shabby473626 karma2018-12-19 18:22:17 UTC
You are probably too busy to see this response, but one thing I noticed was that Chicago Unit Acquisition LLC was formed on the same day he announced he was going to renovate his Atlantic City casinos (December 15, 2005: https://nypost.com/2005/12/15/the-donald-gets-back-his-mojo/
SEC filings from the time show that the amount was going to be $110M invested into the upgrades.
(Edited here to add link to SEC filing: https://www.sec.gov/Archives/edgar/data/943320/000119312506053345/d10k.htm )
Now, from what it seems, the way that All County worked, was basically they charged double for the repairs and pocketed a 100% difference. If Chicago LLC had ~$50M to "lend" back to Trump, and it was formed right when his casinos were pumping $110M into renovations, is it possible that in reality, only $50M worth of work was actually done, and the extra $50M was funneled to this weird business that only exists on paper? Who knows where that extra cash could have come from.
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shabby472589 karma2018-12-19 17:36:57 UTC
Ok. So we all saw the NYT report this last year that dealt with the history of the Trump family's finances. One of the things that really stood out was the fake company All County Building Supply & Maintenance that they set up to transfer money from Fred to the children, without paying the normal taxes. (For those unfamiliar, Fred Trump's company would do upgrades for a building of say $500,000 and then this second company would pay the $500,000 to the contractors, but bill Fred for $1M, the extra $500k would then be passed on to the company's employees, which were the Trump children, essentially transferring that money to them and avoiding gift or estate taxes on it.)
Trump himself has a company Chicago Unit Acquisition LLC that you have tried to report on, but found nothing. He claims that he owns the company, that it is worth nothing, but also that he owes it $50M dollars. The issue here is that if it is owed $50M, then it should be worth that much in theory, which is just weird on its own.
Is there any chance that a similar situation to All County Building Supply & Maintenance is going on here, where this company was funded by inflating costs somewhere else and then the money was given directly to the Trump Org. as a loan (with no real payback) to skirt taxes?
shabby4749 karma2019-04-16 16:55:38 UTC
What do you think the Mueller (Barr) report on Thursday will include, and what will it leave out?
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