They’ve indicted the CFO of the Trump Organization on what amounts to improper business expenses and receiving non-monetary compensation without claiming it as income. If this is all they have Democrats in NY state are desperate. If the allegations are true there should be fines but I don’t think any of it is worthy of jail time. What the big banks did prior to the 2008 economic collapse is far worse than anything they’re attributing to Allen Weisselberg.
This looks to me like tactics to pressure Weisselberg into turning on Trump.
The top charge for Mr. Weisselberg—grand larceny in the second degree—is a felony that, upon conviction, carries a maximum sentence of 15 years in prison. Mr. Weisselberg was charged with 15 counts. In addition to grand larceny, prosecutors charged him with scheme to defraud, conspiracy, four counts of criminal tax fraud and other crimes.
The Trump Organization was charged with 10 counts, including scheme to defraud and four counts of criminal tax fraud.
Wall Street Journal
The more broad investigation into bank and insurance fraud also sounds like a witch hunt to me. It is a common practice to provide low appraisals to insurance companies while providing high appraisals to banks for loans. Appraisals are nothing more than an opinion of what something is worth.
The indictment represents a slice of a broader investigation by the office of Manhattan District Attorney Cyrus Vance Jr. , which has been working with New York State Attorney General Letitia James, into potential bank, insurance and tax fraud at the Trump Organization. They have subpoenaed Mr. Trump’s lenders, an insurance broker and New York towns and secured the former president’s tax returns after a legal battle that went to the U.S. Supreme Court twice.
Wall Street Journal
We’ll see how far this goes!