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Post by Jen in NCal on Feb 16, 2022 19:18:37 GMT
Can someone explain it to me like I'm an idiot?
Trump gives info to ? who does what with it? and how does it end up with Mazers? and what do they do with it?
Seriously, use small words. Pictures would be great.
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Post by busy on Feb 16, 2022 19:25:45 GMT
That was venture capital/private equity, private investments, and the like. I do not believe any traditional financial institutions made loans to Theranos. I think it was actually a potential loan that finally brought everything out - Softbank wanted an audit for a $100 million loan - prior to that it was private investments I wouldn't call either Fortress or SoftBank traditional financial institutions. |
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lizacreates
Pearl Clutcher
Posts: 3,856 
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Post by lizacreates on Feb 16, 2022 19:31:19 GMT
Can someone explain it to me like I'm an idiot? Trump gives info to ? who does what with it? and how does it end up with Mazers? and what do they do with it? Seriously, use small words. Pictures would be great. --Trump Org provides information (most importantly, valuations) on properties and other assets to accounting firm Mazars. --Mazars then produces financial statements based on the representations made by Trump Org. --Those financial statements are then used by Trump Org to apply for loans. If the valuations Trump Org provided to Mazars are false, meaning he overvalued the assets, then he lied to the lenders and the status of his loans will likely be jeopardized. It also precludes him from seeking refinancing for those loans because lenders are now aware the representations in the financial statements have been disavowed by Mazars. (It’s a well-known modus of his—overvalue for the purposes of loans and insurance, and undervalue for the purposes of taxes, esp property taxes.) |
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Post by onelasttime on Feb 16, 2022 21:15:46 GMT
I’m not sure I totally understand all this, and that’s fine, but apparently it just got more interesting.
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Post by onelasttime on Feb 16, 2022 23:19:50 GMT
I’m not sure if this belongs here. But more on the court case against trump and the statement he issued yesterday in response to accounting firm dumping him.
He really is dumber then dirt.
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Post by mollycoddle on Feb 16, 2022 23:25:35 GMT
I’m not sure I totally understand all this, and that’s fine, but apparently it just got more interesting. I just read it. He lies like he breathes. This could get interesting. |
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Post by peasapie on Feb 16, 2022 23:35:58 GMT
Can someone explain it to me like I'm an idiot? Trump gives info to ? who does what with it? and how does it end up with Mazers? and what do they do with it? Seriously, use small words. Pictures would be great. The client gives their financial data to their accountant and the accountant fills out the appropriate forms. The assumption is that the data is honest, and that the accountant is similarly honest in recording it. If the info the client gives the accountant is inaccurate (whether intentionally or not), then the accountant's reports are inaccurate. Trump's accounting firm has stood by him for years, through many allegations of shady practices. This week, after examining financial records, the NY Attorney General said there are "misstatements and omissions" in Trump's financial statements. The fact that the accounting firm is now backing away and no longer standing beside his company is not a good sign for Trump. |
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Post by zima on Feb 17, 2022 0:25:25 GMT
I’m not sure if this belongs here. It's delish. ps -  |
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