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Trump raised $200m from false election claims. What happens to the money now?

SilentPanda

SilentPanda

Member
Nov 6, 2017
13,973
Earth
The battle is lost. The supreme court and electoral college have spoken. Even the Senate majority leader, Mitch McConnell, so adept at remaking the rules for political advantage, has acknowledged that Donald Trump will not be the next president.

But the money flowing into Trump's political coffers suggests that defeat will not drive the soon-to-be-former president into the political shadows.

Trump has been on a fundraising drive since the election, rapidly bringing in an astonishing $200m or more on the back of his false claims that the vote was rigged.
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Most of the cash is directed to Save America, an organisation formed as a leadership political action committee (Pac) shortly after the election. Leadership Pacs were designed to allow individuals to raise money in support of a favoured candidate and Trump cannot legally use the proceeds to directly fund a run for office himself, such as another bid for the presidency in four years.
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The money flooded in but most of it will go nowhere near fighting the outcome of an election that is already settled. Some was used to pay off Trump's campaign debt, and 25 cents in every dollar goes directly to the Republican party. The remainder is paid to Save America.

What Trump cannot use the donations for is to resolve the legal and financial problems he faces when he leaves the White House which may stand in the way of future political ambitions.
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The president is also facing huge debt repayments. Trump has personally guaranteed about $420m in debt owed by his businesses which has to be repaid in the coming years, according to the New York Times.

The bulk of those debts are with Deutsche Bank. Last month Reuters reported that the bank was trying to sever ties with the president.

The Trump Organization, the president's umbrella group that is currently overseen by his two sons, owes about $340m to Deutsche Bank. The loans, which are against Trump properties, start coming due in two years.
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www.theguardian.com

Trump raised $200m from false election claims. What happens to the money now?

The president could use the funds to ensure he and his allies remain a powerful force in US politics
www.theguardian.com www.theguardian.com
 
killerrin

killerrin

Member
Oct 25, 2017
9,248
Toronto
The way I see things going. He either uses the money to create a "competitor" to fox news, to fund his 2024 run, Or he uses it to build another stupid golf course.

Maybe all 3
 
VariantX

VariantX

Member
Oct 25, 2017
16,925
Columbia, SC
its likely going to pay off debts to people that he can't bully into submission with lawyers and whatever's left is going either into his pockets or a new scheme.
 
Beer Monkey

Beer Monkey

Banned
Oct 30, 2017
9,308
Trump's actual debts are likely WAY larger than his known debts.

But there will always be a line of cultists trying to donate even more.
 
Pet

Pet

More helpful than the IRS
The Fallen
Oct 25, 2017
7,070
SoCal
He's going to start a mega church and start taking donations.
 
CountAntonio

CountAntonio

Member
Oct 25, 2017
21,794
2f5.gif
 
Morrigan

Morrigan

Spear of the Metal Church
Member
Oct 24, 2017
34,467
The article mentions that he can't use the money for various things but... when has that ever stopped him lol
 
Akira86

Akira86

Member
Oct 25, 2017
19,610
All bets are off once he had his son-in-law create a shell company to absorb funds from their various sources.

He'll do it and make you catch him, and then say he didn't know he couldn't. Or he'll expect it all to be so complicated
that the already overworked bureaucracy will just make a deal. Like the parents who are just exhausted by their bad kid they make deals with them.
 
Chaos2Frozen

Chaos2Frozen

Member
Nov 3, 2017
28,117
I wonder if he could keep it up indefinitely

like even after Biden gets sworn in would people still be donating to him as part of the "resistance movement" sort of shit
 
Boondocks

Boondocks

Member
Nov 30, 2020
2,686
NE Georgia USA
It supposedly is going to a PAC so he can pay family and friends salaries, use it for travel, food, and lodging, office space and staff, and public relations.
 
kaputt

kaputt

Member
Oct 27, 2017
1,210
He'll launch a kickstarter to fund his personal defense against unknown menaces of the deep state, he can't trust the secret service. Some shady contributors will show up and donate 200 million for him. And he'll also get even more money than that from his supporters.

Somehow though he'll end up having even more debt in the future
 
Netherscourge

Netherscourge

Member
Oct 25, 2017
19,016
It will go to the Trump MAGA-Patriotic Legal Defense fund, of course. Wherein, he will defend his right to not pay taxes to the socialist liberal election fraudsters who stole his election. Just ask Rudy.
 
Aurongel

Aurongel

Attempted to circumvent ban with alt account
Banned
Oct 28, 2017
7,065
VariantX said:
its likely going to pay off debts to people that he can't bully into submission with lawyers and whatever's left is going either into his pockets or a new scheme.
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Yup. I also expect much of it to just be straight up wasted by mismanagement and incompetence. Even Republican strategist circles and PACs have remarked about his organizations ability to mismanage money. I expect a lot of it to just straight up vanish.
 
Slayven

Slayven

Never read a comic in his life
Moderator
Oct 25, 2017
93,548
Aurongel said:
Yup. I also expect much of it to just be straight up wasted by mismanagement and incompetence. Even Republican strategist circles and PACs have remarked about his organizations ability to mismanage money. I expect a lot of it to just straight up vanish.
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I noticed that, they blow through it as fast as it comes in. I expect a ponzi style crash eventually
 
blackhawk163

blackhawk163

Member
Oct 28, 2017
1,243
Most of the cash is directed to Save America, an organisation formed as a leadership political action committee (Pac) shortly after the election. Leadership Pacs were designed to allow individuals to raise money in support of a favoured candidate and Trump cannot legally use the proceeds to directly fund a run for office himself, such as another bid for the presidency in four years
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Since he can't use it directly he'll have the PAC setup shop in mar a lago or elsewhere and charge them "fair market" rates to run the op from his property.
 
Chimpzy

Chimpzy

Member
Dec 5, 2018
1,770
Pay off his debts lest he mysteriously die from poisoning. If anything is left after, it goes in his pocket.
 
dabig2

dabig2

Member
Oct 29, 2017
5,116
cleaning.gif


Biske said:
He funnels as much of it as possible back to himself through shell corporations

www.vanityfair.com

Oops: Jared Kushner Reportedly Created a Shell Company to Secretly Pay Trump Family Members and Spend Half the Campaign’s Cash

And first daughter-in-law Lara Trump was the president.
www.vanityfair.com www.vanityfair.com
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Sounds familiar. Anyone remember Brad Pascale?

www.cnbc.com

Trump campaign accused of masking $170 million in spending

President Donald Trump's reelection campaign violated the law by masking millions in spending, a nonprofit democracy group alleged in a complaint filed with the Federal Election Commission on Tuesday.
www.cnbc.com www.cnbc.com
President Donald Trump's reelection campaign violated the law by masking millions in spending, a nonprofit democracy group alleged in a complaint filed with the Federal Election Commission on Tuesday.

The Campaign Legal Center said in the 81-page filing that the president's reelection campaign and campaign committee hid $170 million in spending to major vendors as well as family members and associates by diverting the money through firms headed by Brad Parscale, who was replaced as campaign manager earlier this month, as well as other senior campaign officials.
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The nonprofit alleged that the campaign effectively laundered money in order to hide payments to contractors and advisors, including the maker of a campaign app, as well as Lara Trump, the president's daughter-in-law, and Kimberly Guilfoyle, a former Fox News host who is dating the president's son Donald Trump Jr.

"This scheme flies in the face of transparency requirements mandated by federal law, and it leaves voters and donors in the dark about where the campaign's funds are actually going," said Trevor Potter, a former Republican FEC chair and the president of the Campaign Legal Center.
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RICO their asses all day every day.
 
Cotton McKnight

Cotton McKnight

Member
Oct 28, 2017
2,717
Siloam Springs
VariantX said:
its likely going to pay off debts to people that he can't bully into submission with lawyers and whatever's left is going either into his pockets or a new scheme.
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Nah he's not that smart, he just wants to brag about how well his businesses are doing after all of his qfollowers pay their tithes to his cause.

Guy likely thinks he can out run his creditors. I don't think he has ever paid a debt unless the US government forced him to do so when he filed for bankruptcy over the casino in NJ.
 
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