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triplehorn

House investigation of possible Trump money laundering

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Purpose of this thread is to follow events in this matter as they unfold.  It is NOT declarative of Trump money laundering or other financial/banking fraud or other crimes at this time.

The Second Circuit court of appeals is currently hearing the case related to House Intel and Financial services committees' subpoenas of financial records of Trump/Trump kids/Trump Org from Deutsche Bank, Capital One, JP Morgan Chase and several other banks in what has been clearly stated by House legal counsel as related to a money laundering investigation.

I posted this article in an unrelated thread - it's by a 2L student at Duke Law who seems to be more on the ball than most main stream reporters about picking up the important things:

 

U.S. House Confirms It Is Conducting “Major” Money Laundering Investigation Involving President Trump

 

The author followed-up the article with a podcast discussing a lot of outstanding issues including current oral arguments before the Second Circuit hearing the Trump/Deutsche Bank case on appeal, timing of outcomes and medium term strategies likely to run clock, and constitutional law questions related to Article 1 powers on Congress to investigate. 

There's also consideration of the question of WHY would Deutsche Bank, for one, participate in international money laundering.  This is not a question of IF DB is a money launderer.  They are established money lauderers - and for Russia in particular.

podcast: Our newest team member Bobby DeNault talks about possible Trump money laundering, Deutsche Bank, white collar crime, and more.

Edited by triplehorn

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29 minutes ago, Post Oak said:

I'll save everyone some time. Of course, he's a money launderer.

Apart from Trump threatening via twitter to sue msnbc over O'Donnell's premature reporting Russians co-signed his DB loans, there is radio silence from Trump allies in Congress, the media, etc. on the House investigation into Trump money laundering and the Second Circuit proceedings.  No shouts of 'witch hunts' or other wild deflections or attacks.  It's almost like everyone knows.

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This is a well done documentary podcast providing a historical retrospective of the emergence of Putin/oligarchs in the late 90's an the proliferation of international money laundering which coincided with Trump business failures in the 90's and the synergistic relationship that formed.  Also how money laundering and fraud took a back seat to the GWOT after 9/11, masking the acceleration of international crime syndicates spearheaded by a post-USSR Putin led mob-kleptocracy.  It incorporates not only Deutsche Bank but also other banks tied to drug cartels with an emphasis on the criminalization of real estate - parking illicit cash in commercial real estate - and the unbalanced market competition with legitimate business investment it has caused.  Good amount on Felix Sater and Bayrock  --> Trump Org/Trump Tower.  Recall Trump saying in an interview he wouldn't be able to recognize Sater in the same room ?  yeah.

The Asset episode 4 : From Russia With Cash

 

Quote

Russian Money was pouring out of Russia into the US real estate market and Donald Trump was all about it. We follow the Russian money flowing into the Trump Organization, highlighting the shady cast of characters that surround Donald Trump and his businesses from the suspicious deals in the former Soviet Union, to “little Moscow” where Trump concentrated his properties in Florida, to the story behind Trump’s favorite bank. Trump may not have a lot of money in Russia but Russia sure has money in Donald Trump.

In this episode of The Asset, host Max Bergmann, the director of The Moscow Project, an initiative of the Center for American Progress Action Fund, shows how Trump changed his business model to tap into the Russian market. Suddenly the Trump Organization wasn’t really in the development business. It was in the real estate licensing business, hiring all sorts of shady brokers to help it tap into the Russian market.

Yet somehow after the worst real estate crisis since the Great Depression, Trump suddenly found himself with loads of unexplained cash. Trump went into the worst real estate market in real trouble and comes out on the other side able to spend absurd amounts of cash on golf courses, as well as having a new line of credit from Deutsche Bank, a bank that had just sued him for defaulting on his loans. This does not add up. Except, in many ways, it does. It just requires factoring in Russia.  

The Asset tells the full story of Trump and Russia. Each week, we will examine the colorful characters and dirty deals that populate the story of how Russia helped the son of a shady real estate mogul became President of the United States.

 

This amounts to a lot more than a House Congressional investigation.  But a thorough public airing is essential to get people up to speed with eyes open.

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Oh my Lord, he launders money like we launder money!  

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In fact, that’s the way the democrats should frame the messaging on the investigation.

”We are conducting this investigation to CLEAR the president of all the accusations and allegations concerning his finances and potential Russian money laundering.  It would be in the President’s best interest to be fully cooperative with all our requests for financial documents.”

Edited by Hugo Stiglitz

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10 minutes ago, Hugo Stiglitz said:

In fact, that’s the way the democrats should frame the messaging on the investigation.

”We are conducting this investigation to CLEAR the president of all the accusations and allegations concerning his finances and potential Russian money laundering.  It would be in the President’s best interest to be fully cooperative with all our requests for financial documents.”

Trump would say see, proof I didn't do it so why are we conducting an investigation.  Lets investigate the investigators. 

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This laundering story would certainly explain his all-of-a-sudden giving a shit about the status of Bahamian banks in the wake of Hurricane Dorian.  

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Thread title should read "House investigation of possible Trump money laundering and tax fraud."

And this thread below should be on hurricane Sharpie watch >

 

VVV

Spoiler

 

 

House Intel committee is hauling in Trump Org CFO Weisselberg, who's already cooperating with SDNY, for some Trump Fam questions 

VVV

Spoiler

 

VVV

 

Edited by triplehorn

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I hope the Democrats hold off on making civil asset forfeitures illegal until after they sieze Trump's assets.

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8 hours ago, triplehorn said:

Thread title should read "House investigation of possible Trump money laundering and tax fraud."

Can't believe a guy who was twice convicted for tax fraud before he ran for president would commit tax fraud.

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8 hours ago, triplehorn said:

Thread title should read "House investigation of possible Trump money laundering and tax fraud."

And this thread below should be on hurricane Sharpie watch >

 

VVV

  Reveal hidden contents

 

 

House Intel committee is hauling in Trump Org CFO Weisselberg, who's already cooperating with SDNY, for some Trump Fam questions 

VVV

  Hide contents

 

VVV

 

Whatever.  Nothing will come of this.  Absolutely nothing. 

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3 hours ago, DigglerontheHoof said:

Whatever.  Nothing will come of this.  Absolutely nothing. 

If the pending returns and financials demonstrate Trump to be a massive tax cheat and compromised by foreign debt and/or Russian money laundering, it’ll appear in his articles of impeachment.  

Whether or not something comes of this will depend first on Mitch and Senate GOP, followed in 11/2020 by voters.

@EuroHorn hey there, you doing alright, buddy ?  Use your words.

 

 

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4 hours ago, DigglerontheHoof said:

Whatever.  Nothing will come of this.  Absolutely nothing. 

Ah well, nevertheless!

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Keep in mind that Deutsche Bank evidently already turned over financial documents of Russian clients, for one, who likely did business through DB with Trump.  So House investigators likely already have half the equation on paper wrt Deutsche Bank/Trump/Russia

from Reuters today:

Quote

"The congressional inquiry found instances where Deutsche Bank staff in the United States and elsewhere flagged concerns about new Russian clients and transactions involving existing ones, but were ignored by managers."

 

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A former Danske Bank executive at the heart of a €200bn money laundering scandal in Estonia has been found dead in an apparent suicide, according to local police.

 

 

 

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On 9/3/2019 at 12:05 PM, Brisketexan said:

Oh.  The House.  They're here to save us.  Thank God.

The House:

07619c8608d12306c1c1a831ae35dd2677011f85

So very on point.  The House of Representatives is not a competent criminal investigation body.  It really has little or no business conducting investigations of the criminal activities of individuals or even groups of individuals.

That's not to say that Trump shouldn't be investigated to the hilt.  But by someone competent (FBI, local authorities) that at least ostensibly doesn't have a political agenda or bias.  And doesn't have another job to abdicate.

Shit, if the FBI, SDNY, and NY authorities had done their fucking job, Trump would have been a convicted felon years ago and we wouldn't have to deal with this mess.

Edited by TwiceHorn

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7 minutes ago, triplehorn said:

A former Danske Bank executive at the heart of a €200bn money laundering scandal in Estonia has been found dead in an apparent suicide, according to local police.

 

 

 

Very sad method of suicide to shoot yourself in the face twice then eight times in the chest and then lodge three bricks in your own ass and after all of the have to wait, in extreme discomfort, for your knee high cement boots to dry so you can dispose of yourself.  

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7 minutes ago, TwiceHorn said:

So very on point.  The House of Representatives is not a competent criminal investigation body.  It really has little or no business conducting investigations of the criminal activities of individuals or even groups of individuals.

That's not to say that Trump shouldn't be investigated to the hilt.  But by someone competent (FBI, local authorities) that at least ostensibly doesn't have a political agenda or bias.  And doesn't have another job to abdicate.

Shit, if the FBI, SDNY, and NY authorities had done their fucking job, Trump would have been a convicted felon years ago and we wouldn't have to deal with this mess.

The FBI can't do it with Barr above them.  I said it in another thread, but the DOJ needs a revamp.  It can't handle a situation like this where the AG is actively helping to cover up wrong doing.  It might have to removed from the executive branch.

Edited by kevwun

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15 minutes ago, TwiceHorn said:

So very on point.  The House of Representatives is not a competent criminal investigation body.  It really has little or no business conducting investigations of the criminal activities of individuals or even groups of individuals.

That's not to say that Trump shouldn't be investigated to the hilt.  But by someone competent (FBI, local authorities) that at least ostensibly doesn't have a political agenda or bias.  And doesn't have another job to abdicate.

Shit, if the FBI, SDNY, and NY authorities had done their fucking job, Trump would have been a convicted felon years ago and we wouldn't have to deal with this mess.

 

House has hired guns waiting in the wings:

 

Douglas Letter - 40 yr DOJ career, resigned last year as Director of the appellate staff for the Civil Division of DOJ to become House chief legal counsel

Daniel Goldman - former AUSA SDNY expert on Russian organized crime

Patrick Fallon - former chief of the FBI’s Financial Crimes Section

Barry Berke - pantsed Lewandowski in under 5 min to a national audience last week

Norm Eisen - broad history, in past specialized in investigations of complex financial fraud, including Enron, Refco, the ADM antitrust case, and the subprime financial collapse.

 

that's not a bad start

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Nothing earthshaking at this moment, just that Deutsche Bank is a Trump family affair, and has tax returns for two unnamed Trump family members, one of which is not covered by confidentiality rules:

Quote

Deutsche Bank told a federal appeals court on Friday that it had the tax return of two members of the Trump family, but that he did not disclose their identity.

The German bank – long President Trump's primary lender – is caught up in a legal battle between Trump and congressional Democrats, which has sued for financial documents related to the president, his family and his businesses.

Last month, judges in the appeals court asked Deutsche Bank and Capital One Bank if they had copies of tax returns that would be covered by subpoenas, named Mr. Trump and his three oldest children; Donald Jr., Ivanka and Eric – as well as Trump's company.

Capital One told the court that it did not have copies of all tax returns covered by the lawsuit. Deutsche Bank said it did, but the names associated with those returns were reversed from the public version of the letter.

News organizations, including The New York Times, then asked the court to terminate Deutsche Bank's letter, and by opposing this request, the bank revealed that the tax return belonged to two individuals.

"The bank has in its possession tax returns (either in draft or as filed) in response to subpoenas for two people, not entities, lawyers for Deutsche Bank told the United States Court of Appeals for the other circuit in a filing Friday. Trump also opposed the request.

The bank told the court that it was contractually obliged to maintain the confidentiality of one of these individuals, but that a review of contracts for the other person did not reveal any confidentiality clauses.

Deutsche Bank asked the court give it time to inform its clients if the court decides to seal the letter.

The documents contained by Deutsche Bank probably contain details of how Trump made his money, who his partners were, the terms of his extensive loan and other transactions.

Mr. Trump's lawyers have been fighting for to block the lawsuits, which were issued in a ridiculed by the House Intelligence and Financial Services Committee, saying they have no legitimate regulatory purpose.

The Financial Services Committee says it wants to know whether Mr. Trump helped Russians and other foreign buyers to launder money through his properties, and the intelligence committee says it is trying to determine whether Mr. Trump's financial turn made him subject to foreign influence.

 

 

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5 minutes ago, Nice Guy Eddie said:

Is there really any chance that trump didn’t lie on his state and federal tax returns?  

I'd say about zero, or at least some REALLY aggressive positions (because he had accountants on it).

But, proving it may be another matter.

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Based on Michael Cohen’s testimony to Congress, one thing to look at is what he reported to the IRS, his filed report, side by side with tax reports he presented to banks for loans.  Cohen essentially already detailed this aspect of bank fraud as having occurred.

On a related matter, how will this federal judge’s decision affect the pending Second Circuit appellate ruling on his Deutsche Bank financials later this month, which also includes a copy Trump tax returns ?  

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Posted (edited)

He just tweeted this. Someone on one of the broadcasts needs to quickly needle him w/respect to taxes since he brought up 'income,' in the tweet. He hates it when people do that. He won't be able to help himself and he'll start talking about the taxes.

 

Edited by Mrs Whiggins
link

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On 9/25/2019 at 12:36 PM, kevwun said:

The FBI can't do it with Barr above them.  I said it in another thread, but the DOJ needs a revamp.  It can't handle a situation like this where the AG is actively helping to cover up wrong doing.  It might have to removed from the executive branch.

I'm not sure I believe that the FBI is completely compromised.  I'm more inclined to believe that no US Attorney would bring charges (a certainty given DOJ policy).

Here I think is an opportunity for the DOJ/FBI to be "re-envisioned" where it acts as an adjunct or supplement to state-level authorities.  I think the main role of the federal criminal apparatus should be investigating/prosecuting state-level corruption and  crimes with a truly federal interest.  Conversely, I think what expertise it does have (forensic accounting etc.) should be frequently lent or "seconded" to state authorities for state purposes, to include investigations of federal-level corruption within the state.  A federal criminal investigation/prosecution should never take place where a state could do it with federal assistance.

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The judge's ruling is still getting parsed, but there's some particularly fun nuggets in there

kjf9xib.jpg

This part of his order reads to me as him saying, "You guys keep repeating that memo like you think it's the law. But that memo has no binding authority over any court."

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Fast moving:  Within about 90 minutes of the district judge's decision, the Second Circuit granted a temporary administrative stay pending expedited review by the court. A date for the hearing was not immediately set.

US Judge Dismisses Trump Challenge to Subpoena of Tax Returns; 2nd Circuit Gets Immediate Appeal

Quote

President Donald Trump’s lawsuit challenging a Manhattan grand jury subpoena seeking his tax records was immediately appealed to the U.S. Court of Appeals for the Second Circuit after a district judge dismissed the action Monday.

Shortly after getting the case, the Second Circuit entered a temporary administrative stay.

U.S. Senior District Judge Victor Marrero filed a 75-page order dismissing the case just before 9 a.m. Monday, and Trump’s lawyers immediately filed an emergency notice of appeal.

Within about 90 minutes of the district judge’s decision, the Second Circuit granted a temporary administrative stay pending expedited review by the court. A date for the hearing was not immediately set, but lawyers for Manhattan DA Cyrus Vance Jr. quickly requested an expedited briefing schedule with oral arguments Friday.

A letter Friday from Trump lawyer William Consovoy of Consovoy McCarthy declared that, if Marrero had not issued any ruling on Trump’s motion for a stay, temporary restraining order or injunction by 9 a.m. Monday, the president’s lawyers would immediately appeal to the Second Circuit.

After receiving Consovoy’s letter, Marrero closed the record of the case in the Southern District of New York and asked that no further submissions be sent.

Danny Frost, a spokesman for the Manhattan DA’s office, confirmed early Monday that New York County prosecutors took no action in the case over the weekend.

The current stay in the case was set to expire at 1 p.m. Monday, but Consovoy wrote that if Marrero issued a ruling after 9 a.m., the president would not have time to seek relief before his financial information was exposed. Trump’s accounting firm, Mazars USA, had agreed to hand-deliver an initial round of documents to the grand jury at 4 p.m. on the day the stay ended.

Trump sued Mazars and Vance in September in an attempt to block the release of his tax returns to the grand jury. The president’s lawyers have argued he is immune from district attorney investigation and prosecution due to the nature of his office, while Vance’s lawyers defended the broad investigative power of grand juries and noted that materials delivered to a grand jury proceed in secret.

Marrero decided he had to abstain under Younger v. Harris, the 1971 U.S. Supreme Court decision setting out when federal courts can and cannot intervene in state cases.

In case the Second Circuit disagrees on the issues of forum discussed in Younger, Marrero went on to discuss the merits of Trump’s argument for presidential immunity, finding that his motions for injunctive relief should be dismissed in a court with appropriate jurisdiction.

”The notion of federal supremacy and presidential immunity from judicial process that the President invokes, unqualified and boundless in its reach as described above, cuts across the grain of these constitutional precedents,” Marrero wrote.

The writers of the U.S. Constitution were careful in “shunning” the all-encompassing immunity possessed by the British king, making sure American presidents would not have similar power, Marrero wrote.

In rulings since then, the judge wrote, courts have found that presidents are not immune from civil suits involving private conduct prior to inauguration, from subpoenas related to the conduct of other people or from providing testimony in court related to private disputes involving other people.

Memos from the U.S. Department of Justice supporting presidential immunity should not be given as much legal weight as the president gives them, Marrero wrote.

Vance’s office declined to comment on Marrero’s decision.

This is a developing report.

 

 

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Does this get SCOTUS review?  How does a Roberts court with a conservative majority address this?  

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SDNY investigation suddenly went dormant shortly after Bill Barr became AG.  Cy Vance is Cy Vance but at least they are gathering evidence advancing the ball.  

 

^^^ Why access to Trump's tax returns is being fought over in court right now.  Separately, US House and NYAG are also seeking the tax returns currently under appeal in the Second Circuit.

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Posted (edited)
58 minutes ago, triplehorn said:

SDNY investigation suddenly went dormant shortly after Bill Barr became AG.  Cy Vance is Cy Vance but at least they are gathering evidence advancing the ball.  

 

^^^ Why access to Trump's tax returns is being fought over in court right now.  Separately, US House and NYAG are also seeking the tax returns currently under appeal in the Second Circuit.

OF COURSE the organization violated the statue against doctoring books. This goes way deeper than just payments to a pornstar. Something something large cross section of income is from Russia something something something...

Edited by HOOK'EMHOOAH

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On 10/7/2019 at 11:00 PM, DDD Dad said:

Does this get SCOTUS review?  How does a Roberts court with a conservative majority address this?  

No idea.  But the notion that those self-serving DOJ memos saying that a sitting President can't be indicted for a crime are absurd.  They are arguably binding on a DOJ employee (which I think Mueller was?), but I don't think courts will ascribe them any weight.

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On 10/7/2019 at 11:00 AM, DDD Dad said:

Does this get SCOTUS review?  How does a Roberts court with a conservative majority address this?  

Fascinating issue.  Normally, conservative types would seem to be in favor of curbing federal interference with state court procedures.  Setting aside any pro-Trump bias, I'm not sure strong executive notions are a partisan thing.

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12 minutes ago, Keef said:

No idea.  But the notion that those self-serving DOJ memos saying that a sitting President can't be indicted for a crime are absurd.  They are arguably binding on a DOJ employee (which I think Mueller was?), but I don't think courts will ascribe them any weight.

No, they have no precedential value.  But they set forth an analysis that finds some support in other cases.  A court is free to adopt the analysis, reject it, or some of both.

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Posted (edited)
15 minutes ago, Keef said:

No idea.  But the notion that those self-serving DOJ memos saying that a sitting President can't be indicted for a crime are absurd.  They are arguably binding on a DOJ employee (which I think Mueller was?), but I don't think courts will ascribe them any weight.

What TwiceHorn said above.

3 minutes ago, TwiceHorn said:

Fascinating issue.  Normally, conservative types would seem to be in favor of curbing federal interference with state court procedures.  Setting aside any pro-Trump bias, I'm not sure strong executive notions are a partisan thing.

My thoughts as well, TwiceHorn.  I'm very curious to see what might come of this.  My initial sense is that Roberts would act to protect the power of the court as a co-equal branch of government, and to maintain its legitimacy.  That would not bode well for the President.

Edited by DDD Dad

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