Thread: Judge unseals $250 Million tax fraud case involving Trump projects

DEALS & DEALMAKERS

Judge unseals $250M tax fraud case involving Trump projects

• BY REW
• • JULY 14, 2016

A Manhattan judge has just unsealed documents in a civil tax fraud case connected to Donald Trump’s real estate projects. The lawsuit points to an alleged conspiracy to launder $250 million of profit from projects such as Trump SoHo in New York City. It named Felix Sater, a former Trump senior adviser who has an earlier conviction for stock fraud, Sater’s firm Bayrock Group and law firms Kramer Levin, Roberts & Holland and Duval & Stachenfeld as defendants.

“This is an important case because it not only exposes how Bayrock, while developing Trump SoHo in New York, Trump International in Fort Lauderdale, and Trump Camelback in Phoenix in association with Mr. Trump, took advantage of Delaware secrecy to arrange to siphon most of the profits out of the country untaxed, it also exposes how major law firms were willing to facilitate it,” said Frederick Oberlander, one of the lawyers representing the State’s claim.

Trump is currently considered a material witness and has not been found culpable. However, state representatives said that new information “may significantly change that calculus.”

“Mr. Trump gave his consent to the transaction after receiving a full set of documentation which made clear that without it the deal would not go through.

The extent of his involvement and any culpability will become clear in the course of the case. At this time, it seems that he benefited indirectly as a partner alongside Sater and Bayrock,” said attorney Richard E. Lerner.

The suit claims that Bayrock tried to avoid paying $100 million dollars in state and federal income taxes.

The company was said to have done so by bringing in a foreign partner that they hid behind a Delaware shell company. This allowed Bayrock to disguise the profits given to the foreign partner as debt repayments to a US lender.

The lawsuit been kept under seal since it was filed. It is now before New York State Supreme Court Judge James d’Auguste.

Trump himself is facing a separate lawsuit in New York State over Trump University. The case, which started in 2013, accused Trump of defrauding people through real estate seminars that cost thousands of dollars to attend. That lawsuit unfolded as a federal lawsuit was being argued in California. That case became controversial because of Trump’s racially-charged comments against US District Court Judge Gonzalo Curiel.

http://rew-online.com/2016/07/14/jud...rump-projects/
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Perhaps a better job at vetting Trump could have been done.

Cruz was the only other wall builder, only after Trump promoted it. Cruz could not acquire a national following.

We are dealing with hillary or trump, unless something very damaging comes up to either between now and Nov - they understand each other well. Would rather trump for 4 yrs than the sleazeball incompetent in bed with muslims as the clintons are. Very important - look at Paris & other EU nations, Bataclan disaster, bombing on their nat'l holiday. We do not want muslims here in big numbers to pull their crap in the USA. We do not want to be part of spreading islam & terror. The clintons are part of that - hillary's right hand person, Huma's mother ,is head of the muslim sisterhood. The clintons have accepted hordes of money from the muslims. We have had enough of that with O.

Trump has a nice family but we are not electing them nor would want to. They are privileged kids & should not be speaking of political things.

Trump is a hard core businessman, he will avoid taxes etc if he can - as does exxon, monsanto, goldman sacks etc, etc, etc.
The idea is to use his prowess to our advantage internationally & building our economy for American citizens' benefit. His concept of USA first is proper reason to be elected over incompetent benghazi hillary and rapist bill.

Worrisome is the dirty energy slant and what he would allow & hold back progress to clean energy; e.g, pipelines everywhere, fracking rigs everywhere etc. The environmentalists will come out heavy against him unless he adopts a course of balance between yesterday & today.

Still better than open borders hillary. Trump would still have to deal with a congressional body unless he chooses lawlessness like O has.

Trump University lawsuit closer to trial

Trump is a witness not a defendant. I'm sure politics will try to persuade opinions otherwise, but Trump hasn't done anything wrong in this tax case they're talking about. At least not that they can prove so far.

Trump is currently considered a material witness and has not been found culpable. However, state representatives said that new information “may significantly change that calculus.”

“Mr. Trump gave his consent to the transaction after receiving a full set of documentation which made clear that without it the deal would not go through.

The extent of his involvement and any culpability will become clear in the course of the case. At this time, it seems that he benefited indirectly as a partner alongside Sater and Bayrock,” said attorney Richard E. Lerner.

If he gave his consent after receiving full documentation and made it clear deal would not go through without it, his status as a witness will be short-lived. Keep in mind, his intent is to pay little or no taxes if possible. Lawyer$, lawyer$, lawyer$.........Trump U is a pimpel compared to this hemroid.