So the point behind NY AG's case is (looking for clarification)

[MissMillie]

In order to operate a business in NY (and/or hold a license to do so) you have to abide by certain practices, and when you don't abide by those practices (in this case--financial reporting practices) the state can file for civil damages commensurate with the violation of said infraction? The state can also suspend or revoke your license to do business?

And on top of that, she's making criminal referrals to SDNY and to the IRS?


So I have all this right?

[Walleye]

1. It's called the corporate death penalty. Couldn't happen to a more deserving family

[PortTack]

3. Wow..didn't understand that...corporate death penalty..sounds great!

[PJMcK]

2. Sounds right to me (n/t)

[JT45242]

4. Will also likely bankrupt TFG and the company

He will have to pay huge fines... Michael Cohen estimated that the $250 million will double or triple when they get additional documentation like the stuff among the classified document.

Banks will be able to call all his loans immediately because of the fraud. So, he will have to pay back all that money quickly.

Since the company will be in receivership, the state appointed accountant will sell any and all assets to pay back the loans which will liquidate and bankrupt the company.

[MissMillie]

5. $250 million and an inability to continue doing business in NY???

Thank you, Captain Obvious!

[IbogaProject]

6. A corporation is an artificial person with extra obligations

The idea of a corporation is that it balances property rights, practicing business, and the "public good". The last part has been ignored for over a century, but is integral to the concept. We the public must get some kind of benefit to allowing investors to limit their liability to just their investment amount. DJT and his family have been scamming on Taxes, and getting loans on fraudulent terms. We the public are harmed by both. Taxes is obvious but the loans are an issue too as the lender in this case is part of the Federal Reserve system and if too many of these shandy loans go sour the Fed will step up with our Government money to bail out the bank. A final point is if he cheats on his taxes and loan statements we can assume he cheats on safety standards too.