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NYT: Trump has Non-disclosed Chinese bank accounts?

TeeDubya

By TeeDubya
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BradInATX

BradInATX 9208

Posted
Posted

At the very least, it provides Biden something to fire back when Trump assaults him with "but Hunter Biden!"

 

In fact, 90 minutes of them yelling "HUNTER! CHINA!" back and forth at each other is what I'm expecting at this point. And I'm fine with that.

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Doc Sam Beckett

Doc Sam Beckett 5784

Posted
Posted
55 minutes ago, Anastasis said:


Serious question, where are you seeing that trump ran 17mm through this undisclosed Chinese account while he was president? 

The NYT article 

"The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses.

In 2017, the company reported an unusually large spike in revenue — some $17.5 million, more than the previous five years’ combined. It was accompanied by a $15.1 million withdrawal by Mr. Trump from the company’s capital account."

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Anastasis

Anastasis 23395

Posted
Posted
1 hour ago, Anastasis said:


Serious question, where are you seeing that trump ran 17mm through this undisclosed Chinese account while he was president? 

 

21 minutes ago, Doc Sam Beckett said:

The NYT article 

"The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses.

In 2017, the company reported an unusually large spike in revenue — some $17.5 million, more than the previous five years’ combined. It was accompanied by a $15.1 million withdrawal by Mr. Trump from the company’s capital account."

That's not what the article says.  The paragraph preceding the part you quote identifies "the company" being referred to (with the 17MM 2017 revenue) as "Trump International Hotels Management." The paragraphs that follow describes one US-based transaction (buyout of the SOHO NY contract) that accounts for the large portion of that revenue. Earlier paragraphs in that article describe that particular LLC as running the other international operations in Scotland and Ireland, and the revenue from China as a few thousand dollars.  

 

The tax records do not include details on how much money may have passed through the overseas accounts, though the Internal Revenue Service does require filers to report the portion of their income derived from other countries. The British and Irish accounts are held by companies that operate Mr. Trump’s golf courses in Scotland and Ireland, which regularly report millions of dollars in revenue from those countries. Trump International Hotels Management reported just a few thousand dollars from China.

 

Reading comprehension should be a #bothsides skill guys. I don't expect much of it from the twatter sphere, but thought maybe we could do better here. 

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Anastasis

Anastasis 23395

Posted
Posted

And just to be clear, if Trump failed to disclose a bank account on his financial disclosures, that is a big deal.  We should find out and know exactly how much money flowed through that account. The lawyer says the account has been dormant since 2015. That should be easy to prove up if it is in fact true.   

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Anastasis

Anastasis 23395

Posted
Posted (edited)
7 minutes ago, softlynow said:

Y’all should let him post into the void on this one. You know his game. Don’t play it. 

Tweet posted here: Trump ran 17MM through an undisclosed chinese account while president.

A: Can somebody tell me where there are seeing that?

Doc: NYT

A: That's not what the NYT's article says.

Softly: ad hominem. 

 

Sorry to interrupt the twatter/Cloak Room echo chamber.  Back to y'alls regularly scheduled activities.  I see Hugo has dusted off the Steele Dossier for this thread as well. Have fun. 

Edited by Anastasis
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GhostOfTomJoad

GhostOfTomJoad 9307

Posted
Posted
Is this what he got so pissed at Leslie Stahl about?
I'm hoping like hell it is. It would be classic 60 Minutes to blindside him with a question that's as unfair as "do you have an undisclosed bank account in China?"

Dotard would lie, of course, & claim he's never done any business in China. Then, if Stahl cock flops out the documents from the NYT....

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Hefeweizen

Hefeweizen 5307

Posted
Posted
32 minutes ago, Anastasis said:

Tweet posted here: Trump ran 17MM through an undisclosed chinese account while president.

A: Can somebody tell me where there are seeing that?

Doc: NYT

A: That's not what the NYT's article says.

Softly: ad hominem. 

 

Sorry to interrupt the twatter/Cloak Room echo chamber.  Back to y'alls regularly scheduled activities.  I see Hugo has dusted off the Steele Dossier for this thread as well. Have fun. 

Serious question.  Did you get to the part where trump collected money from it in 2017?  Because that sure looks like it was while he was in office.  He took 17 mil out that he declared, personally.  
 

I probably shouldn’t try to engage but it seems like maybe everyone should read the whole article?

 

#bothsides!

 

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TwiceHorn

TwiceHorn 31280

Posted
Posted

If Trump had substantial assets in China, it wouldn't surprise me if he had to have a bank account there and jump some hoops to expatriate money.

But, I don't believe he has substantial assets in China.

And none of that accounts for why it wasn't disclosed.  Although I'm not sure what rules require you to disclose accounts, as opposed to income deposited in those accounts or generated by the accounts.

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Fudge Nuggets

Fudge Nuggets 19151

Posted
Posted
13 minutes ago, TwiceHorn said:

If Trump had substantial assets in China, it wouldn't surprise me if he had to have a bank account there and jump some hoops to expatriate money.

But, I don't believe he has substantial assets in China.

And none of that accounts for why it wasn't disclosed.  Although I'm not sure what rules require you to disclose accounts, as opposed to income deposited in those accounts or generated by the accounts.

As mentioned earlier, if you have signature authority on any account that exceeds a certain balance at any point during the year you have to disclose it on your taxes.  Doesn’t matter if you got one cent of income deposited into the account or not.  It was a rule put in place in the name of anti-money laundering but actually just another avenue for the IRS to get all up in your shit.

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Anastasis

Anastasis 23395

Posted
Posted
17 minutes ago, Hefeweizen said:

Serious question.  Did you get to the part where trump collected money from it in 2017?  Because that sure looks like it was while he was in office.  He took 17 mil out that he declared, personally.  

I probably shouldn’t try to engage but it seems like maybe everyone should read the whole article?

#bothsides!

I am not clear on precisely what you are asking.  Are you asking me if Trump personally withdrew 17MM from the undeclared Chinese account? There is nothing in the article that suggests that either explicitly or implicitly. 

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Anastasis

Anastasis 23395

Posted
Posted
3 minutes ago, Fudge Nuggets said:

As mentioned earlier, if you have signature authority on any account that exceeds a certain balance at any point during the year you have to disclose it on your taxes.  Doesn’t matter if you got one cent of income deposited into the account or not.  It was a rule put in place in the name of anti-money laundering but actually just another avenue for the IRS to get all up in your shit.

Foreign accounts, right?  Not domestic accounts?  What is the limit? I don't think that I have ever declared an account balance on any return. 

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Nice Guy Eddie

Nice Guy Eddie 13414

Posted
Posted

Trump won't answer for this in the next 2 weeks. At best he would say that it's a company bank account that is not under his control. and besides it's just another example of his success that he doesn't have personal knowledge of a bank account with a large balance. 

Anyone voting for Trump doesn't care. 

Now this could lead to future charges.  Or perhaps a renewed congress investigation especially in the unlikely scenario of a Trump win but the Dems take full control of Congress.

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Horn Dog

Horn Dog 9672

Posted
Posted
3 hours ago, Doc Sam Beckett said:

The NYT article 

"The company has direct ownership of THC China Development, but is also involved in management of other Trump-branded properties around the world, and it is not possible to discern from its tax records how much of its financial activity is China-related. It normally reports a few million dollars in annual income and deductible expenses.

 

If 'THC China Development' is a large marijuana processing farm that Trump is working on, then I am willing to look the other way on this. 

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