Tag

Self Dealing

All articles tagged with #self dealing

business1 month ago•5 min saved

TWG Global Defends Dodgers Financing as Probe Finds No Fraud and Lakers Sale Sparks Speculation

TWG Global, Mark Walter’s holding company, pushed back on federal scrutiny of its Dodgers financing, asserting there has been no fraud and defending the deal’s integrity; the probe centers on investments through Walter’s life-insurance affiliates and potential self-dealing, while outside investigators found no irregularities in the Dodgers purchase. Amid the scrutiny, Walter sold the Lakers for $12.5 billion and is weighing other sports-property moves, with Dodgers not for sale and TWG exploring orderly steps to reduce affiliate exposure by buying loans.

via The New York Times|

#business #dodgers #federal-probe

business1 month ago•2 min saved

Levon Helm Studios Sues Amy Helm Over Self-Dealing and Midnight Ramble Trademark

Levon Helm Studios filed a federal lawsuit accusing Amy Helm of self-dealing and trademark infringement, claiming she charged the studio $400,000 for personal expenses and diverted about $200,000 from the Levon Helm Estate, including royalties from final albums, thereby causing at least $2 million in damages. The suit also alleges she created a competing Helm Family Midnight Ramble trademark to siphon revenue, following a broader family dispute that led to her removal as LHS president earlier in the year.

via Pitchfork|

#amy-helm #business #legal

us-politics2 months ago•16 min saved

Miami Judge Calls Trump IRS Lawsuit an Improper Self-Dealing Move

A federal judge in Miami ruled that President Trump’s suit against the Internal Revenue Service was an improper exercise in self-dealing, barring him from claiming the tax protections obtained were part of a legitimate settlement, and recommended disciplinary action against the lawyers involved. The judge also forwarded the decision to the Florida bar and to the New York bar for ongoing scrutiny of acting attorney general Todd Blanche, highlighting backroom negotiations rather than a proper legal process while not explicitly nullifying the underlying agreement.

via The New York Times|

#disciplinary-actions #irs #lawsuit

politics2 months ago•2 min saved

Judge voids Trump-DOJ settlement amid self-dealing concerns

A U.S. District Judge voided the civil settlement between Donald Trump and the DOJ over a $1.8 billion 'anti-weaponization' fund, ruling the parties were not truly adverse and that the agreement used the court to confer immunity and earmark taxpayer money. The decision also referred Trump’s lawyer and senior DOJ officials to ethics authorities, delivering a rebuke to the administration and highlighting potential political fallout.

via Al Jazeera|

#anti-weaponization-fund #doj #irs

business4 months ago•8 min saved

Musk Eyes Tesla–SpaceX Merger Amid Self-Dealing Concerns as SpaceX IPO Looms

Elon Musk is reportedly floating a Tesla–SpaceX merger ahead of SpaceX’s Nasdaq IPO, which would mark a fourth billion-dollar self-deal involving companies he controls. SpaceX aims for a valuation up to $1.75 trillion with a large raise, potentially pushing a combined Tesla–SpaceX past $3 trillion, while Musk rations voting power heavily in SpaceX. Critics say this pattern—SolarCity, Twitter/X, xAI, and now a Tesla–SpaceX tie—acts to benefit Musk personally at independent shareholders’ expense, though some see strategic upside. Regulators and shareholders are likely to scrutinize the move, underscoring the need for stronger oversight.

via Electrek|

#business #elon-musk #merger

business2 years ago•2 min saved

DeSantis-Appointed Board Accuses Disney of Self-Dealing and Tax Evasion

The Central Florida Tourism Oversight District Board, appointed by Governor Ron DeSantis, has approved an audit accusing Disney of self-dealing in the region. The audit alleges decades of misdeeds, including lack of housing and transportation, awarding work to a closed loop of vendors, and offering free passes and discounts to officials. Disney, the biggest taxpayer in the district, has called the report "revisionist history" and claims it is retaliation for exercising its right to free speech. The board also attempted to conflate the audit with a looming proxy fight with activist investor Nelson Peltz, citing poor governance in Disney's boardroom.

via Deadline|

#audit #business #central-florida

business3 years ago•1 min saved

Disney Faces Lawsuit Alleging Financial Manipulation and Withholding of Funds from Film Financier

TSG Entertainment, a major financier of Fox films, has filed a lawsuit against Disney, accusing the company of using Hollywood accounting tactics to cheat it out of hundreds of millions of dollars. TSG alleges that Disney engaged in "self-dealing" by diverting Fox films from a lucrative HBO license to its own streaming platforms, Disney+ and Hulu. The lawsuit also claims that Fox entered into "sweetheart" deals when licensing films to the FX cable channel. TSG further alleges that Disney sought to boost its stock price and executive pay packages at TSG's expense. This lawsuit echoes similar claims made by Scarlett Johansson against Disney over the release of "Black Widow."

via Variety|

#business #disney #hollywood-accounting