U.S. Supreme Court sets the stage for release of Trump tax returns

[webfact]

U.S. Supreme Court sets the stage for release of Trump tax returns

By Lawrence Hurley

 

FILE PHOTO: U.S. President Donald Trump departs on travel to West Point, New York from the South Lawn at the White House in Washington, U.S., December 12, 2020. REUTERS/Cheriss May/File Photo

 

WASHINGTON (Reuters) - Donald Trump suffered a major setback on Monday in his long quest to conceal details of his finances as the U.S. Supreme Court paved the way for a New York City prosecutor to obtain the former president's tax returns and other records as part of an accelerating criminal investigation.

 

The justices without comment rebuffed Trump's request to put on hold an Oct. 7 lower court ruling directing the Republican businessman-turned-politician's longtime accounting firm, Mazars USA, to comply with a subpoena to turn over the materials to a grand jury convened by Manhattan District Attorney Cyrus Vance, a Democrat.

 

"The work continues," Vance said in a statement issued after the court's action.

 

Trump issued a statement describing Vance's investigation as part of "the greatest political witch hunt in the history of our country," accusing New York Democrats of expending their energy on taking down a political opponent instead of tackling violent crimes.

 

"That's fascism, not justice - and that is exactly what they are trying to do with respect to me, except that the people of our Country won't stand for it," Trump added.

 

The Supreme Court's action does not require Trump to do anything. The records involved in the dispute were requested from a third-party, Mazars, not Trump himself. Vance previously told Trump's lawyers his office would be free to immediately enforce the subpoena if the justices rejected Trump's request.

 

A Mazars spokesman said the company "remains committed to fulfilling all of our professional and legal obligations."

 

Unlike all other recent U.S. presidents, Trump refused to make his tax returns public. The data could provide details on his wealth and the activities of his family real-estate company, the Trump Organization.

 

The Supreme Court's action, which followed Vance's hiring this month of a prominent lawyer with deep experience in white-collar and organized-crime cases, could boost the district attorney's investigation into the Trump Organization following a flurry of recent subpoenas.

 

Reuters reported on Friday that Vance's office had subpoenaed a New York City property tax agency, suggesting prosecutors are examining Trump's efforts to reduce his commercial real-estate taxes for possible evidence of fraud.

 

The Supreme Court, whose 6-3 conservative majority includes three Trump appointees, had already ruled once in the subpoena dispute, last July rejecting Trump's broad argument that he was immune from criminal probes as a sitting president.

 

 

Donald Trump suffered a major setback on Monday in his long quest to conceal details of his finances as the U.S. Supreme Court paved the way for a New York City prosecutor to obtain the former president's tax returns and other financial records as part of a criminal investigation. This report produced by Yahaira Jacquez.

 

Trump, who left office on Jan. 20 after losing the Nov. 3 election to Democrat Joe Biden, continues to face an array of legal issues concerning personal and business conduct.

 

Vance subpoenaed Mazars in 2019 seeking Trump's corporate and personal tax returns from 2011 to 2018. Trump's lawyers sued to block the subpoena, arguing that a sitting president has absolute immunity from state criminal investigations.

 

The Supreme Court in July rejected those arguments but said Trump could raise other subpoena objections. Trump's lawyers then told lower courts the subpoena was overly broad and amounted to political harassment. U.S. District Judge Victor Marrero in August and the New York-based 2nd U.S. Circuit Court of Appeals in October rejected those claims.

 

Vance's investigation initially focused on hush money paid by Trump's former lawyer and fixer Michael Cohen before the 2016 election to adult-film actress Stormy Daniels and former Playboy model Karen McDougal. The two women said they had sexual encounters with Trump, which he denied.

 

In recent court filings, Vance suggested the probe is now broader and could focus on potential bank, tax and insurance fraud, as well as falsification of business records.

 

"The Supreme Court has now proclaimed that no one is above the law. Trump will, for the first time, have to take responsibility for his own dirty deeds," Cohen said in a statement.

 

The court on Monday separately turned away Daniels' bid to revive her defamation lawsuit against Trump.

 

In separate litigation, the Democratic-led U.S. House of Representatives is seeking similar Trump records from Mazars and Deutsche Bank.

 

The New York Times reported last year that Trump had paid $750 in federal income taxes in both 2016 and 2017, and no income taxes in 10 of the prior 15 years, reflecting chronic business losses that he used to avoid paying taxes. Trump has disputed the Times report.

 

(Reporting by Lawrence Hurley; Additional reporting by Karen Freifeld and Jason Szep; Editing by Will Dunham)

 

-- © Copyright Reuters 2021-02-23

 

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[Tug]

Good let’s see how much he ripped off the country monetarily we allready have a pretty good idea of the physiological damage 

 

 

[simple1]

Finally! Based on the family track record I've always though trump organisation was involved with money laundering for corrupt Russians in the US, along with other criminal activities. Will be fascinating to read the outcomes of the investigation. Hopefully I'm incorrect with my assumptions, would be sad that millions of US citizens were duped to vote a criminal into Office.

Edited February 22, 2021 by simple1

[pegman]

Well Trump might believe the American public will be upset but with a post Jan 6 approval rating of 30% it won't be many of them. If karma does it's work The Donald will be getting fitted with a jumpsuit matching his fake tan tone. 

[Credo]

The investigation needs to be based on some credible reason.  They cannot just ask for the tax records and then go on a fishing expedition to see 'what they can find.'   

 

Unless the IRS is behind it, and it doesn't appear that they are, then they must have a credible reason based on reasonable suspicion.   

 

 

[candide]

That's the kind of thread about Trump that I like! ????

[Andy from Kent]

The likelihood of #45 spending ANY time behind bars is nil.    His money and connections will unfortunately allow him to remain free and continue spewing hate and vitriol comments.

 

I hope I'm wrong but I don't think I am.

[sirineou]

1 minute ago, Andy from Kent said:

The likelihood of #45 spending ANY time behind bars is nil.    His money and connections will unfortunately allow him to remain free and continue spewing hate and vitriol comments.

 

I hope I'm wrong but I don't think I am.

Unfortunately, I am afraid you are not wrong. 

[pacovl46]

Please let him go to prison, please, please, pretty please with lots of sugar on top! 

[Scott]

Troll post removed.

 

[Jeffr2]

27 minutes ago, Andy from Kent said:

The likelihood of #45 spending ANY time behind bars is nil.    His money and connections will unfortunately allow him to remain free and continue spewing hate and vitriol comments.

 

I hope I'm wrong but I don't think I am.

I've seen many go to jail over business fraud. Many. It's a possibility, but we won't know how big a possibility until we know how big was the fraud.

 

Campaign finance violations? No.

 

massive fraud in his real estate deals? If found, entirely possible. Look at Capone. Martha Stewart. Enron. Peregrine. Etc.

[Credo]

10 minutes ago, Jeffr2 said:

I've seen many go to jail over business fraud. Many. It's a possibility, but we won't know how big a possibility until we know how big was the fraud.

 

Campaign finance violations? No.

 

massive fraud in his real estate deals? If found, entirely possible. Look at Capone. Martha Stewart. Enron. Peregrine. Etc.

Hopefully, he'll write a book while in jail, "The Art of the Steal."

 

[TheFishman1]

The worst most corrupt president in American history

[fangless]

1 hour ago, Credo said:

they must have a credible reason based on reasonable suspicion.   

Well there is a ton load of that around, so no problem there.

Bring out the tax returns!

[cmarshall]

1 hour ago, Andy from Kent said:

The likelihood of #45 spending ANY time behind bars is nil.    His money and connections will unfortunately allow him to remain free and continue spewing hate and vitriol comments.

 

I hope I'm wrong but I don't think I am.

 

So far, the biggest threat is the NY investigations, in particular Vance's, since it is a criminal investigation.  NY AG Tish James's investigation may turn into a criminal investigation, but it hasn't yet.  The GA prosecution by Fulton County DA Fani Wills might well get a conviction, since the evidence is so strong and Fulton County is heavily Black, but the penalties for those charges are apparently light.

 

The best prospect for seeing Trump in prison is if the US Dept of Justice prosecutes Trump for any of his many crimes.  For instance, the equivalent federal statutes against trying to get a state official to stuff the ballot come with much more substantial penalties than the GA version.  It would be satisfying to see Trump convicted of treason or incitement to insurrection, but I think there are easier cases to prove.

 

We will know if Garland's DoJ is willing to go after Trump, if after Garland is sworn in the US Attorney for the Southern District of NY charges Trump for the same offenses that they charged Michael Cohen when they named Trump as an unindicted co-conspirator.  That case is oven-ready.

 

But will Garland go there?

[vandeventer]

Again it's too late he is not in power!!! But it would be a good idea to look into The Big Guy's tax returns!

[Jeffr2]

8 minutes ago, vandeventer said:

Again it's too late he is not in power!!! But it would be a good idea to look into The Big Guy's tax returns!

Why is it too late to prosecute him for crimes committed over the past decades?  It's called corruption. Never to late to investigate that.

[OneMoreFarang]

I am sure Trump thought "his" supreme court judges support him.

It must be a real surprise for Donald that those judges don't act as if the mafia boss hired them.

[mtls2005]

I assume the IRS will now hand over trump's tax returns to the House Ways and Means Committee?

 

Maybe some news on March 3?

 

https://thehill.com/policy/finance/537259-judge-extends-order-requiring-advance-notice-to-trump-in-tax-returns-case

[Paul Henry]

To say there is no evidence of Trumps crooked actions is ludicrous. His own personal lawyer who was privy to the cheating and lies has sworn under oath that Trump was over valuing his assets for the banks and under stating them for the tax and insurance purposes. That is evidence enough to start an investigation and possible legal action. Also lets not forget the campaign finance violations in relation to his adulterous liaisons with porn stars. Proof has been presented look at the checks he signed if in doubt.

[mtls2005]

Insurance company: I'd like to insure my property for $ 5million.

 

Bank: I'd like to borrow $10 million using my property as colalteral. It is valued at $20 million.

 

Local tax authority: My property is valued at $1 million dollars.

 

NFL: I'd like to buy the Bills. My property is worth $ 1.5 Billion (using Dr. Evil voice.)

 

 

[Saddic]

This was the only way they could get Al Capone...  No one escapes the IRS...

[Eric Loh]

38 minutes ago, Saddic said:

This was the only way they could get Al Capone...  No one escapes the IRS...

Appropriately a well-known mob lawyer Mark Pomerants was roped in by DA Vance as special assistant DA. An forensic accountant with expertise in white collar crimes and regulation matters who prosecuted the Gambino boss John Gotti. Trump is in deep poo-poo. 

Edited February 23, 2021 by Eric Loh

[Patong2021]

1 hour ago, vandeventer said:

Again it's too late he is not in power!!! But it would be a good idea to look into The Big Guy's tax returns!

The  legal action started in 2011 and was from the grand jury seeking Trump personal and business records. Trump  legal defense fought and appealed each decision  that they lost. Part of the probe involves hush-money payments Trump lawyer Michael Cohen made to cover up alleged extramarital affairs. The money was paid in allegedly illegal manner and was  part of a  tax avoidance scheme.

 

In case you forgot, when  Trump was running for President in 2015/2016  he refused to release his tax returns using the excuse that he was under IRS audit and  had legal  cases outstanding. Trump ran the clock like the   gangland guys do. He delayed and delayed and now he has lost. because there was a delay of his own doing is not a reason not to hand over the documents.  

 

I find it amusing that a court stacked with his allies ruled against him without  any dissenting opinion. That says it all.

[vandeventer]

1 hour ago, Jeffr2 said:

Why is it too late to prosecute him for crimes committed over the past decades?  It's called corruption. Never to late to investigate that.

That's what the the IRS is there for!

[placeholder]

2 minutes ago, vandeventer said:

That's what the the IRS is there for!

Republicans disagree:

Tax Dodger Donald Trump Is Looking Out for His Own Kind
The president and his Republican allies have continually slashed the IRS budget, dramatically impacting tax-fraud enforcement

https://www.esquire.com/news-politics/a23580840/donald-trump-republicans-slash-irs-funding-enforcement/

[Chomper Higgot]

5 minutes ago, vandeventer said:

That's what the the IRS is there for!

No it is not what the IRS is there for.

 

Crimes are prosecuted by the DoJ.

 

 

[vandeventer]

5 minutes ago, vandeventer said:

That's what the the IRS is there for!

You Dems. are trying everything to stop him from running in 2024.What next are you going to hit him over the head with the kitchen sink?

[placeholder]

2 minutes ago, vandeventer said:

You Dems. are trying everything to stop him from running in 2024.What next are you going to hit him over the head with the kitchen sink?

Law enforcement has something even more powerful than a kitchen sink: a subpoena.

[cmarshall]

6 minutes ago, vandeventer said:

You Dems. are trying everything to stop him from running in 2024.What next are you going to hit him over the head with the kitchen sink?

 

You'll be relieved to know that imprisonment is not a barrier to running for president.  Socialist Eugene V. Debs ran for president from prison in 1920 and got a million votes.