Why the former president’s legal net is tightening

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When Donald Trump announced plans to build a golf complex on the ancient dunes of Scotland’s Aberdeenshire coast in 2006, he told reporters at first sight. “As soon as I saw it, I had no doubts about it,” he said.It’s the world “The best golf course”..

This week, Trump International Scotland became a central element of what seemed ready to dominate his post-presidential life and could even put him behind the bar.

Local fishermen have accused Trump of being a “noisy bully” during the construction of the course.Environmentalists have warned that development will destroy natural habitats, and it certainly owes such things. damage The site is Stripped off In its protected state.

But none of this distracted Trump from his goal. Today, the Scottish complex stands as a “best luxury golf” experience filled with five-star hotels and helicopter landing pads. Bargain Membership of £ 2,595 ($ 3,518) annually.

Fifteen years later, the property has achieved tremendous results for its owners. That is, when measuring success according to Donald Trump’s unique accounting style.

He purchased Many’s 2,000 acres (809 hectares) of land for $ 12.6 million in 2006. Within a short five years, the Trump Organization’s financial statements were valued at $ 161 million, an almost 13-fold increase.

By 2014, windswept Scottish holdings were $ 436 million.

This hike caught the attention of New York State’s progressive Attorney General, Letitia James. Known For her relentless pursuit of richness and power. How the value of Scottish assets has risen meteorologically is one of the issues she is investigating in the Trump Organization’s ongoing financial research.

Letitia James, Attorney General of New York, said:  & # X002018; Donald J. Trump and The Trump Organization have found significant evidence suggesting that they misvalued multiple assets and misrepresented their value to financial institutions for financial gain. ..

Leticia James: “Important evidence suggesting that Donald J. Trump and the Trump Organization misvalued multiple assets and misrepresented their value to financial institutions for financial gain. I found. “ Photo: Richard Drew / AP

New Filing Released this week, it was designed to question Trump and two of his children (Ivanka and Donald Jr.), and how James got such a stunning praise. Is legally analyzed. A 2011 estimate of Scottish real estate discovered by her investigators included an estimated £ 75,000 of undeveloped land on the site ($ 120,000 at the 2011 exchange rate).

Upon closer inspection, I found that the figure was created for an article in Forbes magazine. The revelation prompted this week’s filing line, which must be among the toughest in US financial history.

“Thus, the Trump Aberdeen assessment used in Mr. Trump’s financial statements appears to have been prepared for the purpose of providing information in a quote to Forbes,” James wrote.

James’ legal documents are similarly full of juicy information. The 2014 value of Scottish golf clubs is partly due to the estimated selling price of 2,500 units of land, even though the house didn’t really exist and the company had only half that number of building permits. It was based.

In 1995, The Trump Organization purchased a land known as Seven Springs Estate in Westchester, New York for $ 7.5 million. It was valued at $ 80 million by 2004 and $ 291 million by 2014. In that 2014 figure, James states in another exquisite tart reference that it contains a $ 161 million valuation of the “Seven Non-Existent Mansions.”

The juicy bite of all is Trump’s former home, Golden Fifth Avenue Temple To his own ego called “Empty Versailles” where he lived before moving to the White House. Investigators James were confused that Manhattan’s Trump Tower triplex was listed for $ 327 million in 2015, based on the size of the apartment, reportedly 30,000 square feet.

In fact, the property is 11,000 square feet and is worth $ 117 million. This is an exaggeration of Trump’s official financial statements of over $ 200 million.

Attorney General of New York, Letitia James, filed a court document on Tuesday night condemning former Donald Trump's business for misrepresenting the value of many assets, including Trump Tower's apartments.

Attorney General of New York, Letitia James, filed a court document on Tuesday night condemning former Donald Trump’s business for misrepresenting the value of many assets, including Trump Tower’s apartments. Photo: Justin Lane / EPA

Such an amazing disparity is important, and James claims her 114-page filing. Financial statements containing them were used to secure loans from banks and insurance, and in other cases to reduce Trump’s tax burden.

“We have found important evidence that Donald J. Trump and the Trump Organization have misrepresented multiple assets and misrepresented their value to financial institutions for financial gain. “James said after being submitted to a court in New York.

The new material disclosed by James was so compelling that some close observers of Trumpland are now convinced that he is facing serious legal problems. Michael Cohen, a former private lawyer for Trump and a former Vice President of the Trump organization, told the Guardian: “Trump’s house is collapsing.”

Cohen, release Having had his own legal problems from house arrest in November, this game has skin. His testimony to the House Oversight Commission in February 2019 warned that Trump’s financial statement valuations were allegedly inflated, which urged James to begin an investigation the following month.

“My testimony on the Commission and subsequent cooperation with the Attorney General of New York led to today,” Cohen said. “We see individuals who constantly escape responsibility for their actions be ultimately held accountable.”

James is proceeding with her investigation as a civil suit. This means that if Trump is held liable, he may be fined and fined. More seriously, James works with the Manhattan District Attorney, Alvin Bragg, A similarly tenacious and relentless prosecutor, with a large and experienced team of investigators.

Bragg asks exactly the same question as James: Did the Trump Organization commit accounting, banking, tax or insurance fraud? The crucial difference is that Bragg’s investigation is a crime, threatening Trump in prison time rather than fines.

Timothy O’Brien, Senior Columnist at Bloomberg Opinion, said:

O’Brien also has a personal interest in this story. His book, Trump Nation, is a 2005 biography that cast doubt on Trump’s actual wealth in today’s James and Bragg research and eerie-like words, angering real estate developers by billions of O’Brien. I sued in dollars.

O’Brien’s lawyer Take testimony Trump as part of his defense. Over the course of two days, they managed to do things that were rarely done before and after – they made celebrities admit. 30 times, He lied.

“My lawyer was so well prepared that when he sat down for the deposit, we had evidence of the reality that he lied and exaggerated. I just pushed them onto the table, “O’Brien recalled.

Many of the misleading factors, such as the value of his golf club and real estate assets in New York, were virtually the same as the details contained in this week’s filing. As such, O’Brien is confident that the pattern James outlines in court documents goes a long way back.

“This is what Trump has been frankly working on since he was a baby,” O’Brien said.

The defamation proceeding was dismissed in 2009. The author was surprised that the prosecutor did not show interest, even though he revealed details of the potential fraud in TrumpNation.

“My book had enough feed for the prosecutor to pursue, but no one got it. Law enforcement did not take Donald Trump seriously until it was too late. did.”

The time has changed. Trump is no longer a reality show star from the real estate tycoon, but a former US president. Bets have increased significantly and are being scrutinized with them.

Trump has never faced two coordinated teams of sophisticated researchers who are raked up in his financial problems, as both civil and criminal accusations may be pending.

How serious the prosecutors are about nailing their guys is revealed in a sentence from James’ new filing. She writes that the investigative team is determined to find “the actual knowledge and intent of creation of the numerous misrepresentations and omissions that Mr. Trump has done on his behalf or on his behalf.”

“Intention to make” shows that James is not just thinking in line with citizens’ policies. She also anticipates criminal accusations that may require proof of the accused’s intent.

Trump, like his two children, continues to resist giving testimony because the investigation is a politically motivated witch hunt (James and Bragg are both Democrats). ). Eric, the third child of the Trump Organization’s day-to-day work, was testified. Fifth sued More than 500 times.

The family’s greatest hope is that prosecutors struggle to meet the high standards set for criminal cases. Former federal prosecutor Robert Mintz said this was especially true when it came to serious issues of intent.

“Criminal cases are more dangerous because of the potential for imprisonment, but they require criminal intent and are difficult to prove, especially in complex financial fraud involving organizations.” Mints, now a McCarter & English partner, told the Guardian.

The prosecutor must prove that Trump has deliberately and deliberately violated the law. It can be difficult – showing inconsistencies in financial statements can be juicy, but not enough.

“Large investigations are time consuming and very difficult to prove without the help of cooperating witnesses and documentation,” Mintz said. “These parallel investigations are clearly progressing, but it is difficult to predict how they will end.”