Trump foreclosure of local firm approved Taxpayers among likely losers in deal for Titan property | Business | postandcourier.com
Here’s a link to part of the story, it seems to cover basics, but Rachel Maddow dug into it a bit deeper. It has some serious side issues concerning toxic waste removal that Trump and Trump Jr are trying to stiff taxpayers with, not to mention fraud due to denials on applications that have claimed that Trump has nothing to do with the past ownership of the property. Hard to maintain when it’s your son and you assumed the foreclosed property.
This is the perfect example I was talking about when I said that Trump has business deals that he does not want anything to do with being scrutinized. He cannot afford scrutiny given the way he models businesses so as to fail and walk away from debt after stripping assets, he engineers defaults and bankruptcies, changes loans and deals after the fact, makes IRS claims that are fraudulently incorrect, steals from contractors, banks, and investors, not to mention customers and consumers.
This one puts the state of South Carolina between a rock and the President Of The United States, it will not go away, and can get much much worse if Trump attempts shenanigans to make it go away. Any attempts to use his power will result in charges that are worse than it already is, and anyone in his administration that is involved will be in the frying pan as well. Trump is likely to try to run his patently incorrect premise that the POTUS cannot have a conflict of interest because he is the president, and this one will be a rude awakening.
The heart of this seems to be the toxic waste disposal matter. As it stands the court has granted the foreclosure actions in such a way that Trump evaded responsibility for the toxic cleanup, and according to SC law as long as the current owner (Donald Trump) had no connection to the previous and default owner (Trump Junior), the state is left on the hook for the cleanup. The building can be bought from Trump in the foreclosure sale, Trump is first lien holder (thereby burning the other lienholders). Trump Junior is apparently defaulting on something like $3.5 million, no telling what The Donald paid for this bad loan, but he will be first in line for the amount of the first loan, and he has no motivation to see that it sells for any more than that. In fact it could have sold for a very low price to someone Trump knows and that person would not have had to worry about cleanup. Sweet deal, lots of money to be made here. It looks like there are allegations that it was an intentional default knowing that this is the outcome.
South Carolina will be forced to protect the citizens of the state, this is going to have far too much visibility not to go after the fraud, Junior’s default, Senior’s complicity. Then there’s the cleanup evasion, the state is sitting on hard evidence of false claims, and the court went along with discharging debt and foreclosure based on lies. This is hard charges time, slam dunk indictments. If those come down, and I can’t see how the state can refuse to go there, the heat brought on by not will make this worse than it is at face value. The eyes of the nation will be on this. My right wing Donald supporter neighbor is disgusted, he says Trump deserves to be in jail, he is now much more open to what Trump supporters should have been considering all along about everything that came up.
Let’s hope that the right wing gets very angry at Trump and the GOP. Trump might want to wait to move into the Whitehouse. Forget remodeling in Italian garish, it’s a waste of money.