I’m struggling to see this

Ivanka Trump will be pushed to testify about alleged corruption within her father’s business practices as part of a civil fraud investigation into the Trump Organization.

Ms Trump and her brother, Donald Jr, were issued with subpoenas by New York’s Democratic attorney general Letitia James, who is probing whether the former president and his company fraudulently inflated the value of assets to secure loans or minismed them to get tax benefits.

Is there actually some law that says that assets must be equally valued for different purposes? The definitions of profit, possibly even revenue, differ between taxman and bank after all.

Or is this just someone D going after the Trumps?

14 thoughts on “I’m struggling to see this”

  1. It’s NY, again, so.. Yes?
    Some people are obviously pulling all the stops to go after mr. Orange and his imperium, because.. Fear, I guess? The long run-up to attempt to make something stick so he can’t re-run?

    Even to peeps like me who are not a fan of Trump it’s blatantly obvious he’s being put under an amount of scrutiny that’s unprecedented and quite vindictive. And certainly not applied to, say, the Clintons, or the Bushes, or for the more nostalgic.. the Kennedy’s.

    And if they don’t want Bush back, it’s downright stupid to do so, as it keeps him in the News and relevant, and has a good chance of riling up the peeps that got him in the Oval office last time into doing a repeat performance.
    Or maybe that’s what they really aim for. Set up Trump to derail whoever the Reps are lining up, while at the same time preparing to launch saintess Obama for the next one.
    Sounds paranoïd, but the pretty obvious behind-the-scenes scuffles of the US-ian Clans-in-Chief do resemble the …intricacies… of the imperial Byzantine court of old.
    As do more aspects of (current) US politics. Not Pretty.

  2. Ugh.. Do not attempt to proofread before your first coffee is finished..
    And I want that edit button..

    “And if they don’t want Trump back”…

    Bad Grik, No Bikkie.

  3. Yes, their fallacy is to pretend that a valuation designed to obtain the maximum benefit over time is the same as the valuation assuming rapid disposal.

  4. Obviously, it is a crock of shit. They are clearly scared he’s going to run again.

    There is no intrinsic value to any asset. The value of a real estate asset – unless a sale price is agreed – is a matter of opinion. In the case of a bank loan, the mere fact of the loan means the value of the asset has been agreed by the bank. If that is a stupid valuation, it is not the borrower’s problem.

    Likewise, in the case of a valuation for tax purposes, if the tax authority accepts the value ascribed by the owner, then that value is valid.

  5. Mmm…surely any lender uses an appraiser that they employ rather than accept the borrower’s evaluation? OK, for my last mortgage, the surveyor sent round by the bank asked me how much I thought the house was worth but that was easily verifiable by a swift look at Right Move.

    Given that tax authorities have the ability to cross-check filings from different people/entities etc, it would be foolish to supply different numbers in different contexts. In any case, for tax purposes, the basis is often the lower of cost and net realisable value. A prudent lender would obviously tend to loan a lower amount than either value. Admittedly US banks have been known to lack caution and they might be lending on a work in progress but the conjecture seems unlikely. Perhaps it is even a vexatious waste of everyone’s time like much of the output of the Democrats

  6. Ms James campaigned for election as NY Attorney General on the promise to get Trump. She said she would put every thing Trump ever did in NY under the microscope and being this is the US, she will surely find some technical infringement she can hang on him. (And hang him on.)

    Just another day in the ‘rotten, corrupt, evil’ US justice system as Mark Steyn puts it.

    Once they go after you, they get you. I believe the Federal system has a 99% conviction rate.

  7. “fraudulently inflated the value of assets to secure loans or minismed them to get tax benefits”

    Heads I win, tails you lose.

  8. Ms James’ civil probe . . .

    Is this government official (Attorney General of New York State) operating in a private capacity as a victim or legal representative thereof, or does a civil action have a different meaning across the pond?

    Are they any actual victims of this supposed “civil fraud”?

  9. If you own a small interest in a private entity and have it appraised, likely the appraiser will apply both a liquidity discount due to the difficulty of selling non-traded shares and a minority discount for not having a controlling interest – ie, 51% is worth a lot more than 49% because you are now clearly in control – often called a “control premium”. The liquidity and minority discounts might well total from 30-50% off the appraised value of the entity as a whole.

    An entity might be appraised at $100M, which is the value a bank would probably use to assess granting a loan, but a 20% share or 1/5th might well be appraised at closer to $10-12M. This is very common.

  10. The entire reason why you probably believe the Proud Boys are a “white supremacist terrorist organization” is because people like Letitia James are controlling New York’s legal system. Exhibit A: https://justiceforliberty.com

    So yes, it’s simply a D going after an R in a blue state yet again.

  11. @rhoda klapp

    Nope, the FBI and their ilk simply did what they could to infiltrate and sully their reputation. And before anyone calls this a conspiracy theory, you can look at this video footage to see the kinds of stuff our government does to manufacture incidents: https://www.youtube.com/watch?v=-xcKz500EQU

    And if you’re skeptical of a random YouTube video, this article should just about confirm it: https://apnews.com/article/arrests-riots-capitol-siege-gun-politics-us-customs-and-border-protection-f35fb9ad54ac0babf710e87eaec8a4b1

    Back to the Proud Boys…They started as a simple half-serious club for men to join so they could meet up at bars for drinks and general tomfoolery. As founder Gavin McInnes put it, it was a callback to the days of men’s clubs like the Shriners (which my great-grandfather actually belonged to) and Elk’s Club. Although there’s nothing wrong with that, and they even created “Proud Boys Girls” as an option for women, the 2015/2016 media class couldn’t be okay with anything remotely celebrating men, so it was immediately branded “sexist,” “anti-semitic” and “white supremacist.” They didn’t care that there have never been any restrictions on racial or ethnic groups, or on gay or queer individuals who might want to join. The only requirements were that you are a man, that you like the Western World (i.e., you don’t burn American flags and destroy historical artifacts) and you go through initiation (i.e., allow five guys to punch you lightly until you can name five breakfast cereals). The only political restrictions are that they do not allow actual white supremacists or similar ideologies in the organization. Because of the Proud Boys being a…proud…and boisterous group, they tend to be fairly Republican and pro-Trump, but there was never any restriction on moderates or liberals who aren’t dicks about it.

    However, AntiFa began to see there was a right-of-center group gaining popularity, and they decided to show up unannounced to PB events to start and instigate physical altercations. Any conservative event that takes place in cities like New York often needs to change the venue, even multiple times day of, to make sure AntiFa doesn’t attack. These attacks can be anything from fistfights to beating people with metal poles. Basically the same people who set fire to UC Berkeley when Milo Yiannopolous was invited to speak. Mind you, I’m one of the few who know people who are involved with several of these different organizations, so I’m not talking out of my ass here.

    Here’s Gavin himself discussing the synthesis of the Proud Boys by-laws: https://www.youtube.com/watch?v=lPpb-nfQW_8

    ^ This is the very lecture after which John Kinsman, a Proud Boys attendee, was pursued by Letitia James and then-up-for-reelection-Governor Cuomo, so they could send him to prison for four years. A prison term he is still serving to this day. Even though he is married to an African-American woman, the local press was sure to keep her off camera, and the judge compared his 17-second fistfight with AntiFa (who didn’t even press charges) to Germany in the 1930s. Cuomo and Mayor DeBlasio now had their artificial scapegoat and another piece of political leverage to further bash Trump in the media.

    As Gavin says in the video, the Proud Boys’ motto is “We don’t start fights, we finish them.” Any use of physical violence on their part is only allowed as a means of self-defense. Pretty much the kind of behavior you saw from Kyle Rittenhouse, although the PBs might be more vocal toward opponents as they believe pretty aggressively in Free Speech. You may disagree with Proud Boys or their strategy but, unlike AntiFa and other such groups, the PB code of conduct doesn’t advocate for the breaking of laws or endangering of civil rights.

    There have been one or two occasions where white supremacists (or “groypers”) have attempted to join the PBs. The minute they were found out, they were kicked out. Anyone who knows about white supremacists in the U.S., such as David Duke or Nick Fuentes, knows that these types of people are sleazy drifters who only seek to sow division in preparation for the “great race war” and will associate with groups on both sides of the aisle in order to gain or maintain some semblance of relevancy. That’s why David Duke switched between supporting Trump and supporting Biden, etc.

    Here’s a video interview with Gavin’s friend Anthony Cumia on Joe Rogan’s podcast, in which he discusses the origins of the Proud Boys as an organization: https://www.youtube.com/watch?v=TFaK6N5mz2U

    Now, once the Democratic Party, AntiFa, the mainstream media and the elitists in Washington saw that Proud Boys were not letting rioters beat or murder them, and were instead fighting back in self-defense, the political swamp used every trick in the book to smear the group, which is why Trudeau’s Canada now considers them a “terrorist organization.” That’s likely because McInnes was born and raised in Canada, and Trudeau needs to make sure there are no moderate conservatives getting associated with his country. Even when no actual PB members attend an event (such as the “Unite the Right” rally in Charlottesville, which McInnes expressly told members NOT to attend beforehand), anyone who “looks the part” is considered an adherent. Once this kind of national attention began to blow out of proportion, McInnes eventually parted ways with the group, although he continues to advocate for the civil rights of conservatives and raise money for imprisoned PBs. He also checks in with the families of the few members who are incarcerated.

    A black, Cuban-American man named Enrique Tarrio eventually became the national spokesperson and leader of the Proud Boys. He obviously isn’t a white supremacist or anything-else-ist, but he also has gotten into a bit of mischief. He was in Washington, D.C. during the January 6th riot, and he was illegally carrying firearms. There were also rumors of Tarrio being an FBI informant. Although McInnes never advocated for illegal activity, he’s already been put through the media and government-surveillance machine enough times to be distrustful of the feds. McInnes did interview Tarrio at one point on his podcast, in which the latter concocted an excuse about the informant status resulting from a past pre-PB incident, but McInnes openly opined that he finds Tarrio to be highly suspicious.

    This is all just scratching the surface. I could also tell you about the Showtime series Ray Donovan devoting an episode to caricature Gavin McInnes and the Proud Boys, depicting their meetings as a scene straight out of American History X. As you can see in the video above, Gavin’s lectures are more like a conservative Bill Maher monologue. I could also tell you about the Anti-Defamation League (ADL) and Southern Poverty Law Center (SPLC) spreading libel about what the Proud Boys are all about. McInnes has been involved in a pretty intense lawsuit with the SPLC because of that.

    But the moral of the story is, even in a country with the First Amendment, the media and the government will stop at nothing to crush dissent.

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