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Financial Disclosures

All articles tagged with #financial disclosures

politics7 months ago

Trump Reports Over $600 Million Income from Crypto, Licensing, and More

In 2024, Donald Trump earned over $57 million from his crypto venture with World Liberty Financial, which is controlled by his sons and includes his son Barron as a DeFi visionary, making it one of his largest income sources according to his financial disclosures. The venture involved token sales and launched a $TRUMP cryptocurrency token, alongside other branded products and properties generating significant revenue. The disclosures also revealed substantial income from his estate, licensing fees, and royalties, as well as liabilities related to ongoing litigation.

via Rolling Stone|
#crypto-venture#donald-trump#financial-disclosures
business7 months ago

Trump's Wealth Grows Through Crypto, Licensing, and Luxury Goods

New financial disclosures reveal that Donald Trump has earned millions from various ventures including a $57 million token sale, royalties from products like watches and sneakers, and income from private clubs, while also facing significant civil liabilities. The disclosures provide insight into his recent earnings and assets, highlighting his ongoing business activities and legal challenges.

via CNN|
#business#civil-judgments#cryptocurrency
politics7 months ago

Kelly Loeffler's Hidden Financial Links to Newsmax Parent

Kelly Loeffler, a former U.S. senator and Trump appointee, owns significant stock in Newsmax, which she did not disclose during her media appearances, raising potential conflict of interest concerns. Other Trump officials also hold investments that could conflict with their public duties, highlighting ethical issues in the current administration.

via Fortune|
#conflict-of-interest#financial-disclosures#kelly-loeffler
finance1 year ago

"NYCB Stock Plunges 28% on CEO Departure and Internal Controls Issue"

New York Community Bancorp's shares plummeted after its CEO's sudden departure and the revelation of internal control issues, including a $2.4 billion goodwill impairment charge and material weaknesses in its loan review process. The bank, which recently acquired the failed Signature Bank, has faced significant losses on commercial real estate loans and a credit rating downgrade. The abrupt departure of the CEO, Thomas Cangemi, and the delay in filing its annual report with the SEC have raised concerns among investors and analysts, leading to a 30% drop in the bank's stock.

via Yahoo Finance|
#ceo-departure#finance#financial-disclosures
legalcourt-case1 year ago

"Trump's New York Business Fraud Verdict Delayed to Mid-February"

A verdict in the civil fraud case brought by New York Attorney General Letitia James against Donald Trump and his company could come by mid-February, with Judge Arthur Engoron poised to issue a ruling on fraud claims. The attorney general seeks $370 million in disgorgement for ill-gotten gains, while a court-appointed monitor has flagged errors and inconsistencies in Trump Organization's financial disclosures. Trump's attorney has criticized the monitor's report, and Engoron has already ruled that Trump engaged in fraud, ordering the dissolution of his business empire pending appeal.

via CNN|
#civil-fraud-case#donald-trump#financial-disclosures
politics1 year ago

"Trump's Battle Against Court Monitor's Bombshell Report"

Former President Donald Trump is disputing a court monitor's report suggesting he may have evaded taxes by using a fake $48 million loan, with his attorneys dismissing the findings as "demonstrable falsehood" and questioning the monitor's competence. The monitor, former federal judge Barbara Jones, raised concerns about incomplete and inconsistent financial disclosures from the Trump Organization, prompting Trump's team to push back and recruit a public accountant to review the report. Trump's lawyers criticized the monitor's findings and fees, while asserting that there is no basis for the ongoing legal process.

via Business Insider|
#court-monitor#donald-trump#financial-disclosures
legalcourt-proceedings1 year ago

"Trump's Legal Team Condemns Monitor's Report Ahead of Fraud Trial Ruling"

Trump's attorney criticized a report by the independent monitor overseeing the Trump Organization's finances, accusing it of exaggerating minor accounting discrepancies to justify ongoing oversight and the collection of excessive fees. The report found that while the organization had made some improvements, it still had multiple errors and misstatements. The attorney argued that the monitor's continued role serves no purpose and likened her to a fictional antagonist, while the New York attorney general's office declined to comment.

via ABC News|
#financial-disclosures#fraud-trial#independent-monitor
politics1 year ago

"Trump Organization's Dubious Financial Disclosures Raise Tax Evasion Concerns"

A court-appointed monitor in Donald Trump’s New York business fraud case revealed in a letter that a $48 million loan Trump claimed to owe one of his companies apparently never existed, potentially indicating tax evasion. The Trump Organization disputes this, insisting the loan did exist and was an internal loan from Trump to the entity he owns. Legal experts suggest that Trump knowingly and repeatedly broke the law by inaccurately reporting the loan on federal financial disclosures. The revelation raises questions about potential tax fraud and the accuracy of Trump's financial disclosures, with implications for his past tax payments.

via The Daily Beast|
#barbara-jones#donald-trump#financial-disclosures
politics2 years ago

"Comer's Hypocrisy Exposed: GOP's Misleading Claims in Biden Investigation"

House Oversight Committee Chairman James Comer (R-Ky.) responded to an Associated Press report comparing his rural landholding company to the "shell companies" associated with Hunter Biden and his associates. Comer's company, Farm Team Properties, LLC, co-owned with a campaign contributor, reported no dividends last year and operates similarly to the companies used by the Bidens. Comer highlighted bank records showing the Bidens received over $10 million from foreign entities through "shell companies." He also pointed to checks indicating James Biden transferred funds to his brother Joe, suggesting "laundered" funds from a Chinese energy deal. Comer defended his company, stating it is not a shell company but rather an LLC that manages over a thousand acres of land.

via New York Post |
#financial-disclosures#house-oversight-committee#hunter-biden
politics2 years ago

Supreme Court Implements Ethics Code Amidst Controversy

The Supreme Court has announced the adoption of a 14-page code of ethics in response to criticism over undisclosed gifts and travel received by some justices. The code, which lacks an enforcement mechanism, aims to dispel the perception that the justices consider themselves exempt from ethics rules. The move comes after reports revealed that Justice Clarence Thomas had accepted luxury trips without reporting them, and Justice Samuel Alito failed to disclose a fishing trip. The code covers canons of conduct related to integrity, impartiality, and refraining from political activity. Senate Democrats, who had called for ethics reform and launched an investigation, have yet to comment on the new code. Republicans have opposed efforts to impose ethics standards on the court, accusing Democrats of attempting to influence conservative justices' rulings.

via CNBC|
#accountability#ethics-code#financial-disclosures
business2 years ago

"Unexplained Surge: Trump Businesses' Stated Value Soars in Filings"

Revised financial disclosures filed by Donald Trump show significant shifts in the stated value of his businesses, including a five-thousand-fold increase in the value of TAG Air, Inc. from $1,001 to between $5 million and $25 million. Trump also claims to own $2.8 million in Ethereum cryptocurrency and $100,000 to $250,000 in gold bars. The filings do not break out earnings from trademarks registered in countries such as Iran, China, and Ukraine. The fluctuating valuations and complex financial structure have raised questions about transparency and potential fraud.

via Business Insider|
#assets#business#donald-trump
politics2 years ago

Supreme Court Justice Clarence Thomas Reveals Private Jet Trips Funded by Billionaire Harlan Crow

Supreme Court Justice Clarence Thomas disclosed that he took three private jet trips provided by billionaire Harlan Crow last year, as well as inadvertently omitted bank accounts and other financial details from his annual disclosures. Thomas stated that the private jet trips were due to security concerns following a leaked draft Supreme Court opinion on abortion rights. The disclosures come amid scrutiny of the court's ethics practices and calls for increased transparency.

via POLITICO|
#billionaire-harlan-crow#clarence-thomas#financial-disclosures
politics2 years ago

Clarence Thomas Reveals Private Jet Trips Linked to GOP Donor and Security Concerns

Justice Clarence Thomas has responded to reports that he failed to disclose luxury trips, flights on private jets, and a real estate transaction with Texas billionaire Harlan Crow in his annual financial disclosure form. Thomas defended his travel with Crow, who has donated to conservative causes, and explained that he flew on Crow's private jet due to increased security risks following the leak of a draft opinion overturning Roe v. Wade. The disclosure comes as the Supreme Court faces scrutiny over its financial dealings and lack of an ethics code. Thomas acknowledged errors in his previous reports and stated that he is working with Supreme Court officials to determine if further amendments are necessary. Justice Samuel A. Alito Jr.'s financial disclosure form, which revealed a private plane trip to a luxury fishing lodge in Alaska hosted by hedge fund billionaire Paul Singer, was also released. Both justices have insisted that the gifts and travels did not need to be reported.

via The New York Times|
#ethics#financial-disclosures#harlan-crow