Quantcast
Connect with us

Trump’s ‘corporate death’: New York’s attorney general has the power to kill the president’s businesses

Published

on

New York’s attorney general has turned her sweeping investigative powers to focus on the Trump Organization — which she has the power to potentially dissolve.

Attorney General Letitia James promised shortly after her November election to “use every area of the law” to investigate President Donald Trump, his family and associates, and his business, reported NBC News.

ADVERTISEMENT

She recently issued subpoenas to banks seeking information about the Trump Organization and the president’s finances, which drew Twitter complaints from Trump, and legal experts say James has “broad power” to go after his business.

New York law allows the attorney general to seek restitution and damages — or even order dissolution — if a business is found to have engaged in persistent fraud, and the 1921 Martin Act could allow James to subpoena witnesses and documents without first receiving a referral from the governor or a state agency.

The Martin Act applies to almost any financial transaction conducted in the state, and has been used in the past to pursue securities fraud and other white-collar crimes that are typically handled by federal prosecutors.

New York’s attorney general also holds, according to the state Supreme Court, the power to pass a “judgment of corporate death,” when a company’s crimes are deemed a “harm or menace to the public welfare.”

It’s not yet clear what crimes James is investigating, but she opened her probe into Trump’s banking after his former attorney Michael Cohen told Congress last month that the president had inflated the value of his assets in financial statements he submitted in loan applications, and a source told NBC News her investigation was moving quickly.

ADVERTISEMENT

That, according to a former New York attorney general, could have potentially defrauded a financial institution or its investors and customers, and a former federal prosecutor said proving fraud should be extremely easy to prove if documents show Trump misled banks about his assets.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

‘This isn’t going away’: Defying curfews and police brutality in relentless push for justice, uprising over killing of George Floyd keeps growing

Published

on

"Essential workers are exempt from the curfew, and what we are doing here is essential."

Refusing to be cowed by militaristic intimidation tacticsmass arrestsdraconian curfews, and violence endorsed and directly ordered by the Trump administration, tens of thousands of people demanding justice for the police killing of George Floyd—and so many others—took to the streets across the U.S. once more Wednesday in a powerful signal that the nationwide uprising is only growing in the face of repression.

Continue Reading

Breaking Banner

Trump’s using protests to gain ‘illegitimate power’ as part of his ‘American Führer’ fantasy: forensic psychiatrist

Published

on

A Yale psychiatrist who has repeatedly sounded the alarm on President Donald Trump's mental health warned that his "displays of false strength" foreshadow his reaction to the November election if he loses.

Dr. Bandy X. Lee is a forensic psychiatrist at Yale School of Medicine, author of the textbook "Violence," and editor of "The Dangerous Case of Donald Trump: 37 Psychiatrists and Mental Health Experts Assess a President." Lee, who heads the World Mental Health Coalition, focuses on public health approaches to violence prevention and has led various think tanks that seek to "draw connections between individual, community, and societal violence, as they are interrelated."

Continue Reading
 

Breaking Banner

Trump gives strongest hint yet that Roger Stone is getting a pardon: ‘He can sleep well at night!’

Published

on

President Donald Trump on Thursday gave his strongest indication yet that convicted ally Roger Stone would be getting a pardon.

In response to a tweet from right-wing activist Charlie Kirk about Stone serving time in prison after being convicted of multiple felonies, Trump seemed to say that Stone would never have to serve out his term.

"No. Roger was a victim of a corrupt and illegal Witch Hunt, one which will go down as the greatest political crime in history," Trump wrote. "He can sleep well at night!"

Stone last year was found guilty on seven different charges that included perjury, witness tampering, and obstruction of justice related to special counsel Robert Mueller’s probe of Russian interference in the 2016 election.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image