Comment
Comment
re: #173 Joe Bacon ✅
And Now…This…
Trump’s $50 Million Mystery Debt Looks Like ‘Tax Evasion’
Donald Trump has long claimed he personally owed tens of millions to an obscure entity related to his Chicago tower. But court docs claim Trump Org. now says it never existed.
Always read the footnotes.
That’s where former federal judge Barbara Jones, the court-appointed special monitor in Donald Trump’s New York business fraud case, just planted a financial bombshell that legal experts say suggests Trump lied knowingly and repeatedly on his federal financial disclosures about a major loan that never existed—and may have evaded taxes on $48 million in income.
The detail came in a letter Jones filed on Friday to update New York Judge Arthur F. Engoron, first reported by The Messenger, on her efforts to get a full and clear accounting of the Trump Organization’s assets. The letter claims, yet again, that Trump and his company have filed statements containing inconsistencies and errors, but have been “cooperative” in the review process.
But Jones tucked a major revelation into footnote 6, writing that a massive chunk of debt Trump has claimed to owe one of his own companies for years apparently does not exist, and never did.
“When I inquired about this loan, I was informed that there are no loan agreements that memorialize the loan, but that it was a loan that was believed to be between Donald J. Trump, individually, and Chicago Unit Acquisition for $48 million,” Jones wrote, referencing the name of Trump’s LLC that held his debt.
“However, in recent discussions with the Trump Organization, it indicated that it has determined that this loan never existed—and thus that it would be removed from any upcoming forms submitted to the Office of Government Ethics (OGE) and would also be removed from subsequent versions of [corporate financial statements],” Jones wrote.
If true, that would essentially be an admission from the Trump Organization that all the financial disclosures Trump has filed with the federal government listed an entirely fictional debt worth tens of millions of dollars, which Trump claimed he personally owed to one of his own companies.
Asked to comment on Jones’ letter, Alan Garten, chief legal counsel for the Trump Organization, told The Daily Beast that her claim—that the company confessed to the loan never existing—was inaccurate and the loan did in fact exist.
“That’s one of many inaccuracies contained in the monitor’s letter, which we will be addressing with the court,” Garten said in a phone interview.
Moreover—in contradiction to the ex-president’s own statements about the mystery loan—Garten repeatedly insisted that the LLC actually owed the money to Trump. Asked to confirm the loan, Garten replied, “Yes, the loan existed,” specifying that it was “an internal loan” where Trump “leant money to the entity that he owns.”
Yet all of Trump’s financial disclosures, including his most recent amended version approved by the OGE last October, clearly state that it was Trump who owed Chicago Unit Acquisition LLC. He’s consistently listed his debt as more than $50 million, in the form of what’s known as “springing loan”—a loan with unfavorable terms to the borrower.
Offs this is simple
show the dox from the original funding
You moved the money or you didnt
Oh and any repayments made ? Ever?
of course not
