Trump's Jumping Property Values

[lpetrich]

On February 27, 2019, the House Oversight Committee questioned Donald Trump's former lawyer Michael Cohen. Some people organized watch parties, hoping that there would be some big revelations about the Trump business empire. It was disappointing, with the Republicans mainly bloviating about what a liar MC was -- he was found guilty of perjury for defending his former boss by lying under oath.

But late in the hearings, some Congresspeople did deliver, and one of these was a big surprise for many people: Alexandria Ocasio-Cortez. AOC’s Michael Cohen testimony questions mattered. Here’s why. - Vox
She followed up on some previous questions and she asked MC where one might learn more. He named several names.

Of course, Weisselberg, the Trump Organization CFO, came up a lot on Wednesday. His signature appeared on one of the partial reimbursement checks paid to Cohen for his hush money payment to porn actress Stormy Daniels, along with the president’s son, Donald Trump Jr. As the Daily Beast pointed out, Weisselberg was mentioned at least 35 times during Cohen’s testimony, and House Oversight Committee Chairman Elijah Cummings (D-MD) said he “probably will” bring Weisselberg and Trump Jr. in to testify.

AOC asked MC about how DT's organization valued one of DT's golf courses high for insurance purposes and low for tax purposes.

She then got to how helpful DT's tax returns might be.

“Would it help for the committee to obtain federal and state tax returns from the president and his company to address that discrepancy?” Ocasio-Cortez asked.

“I believe so,” Cohen replied.

AOC recently retweeted
Judd Legum on Twitter: "Blockbuster article which puts meat on the bones of @AOC's questioning of Michael Cohen a few months ago
Strong evidence that Trump falsified information in his taxes and/or loan documentation https://t.co/d4bicHai6O" / Twitter

Never-Before-Seen Trump Tax Documents Show Major Inconsistencies — ProPublica

The president’s businesses made themselves appear more profitable to lenders and less profitable to tax officials. One expert calls the differing numbers “versions of fraud.”

Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.

For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.

Also in New ProPublica investigation sheds light on Trump’s shady business practices - Vox

 

[Tom Sawyer]

This means that Trump either committed bank fraud or tax fraud, depending on which one of the documents he submitted was the lie. Or he's guilty of both if both documents were fraudulent.

 

[Keith&Co.]

Or he's guilty of both if both documents were fraudulent.

Well, i imagine the first time he got away with fraud, he was dazzled to learn 'these people never talk to each other!' Then saw no reason they couldn't both be a lie.

 

[Tom Sawyer]

Or he's guilty of both if both documents were fraudulent.

Well, i imagine the first time he got away with fraud, he was dazzled to learn 'these people never talk to each other!' Then saw no reason they couldn't both be a lie.

The wealthy are rarely held to account for their misdeeds. If he'd remained a private citizen, I seriously doubt anyone would have ever looked into these dealings. I also seriously doubt that his way of doing business is somehow unique and I seriously doubt that any of the other people doing the exact same thing will ever be held to account.