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Trump Org. fined $1.6 million after conviction for 17 felonies

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A New York judge penalized the Trump Organization $1.6 million – the maximum penalty – on Friday for conducting a decade-long tax fraud scheme, a landmark moment because it is the only criminal conviction that has come close to Donald Trump.

Last month, two Trump companies, The Trump Corp. and Trump Payroll Corp., were convicted of 17 offenses, including tax evasion and falsifying corporate records.

Under New York law, corporations can only be penalized up to $1.6 million, which the Trump Organization can afford.

Prosecutor Joshua Steinglass asked Judge Juan Merchan to levy the maximum sentence on the Trump Organization, although he admitted that it would have “little impact” on a multibillion-dollar corporation.

“We all know that these organizations cannot go to jail like Allen Weisselberg,” Steinglass said on Friday, referring to the Trump Organization’s long-time chief financial officer, who was sentenced to five months in prison earlier this week as part of a plea deal with prosecutors. “The only way to stop someone from doing something like this is to make it as expensive as possible.”

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This Verdict Was Momentous

On Friday, Alvin Bragg, the New York District Attorney, said that the fines against the Trump Organization are big, but he also wants lawmakers to make fines for businesses that break the law even bigger.

“This verdict was momentous,” Bragg said outside the courthouse on Friday, “the first ever for a criminal conviction of former President Trump’s enterprises, and I would go so far as to say the first time for any former president in my lifetime.”

However, Bragg believes that the fine is insufficient.

“To be clear, we do not believe that is sufficient; we believe that our laws in this state must be changed to catch this type of decade-plus widespread, atrocious fraud,” Bragg said.

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Trump Organization Has 14 Days To Pay The Fine.

The real estate business is not in danger of being shut down because there is no legal mechanism to dissolve the company. No one will be imprisoned as a result of the jury’s decision. A felony conviction, on the other hand, may harm the Trump Organization’s reputation and ability to do business and acquire financing or contracts.

Trump and his family were not charged in this case, but prosecutors cited the former president several times during the trial about his link to the untaxed benefits given to certain officials, including company-funded homes, car leases, and personal expenses. According to one prosecution, Trump “explicitly sanctioned” tax evasion.

One juror said that the jury saw a “culture of deception” at the Trump Organization, but when they talked about Trump’s knowledge of the alleged crimes, they called him “Bob Smith.”

Weisselberg pleaded guilty to 15 charges concerning the tax fraud scheme last year and promised to testify honestly against the corporation at trial.

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Weisselbeg Plead Guilty to 15 Charges

He remained on paid leave at the Trump Organization, where he was paid somewhat more than $1 million per year, until his sentence on Tuesday. Weisselberg received a “substantial” severance package, according to one individual familiar with the agreement.

Merchan, who sentenced Weisselberg, stated at the time that if it hadn’t been for the plea agreement, he would have sentenced Weisselberg to a longer time in prison after hearing the evidence at trial.

Merchan called it “offensive” that a $6,000 payroll check was made out to Weisselberg’s wife, who had never worked for Trump, so she could get Social Security payments.

According to a Trump Organization spokesman, Weisselberg “is a victim,” as is the firm and the previous president.

“Even though New York has become the world’s crime and murder capital, these politically driven prosecutors will stop at nothing to get President Trump and continue the never-ending witch-hunt that began the day he announced his candidacy,” the spokesperson stated. “We did nothing illegal and intended to challenge this decision.”

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District Attorney’s Office Is Still Looking Into The Company’s Operations.

Prosecutors are conducting a broad investigation, and in recent months their focus has shifted back to the company’s role in hush-money payments made to keep adult film star Stormy Daniels from going public with an affair with Trump just before the 2016 election, according to people familiar with the matter. Trump has denied having an affair.

According to the people, prosecutors are also looking into potential insurance fraud after fresh information emerged from the New York attorney general’s civil inquiry into the integrity of the Trump Organization’s financial accounts.

The most serious threat to the company right now could be New York Attorney General Letitia James’ $250 million civil lawsuit, which claims Trump, his three eldest children, Weisselberg, and others defrauded lenders, insurers, and tax authorities for more than a decade by inflating the value of multiple Trump Organization properties.

In addition to monetary damages, James, a Democrat, is trying to permanently prevent Trump and the children mentioned in the case from acting as directors of a New York-registered firm. She is also attempting to have the Trump Organization’s corporate certificate revoked, which, if successful, would effectively force the company to discontinue operations in New York state.

The judge presiding over the case appointed an impartial monitor to assess the Trump Organization’s financial accounts and business decisions. He recently turned down requests to end the lawsuit and said he was considering punishing Trump’s lawyers. The trial date has been scheduled for October.

Trump has denied any wrongdoing and claims the case is political.

SOURCE – (AP)

 

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Trudeau GST Tax Holiday to Cost Taxpayers $6.3 Billion

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Prime Minister Justin Trudeau announced a two-month GST break on some purchases and a one-time $250 rebate for all Canadians earning less than $150,000. The proposed GST break would last from December 14 to February 15.

The Liberals said it would cover various things, including children’s clothing and shoes, toys, diapers, restaurant meals, and beer and wine. It also refers to real and artificial Christmas trees, snack foods and beverages, and video game systems.

The move will cost taxpayers almost $4.7 billion, and the GST exemption will cost an additional $1.6 billion, totaling $6.3 Billion.

The federal government is now running a significant deficit. This raises the question of who will have to foot the $6.3 billion bill for today’s one-time payments. The government will have to borrow the money, and future taxpayers must either repay it or service the additional debt perpetually.

Critics argue that the GST credit is a collection of terrible ideas that will do little to lift Canada out of the long-term economic rut in which our economy is stuck.

Conservative Party Leader Pierre Poilievre responded Thursday to Prime Minister Justin Trudeau’s pledge of a “GST Holiday” for Canadians, calling it a “tax trick.”

Poilievre stated that the temporary exemption from the Goods and Services Tax on various ordinary commodities “would not make up for the permanent quadrupling carbon tax on heat, housing, food, and fuel.”

Bloc Québécois leader Yves-François Blanchet stated he is “against any idea of a prime minister who says, ‘I will give you money in order for you to consider voting for me.'”

According to the Canadian Federation of Independent Business, temporary sales tax holidays will only increase confusion and administrative burden for small business owners.

A temporary sales tax decrease would help boost demand in some industries, including restaurants, Canadians, and companies, which require sustainable tax relief during the slow post-holiday season.

The changes amid an inflation-driven affordability crisis have left many dissatisfied with the Trudeau government. A federal election is scheduled for before next October, although it might happen sooner if the minority government falls before then.

For months, the Conservatives have held a double-digit lead over the Liberals in public opinion polls, with Leader Pierre Poilievre promising to cut taxes and government spending to restore affordability.

High inflation has also pressured the Liberals to avoid proposing policies that would boost spending and raise fuel prices.

According to the Fraser Institute, The Trudeau government got one thing fundamentally right: Lowering the tax burden on Canadians has benefits. Unfortunately, the policy package it has proposed to deliver tax relief is completely wrong.

It lowers the incorrect taxes, moves taxes temporarily rather than lowering them, does little to improve economic incentives, and punishes future taxpayers. With the holiday season approaching, this attempt at a gift for Canadian taxpayers is the economic equivalent of a lump of coal in the stocking.

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Matt Gaetz Withdraws as Trump’s Pick for Attorney General

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Congressman Matt Gaetz has withdrawn as President-elect Donald Trump’s candidate for Attorney General, citing concerns about a federal sex trafficking probe that cast doubt on his ability to be confirmed.

Gaetz resigned after failing to persuade the Senate to endorse his contentious candidacy. Shortly after Gaetz’s unexpected departure, the president-elect issued a statement applauding his former AG nominee’s choice to seek Senate confirmation.

“I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all the great things he will do!” the president-elect wrote on Truth Social.

Gaetz had earlier stated that he was retiring from his current seat in Congress and would not take the oath of office for the upcoming session, which begins in January. Now that he has withdrawn from consideration for AG, his future in Washington is uncertain.

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Eric Hovde Concedes The United States Senate Race To Tammy Baldwin.

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(VOR News) – Eric Hovde, the Republican candidate for the United States Senate, has acknowledged that he was defeated by Tammy Baldwin, the Democratic candidate for the same seat on the ballot.

Baldwin acknowledged Hovde’s defeat and consented to it. Furthermore, he released a statement in which he contends that the election results are not only inaccurate, but also devoid of any factual foundation.

Eric Hovde experienced this two weeks after the election.

Baldwin emerged as the unofficial victor of the Senate campaign in Wisconsin, a race that was closely monitored by a significant number of individuals. Baldwin was awarded the title of victor on November 6th. Baldwin emerged victorious by a razor-thin margin.

According to the data provided by the Associated Press, Baldwin emerged victorious by a margin of 29,116 ballots, which is approximately equivalent to 0.9 percent of the total votes cast. Baldwin emerged victorious by a substantial margin, as indicated by the results.

Hovde issued his public apology subsequent to the conclusion of the canvassing of the results by the majority of county clerks throughout the state. This process will ultimately result in the results being recognized as official. Publication of Eric Hovde’s decision. Not only were the results announced at this time, but they were also proclaimed in an official capacity.

The exact phrase of the announcement, “Thank you for your support,” was included in a post by Eric Hovde on Monday and published on the social networking site X.

The public was notified of this announcement. The announcement was public on Monday. It has drawn a lot of attention. “It is time to begin moving on.”

In contrast, Eric Hovde’s film began with a somewhat less inclusive tone, which persisted throughout. He made this assumption without offering any evidence to back it up, and his claims that there were “many troubling issues” with absentee ballots tabulated late on election night were factually incorrect. His claims were not supported by empirical evidence.

His claims were unsupported by any proof. Not a single piece of evidence could possibly prove that his allegations were correct. He stated in the statement that “numerous supporters” had demanded that he challenge the election results. He acknowledged receiving the request.

Eric Hovde acknowledged receiving these demands.

In particular, Eric Hovde asserts, “However, a request for a recount would serve no purpose if it were not for a detailed review of all the ballots and their legitimacy, which will be difficult to obtain in the courts.”

Subsequently, you would recount the identical ballots, regardless of their authenticity. This is the reason, as elucidated in this article. This is the rationale for the current state of affairs.

Hovde and his campaign refrained from issuing any public statements subsequent to Baldwin’s disclosure that Eric Hovde had emerged victorious in the election, which transpired over a week after Baldwin’s initial announcement.

The previous week, he uploaded a video to social media platforms that expressed his “deeply concerned” sentiments regarding the election results in Milwaukee.

The election was conducted in Milwaukee. While the film was being screened, there was a discussion regarding the results of the election in Milwaukee. As the ballots were still being counted in the largest city in Wisconsin on the evening of the election, he expressed his “shock” at the sequence of events that had transpired.

Eric Hovde was emphasizing the occurrence of specific events.

In addition, he declared that ballots were still being tallied at the time of the election. Eric Hovde made this declaration during the voting period, while ballots were still being tabulated.

Baldwin’s team referenced her victory speech, which she delivered the week prior to the election, in response to a request for comment that was submitted on Monday.

In response to the campaign’s request, this action was implemented.

A representative of Baldwin’s team has verified that “Hovde has not called,” which is consistent with the information that was disclosed on Monday morning. The representative who provided these details has worked in a variety of capacities throughout their career.

SOURCE: WPR

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