MSNBC legal analyst Lisa Rubin has raised the possibility of new criminal charges for Donald Trump following revelations from a court-appointed monitor overseeing his New York fraud case.
The monitor, former federal judge Barbara Jones, identified “certain deficiencies” in Trump’s financial disclosures, including incomplete, inconsistent, and erroneous information, and a missing $48 million loan that Trump claimed to owe.
Rubin highlighted the potential tax and financial reporting implications of the missing loan, suggesting that if it was actually a gift, it could lead to significant tax consequences and further financial improprieties.
“One of the things that it points to, and maybe the thing that’s most troubling about it, is for years it’s been understood that one of the business entities in the Trump Organization loaned former president Trump personally $48 million,” Rubin said.
“According to Judge Jones in a footnote in this letter, she could never find, no matter how many times she asked, documentation of that loan and was later told, essentially, that the loan didn’t exist.”
“Trump organization lawyers, they refute that. They say the loan did exist and what we did was give Judge Jones an intra-company memo telling her that debt had been extinguished. But I’ve looked at that memo from December 2023: it is a memo to the file, so nobody even had the guts to sign it essentially. It just says that the debt has been extinguished. There is still, to this day, no documentation that the loan existed,” Rubin said.
“And you might be thinking to yourself, what’s the big deal about that?” Rubin asked.
“The big deal is if that loan did not exist and it was, instead a gift, there would be massive tax consequences to that as well as some improprieties in the financial reporting that went to Trump’s financial institutions and insurance companies. In essence, a continuation of that same fraud that’s been going on for years and has been showing up in his financial disclosure.”
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