NY vs. Trump - Financial Fraud Case

[Unagi]

Russian agents pump up the stock, so Trump can look liquid. Then they threaten to dump it later as leverage. Not knowing Trump’s finances creates a national security risk.

Let’s follow this further. Exactly how would Russian agents access the US financial system?

[Alefroth]

Money laundering? IDK how crime works, but this sure looks like another one.

Monet laundering is about trying to convert illegally gained funds into legitimate funds. That’s not what this is.

What if it is to secretly funnel money from Putin to Trump's pocket? That count as money laundering, right?

Does that fall under Grif's definition?

[Carpet_pissr]

Russian agents pump up the stock, so Trump can look liquid. Then they threaten to dump it later as leverage. Not knowing Trump’s finances creates a national security risk.

Let’s follow this further. Exactly how would Russian agents access the US financial system?

Hello, neighbor Griffin! Beautiful day, isn't it? Listen, buddy, I've got a business opportunity for you. How would you like to make $500K? I'm going to give you $1M, and I want you to buy $500K worth of this stock, then you keep the rest.

I've watched The Americans!!

[Isgrimnur]

[Carpet_pissr]

[Grifman]

Money laundering? IDK how crime works, but this sure looks like another one.

Monet laundering is about trying to convert illegally gained funds into legitimate funds. That’s not what this is.

What if it is to secretly funnel money from Putin to Trump's pocket? That count as money laundering, right?

Does that fall under Grif's definition?

No that is not money laundering. That's why mobsters buy or set up front businesses. They want to try to convert illegal gains into legitimate gains, to hide their origination and get the money into the financial system. If you start spending large sums of cash without any obvious source, that is going to raise questions. But if you own a construction business, inflate invoices, put your boys on the payroll, it all looks legit from the outside.

[Grifman]

Russian agents pump up the stock, so Trump can look liquid. Then they threaten to dump it later as leverage. Not knowing Trump’s finances creates a national security risk.

Let’s follow this further. Exactly how would Russian agents access the US financial system?

Hello, neighbor Griffin! Beautiful day, isn't it? Listen, buddy, I've got a business opportunity for you. How would you like to make $500K? I'm going to give you $1M, and I want you to buy $500K worth of this stock, then you keep the rest.

I've watched The Americans!!

Yes, TV is an excellent source as to how to do stuff like this. You will go far in crime.

[Punisher]

Russian agents pump up the stock, so Trump can look liquid. Then they threaten to dump it later as leverage. Not knowing Trump’s finances creates a national security risk.

Let’s follow this further. Exactly how would Russian agents access the US financial system?

Hello, neighbor Griffin! Beautiful day, isn't it? Listen, buddy, I've got a business opportunity for you. How would you like to make $500K? I'm going to give you $1M, and I want you to buy $500K worth of this stock, then you keep the rest.

I've watched The Americans!!

Yes, TV is an excellent source as to how to do stuff like this. You will go far in crime.

Obviously movies have a bigger budget so that would be a much hetter source.

[Carpet_pissr]

Russian agents pump up the stock, so Trump can look liquid. Then they threaten to dump it later as leverage. Not knowing Trump’s finances creates a national security risk.

Let’s follow this further. Exactly how would Russian agents access the US financial system?

Hello, neighbor Griffin! Beautiful day, isn't it? Listen, buddy, I've got a business opportunity for you. How would you like to make $500K? I'm going to give you $1M, and I want you to buy $500K worth of this stock, then you keep the rest.

I've watched The Americans!!

Yes, TV is an excellent source as to how to do stuff like this. You will go far in crime.

The show was created by an ex-CIA operative and was inspired by the 2010 revelation of Russian sleeper agents in the US:

Spoiler:

The Illegals Program (so named by the United States Department of Justice) was a network of Russian sleeper agents under unofficial cover. An investigation by the Federal Bureau of Investigation (FBI) culminated in the arrest of ten agents on June 27, 2010, and a prisoner exchange between Russia and the United States on July 9, 2010.[1]

The arrested spies were Russian nationals who had been planted in the U.S. by the Russian Foreign Intelligence Service (known by its Russian abbreviation, SVR), most of them using false identities.[2] Posing as ordinary American citizens, they tried to build contacts with academics, industrialists, and policymakers to gain access to intelligence. They were the target of a multi-year investigation by the FBI. The investigation, called Operation Ghost Stories, culminated at the end of June 2010 with the arrest of ten people in the U.S. and an eleventh in Cyprus.[2] The ten sleeper agents were charged with "carrying out long-term, 'deep-cover' assignments in the United States on behalf of the Russian Federation."[3][4][5]

[Pyperkub]

One can look at the Russian NRA operation as an example

https://www.cnbc.com/2018/02/15/nra-rus ... ntary.html

[waitingtoconnect]

The Russians have been very active in destabilising democracies around the world from West Africa to India to the UK.

In the UK for example their propaganda “news” channel RT gave prominence to men like Nigel Farange who advocated for Brexit and Adam Salmond who advocates for Scottish independence and became Scotland’s first minister.

[LawBeefaroni]

Looks like Trump won a stay in judgement if he can post $175M within 10 days. Definitely much more doable.

The golden age of fraud rolls on....

[Pyperkub]

As much as I loathe tfg, I'm generally OK with this, tho there is an element of him getting special treatment here, I wouldn't want massive judgements immediately leading to forfeiture for most people.

And I do expect that on appeal the amount will be lowered, as always appears to be the case. Whether Good or bad, that's the pattern.

On the good news side, this is a state civil judgement - he won't be able to president his way out of it.

[LawBeefaroni]

On the good news side, this is a state civil judgement - he won't be able to president his way out of it.

But he'll be able to president up more than enough to cover any judgement.

[waitingtoconnect]

First day as dictator he just has to print a Trump coin that pays off all his debts.

[Zarathud]

I would have been happier with a 50% reduction rather than 66%. Poor people regularly face hardship with bonds and fines that exceed their ability to pay. Running for President should not be a get out of jail free card.

[Carpet_pissr]

And unfortunately DWAC closed up 35% today...doh.

[Grifman]

And unfortunately DWAC closed up 35% today...doh.

This is just nuts, according to one expert it is probably not worth more than $2/share:

https://www.cnn.com/2024/03/26/markets/ ... index.html

Reality will assert itself at some point. If DWAC continues to lose subscribers, lose money and burn through its cash, then the inevitable will happen, no matter what the stock price says. It will be interesting to see what happens if it lasts long enough for Trump to cash out, and what his poor followers say when they are left holding the bag. It will probably just be a liberal/deep state plot that takes the company down.

[pr0ner]

The new stock, trading as DJT, is up over 35% right now.

Schwab's app gave me a notice just now that there are difficulties trading that stock and to give them a call if I really wanted to do so.

[Victoria Raverna]

Is it still not believable if Russia funded it to help put money in Trump's pocket?

[Carpet_pissr]

Is it still not believable if Russia funded it to help put money in Trump's pocket?

Unpossible. They would never do anything so sneaky, and would never get away with it. They have zero experience with thwarting sanctions for one, and the SVR is known to be above such shenanigans.

[hepcat]

If foreign powers who want to tank the stock market were looking for a convenient way to do so, this would probably be one of the best ways right now.

[LawBeefaroni]

I'm fine watching it run. Would love to take MAGA money again but don't have the time right now to trade this.

I did have to search the new ticker to add it to my watchlist. Going back to the well:

DJTCQ Trump Hotels & Casino Resorts Delisted 5/23/2005
DJTCQZ Trump Hotels & Casino Resorts Delisted
DJTCWT Trump Entertainment Warrants
DJTEVZ Trump Entert Fracs

(note that the Q suffix indicates a bankruptcy)

[LawBeefaroni]

What's important for Trump's future is how this holds up for the next two weeks or so. Remember, DWAC touched $175 after they announced the merger with Truth Social and it was $50 a few weeks later.

MGT bought late into that initial run and best case for her is she is just now breaking even on those shares. All the news reporting that DJT is up 50% on its "debut" is technically true but in practice it's bullshit. It's only now getting back to the October 22, 2021 lows. If this run is as short-lived he probably can't leverage it.

[Isgrimnur]

Is it still not believable if Russia funded it to help put money in Trump's pocket?

Unpossible. They would never do anything so sneaky, and would never get away with it. They have zero experience with thwarting sanctions for one, and the SVR is known to be above such shenanigans.

[Pyperkub]

I would have been happier with a 50% reduction rather than 66%. Poor people regularly face hardship with bonds and fines that exceed their ability to pay. Running for President should not be a get out of jail free card.

FTFY

Running for President Being ~rich and famous should not be a get out of jail free card.

And yet, it certainly can be (see OJ).

[waitingtoconnect]

If foreign powers who want to tank the stock market were looking for a convenient way to do so, this would probably be one of the best ways right now.

Meme stocking Truth social like GameStop was is an easy way to put money in trumps pocket for a billionaire and to make some coin for yourself. Spend a few million buying stock at an inflated price - the price shoots up due to the Magas and Fomos looking to make money. Then you and trump can cash out before reality sets in.

[Alefroth]

I think the terms of the merger say he can't cash out before 6 months.

[Daehawk]

Hahahaha Trump needs money...

Trump is selling ‘God Bless the USA’ Bibles for $59.99 as he faces mounting legal bills

Thats so hypocritical.

“Happy Holy Week! Let’s Make America Pray Again. As we lead into Good Friday and Easter, I encourage you to get a copy of the God Bless the USA Bible,” Trump wrote, directing his supporters to a website selling the book for $59.99.

The grift is strong with this one.

[LawBeefaroni]

I think the terms of the merger say he can't cash out before 6 months.

From what I've read, it sounds like the board can grant exceptions and let him sell prior to end of the lockup period.


EDIT: looks like Cramer is on it giving him cover.

[Zarathud]

Cramer is a moron and listening to his advice makes you stupider. Wasn’t there a study that showed following his advice would result in significant losses?

[LawBeefaroni]

Cramer is a moron and listening to his advice makes you stupider. Wasn’t there a study that showed following his advice would result in significant losses?

Yes, "Inverse Cramer" is a trading strategy. There was a long Cramer ETF and the same company brought out a short Cramer ETF. Both eventually shut down due to lack of interest but the short Cramer one lasted 5 months longer.

But he has a following and, more importantly to this discussion, he's laying the groundwork for a way that Trump can access funds before lockup. He's putting the idea out there and even making a case that it's good for investors (provide DJT share liquidity). If Trump tries this, he'll just take those talking points to his board and the board can use Cramer's statements as cover ("this well known stock guy said it's good!").

Spoiler:

https://finance.yahoo.com/news/inverse- ... 00106.html

“We started [the ETF] in order to point out the danger of following TV stockpickers, Jim Cramer specifically, and the total lack of accountability,” said Matthew Tuttle, the fund’s portfolio manager, who added, “we feel like we have accomplished that mission, but retail investors are more focused on volatile products and the interest in a long/short portfolio never fully materialized.”

SJIM Only $2 Mln AUM
As of Friday , SJIM only had $2 million in assets under management, a paltry sum for an ETF with a strategy that is cumbersome to employ. As I wrote in 2022 before SJIM launched, Tuttle decides which trades to make based on commentary Jim Cramer makes on CNBC and Twitter.

That required members of Tuttle’s team to constantly monitor the media for new updates from Cramer. Not only is the process time-consuming, but it is also subjective .

Cramer makes a multitude of calls, so deciding which ones to bet against—and when to close those inverse bets—takes discretion.

In other words, even if it’s the case that Jim Cramer is a bad stock picker, the sheer number of calls he makes and the speed at which he shifts gears makes it difficult to devise a repeatable blueprint for betting against him.

[LordMortis]

Cramer is a moron and listening to his advice makes you stupider. Wasn’t there a study that showed following his advice would result in significant losses?

Yes, "Inverse Cramer" is a trading strategy. There was a long Cramer ETF and the same company brought out a short Cramer ETF. Both eventually shut down due to lack of interest but the short Cramer one lasted 5 months longer.

But he has a following and, more importantly to this discussion, he's laying the groundwork for a way that Trump can access funds before lockup. He's putting the idea out there and even making a case that it's good for investors (provide DJT share liquidity). If Trump tries this, he'll just take those talking points to his board and the board can use Cramer's statements as cover ("this well known stock guy said it's good!").

Spoiler:

https://finance.yahoo.com/news/inverse- ... 00106.html

“We started [the ETF] in order to point out the danger of following TV stockpickers, Jim Cramer specifically, and the total lack of accountability,” said Matthew Tuttle, the fund’s portfolio manager, who added, “we feel like we have accomplished that mission, but retail investors are more focused on volatile products and the interest in a long/short portfolio never fully materialized.”

SJIM Only $2 Mln AUM
As of Friday , SJIM only had $2 million in assets under management, a paltry sum for an ETF with a strategy that is cumbersome to employ. As I wrote in 2022 before SJIM launched, Tuttle decides which trades to make based on commentary Jim Cramer makes on CNBC and Twitter.

That required members of Tuttle’s team to constantly monitor the media for new updates from Cramer. Not only is the process time-consuming, but it is also subjective .

Cramer makes a multitude of calls, so deciding which ones to bet against—and when to close those inverse bets—takes discretion.

In other words, even if it’s the case that Jim Cramer is a bad stock picker, the sheer number of calls he makes and the speed at which he shifts gears makes it difficult to devise a repeatable blueprint for betting against him.

Isn't his board one of his sons and a bunch of his cronies?

As to Cramer, I've seen enough of him to know not to care. I do like the cast that surrounds him in the morning but I've come to hate the show the precedes him, so I've been weening myself off of CNBC in the morning. I'm still looking for a new better morning news niche.

[Alefroth]

Isn't his board one of his sons and a bunch of his cronies?

Not the DWAC board.

[Alefroth]

DJT down to $47.40. Anyone think TFG got out in time?

[Isgrimnur]

He can't sell for six months.

[LordMortis]

He can't sell for six months.

Not without board approval... Which are his son and his cronies. However, with bail reduced, and the RNC under his control funding his grift, the urgency is less.

[Alefroth]

He can't sell for six months.

I said that earlier, but Lawbeef said there were ways.

[Isgrimnur]

Which I'm sure will be covered in the media in depth at every stage.

[Zarathud]

Releasing the news about its financial condition as “not an ongoing concern” after this merger is the reason why securities laws were created. What a blatant scam.