Jump to content

A story about a pathetic man's downfall


Francisco 2.0

Recommended Posts

44 minutes ago, Horn Dog said:

Holy Crap.   People get paid good money to receive numbers from paid clients, plug them in a report, and spit them right back out without any other work and without taking any responsibility for accuracy??  

(insert the I should of started a corporate accounting firm cat meme)

I think in reality, almost no clients ask for this kind of thing, only a nutbag narcissist like Trump.

  • Hook 'Em 1
Link to comment
Share on other sites

12 minutes ago, Macanudo said:

I don't understand how Mazar's doesn't face some kind of disciplinary action here.   Aren't they supposed to, um, audit those records?

 

2 minutes ago, Bama Chick said:

This feels very Enrony/Arthur Anderseny.

These are presented for "public consumption" by non-public entities (Trump's corporate shell game).  They aren't intended to be relied upon by banks, investors, or the IRS.

I can't think of anyone that would have such a document prepared.  Companies usually have financial statements prepared for three reasons:

a) quarterly/annual reports for public companies regulated by the SEC

b) for lenders 

c) to solicit investment or report to investors in other than a public offering of securities.

And, types of financial statements for the IRS.  And, rather obviously, these cannot be accompanied by such disclaimers or prepared with so little investigation of actual facts or application of Generally Accepted Accounting Principles.

Nobody except teh Donald prepares bullshit, unaudited, no-GAAP financial statements to show an ignorant public how wealthy he is.

If these had been prepared for or shown to those type of entities, Mazars might be looking at some liability, although it's pretty thoroughly disclaimed.  And, I think very few reputable accountancies would permit their names to be attached to such statements, even with disclaimers.

  • Hook 'Em 1
Link to comment
Share on other sites

9 minutes ago, TwiceHorn said:

 

These are presented for "public consumption" by non-public entities (Trump's corporate shell game).  They aren't intended to be relied upon by banks, investors, or the IRS.

I can't think of anyone that would have such a document prepared.  Companies usually have financial statements prepared for three reasons:

a) quarterly/annual reports for public companies regulated by the SEC

b) for lenders 

c) to solicit investment or report to investors in other than a public offering of securities.

And, types of financial statements for the IRS.  And, rather obviously, these cannot be accompanied by such disclaimers or prepared with so little investigation of actual facts or application of Generally Accepted Accounting Principles.

Nobody except teh Donald prepares bullshit, unaudited, no-GAAP financial statements to show an ignorant public how wealthy he is.

If these had been prepared for or shown to those type of entities, Mazars might be looking at some liability, although it's pretty thoroughly disclaimed.  And, I think very few reputable accountancies would permit their names to be attached to such statements, even with disclaimers.

It seems pretty obvious that Trump took these financial documents to lenders, but left the Mazar letter at home.

Link to comment
Share on other sites

5 hours ago, tokamak said:

I guess they picked “Truth” because “Pravda” was already taken?

Back in Soviet Russia the other newspaper was called  Izvestia which means "the news".  With all the fake news/haox yelling it reminded me of what my tour guide told me when I saw the papers on a panel in the park for people to read. There is no truth in Pravda and no news in Izvestia.

 

Link to comment
Share on other sites

5 hours ago, tokamak said:

I guess they picked “Truth” because “Pravda” was already taken?

Back in Soviet Russia the other newspaper was called  Izvestia which means "the news".  With all the fake news/haox yelling it reminded me of what my tour guide told me when I saw the papers on a panel in the park for people to read. There is no truth in Pravda and no news in Izvestia.

 

Link to comment
Share on other sites

1 hour ago, TwiceHorn said:

 

These are presented for "public consumption" by non-public entities (Trump's corporate shell game).  They aren't intended to be relied upon by banks, investors, or the IRS.

I can't think of anyone that would have such a document prepared.  Companies usually have financial statements prepared for three reasons:

 

 

Well, sure.  They are for the public.  But you and I both know that he sure as hell used documentation prepared by this firm in his dealings with whatever lenders he dealt with.  Now, granted, it's on those lenders to take a hard look at what they have done, but you know Trump used these in other ways besides fleecing the public.

I remember back in either late 2015 or early 16 he was pretty insistent on releasing financial statements, because in his words (paraphrasing) those were more reliable way to verify wealth than a tax form.  After what Mazars did this week, we all know why he was willing to give out statements, but backtracked on the taxes.

 

Link to comment
Share on other sites

3 minutes ago, Francisco 2.0 said:

 

Well, sure.  They are for the public.  But you and I both know that he sure as hell used documentation prepared by this firm in his dealings with whatever lenders he dealt with.  Now, granted, it's on those lenders to take a hard look at what they have done, but you know Trump used these in other ways besides fleecing the public.

I remember back in either late 2015 or early 16 he was pretty insistent on releasing financial statements, because in his words (paraphrasing) those were more reliable way to verify wealth than a tax form.  After what Mazars did this week, we all know why he was willing to give out statements, but backtracked on the taxes.

 

I didn't mean to imply that this in any way absolves Trump of lying to investors, creditors or the IRS with the apparently able assistance of Mazars.

Hopefully, none of the above would rely on such statements containing such disclaimers, anyway.  But the mere fact that Mazars would whore itself in this fashion seems to make it pretty likely that they were complicit in some fraud.

I bet the people over in France are shitting themselves.

Link to comment
Share on other sites

10 minutes ago, shakahorn said:

I dunno about the creditors calling the notes.  Reminds me of the old saying 'I owe the bank 10 grand, I can't sleep at night.  I owe the bank 100 grand, my banker can't sleep at night.'  [you can tell how old the saying is by the amounts]

Yeah, this is the truth.

I doubt any of his lenders are anxious to foreclose on overvalued properties.

Link to comment
Share on other sites

4 minutes ago, TwiceHorn said:

I didn't mean to imply that this in any way absolves Trump of lying to investors, creditors or the IRS with the apparently able assistance of Mazars.

Hopefully, none of the above would rely on such statements containing such disclaimers, anyway.  But the mere fact that Mazars would whore itself in this fashion seems to make it pretty likely that they were complicit in some fraud.

I bet the people over in France are shitting themselves.

 

If you have the time, you should read the article I posted yesterday in this thread written back in May 2020 about Trump and Mazars.  

 

Link to comment
Share on other sites

1 hour ago, TwiceHorn said:

 

These are presented for "public consumption" by non-public entities (Trump's corporate shell game).  They aren't intended to be relied upon by banks, investors, or the IRS.

I can't think of anyone that would have such a document prepared.  Companies usually have financial statements prepared for three reasons:

a) quarterly/annual reports for public companies regulated by the SEC

b) for lenders 

c) to solicit investment or report to investors in other than a public offering of securities.

And, types of financial statements for the IRS.  And, rather obviously, these cannot be accompanied by such disclaimers or prepared with so little investigation of actual facts or application of Generally Accepted Accounting Principles.

Nobody except teh Donald prepares bullshit, unaudited, no-GAAP financial statements to show an ignorant public how wealthy he is.

If these had been prepared for or shown to those type of entities, Mazars might be looking at some liability, although it's pretty thoroughly disclaimed.  And, I think very few reputable accountancies would permit their names to be attached to such statements, even with disclaimers.

You guys can wring your hands all that you want, but the language Mazars utilized is standard for compilations.  They didn't just invent it for that one particular client.

  • Hook 'Em 1
Link to comment
Share on other sites

7 minutes ago, Francisco 2.0 said:

 

If you have the time, you should read the article I posted yesterday in this thread written back in May 2020 about Trump and Mazars.  

 

I skimmed it and had read it before.  I think at some point, Mazars culture, which I assume is of a legitimate accounting firm and therefore mostly honest, would overtake the shitsplat fraud shops they acquired to expand into NY and the US.  Maybe not.

Link to comment
Share on other sites

5 minutes ago, DalTxHornFan said:

You guys can wring your hands all that you want, but the language Mazars utilized is standard for compilations.  They didn't just invent it for that one particular client.

Everything up until "We did become aware of departures from accounting principles generally accepted in the United States of America that are described in the following paragraphs." is boilerplate.  

Everything after that, while using some boilerplate language, is specific to Trump.

Link to comment
Share on other sites

10 minutes ago, DalTxHornFan said:

You guys can wring your hands all that you want, but the language Mazars utilized is standard for compilations.  They didn't just invent it for that one particular client.

I can't say I'm any kind of financial genius, but have spent a good deal of time looking at various financial statements over the years, for investment purposes (mostly audited) and legal purposes (damages and whatnot), including from some pretty sketchy businesses.  I've seen lots of "pro formas," but have never seen nor heard of a "compilation" like this.

ETA I see that it is a sort of defined term in accounting, though.

Edited by TwiceHorn
Link to comment
Share on other sites

2 minutes ago, TwiceHorn said:

I can't say I'm any kind of financial genius, but have spent a good deal of time looking at various financial statements over the years.  I've seen lots of "pro formas," but have never seen nor heard of a "compilation" like this.

I'm neither a financial genius nor a business titan, but the three types of financials I'm familiar with are compiled, reviewed, and audited.  Although I've never heard, firsthand of anyone paying for compiled financials.  I was always under the impression that compiled financials are useless when applying for a loan.

  • Hook 'Em 1
Link to comment
Share on other sites

7 minutes ago, shakahorn said:

I'm neither a financial genius nor a business titan, but the three types of financials I'm familiar with are compiled, reviewed, and audited.  Although I've never heard, firsthand of anyone paying for compiled financials.  I was always under the impression that compiled financials are useless when applying for a loan.

Yeah, given that you can't rely on them to any degree, it makes you wonder why anyone would pay to have them prepared.

Link to comment
Share on other sites

The grifting knows no bounds.

https://www.thefocus.news/tech/does-truth-social-cost-money/

 

Quote

Truth Social doesn’t currently appear on the Apple Store or Google Play Store, although former US president Donald Trump appears to be active on a beta version of the app (see below).

Ahead of its launch, those tempted to join the Truth Social app would do well to know username reservation seems to cost money in the form of a donation, although joining the wait-list is free.

 

Quote

People have been receiving texts inviting them to join Truth Social. One Twitter user described the experience in the following terms: “It was as welcome as an invitation for a root canal without Novocain.”

The text you receive contains a link to a page inviting people to sign up for Trump’s social media platform. For those who didn’t receive a text, here’s the link.

It’s a short form with the words “Response requested” at the top. The first question asks: “Would You Join Trump’s Social Media?” with every word capitalised.

 

Quote

You’re then required to enter your first and last names, an email address and a mobile phone number. 

The mobile number is required, although the accompanying text includes the sentence “if you would prefer to donate online without providing your phone number, click here” (with a link to a similar webpage asking for donations).

The question is: why redirect people to a donation page as an alternative to providing a phone number? The answer appears to be a donation is required to join the Truth Social app.

 

Quote

After submitting a valid name, email address and phone number, the webpage redirects you to the National Republican Senatorial Committee’s (NRSC’s) WinRed page to reserve your username. 

Daily Dot has screenshots of the process here. Donald Trump has been active on a beta version of the app – see below:

 

Spoiler

Truth Social allows users to join the app waiting list for free – but it doesn’t let you reserve a username. To do that, you have to make a donation to the NRSC. 

The exact figure you need to pay to gain access to the app isn’t clear, although Daily Dot’s reporting suggests it is $35. In addition, users in question-and-answer board Quora have been questioning whether joining Truth Social is “worth the $35 price tag”.

However, The Daily Dot also appears to have managed to reserve a username for as little as $1.

ABC News reported in October 2021 that Truth Social “could provide the former president with a substantial infusion of cash”. 

It is the first product of Trump’s new company, Trump Media & Technology Group (TMTG). In January, The Guardian reported TMTG agreed in October 2021 to merge with Digital World Acquisition Corp “at a valuation of $875 million”. 

If Truth Social does cost money to sign up when it finally launches this month, it would be one of a small number of social media apps to do so. Most are free to join and make their money from advertisers.

Having reserved a user name for Truth Social, Daily Dot tech writer Claire Goforth claims the webpage redirected her to the NRSC’s fundraising page.

She writes: “There begins a series of questions and offers. The questions were standard fare about whether you support Trump or plan to join Truth Social. After 13 questions and offers, each (of) which directed back to NRSC’s WinRed page, the questions dead-ended on a page asking for donations for 41 Republican senators.”

 

 

Link to comment
Share on other sites

44 minutes ago, henrygandorf said:

is it normal for former presidents to weigh in on local elections?

wonder if something else might be going on.

Wasn't there a "West Wing" episode where Bartlett wanted to chime in some local race in New Hampshire with some backwards ass guy he once went up against back in his coming-up era?   

I'd say you know a former President, who thinks he's still President, is becoming even more grossly unhinged when he starts chiming on not just state races, but local races.  But it's just Wednesday in America.  

Link to comment
Share on other sites

3 minutes ago, Lobo said:

Wasn't there a "West Wing" episode where Bartlett wanted to chime in some local race in New Hampshire with some backwards ass guy he once went up against back in his coming-up era?   

I'd say you know a former President, who thinks he's still President, is becoming even more grossly unhinged when he starts chiming on not just state races, but local races.  But it's just Wednesday in America.  

yes, somebody he ran against back in nh was running for school board something or other and bartlet knew what the polling looked like (even though nobody was doing polling on that race - he had it conducted himself).  he definitely wanted to get involved but was urged not to.

funny how often times in that show the people around him had to convince him not to get involved with things at the risk of "turning it into a story" or "giving it more oxygen".  trump interjects on everything for the exact opposite reasons.  he thinks those are good things.

still waiting to see a win/loss tally for candidates he's endorsed.  he insists it's near perfect but i don't really recall more than a couple wins (that were more likely in spite of him).  

Link to comment
Share on other sites

51 minutes ago, lemonlime said:

 

Whole letter here. https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=D/urnyeIEUE9WwMVQ72_PLUS_4g==

James filed a petition with this court to enforce her subpoenas and compel Trump et al. to produce documents.  That petition was sworn, so most of the allegations are true or believed to be true.  Petition here. https://www.scribd.com/document/553732838/NYAG-v-Trump-Org-Et-Al-Jan18th-Verified-Petition-Compel-to-Comply-with-Subpoenas

Trump et al. answered the petition by failing to admit or deny allegations that only they would have answers to.  And by failing to verify (swear to) their responses.

So, the letter is asking the court to "deem" those allegations admitted, which means they require no further proof in at least that lawsuit context, if not others.  It's not highly controversial stuff, but it would ease proof of any wrongdoing.

It is, however, a demonstration of what a bad-faith litigant Trump et al. is.  As if that is any surprise to anyone.

Fuck that guy.

Edited by TwiceHorn
  • Hook 'Em 2
  • Like 1
Link to comment
Share on other sites

26 minutes ago, TwiceHorn said:

Whole letter here. https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=D/urnyeIEUE9WwMVQ72_PLUS_4g==

James filed a petition with this court to enforce her subpoenas and compel Trump et al. to produce documents.  That petition was sworn, so most of the allegations are true or believed to be true.  Petition here. https://www.scribd.com/document/553732838/NYAG-v-Trump-Org-Et-Al-Jan18th-Verified-Petition-Compel-to-Comply-with-Subpoenas

Trump et al. answered the petition by failing to admit or deny allegations that only they would have answers to.  And by failing to verify (swear to) their responses.

So, the letter is asking the court to "deem" those allegations admitted, which means they require no further proof in at least that lawsuit context, if not others.  It's not highly controversial stuff, but it would ease proof of any wrongdoing.

It is, however, a demonstration of what a bad-faith litigant Trump et al. is.  As if that is any surprise to anyone.

Fuck that guy.

Twist in the wind, you crooked bastard.

  • Hook 'Em 1
Link to comment
Share on other sites

On 2/14/2022 at 11:37 PM, DDD Dad said:

Half a million pages. 
 

and Bates was the maker of the machine that created sequentially numbered stamps. 
 

If you were an associate or paralegal prior to 1990 you probably used one of those stamp machines. 
 

I know I did. 

Or a pharmacist any time before computers began keeping the numbers. 

 

You got to think Scotland is pretty interested in this Mazars story.   Or would he have had to have a Scottish CPA firm do all that work?   Or sign off on it.   

Would be so cool to have those courses confiscated.  Didn't most of that money come from Russia?  

 

 

  • Like 1
Link to comment
Share on other sites

  • Bozo_Casanova changed the title to Poll: President Trump's Major Announcement


×
×
  • Create New...