What did MAGA expect when they voted to put a convicted criminal back in office? Integrity? Honor? Virtue? Those are words no one would ever associate with Donald Trump.
NEW YORK (AP) — "Bank accounts held by President Donald Trump were closed by Capital One in 2021 after it flagged financial activity that had characteristics of money laundering, the bank disclosed in a court filing over the weekend.
The court filing is tied to a lawsuit filed against Capital One by one of Trump's financial holding companies shortly after he was sworn into office a second time. Trump alleges that Capital One illegally closed his accounts for political reasons, following the Jan. 6 attacks on the U.S. Capitol.
Capital One wants the lawsuit dismissed."
The Closures: Following the January 6, 2021, attack on the U.S. Capitol, Capital One conducted reviews and moved to shut down over 300 accounts tied to the Trump Organization. [1, 2] The Allegations: Trump, his trust, and Eric Trump filed a lawsuit arguing the closures were an unlawful, politically motivated effort to distance the bank from his conservative views. [1, 2] The Defense: Capital One asked a federal court in Florida to dismiss the amended lawsuit, stating the closures stemmed from standard compliance and risk assessments rather than political retaliation.
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"Trump had more than 300 bank accounts with Capital One before they were closed. The bank accounts were for a variety of Trump-branded businesses, ranging from a golf course to a winery. Trump had banked with Capital One for more than a decade before the accounts were closed.
In the court filing, Capital One said it had no reason to make a political statement with the closure of Trump's accounts in 2021 and the move had everything to do with activity in the accounts being flagged by anti-money laundering experts with the bank."
AI Overview
Capital One disclosed in a federal court filing that it closed hundreds of bank accounts linked to the Trump Organization in 2021 following an internal anti-money laundering review. The filing is part of a legal defense to dismiss a lawsuit from Donald Trump and his business entities alleging politically motivated "debanking".
Summary
While regulatory bodies like FinCEN previously fined Trump casino properties for anti-money laundering compliance failures, and financial institutions like Capital One closed accounts based on automated or internal AML risk indicators, there are no criminal convictions or formal legal charges of money laundering against the Trump Organization itself.
"The closures were the result of months of analysis and a careful review by Capital One's AML team in accordance with bank policies and regulatory guidance," lawyers for the bank said in a court filing on July 31. "Capital One never publicized the termination decision nor its confidential internal process giving rise to the closure, and it permitted Plaintiffs several months (and granted several extensions) to find new banking services, which they did."
8 comments:
What did MAGA expect?
MAGA does not care. The loyal cultists of MAGA revere their grifter for his dishonesty, corruption, and incompetence. They are proud of his lack of character and decency. They identify with his unscrupulous behavoirs and disregard for others other than himself.
MAGA got exactly the person and character that they wanted. They see themselves in their cult leader and THAT is the power he has over them and why they wil never disavow the ignorant, hateful, narcissist trump.
Just shows how either brazen or stupid trump is. Every time they sue someone, it opens them up for discovery. This has happened so many times, I'm assuming the term is brazen--as trump could not care less if all his shady operations are out for all to see. Nothing anyone can do about it anyways and his admirers just don't care. I mean, they were all so proud of the fact that he hardly paid any taxes. He, himself said, "that makes me smart" or something to that effect.
Trump and his henchmen are the largest crime cartel in US history.
Their destruction of our values, ethics, democracy, and standing in the world will outlast all of us, I'm afraid.
Always on the lookout for the 'Art of the Deal' -
"Donald Trump Jr. helped take an online retailer known as the “Amazon of guns” public last year. Now, GrabAGun, where the U.S. president's son is a shareholder and board member, could reap a windfall from a proposed rule change at Trump's Bureau of Alcohol, Tobacco, Firearms and Explosives that would make it easier to ship guns directly to people's homes."
If finalized, the rule would be among the most consequential changes to the U.S. gun policy in two decades, potentially driving huge growth in online gun sales, according to ten industry officials, store owners, and gun-control advocates interviewed by Reuters."
:" Donald Trump Jr., the eldest son of President Donald Trump, holds a financial stake and serves as a board member for GrabAGun, a major online firearm retailer. A proposed federal rule change by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) could significantly boost the company's online sales"
LOL, who didn't see this coming!
"Donald Trump is seeking to narrow his $10 billion defamation lawsuit against the BBC by recasting his claims around personal reputational harm rather than business damages. The strategic shift aims to block a court order requiring him to disclose extensive financial records for roughly 400 entities"
BB... whatever we can do to make exercising your Constitutional Right to own a gun, or multiple guns is alright by me. With this new found desire to make using our rights easier, I'm sure the next area the Trump Admin and their kids will work to expand will be voting rights.
This Sounds like a load of Progressive bull crap to me.
And if it’s true then why I haven’t heard or seen anything about it any else
Perhaps you haven't heard or seen anything about it because you only consume news from venues that confirm your MAGA biases.
The news came from a FEDERAL COURT FILING, not from "bull crap."
"In a federal court filing, Capital One revealed it closed more than 300 accounts linked to Donald Trump and his businesses in 2021 following an anti-money laundering review. The bank stated the closures were routine and non-political, while Trump's legal team claims the action was politically motivated.
Background and Court Disclosures
The Disclosure: Capital One disclosed the details in a motion to dismiss a lawsuit filed by the Trump Organization and Eric Trump.
The Number: More than 300 accounts associated with various Trump-branded entities (such as a winery and golf courses) were shut down.
The Timeline: The bank asserted that the closures in 2021 followed months of analysis by its anti-money laundering team and gave the Trump businesses several months to find other banks.
Capital One's Stance: The bank maintains the review followed internal policies and regulatory guidance, and that the reason only became public because the Trump Organization sued."
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