Judge orders Trump to pay nearly $355 million in civil fraud trial

[Flopper]

And all of his assets mortgaged to the eyeballs already, with no banks wanting to lend to him..So he sells his licenses. "Pay me to use my name", fleecing the sheep.Everyone grab a pair of shears, there's enough for everyone! It's not even a secret.

Trump's 2021 statement of financial condition shows that about half of his real estate assets are in New York. With the upcoming legal penalties of about 450 million. He is going to have to raise some cash. His legal fees are coming do within a month although the court will probable delay payment till the higher court rules on his appeals. However, with the court order requiring him and his family to give up managing his New York businesses for several years, selling those that require significant management might be a good idea.

Trump's knowledge of New York city real estate has been vital to the Trump Organization. I think selling all of his holdings in the city would be difficult for him.

 

[Flopper]

All of this to say that Trump may have exaggerated the value of his real estate holdings. As usual, Democrat are missing the larger point here, which is that this is nothing but a political stunt as this law is not typically applied in such a way.

"These cases typically involve many victims who lost large sums of money to businesses that exploited their poor financial savvy, according to legal experts.

Defendants in those cases have run the gamut, from chicken suppliers to crypto exchanges and loan sharks. A common thread is often a large group of victims who were exploited because the did not know any better, according to legal experts."

"The attorney general's job is to protect people who can't protect themselves," Syracuse University law professor Gregory Germain said. "Here, we're dealing with very sophisticated lenders who are fully capable of protecting themselves and haven't asked the attorney general for help."

Banks have very sophisticated financial experts, particularly when it comes to very large business loans. They do their own due diligence, as they should. I guess we are supposed to believe that banks give large loans based on whatever arbitrary value a potential client puts on their assets. These bank determined that Trump was good for the loans and they were proven to be correct. The bank could have called the Trump Organization out on his property evaluations but chose not to for risk of losing the loan. They also could have proposed higher interest rates which they didn't do for the same reason. The bank knew the organization may have gone elsewhere to secure these loans, which were VERY lucrative for the bank. They were proven to be absolutely correct in their assessment in that they secured the deal and made a lot of money.

This entire thing is nothing more than an attempt at election interference under the guise of enforcing the law. It is absurd that you can't see that.

Now, answer my questions. Why wasn't this brought up prior to Trump becoming President and why did James specifically target Trump and his family when running for the Attorney General position in 2018?

https://www.reuters.com/legal/trump...peal-may-hinge-no-victims-defense-2024-02-16/

Why wasn't this brought up prior to Trump becoming President

Some of the events did not even occur till 2021. In 2015. there was insufficient evidence to accuse Trump.

Donald Trump falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things. From 2011-2021, Mr. Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions.

Exaggerating the value of your assets in applying for bank loans is not a triviality. This is why the State of New York has serious penalties for doing so.

If you are buying a home, it is relatively easy for the bank to determine the value of your home without leaving the office. However, if a developer is offering commercial property as colleterial that is in and out of the state of New York as Trump has done, it can be very difficult for property appraisers to come up with fair market value. Since time is critical in considering applications and since there is stiff penalties for misstatements on the loan application banks reply heavily on the applications.

Attorney General James Sues Donald Trump for Years of Financial Fraud

Trump, Donald Trump Jr., Ivanka Trump, and Eric Trump Used Fraudulent Statements of Financial Condition to Obtain Millions in Economic Benefits Lawsuit Seeks to

ag.ny.gov

 

[Fort Fun Indiana]

You voted for Joe Biden. You have absolutely no reason to be calling anyone a sheep.

What low IQ trolling. You are a grown man. And you are embarrassing yourself.

 

[Fort Fun Indiana]

Trump's 2021 statement of financial condition shows that about half of his real estate assets are in New York. With the upcoming legal penalties of about 450 million. He is going to have to raise some cash. His legal fees are coming do within a month although the court will probable delay payment till the higher court rules on his appeals. However, with the court order requiring him and his family to give up managing his New York businesses for several years, selling those that require significant management might be a good idea.

Trump's knowledge of New York city real estate has been vital to the Trump Organization. I think selling all of his holdings in the city would be difficult for him.

He can acquire a bond.

 

[Flopper]

Sure, I will address them and will have many responses which you will need to address as well. Are you willing to address the non-legal, but very much relevant, point as to why they didn’t choose to take up this case until Trump became president? They had at least 5 years to do so but showed absolutely no interest. Maybe we should take what the NY attorney general said in 2018 when running for office regarding how she was going to “use every area of the law to investigate President Trump and his business dealings and that of his family as well.” It’s politics stupid. EVERYBODY with a shred of common sense knows this. If you don’t, then maybe you don’t have any.

As I pointed out in a later post, many violations occurred after the 2016 election, the violations occurred between 2011 and 2021. It does not appear that the extent of Trump's illegal acts were know before he became president.

 

[ThisIsMe]

Once he pays the judgement there will be no problem with him setting up a new business and shifting any remaining assets.

Moving states as a way to try to get out of the judgement won’t work though.

WW

I’m not suggesting that, the appeals process will decide that.

 

[candycorn]

JUST IN: A judge has ordered former President Donald Trump and his companies to pay nearly $355 million in a ruling in the New York civil fraud case. The former president is also barred from serving as an officer or director of any New York corporation or other legal entity in the state for three years. Trump is expected to appeal the decision. Read the full ruling.

The lawsuit: The judge had already found Trump is liable for fraud in the civil case, but New York Attorney General Letitia James was seeking $370 million in damages. James was also looking to bar Trump from doing business in the state, alleging that the former president, his adult sons and his company defrauded banks and insurance companies by inflating the value of Trump’s assets.

Why it matters: The case is civil, not criminal, but threatens Trump's business in New York. The trial in this case has served as a precursor to the four criminal trials Trump faces this year as he campaigns to regain the presidency.

Judge orders Trump to pay nearly $355 million in civil fraud trial

Wow, that's a pleasant surprise! What do you think"?

Another win for the good guys.

 

[DBA]

If I write a check that I know is no good, I'm not exaggerating my net worth I'm committing fraud.

Sure, that is fraud and the person who was supposed to be getting the money got shorted. The punishment for such actions is a returned check fee. At my bank It doesn’t matter if I wrote a check for $10,000, the return check fee is $10. In Trump’s case, NOBODY was harmed and no the bank would not have raised his interest rate had he lowered the evaluation for his properties. No evidence in this case suggests that and the bank in question didn’t suggest that. That was pure speculation by the prosecutor which was accepted by a very biased judge.

Company after company testified that they needed to rely on Trump's FCC's

Why did they give him the loans? Every bank in the nation knows that people tend to inflate their net worth when applying for loans. Do you think a bank would give you $100k loan based solely on your claimed net worth? The answer is that they wouldn’t unless, as is the case with Trump, they were aware through other means that you owned property that far exceeds $100k. What if the bank knew for a fact that you owned a home worth at least $2mm, that you evaluated at $4mm. Would they care or would they give you your $100k loan? These are small numbers in comparison to Trump, but you get the idea. Banks would have even more reason to loan to Trump O. because they would stand to make a lot of money on the transaction and also potentially be the bank of choice for future large transactions. The bottom line is that virtually any bank that had the funds would have given him this loan because it was a huge win/win. Property evaluations are guesses and are all over the map. I sold a piece of property 5 years ago for 5 times the appraisal value that was done a few months before. No bank would rely solely on a loanees personal opinions of their property values. That is pure bunk. The judge knows it, the prosecutor knows it, everybody with a shred of common sense knows it.

It's absurd that you say you're going to respond to something. When considerable effort is being exerted into compiling it, only to, when it comes down to it, minimizing VERY specific charges as "exaggerations" and pretend that's an answer.

The bank in question didn’t claim fraud. They didn’t feel like they were victims. They were not harmed, in fact, they had huge gains. It is as simple as that. I don’t think you want to go down the path of punishing everyone who has knowingly misrepresented facts to achieve a gain. This case and the judgement is selective justice based purely on politics.

Because the investigation started when they got Cohen in 2018 WHILE HE WAS PRESIDENT. Causing an examination into Trump's financial dealings. Here are the key events in the investigation into the Trump family business.

I can’t and don’t read the NYT. This is behind a paywall. It is a ridiculously biased source as well.

Regardless, I was not aware that Cohen led to this. Thank you for that. Why do you think they started investigating Cohen in the first place? Mueller ring any bells? Hillary ring a bells? Fake dossier ring any bells? Yes, Democrats suddenly became very interested in all things Trump in 2016. I can’t imagine why. They spent 10s of millions of our dollars investigating him and virtually everyone around him. Bringing up that this lawsuit was ultimately born from the investigation that started in 2016 doesn’t help your case with regards to this being politically motivated.

 

[DBA]

What low IQ trolling. You are a grown man. And you are embarrassing yourself.

Horrible policies aside, Joe Biden is a clearly a senile old man. What else am I to assume about people who vote for such a man to be President of the US?

 

[DBA]

It does not appear that the extent of Trump's illegal acts were know before he became president.

Nobody cared because these “illegal” acts were no different than what virtually every large company operating in NY was/is doing. They only started caring when Trump became President. Had Trump not run for President in 2016, absolutely none of this would be on the table.

 

[Independent thinker]

JUST IN: A judge has ordered former President Donald Trump and his companies to pay nearly $355 million in a ruling in the New York civil fraud case. The former president is also barred from serving as an officer or director of any New York corporation or other legal entity in the state for three years. Trump is expected to appeal the decision. Read the full ruling.

The lawsuit: The judge had already found Trump is liable for fraud in the civil case, but New York Attorney General Letitia James was seeking $370 million in damages. James was also looking to bar Trump from doing business in the state, alleging that the former president, his adult sons and his company defrauded banks and insurance companies by inflating the value of Trump’s assets.

Why it matters: The case is civil, not criminal, but threatens Trump's business in New York. The trial in this case has served as a precursor to the four criminal trials Trump faces this year as he campaigns to regain the presidency.

Judge orders Trump to pay nearly $355 million in civil fraud trial

Wow, that's a pleasant surprise! What do you think"?

Don't worry. It's bound to be reversed on appeal.

 

[Fort Fun Indiana]

Nobody cared because these “illegal” acts were no different than what virtually every large company operating in NY was/is doing.

As if you know.

And this Santa wish list does not fly. Come with evidence.

 

[Fort Fun Indiana]

Don't worry. It's bound to be reversed on appeal.

Yet you couldn't argue why if your life depended on it. Appeals are not "do-overs".

 

[noonereal]

Don't worry. It's bound to be reversed on appeal.

Lol

Not how it works, idiot.

 

[Independent thinker]

Yet you couldn't argue why if your life depended on it. Appeals are not "do-overs".

This one sure will be.

But, you might be interested in this:

Why Trump may soon rake in a $4 billion payday despite his legal problems

Donald Trump has been masterful in converting his numerous legal problems into opportunities for campaigning and fundraising.

news.yahoo.com

 

[Independent thinker]

Lol

Not how it works, idiot.

We shall see who the idiot is. But, in the meantime, try to digest this:

Why Trump may soon rake in a $4 billion payday despite his legal problems

Donald Trump has been masterful in converting his numerous legal problems into opportunities for campaigning and fundraising.

news.yahoo.com

 

[scruffy]

Home

Home

thebeltwayreport.com

Every single Soros traitor is the same.

 

[Fort Fun Indiana]

This one sure will be.

But, you might be interested in this:

Why Trump may soon rake in a $4 billion payday despite his legal problems

Donald Trump has been masterful in converting his numerous legal problems into opportunities for campaigning and fundraising.

news.yahoo.com

No appeals are do overs. Someone on AM radio is being paid to fill your head with bizarre delusions.

 

[Independent thinker]

No appeals are do overs. Someone on AM radio is being paid to fill your head with bizarre delusions.

I don't listen to AM Radio or conservative media.

 

[scruffy]

Mac1958 Another thing I have noticed...

A lot of posters who swore up-and-down for 3 years that they don't support Trump have now decided to become human shields for him at every opportunity and in every thread.

It's almost as if they weren't being completely honest with us.

Leftards demanding honesty ^^^

lmao