Tag Archives: Trump Organization

Trump Org Subpoenaed In Two NY Tax Fraud Cases

The New York Times reports: Two separate New York State fraud investigations into President Trump and his businesses, one criminal and one civil, have expanded to include tax write-offs on millions of dollars in consulting fees, some of which appear to have gone to Ivanka Trump, according to people with knowledge of the matter. The inquiries — a criminal investigation …

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Trump To Face Crumbling Business After Leaving WH

The Washington Post reports: When Trump leaves office next year, he will return to a business that is facing significant financial and legal difficulties. Some of Trump’s best-known properties have struggled since he took office, according to records obtained by The Washington Post, as his divisive political rhetoric drove away the big-spending urban customers and nonpolitical conferences his businesses relied …

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Deutsche Bank Seeks To Dump Trump After Election

Reuters reports: Deutsche Bank AG is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior bank officials with direct knowledge of the matter. Deutsche Bank has about $340 million in loans outstanding to the Trump Organization, the president’s umbrella …

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NY AG Gets Docs In Trump Org Tax Deduction Case

Bloomberg News reports: A former land-use lawyer for Donald Trump’s company was ordered by a New York judge to hand over hundreds of documents to state officials investigating whether the president’s real-estate business falsely reported property values to get loans or tax benefits. Charles Martabano went too far in asserting attorney-client privilege over documents relating to his past work for …

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Lobbyists Have Spent $13.7M At Trump Properties

CREW reports: CREW estimates that special interests seeking to gain favor with the administration have likely spent more than $13 million at President Trump’s businesses since he took office. These groups — many of which spend heavily to lobby the federal government for favorable policies — have learned that holding lavish events at Trump properties is part of the cost …

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WaPo: Trump Organization Faces Looming Debt Crisis

The Washington Post reports: At President Trump’s hotel in Chicago, the most recent board meeting began with bad news. This year’s numbers were awful. Revenue had plunged. The hotel was just 24 percent occupied. And worse: The hotel expected next year to be bad, too. In fact, the hotel’s managing director, Gabriel Constantin, said the coronavirus pandemic had hurt the Trump …

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Trump May Sell Estate At Center Of NY Tax Probe

The Wall Street Journal reports: The Trump Organization is considering selling its sprawling Westchester, N.Y., estate, according to people familiar with the matter, after years of unsuccessful development attempts that ended with an agreement to preserve part of the property. The New York attorney general’s office has said it is examining whether any benefits Mr. Trump received from that agreement …

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Trump Faces Avalanche Of Post-White House Lawsuits

Business Insider reports: Donald Trump is likely to face a litany of federal investigations if he loses to former Vice President Joe Biden next month. He may also be indicted for his role in covering up hush-money payments to Karen McDougal, a plot that sent his former lawyer Michael Cohen to prison. Norm Eisen, a senior fellow in governance studies …

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Trump Spawn Funnel US Money Into Daddy’s Pocket

And in three weeks we can end this grifting: Eric Trump took his Secret Service agents to Trump golf courses in Scotland, as he led transatlantic tours for paying customers. Donald Trump Jr. took his protectors to the Trump hotel in Vancouver, stopping over on hunting trips to Canada. And Ivanka Trump took her Secret Service detail to the Trump …

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Eric Trump To Testify Before New York AG On Monday

NBC News reports: President Donald Trump’s son Eric is scheduled to speak via video on Monday with New York state investigators probing his family’s business practices, according to court papers filed Friday. Eric Trump has given no indication he will seek to delay the interview in light of his father’s and stepmother’s coronavirus diagnosis, which was announced early Friday, or …

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BREAKING: NYT Acquires Years Of Trump’s Tax Returns

The New York Times reports: Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750. He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made. As …

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New York AG: Eric Trump Lied About Deposition Dodge

Bloomberg News reports: President Donald Trump’s son Eric gave a judge a “false” explanation for why he backed out of a July deposition in a civil probe of the family business, New York’s top law enforcement officer said in a court filing. After New York took legal action in August to enforce a slate of subpoenas, Trump’s lawyer said his …

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Trump Registered His Corporate Trademark In Cuba To Build Resorts After Vowing Not To Do Business There

The Miami Herald reports: Despite earlier promises in Miami that he would not do business in Cuba until the island was “free,” Donald Trump applied in 2008 to register his Trump trademark in the Caribbean nation for a variety of commercial activities, including investing in real estate, hotels, casinos and golf courses. A search of the Cuban Industrial Property Office …

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Trump May Face Tax Fraud Investigation, DA Says

The New York Times reports: The Manhattan district attorney’s office, which has been locked in a yearlong legal battle with President Trump over obtaining his tax returns, suggested for the first time on Monday that it had grounds to investigate him and his businesses for tax fraud. The assertion by the office of the district attorney, Cyrus R. Vance Jr., …

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Michael Cohen To Launch Podcast Titled “Mea Culpa”

The Wrap reports: Former Trump lawyer Michael Cohen will be releasing a podcast titled “Mea Culpa.” It premieres Sept. 14. Like the book he dropped Tuesday, “Disloyal,” it will review his time spent with President Donald Trump. The weekly podcast seeks to “dismantle the Trump legacy,” according to its Apple Podcast’s landing page. The podcast is being produced in partnership …

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Court: Trump Inauguration Lawsuit May Continue

NBC News reports: A judge denied a bid Wednesday to dismiss a lawsuit alleging that President Donald Trump’s inaugural committee and the Trump Organization misused nonprofit funds to enrich the president’s family business. The suit, brought by Washington, D.C., Attorney General Karl Racine in January, alleges that the president’s inaugural committee was aware that it was being overcharged for services …

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Forbes: Trump’s Net Worth Fell $600M In Last Year

Forbes reports: It has been a tough year for President Trump. On top of impeachment and the pandemic, his net worth has dropped an estimated $600 million since last September, to $2.5 billion. That puts him at No. 339 on The Forbes 400, down 64 spots from a year ago. Blame the coronavirus, which has battered not only the president’s …

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Vancouver Trump Hotel Files For Bankruptcy, Will Close

CTV News reports: It appears the days of having the controversial Trump name emblazoned on a prominent hotel tower in downtown Vancouver are coming to an end, with a staff member at the Trump International Hotel confirming Friday that the hotel is closing. The hotel on Georgia Street between Bute and Thurlow has been controversial for its name since opening …

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White House Threatens WaPo For Trump Org Reporting

The White House has responded to new Washington Post reporting on how Trump is spending millions in public money on visits to his properties. In response to questions for this report, White House spokesman Judd Deere said in a statement that Trump has “turned over the day-to-day responsibilities of running the company though he was not required to, [and] has …

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Trump Org Has Snorted Up $2.3M In 2020 Donations

Forbes reports: Donald Trump continued to shift money from his donors to his business last month, as his reelection campaign paid his private companies for rent, food, lodging and other expenses, according to a review of the latest Federal Election Commission filings. The richest president in American history, who has yet to donate to his 2020 campaign, has now moved …

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