Started By
Message
re: OT- Apparently Buck Belue is a Liberal
Posted on 10/6/23 at 10:19 am to FinleyStreet
Posted on 10/6/23 at 10:19 am to FinleyStreet
quote:
auditing firm
It's an accounting firm, they don't audit shite. They don't make the numbers, they use the numbers provided by the Trump Org. Mazar's was the accounting firm, I believe. They were subpoenaed for records and conceded that fraud occurred, distancing themselves from the fraud in the process.
Article showing statements from Mazar's saying the last decade of Trump financial statements are unreliable.
ETA: This is why Alan Weisenberg went to jail.
This post was edited on 10/6/23 at 10:22 am
1
Posted on 10/6/23 at 10:26 am to deeprig9
Trump is a billionaire only if debts are considered assets. Donald is the world's biggest beggar. Billionaires don't spend every minute thinking about how to beg for more money.
Posted on 10/6/23 at 10:26 am to mmmmmbeeer
I still don't really get it. I can't speak to the Trump case, but the industry standard is to present lenders with audited financials in order to get debt. Of course rich people get to bend rules a lot but in normal circumstances you're not going to get some big arse loan without audited financials.
Did the lenders give Trump the money before or after the Mazars review came out?
Did the lenders give Trump the money before or after the Mazars review came out?
Posted on 10/6/23 at 10:33 am to FinleyStreet
quote:
Did the lenders give Trump the money before or after the Mazars review came out?
He received loans based on the financial statements prepared by Mazars.
Posted on 10/6/23 at 10:47 am to mmmmmbeeer
If they lended Trump the cash and knew full well that the F/S were unreliable beforehand, then yes, the lenders are absolutely fricking retarded.
Does that mean Trump is fraudulent though? Depends on what you can prove, which is probably why he and his CFO were acting like they don't know how to count to three. Can't be fraudulent if you're too dumb to read a balance sheet. That strategy actually makes a lot of sense now. Thanks for clarifying.
I don't personally buy their (alleged) ignorance, but it's not what you believe it's what you can prove.
Does that mean Trump is fraudulent though? Depends on what you can prove, which is probably why he and his CFO were acting like they don't know how to count to three. Can't be fraudulent if you're too dumb to read a balance sheet. That strategy actually makes a lot of sense now. Thanks for clarifying.
I don't personally buy their (alleged) ignorance, but it's not what you believe it's what you can prove.
Posted on 10/6/23 at 11:07 am to FinleyStreet
quote:
Technically he's being accused of both - understating assets for tax purposes and overstating assets to get debt from lenders.
My understanding is this is a semi common practice accordi g to whose evaluations the lenders accept...
If Trump was behind in paying his debts I could understand the Government coming after him with barred teeth and wanting their lb of flesh.
BUT... none of his lenders are concerned, debts are being paid and everyone is happy except for the NYC DA who based her whole campaign on getting Trump...
Posted on 10/6/23 at 11:28 am to dallasga6
Agree with Dallas. If Trump inflated assets to get a huge loan, then never paid it back, then the lender goes after the assets as collateral and discovers they are actually worthless, then I could see a civil and/or criminal cause of action. But in this case, none of that happened.
Posted on 10/6/23 at 11:33 am to deeprig9
quote:
But in this case, none of that happened.
The whole case is garbage. Holier than thou leftists pretending to understand finances. It's embarrassing to watch sheeple talk run their mouths about this. Whether you like Trump or not, this whole case should scare you because if the government can do this to an ex President, they will do it to you in a heartbeat.
Posted on 10/6/23 at 11:39 am to deeprig9
I didn't get that impression at all.
Buck has a very dry sense of humor.
And he has struck me over the years as a conservative, he lives in Forsyth County if that's any indication.
And Celini and Dimino weren't being serious.
Buck has a very dry sense of humor.
And he has struck me over the years as a conservative, he lives in Forsyth County if that's any indication.
And Celini and Dimino weren't being serious.
Posted on 10/6/23 at 12:35 pm to FinleyStreet
quote:
I saw in article recently where Trump's CFO claims he's not familiar with GAAP, which is like Gordon Ramsey saying he's not familiar with potatoes.
I found an article where the deposition is quoted. The CFO says he's not a CPA and never studied for the CPA, so he's not an expert in all the components of GAAP. CFO's in medium and large businesses are not accountants, they may have an accounting background, but typically the real accounting work goes to a Big4 or some internal underlings who do the actual real accounting which is then audited by a big4. So this isn't the big gotcha that people are making it out to be. On the other hand, if the CFO was doing the hands on accounting for the business, and claimed to not know shite about GAAP, that would be a big problem. But it still wouldn't necessarily be criminal unless it was a publicly traded company. That's how I understand the situation. I also am not an accountant but did take two accounting classes at UGA. A long time ago.
Posted on 10/6/23 at 12:52 pm to deeprig9
quote:
I also am not an accountant but did take two accounting classes at UGA. A long time ago.
Back when admissions were letting any Tom, Dick, and Harry in?
I kid, I kid.
Posted on 10/6/23 at 1:00 pm to retooc
quote:
Back when admissions were letting any Tom, Dick, and Harry in?
I kid, I kid.
4.0
27 act
1290 sat
But as a suburban middle-class white male I could never get in with that today.
Thanks to liberals like Buck Belue and mmmmmmbeer and Whiznot.
Posted on 10/6/23 at 1:36 pm to deeprig9
The thing is, you know what GAAP is if you're a CFO working at a company like that, whether or not you're a CPA. GAAP is day 1 accounting/finance stuff, which is his background by trade. I'm not saying the guy is a criminal but I do think he's being disingenuous. I don't know that you'd find many accounting folks that would take his comments at face value, but I could be wrong.
I do agree with y'all that this case is probably a dead end, though. A lot of the details around it don't make any sense to me at all.
I do agree with y'all that this case is probably a dead end, though. A lot of the details around it don't make any sense to me at all.
Posted on 10/6/23 at 1:39 pm to FinleyStreet
quote:
I don't personally buy their (alleged) ignorance, but it's not what you believe it's what you can prove.
Trump Org has already been found guilty of civil fraud...their claims of ignorance didn't work.
This week's hearings are about setting the penalties. They waived a jury and are leaving it up to the judge.
This post was edited on 10/6/23 at 1:42 pm
Posted on 10/6/23 at 1:46 pm to retooc
quote:
Back when admissions were letting any Tom, Dick, and Harry in?
Imma guilty...
Got my skin in spring of '77...
Wondered how the frick I did it...
Posted on 10/6/23 at 1:46 pm to mmmmmbeeer
Interesting, I guess there's a lot of things I'm not aware of then.
Posted on 10/6/23 at 2:12 pm to FinleyStreet
quote:
The thing is, you know what GAAP is if you're a CFO
He didn't say he didn't know what GAAP is. He said he's not an expert on GAAP on "all of the components" because he's not an accountant. There is a difference between not knowing what it is and claiming not to be an expert.
Posted on 10/6/23 at 2:12 pm to deeprig9
quote:
4.0
27 act
1290 sat
Posted on 10/6/23 at 2:13 pm to mmmmmbeeer
Who were the plaintiffs and what are claimed as actual damages in the suit?
Posted on 10/6/23 at 2:35 pm to deeprig9
Fair enough and on second thought, he did plead guilty for tax fraud so he probably doesn't know shite.
Page 3 of 9
Latest Georgia News
Popular
Back to top
Follow SECRant for SEC Football News