Yeah, you obviously don't know what you're talking about. A fine isn't a credit debt (like what you keep referring to with receiverships). It's a fine. Two legally distinct types of debts.
Second of all, I don't know what you don't seem to understand about that 4th amendment here. It prevents Trump from having to surrender his personal property (he wholely owns the entire company), to the government for any reason other than owed back taxes. If nothing else, he would simply have to pay the fine, not surrender control of his properties and liquidate them.
And finally, a quick look at Trumps ACTUAL website proves you wrong on where his property concentration is.
A grand total of 71 unique properties, of which 25 reside in NY. So yes my obviously exaggerate 99% wasn't true, but 65% of the Trump Groups assets and property lie outside of the Jurisdiction of NY. In fact, 18 properties, or a little over 25% of the Trump Groups assets/Properties, are in foreign nations, where not a single judge in the United States has Authority to "dissolve the organization".
For the record, Mar-A-Lago alone has an estimated Value of a little over $300 MIllion. So considering Trump's Estimated Net Worth is $2.2 Billion last I checked, Mar-A-Lago makes up 13.6% of his Net Worth.
The majority of Trumps Net Worth DID fall in New York at one point, but that's not true anymore. The majority of his Major properties have lost value and income over the past several years as NY, Chicago, etc have run the cities into the ground. On the other hand, Florida, where Trump has 7 Large scale properties, is where the largest portion of his Net Worth is now located, because property values and cap rates (The financial measure of income generated from real estate) have sky rocketed in Florida and other Southeastern States in the same period of time.
If you wanna get technical, all of his Indian Properties are up there now too since India is becoming China 2.0 in terms of economic growth, meaning it's a hotbed for rapid development.
I read that many years ago, the Rockefeller Center was sold for mega millions.
The property was owned by a trust. The "buyer" simply set up a new trust and funded it with mega millions. Then, the trust that owned the real estate and the trust that owned the cash simply switched trustees.
Abracadabra ... no recognizable sale was made, but each party got what they wanted.
Lots of these games can be played, especially for the Rockefellers, who have trusts that were established prior to the tax law changes in 1969, making their trusts forever tax free.
When Mitt Romney ran for president, he disclosed assets and tax returns. He had a $100 million IRA. Hard to do if you are saving $5,000 per year and investing in mutual funds.
But ... if you are doing private equity deals, using Cayman Islands structures, along with some sophisticated partnership structures that your IRA owns a part of, it is easy peasy.
I have no idea what Trump's finanical structure looks like behind the scenes, but I would bet he will be alright, financially.
You can look at page 32 of the judges ruling for "entity defendants" to see what companies are involved.
There's two LLCs with DJT holdings in the name that sit atop the Trump organization and basically all the LLCs were most of them roll up into them. These entities in addition to Trump and his family, the corporations themselves were were found to be liable for fraud.
It's also clear that property outside NY is involved in this case. For example, 401 North Wabash venture, LLC is about the Trump hotel in Chicago. There's another LLC named after the old post office in DC that became the Trump hotel.
How many of the businesses outside New York City are worth anything close to what 40 Wall Street is worth? That's why I mentioned valuation, not just number of buildings. Oh, and the assessed value of Mara Lago is included in part of the trial. It's actually one of the things that was found to be fraudulent in this ruling.
Yeah, you obviously don't know what you're talking about. A fine isn't a credit debt (like what you keep referring to with receiverships). It's a fine. Two legally distinct types of debts.
Second of all, I don't know what you don't seem to understand about that 4th amendment here. It prevents Trump from having to surrender his personal property (he wholely owns the entire company), to the government for any reason other than owed back taxes. If nothing else, he would simply have to pay the fine, not surrender control of his properties and liquidate them.
And finally, a quick look at Trumps ACTUAL website proves you wrong on where his property concentration is.
https://www.trump.com/
A grand total of 71 unique properties, of which 25 reside in NY. So yes my obviously exaggerate 99% wasn't true, but 65% of the Trump Groups assets and property lie outside of the Jurisdiction of NY. In fact, 18 properties, or a little over 25% of the Trump Groups assets/Properties, are in foreign nations, where not a single judge in the United States has Authority to "dissolve the organization".
For the record, Mar-A-Lago alone has an estimated Value of a little over $300 MIllion. So considering Trump's Estimated Net Worth is $2.2 Billion last I checked, Mar-A-Lago makes up 13.6% of his Net Worth.
The majority of Trumps Net Worth DID fall in New York at one point, but that's not true anymore. The majority of his Major properties have lost value and income over the past several years as NY, Chicago, etc have run the cities into the ground. On the other hand, Florida, where Trump has 7 Large scale properties, is where the largest portion of his Net Worth is now located, because property values and cap rates (The financial measure of income generated from real estate) have sky rocketed in Florida and other Southeastern States in the same period of time.
If you wanna get technical, all of his Indian Properties are up there now too since India is becoming China 2.0 in terms of economic growth, meaning it's a hotbed for rapid development.
Side note (you might find this interesting):
I read that many years ago, the Rockefeller Center was sold for mega millions.
The property was owned by a trust. The "buyer" simply set up a new trust and funded it with mega millions. Then, the trust that owned the real estate and the trust that owned the cash simply switched trustees.
Abracadabra ... no recognizable sale was made, but each party got what they wanted.
Lots of these games can be played, especially for the Rockefellers, who have trusts that were established prior to the tax law changes in 1969, making their trusts forever tax free.
When Mitt Romney ran for president, he disclosed assets and tax returns. He had a $100 million IRA. Hard to do if you are saving $5,000 per year and investing in mutual funds.
But ... if you are doing private equity deals, using Cayman Islands structures, along with some sophisticated partnership structures that your IRA owns a part of, it is easy peasy.
I have no idea what Trump's finanical structure looks like behind the scenes, but I would bet he will be alright, financially.
You can look at page 32 of the judges ruling for "entity defendants" to see what companies are involved.
There's two LLCs with DJT holdings in the name that sit atop the Trump organization and basically all the LLCs were most of them roll up into them. These entities in addition to Trump and his family, the corporations themselves were were found to be liable for fraud.
It's also clear that property outside NY is involved in this case. For example, 401 North Wabash venture, LLC is about the Trump hotel in Chicago. There's another LLC named after the old post office in DC that became the Trump hotel.
How many of the businesses outside New York City are worth anything close to what 40 Wall Street is worth? That's why I mentioned valuation, not just number of buildings. Oh, and the assessed value of Mara Lago is included in part of the trial. It's actually one of the things that was found to be fraudulent in this ruling.
https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=SW20FJCsispWwDnx1ms5Dw==&system=prod