When New York Attorney General Letitia James first announced her intent to bring massive financial penalties against the Trump Organization, a number of panicked social media posts suggested that Donald Trump would just move his money around and avoid such penalties. But it doesn’t work that way. The point of moving money around is to keep investigators from catching on that you’re doing anything wrong to begin with. Once investigators are onto you, they’re watching your every financial move, and you’re not “getting away” with anything.
For instance, the court appointed financial auditor has now caught Donald Trump moving $40 million from the Trump Organization to his personal bank account, so that he could pay a massive $29 million tax bill. Trump isn’t allowed to pull money out of the Trump Organization for personal use, because the Trump Organization’s assets are subject to seizure in the ongoing civil fraud trial.
This goes to show that there are no parlor tricks that Donald Trump can use to avoid the financial fate that he’s facing. He can’t just shuffle his money around in order to avoid having it seized in this trial. This is also the latest evidence to suggest that Trump is in financial distress. What kind of “billionaire” is so short on cash that he can’t come up with a mere $29 million, without having to take it from a place he’s not allowed to?
Bill Palmer is the publisher of the political news outlet Palmer Report