smiley:

( cough ) Putin ( cough )

I believe the Trump Org. itself is responsible for paying her.

Anonymous donation to a GoFundMe account…

Putin already owns Trump. Do you pay more cash for the coffee mug you’ve owned for the last decade because it has a sad?

I posted this in The Pit:

Chubb has an office in Moscow. I don’t see any reason why the Moscow office couldn’t make an inter-company transfer to the Zürich headquarters, which could then make an inter-company transfer to the U.S. headquarters in New Jersey.

Is there a reason that wouldn’t work?

I’m pretty sure the US government could figure out such a straightforward shell game. They’ve been tracking money laundering by drug dealers for decades now, so I’m pretty sure they’ve see any dodge we could come up with.

Resolved: there is no evidence of a hive mind here.

Eh. Never mind. Preview wouldn’t work.

[Deleted] My question was largely covered above.