Experts say the tax-evasion case made against Trump Org and its CFO on Thursday appears to be a strong one — built on Trump Org’s own records.https://t.co/oLausUBADO
— David Fahrenthold (@Fahrenthold) July 4, 2021
The indictments add problems to a company already facing an existential one:
Trump Org was designed to monetize the brand and follow the interests of *1 man*…who has now trashed his brand and apparently lost interest. https://t.co/FvIkxbJNfq
— David Fahrenthold (@Fahrenthold) July 2, 2021
… Trump will remain a wealthy man regardless of whether his company is convicted of any of the charges. But the indictment adds to a growing pile of uncertainties about his company that experts say makes its future less clear than at any time since Trump’s much publicized financial collapse in Atlantic City and New York in the 1990s.
If convicted, the company could face hefty fines or other court-imposed penalties, according to legal experts. A felony conviction can complicate companies’ efforts to secure bank loans or even municipal licenses to sell alcohol or get construction permits.
Trump — referred to as the “former CEO” by prosecutors — has relocated to Florida. His two eldest children, Donald Trump Jr. and Ivanka Trump, have followed his path out of business and into the political sphere. And some of his top properties have suffered severe drops in revenue, with more than $300 million in debts to refinance or pay off in the next few years.
“The immediate prosecution isn’t going to threaten to wipe out the company,” said Michael D’Antonio, who wrote two Trump biographies. “But what it does is open the possibility of so many secrets spilling out that the ramifications could last for years. It could be five or six years before all of this gets sorted. And that’s a long time for a company that’s built, in large measure, on the value of its reputation.”…
If Weisselberg, 73, were to unexpectedly leave the company, whether for reasons related to the case or not, D’Antonio said, it could cause a major disruption. He said Weisselberg has effectively run the business with Trump for several decades, managing the details and the finances while Trump built his brand and cut deals…
The next (official) hearing in the case isn’t till September 20th, so we’ve got all summer to speculate. And under any circumstances, the whole meshugas is expected to spread out over the next several years. If we can’t see TFG in an orange jumpsuit being led off to prison in shackles, IMO the next best punishment is torturing the old man with a steady stream of legal threats & business losses through his remaining sundown years… not to mention keeping his depraved progeny and their bedmates too busy hiding to run for any political office.
Open Thread: Calling the Trump Org to AccountPost + Comments (140)