New York State Investigations of Trump and Related

[Azastan]

You don't get protection under Chapter 11 to re-organize a criminal enterprise.

That's really a shame, isn't it?

[Volkonski]

[noblepa]

The only bankruptcy available to him after a conviction would be a Chapter 7 liquidation, and I'd bet my last dollar he doesn't have enough assets selling under duress to pay off his loans. You don't get protection under Chapter 11 to re-organize a criminal enterprise.

And chapter 11 requires that you need to negotiate with your creditors and restructure the loans. I doubt if any creditors will agree to that.

Creditors can refuse to cooperate and turn a chapter 11 filing into a chapter 7 filing if they feel there is no possibility that the renegotiated loans will be repaid.

[Volkonski]

[Volkonski]

[Notaperson]

Woah. IANAL but it sounds a little more serious than we've been led to believe.

[Volkonski]

[filly]

Who is Un-indicted Co-Conspirator #1? Guesses?

[chancery]

Woah. IANAL but it sounds a little more serious than we've been led to believe.

Yes, a bit more serious than I had feared. I'm pleased that the charges are not quite as penny-ante as I had thought they would be. Happy to have been proved wrong.

I particularly like the internal spreadsheet listing all of the under the table compensation as part of direct compensation. As Aaron Reichlin-Melnick (@ReichlinMelnick) tweeted: Moral of the story: Don't "maintain internal spreadsheets" showing that the guy you are paying off the books is being paid off the books.

I'm still a little unclear on the dollar amounts, as the prosecutors keep emphasizing the amounts of federal tax evaded. Those amounts might be relevant to a collateral issue such as the magnitude of total harm caused by the conspiracy (just a hypothetical, haven't looked at the statute). However, the amount of state tax evaded is much less than the amount of federal tax evaded, and at the end of the day the gravity of Weisselberg's state law crimes will be measured primarily by the amount of state tax involved.

And the initial twitter comments suggest that Weisselberg is facing months rather than years in prison.

[zekeb]

Who is Un-indicted Co-Conspirator #1? Guesses?

Someone whose last name begins with a "T"?

[bob]

I particularly like the internal spreadsheet listing all of the under the table compensation as part of direct compensation. As Aaron Reichlin-Melnick (@ReichlinMelnick) tweeted: Moral of the story: Don't "maintain internal spreadsheets" showing that the guy you are paying off the books is being paid off the books.

As always:

[much ado]

Woah. IANAL but it sounds a little more serious than we've been led to believe.

Yes, a bit more serious than I had feared. I'm pleased that the charges are not quite as penny-ante as I had thought they would be. Happy to have been proved wrong.

I particularly like the internal spreadsheet listing all of the under the table compensation as part of direct compensation. As Aaron Reichlin-Melnick (@ReichlinMelnick) tweeted: Moral of the story: Don't "maintain internal spreadsheets" showing that the guy you are paying off the books is being paid off the books.

I'm still a little unclear on the dollar amounts, as the prosecutors keep emphasizing the amounts of federal tax evaded. Those amounts might be relevant to a collateral issue such as the magnitude of total harm caused by the conspiracy (just a hypothetical, haven't looked at the statute). However, the amount of state tax evaded is much less than the amount of federal tax evaded, and at the end of the day the gravity of Weisselberg's state law crimes will be measured primarily by the amount of state tax involved.

And the initial twitter comments suggest that Weisselberg is facing months rather than years in prison.

If Weisselberg is convicted of NY State income tax evasion, how could the IRS fail to pursue a federal indictment?

[dan1100]

At least one reporter thinks banks might start calling their loans.

[filly]

That's a good question much ado. It seems that "someone" quashed the SDNY investigation into the hush money payments after Cohen was indicted. I understand the OLC opinion says you can't indict a sitting president, but T**** is no longer the sitting president and there seem to be endless scandals that implicate him in actual crimes that the DOJ is apparently disinterested in pursuing. Which infuriates me. It's the people of the United States who were screwed by his tax evasion schemes.

I voted for Biden primarily to get T**** out of the White House. But I also voted to have a responsible DOJ and I cannot discern any meaningful action they are taking to clean the mountains of shit up.

[Estiveo]

Who is Un-indicted Co-Conspirator #1? Guesses?

Someone whose last name begins with a "T"?

[filly]

As for Jeff Conney, recall in NYS if you appear before the grand jury you get immunity for the matters you testify about (as long as you don't perjure yourself). So I guess in that sense he could be considered a co-operator.

[sugar magnolia]

That's a good question much ado. It seems that "someone" quashed the SDNY investigation into the hush money payments after Cohen was indicted. I understand the OLC opinion says you can't indict a sitting president, but T**** is no longer the sitting president and there seem to be endless scandals that implicate him in actual crimes that the DOJ is apparently disinterested in pursuing. Which infuriates me. It's the people of the United States who were screwed by his tax evasion schemes.

I voted for Biden primarily to get T**** out of the White House. But I also voted to have a responsible DOJ and I cannot discern any meaningful action they are taking to clean the mountains of shit up.

Wasn't the DOJ basically told to stand down once the OLC opinion came out? If so, the current DOJ would have basically had to start from scratch and it's only been about 6 months so far. I would think that type of investigation would take more then 6 months to conduct.

[Maybenaut]

Un-indicted co-conspirator # 1 could be Eric Trump. Could also be Weisselberg, Jr. Time, I suppose, will tell.

And, of course,

As always:

The Wire never disappoints.

[somerset]

Who is Un-indicted Co-Conspirator #1? Guesses?

My guess is Allen Weisselberg's #2 (I forget his name).

He's the controller who recently was given immunity for his testimony.

[Kendra]

If Weisselberg and his son were being paid off books ... what are the chances that the Trump family were being paid off books?

[Kendra]

Who is Un-indicted Co-Conspirator #1? Guesses?

My guess is Allen Weisselberg's #2 (I forget his name).

He's the controller who recently was given immunity for his testimony.

I forget where I saw that, but others are speculating that name too.

[MN-Skeptic]

If Weisselberg and his son were being paid off books ... what are the chances that the Trump family were being paid off books?

It's very tempting for closely held corporations to pay for expenses of their owners and the owners' families. I can't imagine Trump NOT having his company pay for his personal expenses.

[Uninformed]

If the minions were getting a cent then the Trumps were getting a dollar.

[somerset]

Who is Un-indicted Co-Conspirator #1? Guesses?

My guess is Allen Weisselberg's #2 (I forget his name).

He's the controller who recently was given immunity for his testimony.

I forget where I saw that, but others are speculating that name too.

Jeff McConney

Jeff McConney, a senior vice president and controller at the Trump Organization, has testified before a grand jury that was stood up by the Manhattan District Attorney's office to determine if charges should be brought against former President Trump and his company.

McConney is one of several witnesses who have testified in front of the grand jury, according to ABC News. His testimony — the first from an employee of the company — indicates that prosecutors have conducted a deep probe into the Trump Organization’s finances.

New York state law mandates that witnesses like McConney are granted immunity on the subject of their testimony. He could still be prosecuted for perjury should he lie, however.

https://thehill.com/regulation/cybersec ... al-counsel

[Frater I*I]

Allen Weisselberg, 73, went through a freight entrance to avoid cameras awaiting his arrival in lower Manhattan Thursday,

What!?!?!?! No perp walk!!!!!