Started By
Message

re: Steve Bannon and others arrested charged with fraud

Posted on 8/20/20 at 2:57 pm to
Posted by Decatur
Member since Mar 2007
28878 posts
Posted on 8/20/20 at 2:57 pm to
The guy that posted that just deleted the post. I'll edit.
Posted by RuLSU
Chicago, IL
Member since Nov 2007
8129 posts
Posted on 8/20/20 at 3:01 pm to
It’ll be nice if this is the first of many.

If you believe either party has a monopoly on corruption you’re delusional.
Posted by Turbeauxdog
Member since Aug 2004
23514 posts
Posted on 8/20/20 at 8:12 pm to
quote:

If you rep that 100% of donated funds go to building a wall, but you siphon off a portion to your personal account...what is that called? Is it legal?


I don’t know what the fine print was. But the language is usually proceeds which would allow for expenses.
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 8/20/20 at 10:52 pm to
quote:

I don’t know what the fine print was. But the language is usually proceeds which would allow for expenses.




Fine print.
Posted by gthog61
Irving, TX
Member since Nov 2009
71001 posts
Posted on 8/20/20 at 10:53 pm to
good thing he hasn't had anything to do with the admin for more than 2 years, you know, before any of this
Posted by cwill
Member since Jan 2005
54755 posts
Posted on 8/20/20 at 10:58 pm to

Posted by September 1948
Member since Jun 2018
2133 posts
Posted on 8/20/20 at 11:16 pm to
Whoopsie, it fell in the toilet and I didn't notice and I flushed...
Posted by JudgeHolden
Gila River
Member since Jan 2008
18566 posts
Posted on 8/20/20 at 11:21 pm to
quote:

don’t know what the fine print was. But the language is usually proceeds which would allow for expenses.


You should read the indictment.
Posted by Turbeauxdog
Member since Aug 2004
23514 posts
Posted on 8/21/20 at 6:13 am to
quote:

You should read the indictment.



I’ll pass , it’s work product of sdny
Posted by Turbeauxdog
Member since Aug 2004
23514 posts
Posted on 8/21/20 at 6:44 am to
Also to add.

Did no one notice bannons involvement went through his long standing non profit?


But they don’t claim the non profit violated tax laws?

So if the money went to his non profit and the non profit is in good standing, how can you claim bannon took a profit?
Posted by JudgeHolden
Gila River
Member since Jan 2008
18566 posts
Posted on 8/21/20 at 5:59 pm to
quote:

it’s work product of sdny


Ok. But if even a few of those facts are true, Brannon is going to jail.
Posted by Turbeauxdog
Member since Aug 2004
23514 posts
Posted on 8/21/20 at 6:09 pm to
quote:

Ok. But if even a few of those facts are true, Brannon is going to jail


Which ones, specifically ?

Posted by JudgeHolden
Gila River
Member since Jan 2008
18566 posts
Posted on 8/21/20 at 8:52 pm to
quote:

Which ones, specifically ?


It’s an image scan in SDNY, so I can’t post text.

Basically someone does an online campaign to raise private money to pay for the wall. It succeeds beyond all expectations, Raising 20 mil.

The funding platform says it can’t release that kind of jack to the individual who started it. He needs a nonprofit, and, worse, all the donors have to “opt in” individually to transfer the money to the nonprofit. Basically they have to reraise the money.

Enter Bannon. Repeated assurances that no salaries will be paid, and that “100%” of all money raised go directly to construction. They reraise the entire 20 mil plus five more.

The guy running it decides he wants a salary, despite saying he wouldn’t take one. So Bannon has them donate the salary to another nonprofit he controls, which pays the salary. Money laundered.

The guy uses the money that Bannon channeled to him from the nonprofit (which had promised no salaries and 100% spent on construction) on cosmetic surgery, a boat, his personal taxes, stuff like that.

Brannon’s nonprofit ends up sucking about one million out, about 650 of which goes to his personal expenses unrelated the the build the wall effort for which it was promised. He will have a hard time explaining that away as travel expenses.

I don’t prejudge the man. He gets his day in court. All I’m saying is that it’s a strong indictment for fraud and money laundering.



Posted by Turbeauxdog
Member since Aug 2004
23514 posts
Posted on 8/22/20 at 7:22 am to
I believe you’re conflating bannon with kolfsge because the entire point is to wrap bannon up with kolfsge to hurt the president. Because the sdny is trash.


100% of the funds raised . . . will be used in the execution of our mission and purpose” because, as BANNON publicly stated, “we’re a volunteer organization.”

That’s the strongest statement they have from bannon. The money went to his national sovereignty non profit. Seems right in line with their mission and purpose.
Posted by JudgeHolden
Gila River
Member since Jan 2008
18566 posts
Posted on 8/22/20 at 9:16 am to
quote:

conflating bannon with kolfsge


Nope. Read the indictment.

Bannon’s problem isn’t fraud. It’s money laundering in aid of Kolfage’s fraud.

Bannon knew that Kolfage had made representations in reraising the money (no salary).

Bannon then used his nonprofit to funnel that money as a salary.

That’s trouble right there.
This post was edited on 8/22/20 at 9:19 am
Posted by White Bear
Yonnygo
Member since Jul 2014
15011 posts
Posted on 8/22/20 at 10:18 am to
Looks like the boys got a little haughty.
Posted by bamarep
Member since Nov 2013
51859 posts
Posted on 8/22/20 at 10:21 am to
There's more to this story.

Keep an eye on the Chinese dude Bannon was hooked up with.
first pageprev pagePage 7 of 7Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram