For years, he’s gotten away with it. He lied. He cheated. He treated the government like a get-rich-quick-scheme and his most ardent followers like marks.
But now, Donald Trump could be facing serious criminal charges. The kind of charges that might lead to the former president going to jail.
The Supreme Court turned down Trump’s final appeal, and that means his accounting firm has to turn over his tax records and business documents to Manhattan District Attorney Cy Vance ASAP. “Trump's lawyers will always come up with something, but there should be no reason why the grand jury won't get these financial records tomorrow,” Daily Beast legal analyst Jay Michaelson tells Molly Jong-Fast on the latest edition of The New Abnormal.
“Basically, what we all know happened was: Trump inflated the value of his business when it suited him, which is in order to get on the Forbes list [of richest people] and also to get loans from Deutsche Bank. And then he deflated his worth in order to save on taxes. So that's illegal... Not only is that insurance fraud and bank fraud, but that could affect those loans,” Michaelson adds.
“Will he go to jail for, like, the rest of his life? Probably no. Is it possible that this would lead to criminal charges that would carry jail time? I would say that's pretty likely, and we could have a grand jury indictment fairly soon,” Michaelson continues. “A lot of these kinds of white collar crimes are settled, and they're settled out for large financial settlements. In this case, I'm not sure that Cy Vance is interested in settling with Donald Trump—even if Donald Trump could afford the fines that he would have to pay, which I don't think he can.”
To which Jong-Fast asks, “Can he borrow it from Jared?”
“Unfortunately, he's not the financial wizard that he makes himself out to be.”
“Wait. But Jared made $200 trillion.”
“Don't fall for it. I mean, he's cute, but he's not really that smart.”
Also on a packed episode of The New Abnormal: Tommy ‘Quentin Quarantino’ Marcus talks about all the cash he raised for Planned Parenthood—in Rush Limbaugh’s name. ‘How to Be a Liberal’ author Ian Dunt tells us how post-Trump Americans should see still-Boris Brits like him: “So what you should do is look at us like we were like someone you used to date that is still taking heroin. ‘I'm so glad I left that behind,’ because that's where we are.”
Finally, Senate Intelligence Committee Chairman Sen. Mark Warner about how the fight against the far-right needs to be taken international. “We're going to do a deep dive on this anti-government extremism—and particularly some of these groups, their ties to right-wing groups in Europe, oftentimes amplified by Russia,” he says. “I know the threat is real. I know it's not just in this country.”
If you haven't heard, every single week The New Abnormal does a special bonus episode for Beast Inside, the Daily Beast’s membership program. where Sometimes we interview Senators like Cory Booker or the folks who explain our world in media like Jim Acosta or Soledad O’Brien. Sometimes we just have fun and talk to our favorite comedians and actors like Busy Phillips or Billy Eichner and sometimes it's just Rick & Molly discussing the fuckery. You can get all of our episodes in your favorite podcast app of choice by becoming a Beast Inside member where you’ll support The Beast’s fearless journalism. Plus! You’ll also get full access to podcasts and articles. To become a member head to newabnormal.thedailybeast.com
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