moonsister said:

nelcp777 said:

Interesting, Urban Farming is headed by Taja Sevelle. Just read an article on NbcNews:

http://www.nbcnews.com/news/nbcblk/former-prince-prot-g-he-would-have-wanted-us-all-n749061

Interesting too is Smitty Boykin CEO is Eric Benet Jordan. Looks like Smitty Boykin is a NYC restaurant. Not exactly a not for profit, maybe a loan?

On the 2007 Love4oneanother tax return, Smitty Boykin is listed as an exempt with the location in Los Angeles, CA

DD55 said:

moonsister said:

nelcp777 said: Interesting too is Smitty Boykin CEO is Eric Benet Jordan. Looks like Smitty Boykin is a NYC restaurant. Not exactly a not for profit, maybe a loan?

The list is incomplete and incorrect. It's from the 2007 tax retrun and the Peccole Ranch lakes Kingdom hall fund was given 800,000, not 7K.

It is probaly incomplete as he may have may many donations to Kingdom Hall Peccole Ranch lakes for the year which totaled 800, 000.00 by the end of the year.

If it is from 2007 his divorce was done and it would be weird if he was funneling money to some business Eric was involved in. Unless this has someting to do with M2 divorce terms and conditions as financials for that were still sealed. A perfect world is listed on this sheet and that is M2 charity.

1Sasha said:

Was M2 running the foundation then? And $50K happened to go to this place?

If it was 2007 she would have been divorced from Prince and out of the picture.

laurarichardson said:

1Sasha said:

Was M2 running the foundation then? And $50K happened to go to this place?

If it was 2007 she would have been divorced from Prince and out of the picture.

I thought the divorce was final in Ocotober, 2007. Were the taxes file in 2007 for 2006?

I wonder if Mani was using L4OA and funding various things that Prince may not have been aware of. I also wonder if Mani was caught with Eric Benet (maybe not a physical relationship, but emotional). There is little information on why they splitted. We know she was locked out of the house and her credit cards were off. Prince's lawyer said he did not want it, but I am inclined to believe the was PR and Prince was ready to finalize the divorce, my 2 cents and opinion only.

nelcp777 said:

laurarichardson said:

If it was 2007 she would have been divorced from Prince and out of the picture.

I thought the divorce was final in Ocotober, 2007. Were the taxes file in 2007 for 2006?

I wonder if Mani was using L4OA and funding various things that Prince may not have been aware of. I also wonder if Mani was caught with Eric Benet (maybe not a physical relationship, but emotional). There is little information on why they splitted. We know she was locked out of the house and her credit cards were off. Prince's lawyer said he did not want it, but I am inclined to believe the was PR and Prince was ready to finalize the divorce, my 2 cents and opinion only.

The split in 2005 so was he still providing money to her charity for tax year 07? I know Dr. Funkenberry said Prince stopped speaking to her I would find it hard to believe he stopped speaking to her and continued to send money to her charity as well as some business Eric was involved with. This is very strange.

-----

Check this out from earlier.

--

The Judge's Order today approving Bremer's attorney fees

contained some interesting information.

1. Comerica shall continue to search for assets
2. Comerica shall investigate whether any action should be pursued for the return of the commission paid to Londell by Jobu
3. Comerica shall investigate whether any action should be pursued for the Cousins/Church fiasco
4. Prince owned over 40 business entities
5. Prince had a warehouse with over 1,500 boxes contained in it
6. Bremer coordinated with the investigations by the DEA and US Attorneys Office
7. There were audits of P's 2009-2012 income tax returns
8. Bremer investigated P's ownership in a charity entity and loans made to it
9. There is/was some sort of litigation with the Turks and Caicos property
10. The judgment from Italy against P for copyright infringement is still being pursued
11. Brianna made an allegation of breach of contract (huh?)
12. Some heirs objected to the UMG deal
13. The Judge noted that none of the attorneys that started on the case are still around

Could 8 be A Perfect World or the one were M2 was selling those overpriced candles.

[Edited 4/24/17 10:29am]

I know there have been numerous comments here on the org about when M2 and Eric got together. This is just so ... coincidental ...

1Sasha said:

I know there have been numerous comments here on the org about when M2 and Eric got together. This is just so ... coincidental ...

I would hate to think this had something to do with a business deal with Eric and a divorce came out of it. I also wondered if some hanky panky might have been the reason M2 did not get much in the divorce.

I read an article somewhere a while back about P & Mani's divorce and how Mani wanted this and wanted that, and she wanted to have the same lifestyle as she had with Prince, and Prince replied and said something like "She is not entitled to the same lifestyle she had when she was married to me." That is so classic Prince!! LMAO!!

.

And, I agree with Prince.

nelcp777 said:

laurarichardson said:

If it was 2007 she would have been divorced from Prince and out of the picture.

I thought the divorce was final in Ocotober, 2007. Were the taxes file in 2007 for 2006?

I wonder if Mani was using L4OA and funding various things that Prince may not have been aware of. I also wonder if Mani was caught with Eric Benet (maybe not a physical relationship, but emotional). There is little information on why they splitted. We know she was locked out of the house and her credit cards were off. Prince's lawyer said he did not want it, but I am inclined to believe the was PR and Prince was ready to finalize the divorce, my 2 cents and opinion only.

IRS form 990-PF, tax year 2007, tax ID # 41-1859729, address 7801 Audubon Rd, Chanhassen, MN Phone 952-470-2409. Kirk President, Prince Director. Contributions that year: P R Nelson $64,099, Bria Valente $40,000, Paisley Park Enterprises $28,354. In the same filing they file for 8868 for an extension for tax year 2008.

laurarichardson said:

nelcp777 said:

I thought the divorce was final in Ocotober, 2007. Were the taxes file in 2007 for 2006?

I wonder if Mani was using L4OA and funding various things that Prince may not have been aware of. I also wonder if Mani was caught with Eric Benet (maybe not a physical relationship, but emotional). There is little information on why they splitted. We know she was locked out of the house and her credit cards were off. Prince's lawyer said he did not want it, but I am inclined to believe the was PR and Prince was ready to finalize the divorce, my 2 cents and opinion only.

The split in 2005 so was he still providing money to her charity for tax year 07? I know Dr. Funkenberry said Prince stopped speaking to her I would find it hard to believe he stopped speaking to her and continued to send money to her charity as well as some business Eric was involved with. This is very strange.

-----

Check this out from earlier.

--

The Judge's Order today approving Bremer's attorney fees

contained some interesting information.

1. Comerica shall continue to search for assets
2. Comerica shall investigate whether any action should be pursued for the return of the commission paid to Londell by Jobu
3. Comerica shall investigate whether any action should be pursued for the Cousins/Church fiasco
4. Prince owned over 40 business entities
5. Prince had a warehouse with over 1,500 boxes contained in it
6. Bremer coordinated with the investigations by the DEA and US Attorneys Office
7. There were audits of P's 2009-2012 income tax returns
8. Bremer investigated P's ownership in a charity entity and loans made to it
9. There is/was some sort of litigation with the Turks and Caicos property
10. The judgment from Italy against P for copyright infringement is still being pursued
11. Brianna made an allegation of breach of contract (huh?)
12. Some heirs objected to the UMG deal
13. The Judge noted that none of the attorneys that started on the case are still around

Could 8 be A Perfect World or the one were M2 was selling those overpriced candles.

[Edited 4/24/17 10:29am]

#8? or took loans FROM it? in the 2007 tax filing it had $9.2M in savings and investments and $3.7M in land and buildings assets. Who knows what happened from 2007 to 2016? He didn't file for three years and lost 503c(3) status with the IRS. That's all I could find online. Maybe someone can find more.

laurarichardson said:

DD55 said:

laurarichardson said:

The split in 2005 so was he still providing money to her charity for tax year 07? I know Dr. Funkenberry said Prince stopped speaking to her I would find it hard to believe he stopped speaking to her and continued to send money to her charity as well as some business Eric was involved with. This is very strange.

-----

Check this out from earlier.

--

The Judge's Order today approving Bremer's attorney fees

contained some interesting information.

1. Comerica shall continue to search for assets
2. Comerica shall investigate whether any action should be pursued for the return of the commission paid to Londell by Jobu
3. Comerica shall investigate whether any action should be pursued for the Cousins/Church fiasco
4. Prince owned over 40 business entities
5. Prince had a warehouse with over 1,500 boxes contained in it
6. Bremer coordinated with the investigations by the DEA and US Attorneys Office
7. There were audits of P's 2009-2012 income tax returns
8. Bremer investigated P's ownership in a charity entity and loans made to it
9. There is/was some sort of litigation with the Turks and Caicos property
10. The judgment from Italy against P for copyright infringement is still being pursued
11. Brianna made an allegation of breach of contract (huh?)
12. Some heirs objected to the UMG deal
13. The Judge noted that none of the attorneys that started on the case are still around

Could 8 be A Perfect World or the one were M2 was selling those overpriced candles.

[Edited 4/24/17 10:29am]

#8? or took loans FROM it? in the 2007 tax filing it had $9.2M in savings and investments and $3.7M in land and buildings assets. Who knows what happened from 2007 to 2016? He didn't file for three years and lost 503c(3) status with the IRS. That's all I could find online. Maybe someone can find more.

We know he continued to give money to charities and people for years after 2007. I think he just took the money right out of his pocket after he lost the 503c (3) status.

moonsister said:

laurarichardson said:

I would hate to think this had something to do with a business deal with Eric and a divorce came out of it. I also wondered if some hanky panky might have been the reason M2 did not get much in the divorce.

Prince give concerts to raise money for charity then give/loan that money to Eric Benet seems shady tax wise. Very Strange Relationship . [Edited 4/24/17 11:37am]

If he was leanding people money as a loan or an investment and getting a tax write off for it then yes that is shady. Not sure how he got away with it or if in his mind he being charitable. I begin to wonder about his finances when we saw how so much of his money was tied up in real estate. Read the Panama papers if you want to know why high net worth individual own so much real estate. He had about 40 business entities and could have made a nice corporate shell around himself at one time or another.

https://en.wikipedia.org/wiki/Panama_Papers

Customers may open offshore accounts for any number of reasons, some of which are entirely legal[19] but ethically questionable. A Canadian lawyer based in Dubai noted, for example, that businesses might wish to avoid falling under Islamic inheritance jurisprudence if an owner dies.[20] Businesses in some countries may wish to hold some of their funds in dollars also, said a Brazilian lawyer.[21] Estate planning is another example of legal tax avoidance.

-------

The most obvious use of offshore financial centers is to avoid taxes", The Economist added.[28] Oxfam blamed tax havens in its 2016 annual report on income inequality for much of the widening gap between rich and poor. "Tax havens are at the core of a global system that allows large corporations and wealthy individuals to avoid paying their fair share," said Raymond C. Offenheiser, president of Oxfam America, "depriving governments, rich and poor, of the resources they need to provide vital public services and tackle rising inequality."[30]

------------

International Monetary Fund (IMF) researchers estimated in July 2015 that profit shifting by multinational companies costs developing countries around US$213 billion a year, almost two percent of their national income.[31] Igor Angelini, head of Europol's Financial Intelligence Group, said that shell companies "play an important role in large-scale money laundering activities" and that they are often a means to "transfer bribe money".[32] Tax Justice Network concluded in a 2012 report that "designing commercial tax abuse schemes and turning a blind eye upon suspicious transactions have become an inherent part of the work of bankers and accountants."[33]

Money-laundering affects the first world as well, since a favored shell company investment is real estate in Europe and North America. London, Miami, New York, Paris and Vancouver have all been affected. The practice of parking assets in luxury real estate has been frequently cited as fueling skyrocketing housing prices in Miami.[34][35][36] "There is a huge amount of dirty money flowing into Miami that's disguised as investment," according to former congressional investigator Jack Blum.[37] In Miami, 76% of condo owners pay cash, considered a red flag for money-laundering.[37]

[Edited 4/24/17 12:25pm]

laurarichardson said:

DD55 said:

#8? or took loans FROM it? in the 2007 tax filing it had $9.2M in savings and investments and $3.7M in land and buildings assets. Who knows what happened from 2007 to 2016? He didn't file for three years and lost 503c(3) status with the IRS. That's all I could find online. Maybe someone can find more.

We know he continued to give money to charities and people for years after 2007. I think he just took the money right out of his pocket after he lost the 503c (3) status.

I agree, I'm just cruious as to where the $9.2 M went, or for all we know it could still be in the Grand Bank & Trust of Florida or Kleinbank (from where he reports $285K in interest earnings for that tax year).

"Land rich, cash poor." Been there with a relative. I know how it goes. In Prince's case, he would go out and tour to bring cash in. A number of people - anonymously, of course - have said this practice went on for years after the Musicology tour.

laurarichardson said:

moonsister said:

laurarichardson said: Prince give concerts to raise money for charity then give/loan that money to Eric Benet seems shady tax wise. Very Strange Relationship . [Edited 4/24/17 11:37am]

If he was leanding people money as a loan or an investment and getting a tax write off for it then yes that is shady. Not sure how he got away with it or if in his mind he being charitable. I begin to wonder about his finances when we saw how so much of his money was tied up in real estate. Read the Panama papers if you want to know why high net worth individual own so much real estate. He had about 40 business entities and could have made a nice corporate shell around himself at one time or another.

Unrelated to charities. How could he not have a nice healthy stock portfolio? The stock market has grown at a crazy rate, even with the lows of the recession. Heck even really average working class ppl like me have stock investments.

DD55 said:

laurarichardson said:

We know he continued to give money to charities and people for years after 2007. I think he just took the money right out of his pocket after he lost the 503c (3) status.

I agree, I'm just cruious as to where the $9.2 M went, or for all we know it could still be in the Grand Bank & Trust of Florida or Kleinbank (from where he reports $285K in interest earnings for that tax year).

I believe there is money all over the place. Comerica has stated they are still looking for assets and I believe money as well. I know they said the Pat Cousins had boxes of legal documents that he was ordered to turn over.

DD55 said:

laurarichardson said:

If he was leanding people money as a loan or an investment and getting a tax write off for it then yes that is shady. Not sure how he got away with it or if in his mind he being charitable. I begin to wonder about his finances when we saw how so much of his money was tied up in real estate. Read the Panama papers if you want to know why high net worth individual own so much real estate. He had about 40 business entities and could have made a nice corporate shell around himself at one time or another.

Unrelated to charities. How could he not have a nice healthy stock portfolio? The stock market has grown at a crazy rate, even with the lows of the recession. Heck even really average working class ppl like me have stock investments.

He was old school gold and real estate. It also looks like he invested directly in businesses like Kim Berry's beauty shops. Remember small investments in little turn key business are great ways to squirel money away from the tax man.

1Sasha said:

"Land rich, cash poor." Been there with a relative. I know how it goes. In Prince's case, he would go out and tour to bring cash in. A number of people - anonymously, of course - have said this practice went on for years after the Musicology tour.

Cash could be in Swiss or Cayman island accounts. Someone who worked for him in the 90s said he had gold buried on the property at one point.

laurarichardson said:

DD55 said:

Unrelated to charities. How could he not have a nice healthy stock portfolio? The stock market has grown at a crazy rate, even with the lows of the recession. Heck even really average working class ppl like me have stock investments.

He was old school gold and real estate. It also looks like he invested directly in businesses like Kim Berry's beauty shops. Remember small investments in little turn key business are great ways to squirel money away from the tax man.

That makes no sense. The reason you invest in any business or stock is ROI. If you don't get sufficient return on investment, why bother. As for avoiding the tax man. Think again, everything is electronic, maybe 20 years ago you could engage in creative accounting but no more.

Was it you, LR, who brought up the Tidal money could be in one of those off-shore accounts, since no one can seem to find it?

1Sasha said:

Was it you, LR, who brought up the Tidal money could be in one of those off-shore accounts, since no one can seem to find it?

Tidal wants to move forward with a trial. No way in this world they do not have proof they sent that 3 million and I know they know where they sent it to.

I believe it was sent to an off-shore account and I think that is the reason they mentioned being concerned about financial info being made available to the IRS in one of the docs to the court.

I bet they will try to do everything they can to have finances redacted if this goes to trial. The best thing that could happen if if this does not go to trial at all.

DD55 said:

laurarichardson said:

He was old school gold and real estate. It also looks like he invested directly in businesses like Kim Berry's beauty shops. Remember small investments in little turn key business are great ways to squirel money away from the tax man.

That makes no sense. The reason you invest in any business or stock is ROI. If you don't get sufficient return on investment, why bother. As for avoiding the tax man. Think again, everything is electronic, maybe 20 years ago you could engage in creative accounting but no more.

You do not know how small beauty and baber shops works do you? It is also conveince stores, nightclubs,laundry mats and cabbies.

Many places in urban areas still take cash and many people do not have an issue paying in cash.

Do you know how many times in the Washington Metro areas restuarants and clubs have had the IRS come in and find money in the ceiling?

laurarichardson said:

1Sasha said:

Was it you, LR, who brought up the Tidal money could be in one of those off-shore accounts, since no one can seem to find it?

Tidal has to have some proof of payment and where the payment went. Comerica could trace the bank transactions to locate the money, if said money was paid. I would imagine with a lawsuit going on, Tidal would be more than happy to provide the payment details to support their case/claims.

In regards to the L4OA taxes, I am sure Prince himself did not complete the actual tax forms. More than likely, his accountant did. Seems shady in the taxes though. I also thought, and I could be completely wrong, Cousins had some access to the charity, perhaps that is where the money went. Again, speculation on my end.

As for Eric Benet. Perhaps he and Mani pulled a fast one on Prince (though I doubt it) or he just did it minimize the divorce liabilities. I am still interested in Mani/Eric's timeline. I get the vibe Prince was hot with Mani. She played him. Used religon to get to him and aside from his music, that was something that meant a lot to Prince I am sure.

Hell, where is Lary G in all this? He was front and center to convert/recruit Prince. Is he helping the family with the loss? A lot of stuff that went on behind closed doors that we will probably never know.

laurarichardson said:

DD55 said:

That makes no sense. The reason you invest in any business or stock is ROI. If you don't get sufficient return on investment, why bother. As for avoiding the tax man. Think again, everything is electronic, maybe 20 years ago you could engage in creative accounting but no more.

You do not know how small beauty and baber shops works do you? It is also conveince stores, nightclubs,laundry mats and cabbies.

Many places in urban areas still take cash and many people do not have an issue paying in cash.

Do you know how many times in the Washington Metro areas restuarants and clubs have had the IRS come in and find money in the ceiling?

DD55 said:

laurarichardson said:

You do not know how small beauty and baber shops works do you? It is also conveince stores, nightclubs,laundry mats and cabbies.

Many places in urban areas still take cash and many people do not have an issue paying in cash.

Do you know how many times in the Washington Metro areas restuarants and clubs have had the IRS come in and find money in the ceiling?

So you’re implying that Prince would invest in someone else’s business, where business is done in cash, and he would meet to take a ‘cash handoff’ with no accounting paper trail to prove he is getting what he agreed to get. He even criticized the record companies of not giving him a full accounting. You think he would give CASH to a small business so he could get cash payoffs later down the line? Who is going to pick up these money drops? Makes no sense.

From speaking to people who own these business they usually have two separate sets of books. One showing a loss and one that shows what is really going on. They skim money off the top so they do not have to pay taxes on the income.

I also believe people invest in these business to hide money from illegal activities ( I am not saying Prince was doing this) I have seen these small shops they never seem to have customers but never go out of business.

We have had restuarants and bars raided in the Washington Metro Area that were fronts for drugs and we have had business that just never reported all of their income.

Remember Studio 54 when the IRS raided the club they found money in the ceiling.

I do not think Prince would be picking up any cash himself. Remember Gwen Leeds saying she got all the best material for wardrobe from the garmet district because she had a briefcase full of cash.

Remember when Prince paid his property taxes late and some women showed up with a briefcase full of cash?

Remember the Mill City Festival where the promoters could not pay anyone else but Prince got paid because he had them put the money in a briefcase up f ront before the show started.

[Edited 4/24/17 12:36pm]

nelcp777 said:

1Sasha said:

Was it you, LR, who brought up the Tidal money could be in one of those off-shore accounts, since no one can seem to find it?

Tidal has to have some proof of payment and where the payment went. Comerica could trace the bank transactions to locate the money, if said money was paid. I would imagine with a lawsuit going on, Tidal would be more than happy to provide the payment details to support their case/claims.

In regards to the L4OA taxes, I am sure Prince himself did not complete the actual tax forms. More than likely, his accountant did. Seems shady in the taxes though. I also thought, and I could be completely wrong, Cousins had some access to the charity, perhaps that is where the money went. Again, speculation on my end.

As for Eric Benet. Perhaps he and Mani pulled a fast one on Prince (though I doubt it) or he just did it minimize the divorce liabilities. I am still interested in Mani/Eric's timeline. I get the vibe Prince was hot with Mani. She played him. Used religon to get to him and aside from his music, that was something that meant a lot to Prince I am sure.

Hell, where is Lary G in all this? He was front and center to convert/recruit Prince. Is he helping the family with the loss? A lot of stuff that went on behind closed doors that we will probably never know.

DD55 said:

nelcp777 said:

Tidal has to have some proof of payment and where the payment went. Comerica could trace the bank transactions to locate the money, if said money was paid. I would imagine with a lawsuit going on, Tidal would be more than happy to provide the payment details to support their case/claims.

In regards to the L4OA taxes, I am sure Prince himself did not complete the actual tax forms. More than likely, his accountant did. Seems shady in the taxes though. I also thought, and I could be completely wrong, Cousins had some access to the charity, perhaps that is where the money went. Again, speculation on my end.

As for Eric Benet. Perhaps he and Mani pulled a fast one on Prince (though I doubt it) or he just did it minimize the divorce liabilities. I am still interested in Mani/Eric's timeline. I get the vibe Prince was hot with Mani. She played him. Used religon to get to him and aside from his music, that was something that meant a lot to Prince I am sure.

Hell, where is Lary G in all this? He was front and center to convert/recruit Prince. Is he helping the family with the loss? A lot of stuff that went on behind closed doors that we will probably never know.

The 2007 returns were done by the firm of RSM, 801 Nicollet Mall, Minneapolis, MN 55402 (CPA Andy ..someone I can’t read the signature).

.

Yeah, where is good ole L? P spent 15 years trying to resurrect his sorry a$$ long dead career and where was he when he was needed? Funny how L was a JW when he joined P and P’s lyrics didn’t bother him for 2 years…. then he converts P and all of a sudden… I’d better stop… I’ll get snipped, banned… I better shut up.

I am not sure what LG has to do with M2 and Eric. M2 was working for Prince not LG. M2 apparently willingly went to those JW classes. The last time I looked LG had concert dates lined up.

laurarichardson said: