Showing posts with label money laundry. Show all posts
Showing posts with label money laundry. Show all posts

Tuesday, December 12, 2023

Where's the Victim?

 

I'm feeling a nagging dissatisfaction with the conduct of the New York lawsuit against Trump, his older sons, and the family business over the flagrant fraudulence of their financial "disclosures", which report wildly exaggerated values for their assets as a way of getting banks and insurance companies to get them better rates than they could otherwise get.

It's not anything wrong with the case, or any likelihood that New York will lose the case, I'm feeling very cheerful about that, but the way Trump and his attorneys seem to be playing the publicity war: 

In defiant and rambling testimony on [November 7], Trump acknowledged that his asset valuations were sometimes inaccurate but said they were not relevant to banks and insurers.

Trump's lawyer Christopher Kise built on that argument on Thursday, saying banks that did business with the Trump Organization profited from the loans.

"There's no victim. There's no complainant. There's no injury. All of that is established now,” Kise said. (Reuters)

And all the New York lawyers can say is response is that they don't have to prove there was a victim. Or the statutes were the victims ("I would just basically point out," Judge Engoron said, "that the mere fact that the lenders were happy doesn't mean that the statute wasn't violated. It doesn't mean other statutes weren't violated.") "Help, I'm being violated!" cried § 175.10. Which is no doubt true from the legal standpoint, but it's just an awful look. No harm, no foul, right? If the banks are happy with it, where's the harm?

Can't we please come up with a better argument than that?

Sunday, March 10, 2019

Timelines: A Buried Lede

Image via Irish Examiner.

Here's a peculiar one, brilliantly reported by Christina Willkie at CNBC (but not so well edited, the story is extremely hard to follow), about one of the more purposeless-sounding lies Paul Manafort told prosecutors when he was pretending to cooperate after the first trial, about the origins of a payment of $125,000 that went to one of his lawyers in June 2017.

The money was obtained, it seems, from an old comrade called Laurance Gay who Manafort had put in charge of the Tom Barrack–created superPAC Rebuilding American Now (where he seems to have done exceptionally well, raising $24 million, the best performance of any Trump superPAC, though three quarters of the money came from just four donors—wrestling entrepreneur Linda McMahon for $6 million; Home Depot co-founder Bernard Marcus for $5 million; Hollywood real estate tycoon Geoffrey Palmer, not previously a well-known donor, though his experience in campaign money laundering goes back to 1991, for another $5 million; and the Arkansas poultry magnate Ronald Cameron, whose experience with campaign money laundering through his "Jesus Fund" is very extensive, for $2 million).

Gay got it from a company, Multi Media Services Corporation, or MMSC, which earned $19 million as the chief ad buyer for the Trump campaign, and whose silent owner turned out to be Tony Fabrizio, another old Manafort associate and the Trump campaign's main pollster, with whose company Gay had a slightly dodgy-sounding relationship:

Saturday, July 29, 2017

For the record: Cons and Fusion





Well, no, not exactly. Or at all, come to think of it. Bill Browder's testimony to the Senate provided no information we didn't already have, and had no bearing one way or another on who Russia supported in the 2016 election, probably, but Trump might do better to avoid the question (which is one of those things the press can't talk straight about, because it involves some unreported speculation, but I can).