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Four individuals filed a lawsuit in the Southern District of New York District Court on Monday against Trump Corporation and Donald Trump alleging violations of the Racketeering Influenced and Corruption Organizations (RICO) Act. The lawsuit also names Donald Trump Jr., Eric Trump, and Ivanka Trump as defendants.
The lawsuit alleges that the defendants made false and misleading statements that encouraged individuals to invest in a multi-level marketing company named American Communications Network (ACN) while being paid by ACN to make the statements. Trump is accused of misrepresenting the risk profile of ACN, stating that ACN was a low-risk business venture. The lawsuit states that Montana investors only receiving an average compensation of $53.25 in compensation after an average of $752.60 of payments to ACN.
Trump is also accused of misleading investors by falsely claiming the viability of the ACN business model. The lawsuit sites a French Directorate General for Competition Policy, Consumer Affairs, and Fraud Control report that stated only 1 percent of ACN recruits would see a satisfactory income. The lawsuit then accuses Trump of misrepresenting the viability of the ACN products, specifically concerning a video-phone marketed by the company. The lawsuit states that there is “no reason to expect consumers would demand the phone, and nothing to suggest a standalone videophone was a desirable product in light of its competition.” ...
Mr. Trump & Family Facing Lawsuit Over Misleading Investors (RICO Act)
Mr. Trump settled his fraudulent Trump University lawsuit before he was inaugurated. How will he handle this fraudulent scheme?
Do you think this is an appropriate use of the Racketeering Influenced and Corruption Organizations (RICO) Act?
This is the kind of crap he had done for years on end in his real estate businesses. He would mislead buyers and the lenders and ultimately his investment partners and contactors as well.
He translated that low moral and ethical practice into other types of business, and swindled very many people.
THIS IS WHY THE MAN IS OBSESSED WITH SECRECY. It explains his penchant for non-disclosure agreements.
It's not just his low moral standards (we know how he treats people, we don't let him near our daughters), it is his criminality. He uses the court system we support with our tax dollars to enforce silence on the people who know what he is up to.
There is a great podcast called Trump Inc. that people should listen to. It is fascinating.
He certainly is. And I think his luck is going to run out here pretty soon.
Mueller has met with Paul Manafort and Michael Cohen a combined 21 times in the last two months. Mueller has also called Steve Bannon back for more questioning just last week. Mueller is closing in. Fast.
Also, the SDNY is chugging away with its investigation of corruption and fraud in the Trump Org.
And now this civil RICO case.
One of these cases/investigations is going to stick, and Trump won't be able to "fake news!" his way out of it.
Sure seems to be taking the Trump supports a while to get their talking point on this set up. How will they deflect the actions of Dear Leader and Co to be something against Obama or Hillary?
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