There have been persistent rumors around here that at least the Big 15 get a million dollar forgivable loan when they are called, and all their property is put in a trust controlled by LDS Inc. They then sign a non-disclosure agreement from hell, that calls in the loan and takes all their property if they go rogue and spill the beans about LDS Inc.

I strongly suspect something like that is the case, though the actual details may vary. However, it seems to me that carrying out the threatened seizure of all of the former GA's assets is problematic. All the GA has to say is that he won't give the money back.

"But you have to. We have an ironclad NDA"

"So what. I'm not moving, and not giving the money back"

"We'll take you to court."

"Oh, really, now. I'll argue the NDA (non disclosure agreement) is null and void because it required me to cover up illegal acts, that your lying about LDS history constitutes fraud, as does much of your financial shenanigans.

You want to have that fight in open court? Even if I lose, LDS Inc is screwed. Go ahead punk, make my day."


And the loan is forgiven.

BTW, this is a side point, but the IRS has a name for forgiven loans. They are called "income". Forgiven loans are treated as regular income. People who have had debts written off found that to be an unpleasant surprise come April 15.



Edited 1 time(s). Last edit at 05/21/2014 12:25PM by Brother Of Jerry.

One word: Danites...

Seriously.



Edited 1 time(s). Last edit at 05/21/2014 01:27PM by csuprovograd.

Brother Of Jerry Wrote:
-------------------------------------------------------
> "Oh, really, now. I'll argue the NDA (non
> disclosure agreement) is null and void because it
> required me to cover up illegal acts, that your
> lying about LDS history constitutes fraud, as does
> much of your financial shenanigans.
>
> You want to have that fight in open court? Even
> if I lose, LDS Inc is screwed. Go ahead punk,
> make my day."

Just the fact becoming public that the loans exist would be enough to prevent going to court.