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this post was submitted on 09 Oct 2024
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I don't think this is right. If they take the debt, they can go after Trump to collect themselves, they can't force him to pay Giuliani.
Yeah I phrased that a little poorly, but yeah it would immediately go to them, but he would still be "paying" Rudy for accounting purposes.
Theyd probably structure it thru a bank so it just passes thru his account for a literal instant
But for tax purposes it's still income for Rudy, he still has to pay taxes on the 2 million lol. So I think it technically it has to touch his pocket, or maybe they can set up a temporary trust, rich people do crazy shit.
Usually they transfer the ownership of the debt, same way your bank might sell your mortgage to another bank. I doubt they'd let it pass through his account, else he or some other unscrupulous actor might mess with the transfer.
I also don't think it counts as income for Giuliani, since he never actually collects on the debt.
Yeah. I'm not sure
I tried to search for the answer, but all the results are about tax implications for receiving a settlement.