# Steve Bannon arrested in alleged fraud scam linked to border wall **URL:** \ **Category:** Politics & Elections\ **Created:** [August 20, 2020, 2:08pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585 "2020-08-20T14:08:07Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![rocking\_chair](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rocking_chair/32/2918_2.png) [@rocking\_chair](https://boards.straightdope.com/u/rocking_chair)\ **Post date:** [August 20, 2020, 4:36pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/41 "2020-08-20T16:36:42Z")
I may have hurt something during my schadenfreude dance… steve mb, thank you for that earworm, I may make that the official lyric of my dance. ---
**Author:** ![E-DUB](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/e-dub/32/403_2.png) [@E-DUB](https://boards.straightdope.com/u/E-DUB)\ **Post date:** [August 20, 2020, 4:47pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/42 "2020-08-20T16:47:52Z")
Their greed will be their undoing. All of them from Bannon to LaPierre to Insert Evangelical Pastor’s Name Here to Parscale. They can not be entrusted to oversee large sums of money without skimming some off for themselves. trump himself is, of course, no different. ---
**Author:** ![Gyrate](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/gyrate/32/3588_2.png) [@Gyrate](https://boards.straightdope.com/u/Gyrate)\ **Post date:** [August 20, 2020, 4:54pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/43 "2020-08-20T16:54:54Z")
> [@Left\_Hand\_of\_Dorkness](#): > > This is part of the long tradition of Trump-adjacent scammers giving themselves names straight out of a 1960s DC Comics Hall of Villains. “White Knights & Vultures LLC”? Are you shitting me? In the interest of being generally informative, both are terms from the world of finance. From Investopedia: **White Knight:** “A white knight is a hostile takeover defense whereby a ‘friendly’ individual or company that acquires a corporation at fair consideration that is on the verge of being taken over by an ‘unfriendly’ bidder or acquirer, who is known as the black knight. Although the target company does not remain independent, acquisition by a white knight is still preferred to the hostile takeover.” **Vulture:** “A vulture capitalist is an investor who seeks to extract value from companies in decline. The goal is to swoop in when sentiment is low – and the company is trading at a rock bottom price – and take whatever action is necessary to engineer a quick turnaround and sell it on for a profit.” Both approaches involve scooping up struggling companies. ---
**Author:** ![peedin](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/peedin/32/14095_2.png) [@peedin](https://boards.straightdope.com/u/peedin)\ **Post date:** [August 20, 2020, 5:04pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/44 "2020-08-20T17:04:37Z")
I hate that greasy fatfuck. Hope he serves the maximum. ---
**Author:** ![Pardel-Lux](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pardel-lux/32/20182_2.png) [@Pardel-Lux](https://boards.straightdope.com/u/Pardel-Lux)\ **Post date:** [August 20, 2020, 5:08pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/45 "2020-08-20T17:08:36Z")
This is an actual quote from [the Independent](https://www.independent.co.uk/news/world/americas/us-politics/steve-bannon-charge-wire-fraud-money-laundering-trump-news-today-a9679976.html): “_Mr Trump then addressed the arrest and indictment during a press pool._ _“I haven’t been dealing with [Mr Bannon] for a very long period of time,” Mr Trump said. “… Haven’t been dealing with him at all.”_ _He added: "I don’t like that project. I thought it was being done for showboating reasons. It was something I very much thought was inappropriate to be doing. "_” So, in a nutshell, he does not really know him. ---
**Author:** ![Sage\_Rat](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sage_rat/32/399_2.png) [@Sage\_Rat](https://boards.straightdope.com/u/Sage_Rat)\ **Post date:** [August 20, 2020, 5:14pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/46 "2020-08-20T17:14:21Z")
> [@wguy123](#): > > Nevermind - I think Non-Profit-1 is code (similar to calling someone Individual-1). Why would they need to protect his fake non-profit? Maybe there are some people involved in the creation or management of the non-profit who are free of suspicion and deserve to remain so. Say that Bob, a lawyer in Wapalatza, is the person who, technically, did the work to create and submit the paperwork for the non-profit. There’s no indication that he’s crooked - he just took some money and carried out a task that he had every reason to believe was lawful and above board, complied entirely with the Feds, giving them everything they wanted, and doesn’t deserve to be tied to this matter. But, if you know the name of the non-profit, you’ll see Bob on the paperwork and it will surely harm his future. Ergo, they use an alias. ---
**Author:** ![Sage\_Rat](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sage_rat/32/399_2.png) [@Sage\_Rat](https://boards.straightdope.com/u/Sage_Rat)\ **Post date:** [August 20, 2020, 5:17pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/47 "2020-08-20T17:17:05Z")
> [@Pardel-Lux](#): > > _He added: "I don’t like that project. I thought it was being done for showboating reasons. It was something I very much thought was inappropriate to be doing. "_ ” > So, in a nutshell, he does not really know him. I think the real takeaway - since Trump doesn’t appear to have ever mentioned nor endorsed the effort in his Twitter feed - is that he wasn’t offered a cut. As such, he probably never did like it. Why didn’t he get his cut? The Wall was his big idea! ---
**Author:** ![mikecurtis](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mikecurtis/32/3284_2.png) [@mikecurtis](https://boards.straightdope.com/u/mikecurtis)\ **Post date:** [August 20, 2020, 5:17pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/48 "2020-08-20T17:17:12Z")
> [@Sage\_Rat](#): > > But, if you know the name of the non-profit, you’ll see Bob on the paperwork and it will surely harm his future. If you sleep with dogs you’ll end up with fleas! ---
**Author:** ![Pardel-Lux](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pardel-lux/32/20182_2.png) [@Pardel-Lux](https://boards.straightdope.com/u/Pardel-Lux)\ **Post date:** [August 20, 2020, 5:18pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/49 "2020-08-20T17:18:13Z")
It took me a while and several other comments to understand the depth your post, but now I can only tip my hat in awe. Kudos! ---
**Author:** ![Icarus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/icarus/32/72_2.png) [@Icarus](https://boards.straightdope.com/u/Icarus)\ **Post date:** [August 20, 2020, 5:19pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/50 "2020-08-20T17:19:34Z")
> [@Pardel-Lux](#): > > I thought it was being done for showboating reasons. Translation: “I’m the only one allowed to showboat around here!” ---
**Author:** ![Left\_Hand\_of\_Dorkness](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/left_hand_of_dorkness/32/7156_2.png) [@Left\_Hand\_of\_Dorkness](https://boards.straightdope.com/u/Left_Hand_of_Dorkness)\ **Post date:** [August 20, 2020, 5:20pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/51 "2020-08-20T17:20:01Z")
> [@Gyrate](#): > > In the interest of being generally informative, both are terms from the world of finance. From Investopedia: Thanks, and that helps explain why, when I googled the company name, I saw so many articles with titles that referenced both terms. It’s still a godawful name for a criminal enterprise. ---
**Author:** ![kenobi\_65](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kenobi_65/32/13178_2.png) [@kenobi\_65](https://boards.straightdope.com/u/kenobi_65)\ **Post date:** [August 20, 2020, 5:24pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/52 "2020-08-20T17:24:56Z")
Regarding “White Knights and Vultures LLC” – I’m reminded of the partnerships that Enron set up, as part of their schemes in the late 1990s. They had the Joint Energy Development Investment Limited (a.k.a. JEDI), and then they set up [Chewco](https://en.wikipedia.org/wiki/Chewco) (named after Chewbacca) to hide the losses from JEDI. ---
**Author:** ![DrDeth](https://avatars.discourse-cdn.com/v4/letter/d/b487fb/32.png) [@DrDeth](https://boards.straightdope.com/u/DrDeth)\ **Post date:** [August 20, 2020, 5:32pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/53 "2020-08-20T17:32:21Z")
My Boys! ---
**Author:** ![Gyrate](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/gyrate/32/3588_2.png) [@Gyrate](https://boards.straightdope.com/u/Gyrate)\ **Post date:** [August 20, 2020, 5:49pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/54 "2020-08-20T17:49:45Z")
It’s an odd name regardless - a white knight might be used to avoid takeover by a vulture. But then Bannon and co are pretty two-faced [sic] at the best of times. ---
**Author:** ![GIGObuster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/gigobuster/32/421_2.png) [@GIGObuster](https://boards.straightdope.com/u/GIGObuster)\ **Post date:** [August 20, 2020, 5:50pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/55 "2020-08-20T17:50:40Z")
> [@kenobi\_65](#): > > Regarding “White Knights and Vultures LLC” – I’m reminded of the partnerships that Enron set up, as part of their schemes in the late 1990s. They had the Joint Energy Development Investment Limited (a.k.a. JEDI), and then they set up [Chewco](https://en.wikipedia.org/wiki/Chewco) (named after Chewbacca) to hide the losses from JEDI. Now they should be able to use the [Chewbacca defense](https://en.wikipedia.org/wiki/Chewbacca_defense) in the court! ---
**Author:** ![Cardigan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cardigan/32/187_2.png) [@Cardigan](https://boards.straightdope.com/u/Cardigan)\ **Post date:** [August 20, 2020, 5:55pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/56 "2020-08-20T17:55:29Z")
This is New York isn’t it? I thought they passed a law several months ago closing the double jeopardy loophole for anyone pardoned by the President. > **[Cuomo signs law that allows NY to prosecute those pardoned by a President |...](https://www.cnn.com/2019/10/16/politics/andrew-cuomo-double-jeopardy-law/index.html)** > > New York Gov. Andrew Cuomo signed legislation on Wednesday that will allow the state to prosecute people who have received a presidential pardon for the same offense, which could potentially affect associates of President Donald Trump. ---
**Author:** ![nelliebly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/nelliebly/32/5422_2.png) [@nelliebly](https://boards.straightdope.com/u/nelliebly)\ **Post date:** [August 20, 2020, 6:08pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/57 "2020-08-20T18:08:32Z")
Thanks for the excellent explanation. My first thought was all the iterations of White Knight in white supremacist groups: Loyal White Knights of the KKK, Dixie White Knights of the KKK, etc. ---
**Author:** ![snowthx](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowthx/32/10660_2.png) [@snowthx](https://boards.straightdope.com/u/snowthx)\ **Post date:** [August 20, 2020, 6:10pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/58 "2020-08-20T18:10:47Z")
I hope he and his cohorts end up in a federal PMITA prison. With no conjugal visits. ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [August 20, 2020, 6:16pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/59 "2020-08-20T18:16:50Z")
> [@snowthx](#): > > I hope he and his cohorts end up in a federal PMITA prison. With no conjugal visits. - I see a contradiction here. ---
**Author:** ![Akaj](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/akaj/32/145_2.png) [@Akaj](https://boards.straightdope.com/u/Akaj)\ **Post date:** [August 20, 2020, 6:28pm UTC](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585/60 "2020-08-20T18:28:21Z")
> [@Sage\_Rat](#): > > I think the real takeaway - since Trump doesn’t appear to have ever mentioned nor endorsed the effort in his Twitter feed - is that he wasn’t offered a cut. > > As such, he probably never did like it. Why didn’t he get his cut? The Wall was his big idea! Or, he still thought he’d get Congress (or Mexico, ha) to fund the wall, and thought this effort reflected a lack of faith in his deal-making prowess. [Previous page](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585.md?page=2) [Next page](https://boards.straightdope.com/t/steve-bannon-arrested-in-alleged-fraud-scam-linked-to-border-wall/918585.md?page=4)