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Trump Foundation agrees to dissolve with judge to oversee dispersal to other charities

TU Curmudgeon

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From NBC News

Trump Foundation agrees to dissolve with judge to oversee dispersal to other charities

The Trump Foundation — the charitable foundation started by President Donald Trump years before he became a presidential candidate, which New York's top prosecutor said exhibited a "shocking pattern of illegality" — will dissolve according to a court filing.

The foundation will give away its assets to other non-profit organizations in the next 30 days, according to an agreement between state prosecutors and the Trump Foundation.

The Attorney General’s Office for New York says that this agreement that they’ve entered into with the Trump Foundation and signed by foundation attorney Alan Futerfas.

It does not stop the lawsuit by AG’s office has filed against the foundation, which was formed in 1987 and that action will continue.

COMMENT:-

The action continues and, since there are no "Foundation" assets to be distributed, that means that about the only reason for continuing the action against "The Foundation" is to determine any criminal culpability of the directors of the "Foundation".

Until 2017 that Board consisted of Donald Trump and his three adult children (plus Trump Organization treasurer/CFO Allen Weisselberg - even though Mr. Weisselberg said that he didn't know that he was member). Not only that, but that board doesn't appear to have met for around a decade and all decisions on how the "Foundation" money was to be used were made by the Chairman of that board. Want to take a guess as to who that Chairman was?

PS - The Chairman of the board doesn't appear to have actually donated any of his own money to the "Foundation" for well over a decade.
 

Mach

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This will be the one that wakes up Trump voters, in the long trail of evidence like Trump University, his failed Casino, etc.
This is the one where the light bulb will go off and they say wow, he's really not at all what he claims.
(/sarcasm)
 
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Ikari

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This will be the one that wakes up Trump voters, in the long trail of evidence like Trump University, his failed Casino, etc.
This is the one where the light bulb will go off and they say wow, he's really not at all what he claims.
(not serious)

No it won't. The Trump Cult will not wake up, they'll just make more excuses.
 

PeteEU

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To be fair, the foundation did announce it was dissolving just after the orange cheeto won the election. But the AG blocked the dissolution due to the many issues with the foundation. The AG wanted to make sure the remaining peanuts .. 1. 9 million dollars, was not funnelled into Trump Inc as all the other money was.
 

Nickyjo

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This is what I don't understand. Trump has lots of money. Multiple of billions I am told. Why did he need to use the foundation as he reportedly did, to make settlement payments? He either is the most investigated/attacked/persecuted public figure in history, or alone among billionaires, genetically incapable of not turning everything he constructs into a hustle of some sort. Learn from the Rockefellers and Fords, Donald. People have forgotten their sins and remember their generosity. Even Nero gets some credit for good stuff he did. Listen to what Jarred and Ivanka seem to advocate.
 

Greenbeard

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This is what I don't understand. Trump has lots of money. Multiple of billions I am told. Why did he need to use the foundation as he reportedly did, to make settlement payments?

Are you suggesting he's not worth what he says he is?

source.gif
 

TU Curmudgeon

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This is what I don't understand. Trump has lots of money. Multiple of billions I am told. Why did he need to use the foundation as he reportedly did, to make settlement payments?

The term that you are looking for is "plausible deniability" (or "cover up" if you prefer).
 

Thoreau72

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No it won't. The Trump Cult will not wake up, they'll just make more excuses.

Neither will they read David Cay Johnston's book, The Making of Donald Trump. They will declare it heresy, but they will not read it.
 

Kreton

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This will be the one that wakes up Trump voters, in the long trail of evidence like Trump University, his failed Casino, etc.
This is the one where the light bulb will go off and they say wow, he's really not at all what he claims.
(/sarcasm)

Ty for the /sarcasm. I was wondering how in the hell you came to that conclusion lol.
 

Nickyjo

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Are you suggesting he's not worth what he says he is?

source.gif

Not at all. I just don’t get his behavior. I assume the settlements were not hugely painful to his finances. Why risk looking like Snidely Whiplash of the old Bullwinkle cartoons?
 

Tanngrisnir

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From NBC News

Trump Foundation agrees to dissolve with judge to oversee dispersal to other charities

The Trump Foundation — the charitable foundation started by President Donald Trump years before he became a presidential candidate, which New York's top prosecutor said exhibited a "shocking pattern of illegality" — will dissolve according to a court filing.

The foundation will give away its assets to other non-profit organizations in the next 30 days, according to an agreement between state prosecutors and the Trump Foundation.

The Attorney General’s Office for New York says that this agreement that they’ve entered into with the Trump Foundation and signed by foundation attorney Alan Futerfas.

It does not stop the lawsuit by AG’s office has filed against the foundation, which was formed in 1987 and that action will continue.

COMMENT:-

The action continues and, since there are no "Foundation" assets to be distributed, that means that about the only reason for continuing the action against "The Foundation" is to determine any criminal culpability of the directors of the "Foundation".

Until 2017 that Board consisted of Donald Trump and his three adult children (plus Trump Organization treasurer/CFO Allen Weisselberg - even though Mr. Weisselberg said that he didn't know that he was member). Not only that, but that board doesn't appear to have met for around a decade and all decisions on how the "Foundation" money was to be used were made by the Chairman of that board. Want to take a guess as to who that Chairman was?

PS - The Chairman of the board doesn't appear to have actually donated any of his own money to the "Foundation" for well over a decade.

Shut down due to illegal activity:
1. Trump University
2. Trump Foundation

Under criminal investigation:
1. Trump campaign
2. Trump transition
3. Trump inauguration
4. Trump administration
5. Trump Organization

Golly! All the bad press he gets is just SO unfair!!!
 

SenorXm/Sirius

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I'm surprised no Trumpster has come into 1 of these threads about Trump's foundation and said 'but, but, but Clinton'....

Maybe even the Trumpsters are getting tired of the daily drip, drip, drip of illegal activity of Trump, his crime family and all the criminals around him. Drain the swamp my ass.

But I doubt even this will deter many of his Cult like followers.
 

TU Curmudgeon

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Shut down due to illegal activity:
1. Trump University
2. Trump Foundation

Under criminal investigation:
1. Trump campaign
2. Trump transition
3. Trump inauguration
4. Trump administration
5. Trump Organization

Golly! All the bad press he gets is just SO unfair!!!

LOOK!!!

The President's first name is "Donald", do you see the word "Donald" as the first half of the name of anything on your list?


OF COURSE you don't.

And the President's last name is "Trump", do you see the word "Trump" as the last half of the name of anything on your list?

OF COURSE you don't.

That **P*R*O*V*E*S** that the President is **I*N*N*O*C*E*N*T**.

Well!

Doesn't it?
 

Helix

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RAMOSS

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Shut down due to illegal activity:
1. Trump University
2. Trump Foundation

Under criminal investigation:
1. Trump campaign
2. Trump transition
3. Trump inauguration
4. Trump administration
5. Trump Organization

Golly! All the bad press he gets is just SO unfair!!!

I will also point out that even though it's shutdown, there is still an ongoing investigation into the potential criminal activity of the foundation. It's being allowed to dissolve under a lot of scrutiny, so it's assets are legally distributed.
 

TU Curmudgeon

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I will also point out that even though it's shutdown, there is still an ongoing investigation into the potential criminal activity of the foundation. It's being allowed to dissolve under a lot of scrutiny, so it's assets are legally distributed.

Even if there were any of Mr. Trump's own money left in the foundation's bank accounts (and it doesn't look like there is) the amount of money involved is chump change to Mr. Trump - at least according to his published claims.
 

RAMOSS

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Even if there were any of Mr. Trump's own money left in the foundation's bank accounts (and it doesn't look like there is) the amount of money involved is chump change to Mr. Trump - at least according to his published claims.

Why, what will happen if there are criminal and civil penalities due to tax fraud, any judgements will come from the personal accounts of the people on the board. That would include Donald Jr, Eric, Ivanka and Donald Sr.
 

JoanDavis

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This is what I don't understand. Trump has lots of money. Multiple of billions I am told. Why did he need to use the foundation as he reportedly did, to make settlement payments? He either is the most investigated/attacked/persecuted public figure in history, or alone among billionaires, genetically incapable of not turning everything he constructs into a hustle of some sort. Learn from the Rockefellers and Fords, Donald. People have forgotten their sins and remember their generosity. Even Nero gets some credit for good stuff he did. Listen to what Jarred and Ivanka seem to advocate.

trump is NOT a billionaire. He has been bankrupt several times. Many of his businesses have gone bust. He has borrowed millions from Russians, Saudi Arabians and his good mate at Deutschbank (the son of former supreme court justice Kennedy).

This is why he doesn't want to release his tax returns. The world would finally see how much he is really worth.
 

JoanDavis

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LOOK!!!

The President's first name is "Donald", do you see the word "Donald" as the first half of the name of anything on your list?


OF COURSE you don't.

And the President's last name is "Trump", do you see the word "Trump" as the last half of the name of anything on your list?

OF COURSE you don't.

That **P*R*O*V*E*S** that the President is **I*N*N*O*C*E*N*T**.

Well!

Doesn't it?

I saw the name 'Trump' SEVEN times in that post. Are you suggesting because 'Donald' wasn't mentioned that this means donald trump is innocent?

UNBELIEVABLE!!!
 

The Mark

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No it won't. The Trump Cult will not wake up, they'll just make more excuses.
Even if Trump actually goes to jail (which he should if some of the allegations/accusations are true), they'll still support him.
 

JoanDavis

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Even if Trump actually goes to jail (which he should if some of the allegations/accusations are true), they'll still support him.

Many trumpsters have already said that they still support him even if he is convicted. They believe trump is above the law and allowed to do whatever he likes. Remember trump bragged about shooting someone in times square and not losing any supporters.

He has cheated on all three wives. he has been accused of sexual assault by several women. he has paid off women to shut up about his affairs. He has boasted about grabbing em by the *****. He has been accused of raping a 13 year old girl. The list goes on.

And trumpsters - including the so called far right christian evangelicals - still support him and think he was chosen by God to rule the world.
 

Manc Skipper

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So. Now you have a President with his finger on the nuclear button, who is unfit to run a New York charity.
 

TU Curmudgeon

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Why, what will happen if there are criminal and civil penalities due to tax fraud, any judgements will come from the personal accounts of the people on the board. That would include Donald Jr, Eric, Ivanka and Donald Sr.

That is quite true, and that's why the actual freezing of the "foundation" accounts is almost meaningless.
 
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