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FM123

(10,050 posts)
Sat Apr 13, 2019, 03:59 PM Apr 2019

Elijah Cummings moves to subpoena Trump financial records

(Politico) House Oversight and Reform Committee Chairman Elijah Cummings (D-Md.) is moving to issue a subpoena to obtain 10 years of President Donald Trump’s financial records from accounting firm Mazars USA, the chairman told members of the panel in a memo on Friday.

Cummings plans to issue the subpoena on Monday after Mazars asked for a so-called “friendly” subpoena, so that it could comply with the committee’s document demands.

In his memo, Cummings explained that the committee asked for the records as part of its efforts to corroborate allegations made by Trump’s former fixer and attorney Michael Cohen, who told lawmakers in February that Trump artificially inflated and deflated the value of his assets to his personal benefit.

Cohen turned over three of Trump’s financial statements to the committee. Some of those statements were prepared by Mazars. Cummings wrote in his memo that those documents “raise grave questions about whether the president has been accurate in his financial reporting.”

The subpoena seeks all records prepared by Mazars that relate to the president, his revocable trust and the Trump Organization, among other Trump entities. The committee will also demand that Mazars turn over all communications between Trump and Donald Bender, who is a partner at Mazars.
Read more:
https://www.politico.com/story/2019/04/12/cummings-subpoena-trump-financial-records-1273464

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Elijah Cummings moves to subpoena Trump financial records (Original Post) FM123 Apr 2019 OP
do it do it do it do it samnsara Apr 2019 #1
YES YES YES! bluestarone Apr 2019 #2
Yes yes and yes again vlyons Apr 2019 #3
Let me know when he's been served. C_U_L8R Apr 2019 #4
Action. we need action Kurt V. Apr 2019 #9
Wake me when it's been served. nt Ferrets are Cool Apr 2019 #5
And if and when they comply. Golden Raisin Apr 2019 #7
I'll bet they do. See, financial records aren't the same as taxes. machoneman Apr 2019 #10
Thank you Congressman Cummings! Evolve Dammit Apr 2019 #6
I've seen that movie -- "OK, I'm gonna do it. I really mean it this time. I'll really do it. . . " pdsimdars Apr 2019 #8
Hardly ever does it get mentioned that the most important reason to know about Trump's finances is wiggs Apr 2019 #11

machoneman

(3,952 posts)
10. I'll bet they do. See, financial records aren't the same as taxes.
Sat Apr 13, 2019, 06:56 PM
Apr 2019

In essence, it's the distillation of lots of financial records into a specific order, so to speak, that forms the basis of a tax filing. No matter how complex, difficult, far flung organizations, etc., the records do show an awful lot of details that must have been in the tax filings.

To wit, depreciation schedules, profit/loss statements, taxes paid, stock distributions and hundreds of other details can be gleaned and help paint a picture of what a tax filing (or years worth) could or did look like.

Now, even with massive 'cheating' say on the valuation of real estate in NYS (Cohen's tax evasion cliams) up or down to minimize taxes paid, until those figures hit a signed tax filing, it would be hard to prove with merely the financial records alone. But and it's a big one here, those very same records could easily butress charges that the actual tax filings did use false data.

Btw, Trump really can't stop Mazar's at all unlike the bending over backwards the IRS guy, Munchkin Mnuchin, Ghouliani and others have laready done or will do to protect Trump's filings.

Add the records and later, the tax filings, and Trump is toast per Cohen's testimony!

 

pdsimdars

(6,007 posts)
8. I've seen that movie -- "OK, I'm gonna do it. I really mean it this time. I'll really do it. . . "
Sat Apr 13, 2019, 06:31 PM
Apr 2019

Just DO it already. I am sick of all the posturing and threats. If it was any of us "regular" people who had done much less than they have, we'd be in prison already. One of my indicators of whether or not we still have a real rule of law is if they can ACTUALLY put someone rich or powerful in prison. Somehow they always just slip out of it.

wiggs

(7,788 posts)
11. Hardly ever does it get mentioned that the most important reason to know about Trump's finances is
Sat Apr 13, 2019, 11:07 PM
Apr 2019

to determine if he's compromised via money laundering, direct payoffs, conflicts of interest with foreign countries, criminal behavior such as bribes, cheating, etc that could lead to blackmail or personal enrichment.

I believe there's tons of that...if it's easier to find inaccuracies in financial reporting, fine. But it's a real possibility that there's MUCH WORSE and media, elected officials, and pundits hardly mention it.

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