Judge agrees with NY AG Letitia James that Trump and family inflated value of assets to defraud banks and insurance companies
From here:
Judge rules Trump committed fraud when building real estate firm | Just The News
“A New York Judge on Tuesday sided with New York Democratic Attorney General Letitia James in a civil fraud suit, determining that former President Donald Trump defrauded banks and insurers for years.”
Well what do you know. On the one hand the smartest minds and procedures employed at the most sophisticated banks and insurance companies in the world were dumber than a judge and an attorney – whilst simultaneously – Trump and family avoided paying taxes on those inflated assets.
Interesting dichotomy – Trump and family foxing both sides of the coin simultaneously and all discovered by a judge and an attorney who could not make money without feeding at the taxpayers trough.
“James had brought the suit, alleging that Trump had inflated the value of his assets by substantive margins on financial statements, the Associated Press reported. Judge Arthur Engoron issued the Tuesday ruling, which precedes an Oct. 2 trial on James's remaining claims.
Engoron determined that, in overstating the value of his asset and overall wealth, Trump was able to secure benefits from financial institutions such as low insurance premiums and advantageous loan terms.”
Something about the NY legal system, root and branch – especially the Southern District – reeks to high heaven.
“James seeks $250 million in damages and an order barring Trump and his sons from holding leadership roles in New York-based firms. Engoron will not impose any penalties on Trump until the conclusion of the non-jury trial, which he expects could stretch into December of this year.”
Non-jury trial – probably normal in NY, right? Mob justice is not indicated here.
I wonder why a penalty of 250 million bucks is being sought? Why not 50 million or 500 million. Seems pretty specific. Is it ten times the value of the overstatement of valuations that all those banks and insurance companies were fooled by?
Is it a victimless crime? Maybe the victim is the extra City taxes that Trump had to pay on the inflated asset values? No that can’t be it.
Onwards!
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Defraud banks? well I am no expert in banking or real-estate but if I were giving out loans on property I would have my appraiser involved giving me its actual worth. if loans were given and not repaid then fraud would be involved. so were loans repaid? or did they go into receivership and forced to be sold at less than market value? why do we not hear about the mechanics and the compliance of the loan?
The fraud wouldn't come from inflating the value it would come from not repaying or refusing to pay the loan. has that happened? and shame on any bank that doesn't do diligent on its business.-------------------I, Grampa
At some point Trump just has to look at these corrupt judges and prosecutors and tell them to kiss his ass, they ain't getting nothing and to go f their corrupt selves. Playtime is over. They are criminals. Using the color of law to victimize Trump.