Oh my!
 |
"Real Property Assests, the best tax aversive way to
transfer money overseas so it does not look like
money laundering." |
This sounds like the Detroit Land Bank Community Development Corporation.
Actually, Michael Cohen reminds me of
Michael Brady, but hey, what do I know.
I know
Perkins Coie Sucks and so does Donna Shalala.
What better way to launder money through foreign corporations which are registered in the States than to manage assets (
a.k.a. money launder).
There are many "asset management" artifices and schemes, but in this particular instance, Cohen did not use the ole UCC patent box scheme, my favorite one being the Corporate Shape Shifter patent box.
This is when you use a fake corporation, disguised as a campaign committee because the FEC does not know about it, or, in this instance, corporations that are state registered not-for-profits, to transfer everything to another country under the trademark license, so you can 'avert' taxes and any other questionable machinations of money laundering operations.
Traditionally, these fake corporations use child welfare NGOs, but we will have to wait for Juicy Joon.
This fraud scheme is not as sophisticated as the Detroit Land Bank Community Development Corporation, but you have to give them brownie points for creativity!
Investigators in New York issued a subpoena to Michael D. Cohen, President Trump’s former fixer and lawyer, for documents related to the Donald J. Trump Foundation on Wednesday, an escalation of the
Cuomo administration’s investigation into whether the president’s charity violated tax laws.
After receiving the subpoena, Mr. Cohen called the investigators in the state Tax Department to ask when they could talk, according to a person with knowledge of the investigation.
The subpoena was issued less than a day after Mr. Cohen
pleaded guilty in Federal District Court in Manhattan to charges including campaign finance violations, in the form of payments to two women who said they had affairs with Mr. Trump, for the “purpose of influencing the election” for president in 2016.
It also came amid a continuing war of words between Gov. Andrew M. Cuomo, a sharp-elbowed Democrat who is said to have presidential aspirations, and Mr. Trump, as both have lobbed personal attacks at each other over Twitter and in speeches. Mr. Cuomo — whose primary opponent,
Cynthia Nixon, has accused him of only lukewarm liberalism — has presented himself as a progressive foil to Mr. Trump.
The subpoena to Mr. Cohen on Wednesday, issued by the state’s Department of Taxation and Finance, seemed calculated to strike yet another blow — both legal and political — against the president and his inner circle.
It seeks documents related to both personal and business federal tax filings, as well as state tax filings, connected to the foundation, according to two senior Cuomo administration officials, who spoke on condition of anonymity because they were not authorized to speak about an open investigation. Those documents could include general ledgers, bank statements, invoices and contracts.
The officials said the subpoena stemmed from remarks that Lanny J. Davis, a lawyer for Mr. Cohen, made on Tuesday evening on
NBC Newsand
CNN. “I do believe that he has information about Mr. Trump that would be of interest both in Washington as well as New York State,” Mr. Davis said of Mr. Cohen on CNN, referring to a two-year investigation the state attorney general’s office conducted into the Trump Foundation. When contacted on Wednesday, Mr. Davis declined to provide further information about Mr. Cohen’s knowledge of the foundation.
James Gazzale, a spokesman for the Tax Department, confirmed the subpoena had been issued “for relevant information in light of the public disclosures made yesterday” but declined to comment further, citing an ongoing investigation.
Representatives of the Trump Organization, an umbrella company for Mr. Trump’s holdings, did not immediately respond to a request for comment about the subpoena on Wednesday.
On its own, the Tax Department’s inquiry may provide political ammunition for Mr. Cuomo more than it presents a legal peril to Mr. Trump. Even if the department found evidence of criminal behavior, it would need to refer the matter to a law enforcement agency, such as the attorney general’s office or a district attorney, for prosecution.
In June, the state attorney general
sued the Trump Foundation in civil court, accusing the charity of violating campaign finance laws, self-dealing and illegally coordinating with Mr. Trump’s presidential campaign. The suit said the foundation was co-opted by the campaign during the 2016 race. Campaign staff not only directed foundation fund-raisers but also controlled who received grants, according to the lawsuit. The lawsuit sought to dissolve the foundation, recover $2.8 million in restitution and temporarily bar President Trump and three of his children from serving in leadership positions in New York nonprofits.
Administration officials would not say when the Tax Department’s investigation began, but it became public a month after the attorney general’s lawsuit.
Beyond the civil charges, the attorney general’s office has not announced a criminal investigation into the foundation, saying only that it would seek a criminal referral from a state agency at the appropriate time. But because the office’s review of the Trump Foundation is still active, the office is coordinating with the Tax Department’s inquiry, according to an official familiar with the investigation, who also requested anonymity because the investigation is active.
The Manhattan district attorney’s office is also looking into possible impropriety by the Trump Foundation, according to someone familiar with the matter.
Mr. Trump established the
Donald J. Trump Foundation in 1987, when he was a New York City real estate developer, with the stated mission of collecting and maintaining money “exclusively for charitable, religious, scientific, literary or educational purposes,” either directly or by donating to other organizations. It had about $1 million in assets in 2016, according to its last I.R.S. filing. Mr. Trump was the foundation’s president until he stepped down after taking office in January 2017.
The purposes for which the Detroit Land Bank Community Development Corporation (the “Corporation”) is organized are to receive and administer funds exclusively for charitable, education and scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). In particular, the Corporation is organized to serve the people of the City of Detroit, Michigan through the advancement of economic welfare, by making available technical assistance, training, and capital for the establishment of new enterprises and the growth of existing enterprises, through the promotion of community development, and through the provision of affordable housing for persons of low and moderate income (including making distributions to other Code Section 501(C)(3) organizations).
In October 2016, the New York attorney general’s office ordered the foundation to cease soliciting donations in the state, after Mr. Trump admitted he had used the foundation’s money to contribute to political causes. After the election, Mr. Trump announced he would dissolve the foundation to avoid an appearance of a conflict of interest, but the attorney general did not approve the proposal, saying the office needed to finish its investigation.
Voting is beautiful, be beautiful ~ vote.©
