Just two months ago, scandal-ridden former President Donald Trump’s personal family company, the Trump Organization, was found guilty on 17 charges of tax fraud and fined an embarrassingly measly $1.6 million for its crimes, following multiple bombshell revelations made by the company’s longtime Chief Financial Officer Allen Weisselberg, in sworn testimony he made in connection to plea deal, in an effort to lessen his own prison sentence for his involvement in the fraudulent practices.
As part of that guilty verdict, the Trump Organization was ordered to stand subject to financial “babysitting” by a retired judge, whose job is to closely monitor the embattled company’s finances following the fraud indictment.
However, according to new reporting from The Daily Beast’s Jose Pagliery, the Trump Organization babysitter released a report last week that seemed to indicate that the ex-president’s family business has suddenly gone dark and secretive regarding the company finances, and Pagliery notes that it could signal trouble for the Trump Org — either they’re in financial trouble, or they’re up to financial trouble.
The report released by the retired judge tasked with monitoring the Trump Organization noted that the scandal-ridden company and its executives have “…not provided a 2022 statement of financial condition to any third parties, and do not intend to do so.”
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Pagliery explains that the “statement of financial condition” is a legal document that lists the “company’s assets and liabilities. But notably, it must also include disclosures describing how the numbers were put together. These are the very documents the Trumps are accused of faking for years, padding the numbers with nonexistent real estate space in Trump Tower and hyperinflated values for undeveloped land.”
The sudden lack of transparency and secretive nature of their finances has alarm bells screeching.
“The Trump Organization’s financial statements are now the center of the New York attorney general’s massive fraud investigation; and any large real estate company would have to regularly make financial condition statements anytime it seeks to borrow money for a project from a reputable lender,” Pagliery reports. “That means that, either the Trump Organization has fallen on hard times, found a bank willing to do business without responsible paperwork, or isn’t telling the truth.”
The Beast report goes on to note that the sudden black-out of the Trump Organization’s finances could also indicate that the company has managed to find and procure a “sketchy” financial partner, willing to help the embattled business keep its head above water. As the report also notes, if this is the case, it could open up not only the Trump Organization but also this rhetorical new company to additional investigations and prosecution.
At this point, given that the Trump Organization has quite literally already been found guilty of more than a dozen financial fraud crimes, it certainly stands to reason that the Trump family company is not above or against extended sketchy practices.
You can read the full report from The Daily Beast here.
Featured image via Political Tribune Gallery
