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Example of Trump's Money Laundering system - from golf course in the UK
Posted by: sekker
Date: September 29, 2020 05:40PM
[twitter.com]

'You can (check) this at home.

Go to:
[beta.companieshouse.gov.uk]

search "Trump International Golf" and open the FULL ACCOUNTS for each year.

You see a clear trend:
From 2005 to 2010, the disappearing cash is relatively low--a million or two a year. '

'If this is a money disappearing business and it is not only tax fraud, then he is making money disappear for somebody else and charging some sort of fee. Which might explain why a money-losing golf course pays huge fees to its owner.'



Edited 3 time(s). Last edit at 09/29/2020 05:42PM by sekker.
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Re: Example of Trump's Money Laundering system - from golf course in the UK
Posted by: davester
Date: September 29, 2020 05:46PM
Is this a way of inflating the asset value over years and years so that when he sells it he can show a massive loss (due to selling at far less than the inflated asset value) which he can use to offset his taxes?



"In science it often happens that scientists say, 'You know that's a really good argument; my position is mistaken,' and then they would actually change their minds and you never hear that old view from them again. They really do it. It doesn't happen as often as it should, because scientists are human and change is sometimes painful. But it happens every day. I cannot recall the last time something like that happened in politics or religion." (1987) -- Carl Sagan
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Re: Example of Trump's Money Laundering system - from golf course in the UK
Posted by: sekker
Date: September 29, 2020 08:19PM
Quote
davester
Is this a way of inflating the asset value over years and years so that when he sells it he can show a massive loss (due to selling at far less than the inflated asset value) which he can use to offset his taxes?

No, a simple way to take in a bunch of money from somewhere else and make it 'disappear' from the books.

Classic money-laundering.
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Re: Example of Trump's Money Laundering system - from golf course in the UK
Posted by: pdq
Date: September 30, 2020 10:34PM
You know, even my wife’s small hobby business needs to show a profit every three years or so or the IRS will get after her for tax evasion for claiming business deductions on a fake business (which, just to be clear, it’s not; it’s a social business that provides employment to disadvantaged or disabled workers, and the latter is more important to her than any small profit involved)

But then those rules (like taxes, as Leona Helmsly famously said) are for little people. Got a golf course chronically losing money, taking huge deductions is A-OK.
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