Connect with us

CRIME

Insider Trading? Madison Cawthorn Implicated in ‘Pump-And-Dump Cryptocurrency Scheme’: Report

Published

on

U.S. Rep. Madison Cawthorn (R-NC) is being implicated by two well-known watchdog groups in what is being called a possible illegal insider trading “pump-and-dump cryptocurrency scheme.”

The right-wing Washington Examiner broke the story, reporting that the North Carolina Republican “may have violated federal insider trading laws.”

Cawthorn repeatedly appeared to promote a cryptocurrency’s “meme coin” called “Let’s Go Brandon,” a direct attack on President Joe Biden.

“On Dec. 29, the beleaguered North Carolina congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader” of the LGB cryptocurrency coin, The Examiner reports.

“LGB legends. … Tomorrow we go to the moon!” Cawthorn, who has stated publicly he owns the cryptocurrency, posted on Instagram in response to the picture posted on Koutoulas’s Instagram page.

The next day, LGBCoin did exactly as the lawmaker predicted.

“This looks really, really bad,” Dylan Hedtler-Gaudette told The Examiner. Hedtler-Gaudette is the government affairs manager for the federal watchdog group Project on Government Oversight (POGO). “This does look like a classic case of you got some insider information and acting on that information. And that’s illegal.”

Another watchdog group says Cawthorn may have committed an illegal act that could land him in jail.

“Craig Holman, a government affairs lobbyist for Public Citizen, said if Cawthorn purchased LGBCoin before Dec. 30 with nonpublic knowledge of the cryptocurrency’s pending deal with Brown, that would constitute insider trading, a federal crime that can involve prison time,” The Examiner adds.

Here are a few of the appearances Cawthorn and Koutoulas made together:

 

View this post on Instagram

 

A post shared by James Koutoulas (@jameskoutoulas)

 

View this post on Instagram

 

A post shared by James Koutoulas (@jameskoutoulas)

EARLIER –
Madison Cawthorn Was Just Cited for Having a Gun at the Airport. Again.

Continue Reading
Click to comment
 
 

Enjoy this piece?

… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.

NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.

CRIME

‘Officially on Georgia-Watch’: Legal Expert Says Possible Trump Probe Indictments Could Come at Any Time

Published

on

Professor of Law Joyce Vance says, “We’re officially on Georgia-watch,” now that a new grand jury has been constituted and could hand down indictments at any time in that state’s investigation into Donald Trump and his allies and their alleged attempts to overturn the 2020 presidential election results.

Vance, the well-known MSNBC legal contributor, podcaster, and former U.S. Attorney says in her Substack newsletter, “it’s entirely possible that this could be the week to expect the world to turn upside down.”

“The first signal we’ll probably get—you’ll be in a crowded restaurant, or at work, or on a train, or in the gym, and suddenly everyone’s phone will start blowing up all at once,” Vance explains. “Reporters tend to stalk the clerk of court’s office in person and online when they know a big case is close. We’re in that sweet spot, although it’s important to keep in mind that we could remain there for awhile.”

Vance does warn that “it’s not certain that anyone, let alone Donald Trump, will be indicted. But Fani Willis, the Fulton County district attorney, certainly seems to be giving off all the signals that she means business here.”

READ MORE: Tulsi Gabbard: Biden Cabinet Picks ‘Based on Genetics, Race, Blood, Genes’ – Same ‘Geneticist Principles Embodied by Hitler’

Assuming Trump does get indicted, what are the possible charges he might be facing?

“First up, election-related crimes: solicitation to commit election fraud, intentional interference with performance of election duties, interference with primaries and elections, and conspiracy to commit election fraud,” she explains. There could also be more “general crimes,” like “making false statements, improperly influencing witnesses, forgery, and general criminal solicitation.”

It might also get even more serious for Trump.

“Georgia’s state RICO statute could also be charged: RICO stands for the Racketeer Influenced and Corrupt Organizations Act and originally referred to a federal law passed in 1970 to strengthen the tools and charges available to federal prosecutors for dealing with the unlawful activities of those engaged in organized crime—Mafia or other entities devoted to organized, ongoing, serious criminal conduct.”

As Vance points out, while it’s unknown if Fulton County D.A. Fani Willis will choose to indict Trump or anyone, the special grand jury foreperson who made headlines earlier this month made clear they had recommended multiple indictments.

Image: Official White House photo

 

Continue Reading

CRIME

‘Next Chapter?’ Manhattan DA Signals Trump Himself Might Finally Land Under Indictment

Published

on

Manhattan district attorney Alvin Bragg may finally have changed his mind about indicting former president Donald Trump.

The recent conviction of the Trump Organization and its chief financial officer Allen Weisselberg gave a glimpse of evidence that could tie the ex-president directly to the tax fraud scheme, such as a memo he signed approving chief operating officer Matthew Calamari’s illegal request to reduce his taxed salary to cover the cost of his untaxed corporate apartment, reported The Daily Beast.

“We now move on to the next chapter,” Bragg said last week after the company was ordered to pay $1.6 million in penalties for tax fraud.

Trump already asserted under oath in another case in 2021 that he personally oversaw Calimari’s compensation, and prosecutors have checks he signed to cover tuition at a private school for Weisselberg’s grandchildren, whose mother Jennifer Weisselberg has repeatedly told investigators she personally heard Trump discuss the scheme to artificially lower taxed salaries for his executives.

“This case has tentacles,” said Duncan Levin, a former prosecutor who now represents Jennifer Weisselberg and has been communicating with investigators.

The district attorney’s office declined to comment on what Bragg meant about another chapter, but former prosecutors from that office say their experience leads them to believe prosecutors will go after Trump.

“For people who want a certain outcome — to go after Trump — it gives hope,” said Catherine A. Christian, a former assistant district attorney who investigated financial fraud. “They’re going to be thorough. I’m doubtful he would have said ‘next chapter’ if they weren’t looking.”

RELATED: ‘I’ll grab you’: How Alex Jones and Ali Alexander were tapped to lead a march from the Ellipse to the Capitol

“It happens all the time with large, complex investigations,” she added.

Prosecutors had hoped to flip Weisselberg or company controller Jeffrey McConney, who was nearly labeled a hostile witness during the Trump Organization trial, but ultimately were unable to get their full cooperation.

“They didn’t flip, and they failed,” said former Manhattan prosecutor Jeff Chabrowe. “They tried to do everything they could, and in the end, they got a truncated thing here where they went after the organization and Weisselberg, and there’s this fine that’s pretty weak.”

 

Continue Reading

CRIME

‘Final Nail in His Coffin’: Trump’s Taxes Contain ‘Powerful Evidence of Criminal Tax Evasion’

Published

on

In a column for the Daily Beast, longtime investigative journalist and Donald Trump biographer David Cay Johnston made the case that there is enough evidence of financial fraud in the former president’s tax returns from 2015 to 2020 to indict and prosecute him.

At issue, he noted, are deductions taken for Trump companies — some of which may never have existed.

According to Johnston, the author of “The Big Cheat: How Donald Trump Fleeced America and Enriched Himself and His Family,” he found “powerful evidence of criminal tax evasion,” after reviewing the documents after they were released on Friday morning to the public after years of obstruction from Trump.

“Consider a rich business owner who fabricates deductions but who would still owe zero tax in the audited year even if those deductions were denied. That means an audit that will not generate any tax revenue. That’s also what Trump apparently did in 26 sole proprietor, or Schedule C, filings in the six years of released tax returns,” he wrote before adding, “Trump also turned a profit off a portion of the tax system, making $2.8 million profit off the Alternative Minimum Tax, or AMT.”

As for those 26 Trump businesses that may or may not exist, Johnston suggested that investigators dig deeper into how the former president used them to get out of paying taxes in the years involved.

RELATED: Tax expert highlights a mysterious red flag in Trump tax returns

“Most glaring in the tax returns is that they include 26 Trump businesses—or imaginary businesses—with zero revenue and hundreds of thousands of dollars in tax deductions for expenses,” he pointed out while noting they should be of interest to New York State Attorney General Letitia James, Manhattan District Attorney Alvin Bragg and Attorney General Merrick Garland.

“Unless Trump can produce records showing the expenses are real and meet other standards to be deductible, that’s fraud. That Trump did it 26 times as a candidate and as president is powerful evidence that he qualifies for prosecution by the federal government and New York State for criminal tax fraud,” he wrote before adding the results could lead to a “slam dunk” prosecution.

You can read more here.

Image: Evan El Amin/Shutterstock

Continue Reading

Trending

Copyright © 2020 AlterNet Media.