Trump real estate deal looks awfully like criminal tax fraud

[WeToddDid2]

Agreed. It could be a legit transaction, assuming Trump acquired the condo in a legit, arms length transaction for $350 from a disinterested party. What are the chances of that? Maybe barely finite at best. When you do "all sorts of things in a transaction" that has the aroma of 4 day old fish it would seem the opportunity and the chance that something was done that goes beyond clever all the way to illegal go up in proportion to the number of things done and the strength of the aroma. If you were to throw into that mix of all sorts of things, a gangster that has been sued over 4000 times, had four bankruptcies, been sued successfully for fraud, has a well established reputation as a liar, is a member of the Professional Wrestling Hall of Fame, and then add in that the transaction involved a member of the Gangster's immediate family, wouldn't you expect the odds of something illegal having been done to go up considerably?

He is a member of the Professional Wrestling Hall of Fame? Well, that does it.

 

[piezoe]

The properties were not owned by Donald and sold to Eric. From what I have read so far, that is not correct.

According to Propublica, which is generally very reliable. a limited liability company managed by Trump sold two condominium apartments to a limited liability company managed by Eric Trump.

 

[piezoe]

The properties were not owned by Donald and sold to Eric. From what I have read so far, that is not correct.

Again, you are looking at it totally from your laymen perspective. A laymen that doesn't have what is most likely hundreds if not thousands of entities domiciled or incorporated all over the world with a team of CPAs and lawyers. A laymen that doesn't own billions in RE assets.

The properties where transferred from one entity to another entity. Why did that happen? Is Donald Trump a member of both LLCs? Just because Donald is manager of one entity and Eric is the manager of the other entity doesn't mean that Donald isn't a member of both entities. Besides the manager can be replaced. Just replace Donald as the manager and boom there you go. Donald could be the majority member of both entities regardless of who is the manager. Donald could be the 55% member of both entities. The membership structure in both entities could be identical. It is very possible that Donald was the manager of many LLCs and had to replaced as the manager when he became president. Perhaps the low selling price really wasn't a selling price but the properties were transferred at the cost basis to another entity. There are a ton of potential legitimate reasons for the properties to be transferred from one entity to another. I can list some of them for you if you wish.

The article assumes and probably falsely that Donald sold the properties to Eric. All that is known is that the properties were transferred from one entity to another.

None of the above is even apparently crossing your mind due to you blatant ignorance.

Why does it have to be a gift?

Furthermore, according to the article the properties were not owned by Donald. They were owned by a company. It was owned by a LLC and trasferred to another LLC.

Again, this is a great example of a completely ignorant journalist writing an article that they know nothing about and implying that something nefarious happened. In other words, the author is just completely making shit up and so are you.

At this point, this is simply a conspiracy theory.

I didn't waste my time reading the article. I just read some of the post.

However, the following is completely misleading: "but two months before the sale to Eric Trump’s LLC".

It is not Eric Trump's LLC. That is not what any person with any knowledge of LLCs would state. A person would state that Eric is the managing member. Who are the members of the LLC and at what are the member's percentages? Also, Eric may now be the managing member of all of the Trump Org entities. Does that mean that they are now all his entities and he owns all of Trump real estate? No, it does not.

It is probably advisable that you stop making comments regarding RE transactions.

It sounds as though the LLC structure was used for the purpose of concealing the real nature of the sale which appears to include a substantial gift from Trump to his son Eric. By doing this, were Trump to get away with it, he would avoid having the amount of the gift in excess of 14K charged against his lifetime estate tax exemption. If this is true, than the transaction, once exposed, will not be allowed shelter behind the veil of an LLC. The Trump LLC may have also claimed a capital loss on the sale! We will have to wait until Mueller's boys are finished with examining Trumps returns and finished questioning witnesses under oath. Let's wait and see what happens, shall we.

I expect this is just the tiniest tip of the Trump Tax filings iceberg. Who has the more competent attorneys do you think, Trump or Mueller?

 

[piezoe]

But Trump said it was a sale,not a gift

How succinctly you've summarized the matter! How succinctly indeed!

 

[peilthetraveler]

But Trump said it was a sale,not a gift

Well then...that settles it. It wasn't a gift. It was some kind of creative real estate sale using completely legal loopholes you don't know about.

 

[WeToddDid2]

According to Propublica, which is generally very reliable. a limited liability company managed by Trump sold two condominium apartments to a limited liability company managed by Eric Trump.

yeah, how much of the membership interest does Eric own? How many members are there?

 

[piezoe]

yeah, how much of the membership interest does Eric own? How many members are there?

These questions are of no immediate interest to me.
If your questions really interest you there are no doubt public filings you could research.

 

[piezoe]

using completely legal loopholes

I think that is part of a current investigation. Perhaps it is premature to draw conclusions, especially since you have insufficient information to support them. I've not drawn any conclusions myself. But I have laid out some possibilities that intrigue me.

 

[WeToddDid2]

It sounds as though the LLC structure was used for the purpose of concealing the real nature of the sale which appears to include a substantial gift from Trump to his son Eric. By doing this, were Trump to get away with it, he would avoid having the amount of the gift in excess of 14K charged against his lifetime estate tax exemption. If this is true, than the transaction, once exposed, will not be allowed shelter behind the veil of an LLC. The Trump LLC may have also claimed a capital loss on the sale! We will have to wait until Mueller's boys are finished with examining Trumps returns and finished questioning witnesses under oath. Let's wait and see what happens, shall we.

I expect this is just the tiniest tip of the Trump Tax filings iceberg. Who has the more competent attorneys do you think, Trump or Mueller?

Without a doubt Trump has better tax attorneys. The article and everything that you are saying is completely made up bullshit.

 

[piezoe]

Without a doubt Trump has better tax attorneys. The article and everything that you are saying is completely made up bullshit.

What I like about ET is it allows me to connect with slower less agile minds. And that's what helps keep me in touch with the other world that I know is out there. That's essential.