In her press conference notice a lawsuit against former President Trump, the Trump Organization, business executives and three of Trump’s four adult children, New York Attorney General Letitia Jamespoetic features major fraud accusations as if telling “a story about two systems of justice. One for those who work every day and one for the elite, rich and powerful.” On the surface, this may seem like the standard statement of a prosecutor seeking to bring down a businessman accused of corruption, but it resonates more deeply than that and raises troubling questions. Who actually helped Trump commit such alleged fraud?
The lawsuit claims 220 pages detailing the entire alleged scheme, describing the fraud as “shocking,” with assets valued in the billions of dollars. For example, Trump’s current mansion at Mar-a-Lago is claimed to be worth $739 million but James’ lawsuit alleges the real value is only $75 million. A group of rental stables are valued at nearly $50 million, although an outside expert has deemed them worth just $750,000. Even the easily measurable area of Trump’s penthouse was claimed to be 30,000 square feet when it was supposed to be only 10,000 square feet.
The vast amount of financial details that support this case come from years of bitter legal battles with Trump’s lawyers in New York state’s trial and appeals court, including Trump’s contempt of court. often because of not handing over documents as well as real estate. Cushman Wakefield’s company was being looked down upon before it turned over the documents.
Cushman Wakefield Appraises Some of Trump’s Properties the matter in the caseincluding 40 Wall Street in Manhattan, Seven Springs Estate in Westchester County, NY, and Trump National Golf Club in Los Angeles.
The investigation also resulted in Trump’s accounting firm, Mazars, refuse their job for him and instruct the business to notify anyone who may have trusted their work of the disapproval.
This is not the first time the New York Attorney General’s office has sued a Trump business over what appear to be clear violations. In 2018, Trump’s nonprofit foundation was sued for violating nonprofit law by being used for purposes such as settling legal claims, paying for a $10,000 portrait of Trump. and became an arm in the Trump campaign. Due to millions of dollars being misused, non-profit organization has been dissolved and Trump and his children, Ivanka, Don Jr and Eric, are all temporarily barred from serving any New York state nonprofit.
So how does such a pattern manage to get out undetected for years on such a large scale? Part of the answer lies in an answer given by New York AG James during her press conference. When asked how such behavior can go on for decades and how the large institutions Trump handles can be deceived, James consulted Mazars accounting firm, Cushman Wakefield – real estate companies — and Deutsche Bank, one of Trump’s favorite sources of loans. Regarding the Mazars, James said that the Mazars have said they do not audit the financial statements prepared for Trump. Cushman Wakefield’s actions, according to James, are part of an ongoing investigation into Cushman Wakefield. And Deutsche Bank, according to James, has fully cooperated.
But such answers by James do not fully explain how fraud can happen on this scale and none of us should be satisfied with them even though they may be true in fact. Institutions like the Mazars, Cushman Wakefield and Deutsche Bank are extremely powerful and sophisticated entities who have not accumulated wealth by naivety.
Indeed, among Trump’s likely legal defenses to the lawsuit would be that such organizations would not rely solely on financial report – that is, they were too smart to be fooled and therefore he certainly did not engage in cheating.
The three businesses in question represent many of the businesses Trump has handled over the years who may have turned a blind eye to questionable valuations and practices as long as they were making money with Trump. In that sense, and as Trump’s legal team likely to argue, they are hardly victims. All are piggy banks going to the market.
No, the real victims here are the people who work every day – we – have to play by different rules – who James says can’t lie to the banks. The lawsuit by Trump and Trump himself should make us examine ourselves more deeply as well as to find the idea that “The world is divided into two groups: ordinary people and a privileged elite” — itself a “populist pastry” and one that Trump uses extremely well.
His appeal to so many plays is based on what has been described as “cult of democratic aspirations“Meaning that he has the appearance of both the common man and the privileged elite – an outfit that allows him to be a prop for all those who long for what they do not have.
As a young politician, Sarah Palin – no stranger to populist rhetoric – once recalled going to see Ivana Trump “because we were desperate in Alaska for the glitz of pomp flash and culture”. We all have a bit of an image of Palin’s Alaska and that envy and lust are what we must watch out for in ourselves to be able to see exactly the illusions created by wealth. and privileges.