Following revelations of potential tax fraud by the retired judge supervising the Trump Organization, the Trump family retorted by assigning their own accountant to oversee the court-appointed monitor.
Fabrication or Fact?
In a fiery court filing on Monday morning, the Trumps’ lawyer vehemently attacked Judge Barbara S. Jones, labeling her recent report on their company as a complete fabrication, a baseless attempt to justify her role, and a last-ditch effort to support the New York Attorney General’s recently concluded bank fraud case.
Legal Pursuit or ‘Javert’ Quest?
“Further oversight is unwarranted and will only unjustly enrich the monitor as she engages in some ‘Javert’ like quest,” he argued, referencing Victor Hugo’s character in Les Misérables, known for his obsessive chase and lack of compassion.
Trumps Outraged Over $2.6 Million Bill
The Trumps expressed outrage over the $2.6 million fees paid to Jones, outright rejecting her conclusions. “That the monitor seeks to now perpetuate this folly is beyond the pale,” Clifford S. Robert, representing the Trumps, asserted.
The response came shortly after Jones dropped a major revelation about former President Donald Trump’s financial dealings.
Alleged Financial Deceptions
Ahead of the AG’s lawsuit against the Trumps for misrepresenting property values, Justice Arthur F. Engoron mandated a court monitor for the Trump Organization to prevent asset manipulation before a potential massive judgment that might devastate the business.
Trump’s Assets in the Spotlight
Jones, until recently, reported mostly positive findings. However, as The Daily Beast first disclosed, her Friday report hinted at Trump’s years-long deception regarding a claimed personal loan to one of his companies, a trick possibly used to evade taxes on about $50 million.
$48 Million Loan Controversy
“When I inquired about this loan, I was informed that there are no loan agreements that memorialize the loan, but that it was a loan that was believed to be between Donald J. Trump, individually, and Chicago Unit Acquisition for $48 million,” she stated.
‘Loan never existed’
“However, in recent discussions with the Trump Organization, it indicated that it has determined that this loan never existed—and thus that it would be removed from any upcoming forms submitted to the Office of Government Ethics (OGE) and would also be removed from subsequent versions of [corporate financial statements],” Jones continued.
Debunking ‘Falsehoods’
Trump’s alleged $48 million loan became big news, aligning with his defeat in a defamation case and a hefty $83 million payment to E. Jean Carroll. On Monday, Trump’s lawyer refuted her claims, denouncing them as ‘demonstrable falsehoods’ and questioning her competence.
The Clash of ‘Truths’
“The Trump entities of course never said the loan did not exist. Rather, they provided a copy of an internal memorandum reflecting simply that ‘no liabilities or obligations are outstanding’ under the loan at that time,” Clifford S. Robert wrote. “The Monitor’s deliberate mischaracterization casts further doubt on her competency and veracity.”
Unresolved Questions
The Trumps’ defense, an indistinct memo, supposedly proves the loan’s existence but instead outlines a different loan, leaving questions about the $48 million unaddressed. Yet, given his history of challenging the Trumps’ credibility and evidence, including their misrepresentation of Trump Tower assets, Justice Engoron might view their new claims skeptically.
Legal Maze Intensifies
The Trump Organization faces 34 felony charges over allegedly faking documents in the Stormy Daniels affair, and their new CPA’s credibility is questionable. Engoron previously criticized the CPA for inconsistencies and biased testimony favoring the Trumps, especially regarding asset valuation principles.
Tax Payment Insights
Jones’ tenure has been low-key, with the most noteworthy observation being Trump’s $40 million transfer for a tax payment, not indicating any foul play. She previously noted Trump transferring $40 million for a tax bill, but this wasn’t seen as misconduct.
‘Self-serving hyperbole’
The Trumps are now pushing back, with their lawyer Robert dismissing her year-long investigation as a wasteful hunt for trivial errors and labeling her findings as “self-serving hyperbole.”
‘Abusive and costly process’
He pointed out the $2.6 million expense for her 14-month investigation that found only trivial inconsistencies, arguing that the court should put an end to this costly and ‘abusive’ investigation.
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