Judge rules trump spent decades defeauding insurers and bankers

[progressive hunter]

No, actually. I haven't.

but then again you do lie a lot,,

 

[Lakhota]

 

[EvilCat Breath]

funny that the bank he borrowed the money from didnt complain about it,,

No one complained, ever. Political persecution in big block letters.

 

[Crepitus]

but then again you do lie a lot,,

No, sorry. That's a republican thing.

 

[Leo123]

When have you ever submitted an appraised value for your own property? Ans. NEVER
Trump used valuations provided by professionals.

Yes. As a licensed appraiser myself I can tell you that no lending institution would accept a valuation from the property owner. Not even if they themselves were a licensed appraiser. It is always the lender that hires the appraiser and the appraiser cannot inflate or deflate his/her valuation at the risk of losing their business and license. An appraisal has to be supported by comparable sales and listings. An 'income approach' is also part of an appraisal as well as a cost approach. The 'Sales Comparison Approach' is also part of an appraisal. All three approaches are considered and each approach is weighted as to it's relevancy to the final opinion of value.

Once the appraisal is submitted it will be subject to a forensic audit to double check all the information given (especially in an appraisal with millions at stake) and, it is also typical for the lender to require more than one valuation. In addition to all that, lenders will hire other appraisers to review the appraisal report or reports submitted.

 

[EvilEyeFleegle]

The loans were all repaid. No one complained. Perhaps an appeal will fix this miscarriage of justice.

Fruits of the poisoned tree. Although the loans may have been paid off..I'll take your word for that---all the profit that was realized, all the businesses started---began with a massive fraud.
That's why the judge ordered all of Trump's businesses in New York into immediate receivership....and basically cancelled his right to do business there.
From the link:

The judge immediately canceled all of the defendants' business certificates in New York, and ordered that they must recommend no more than three potential independent receivers to manage the dissolution of the canceled LLCs within 10 days.
This severely restricts Trump's ability to conduct business in New York going forward.

 

[BackAgain]

Bluto? You're a self-professed Bluto?

It’s always been Bluto. And it’s still just an avatar, you imbecile.

 

[EvilCat Breath]

Fruits of the poisoned tree. Although the loans may have been paid off..I'll take your word for that---all the profit that was realized, all the businesses started---began with a massive fraud.
That's why the judge ordered all of Trump's businesses in New York into immediate receivership....and basically cancelled his right to do business there.

All in accordance with political persecutions.

 

[progressive hunter]

No, sorry. That's a republican thing.

yeah and every used car and house sold never was over valued,,,

why do you think the bank that was supposedly defrauded never complained??

 

[EvilEyeFleegle]

yeah and every used car and house sold never was over valued,,,

why do you think the bank that was supposedly defrauded never complained??

Easy answer...they made money....so it was cool with them. But the Judge is taking the position that Trump derived unfair market advantage..and substantially reduced his tax burden, by lying about the value of his properties.

To wit, the State is the victim....and any of Trump's potential competitors--who suffered as a result of his unfairly derived market advantage.

 

[Tommy Tainant]

Judge rules Donald Trump defrauded banks and insurers while building real estate empire

A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

apnews.com

Will this hurt his chances of gaining the repub nomination? Or will it bolster his standing with MAGA?

Its a relief that fellow posters have been able to explain that this is no big deal. I suppose he lied because it helped him get better terms from banks.

Name a president who hasnt been convicted of that offence. Or stealing from a kids cancer charity. We have all done that.

 

[otto105]

Judge rules Donald Trump defrauded banks and insurers while building real estate empire

A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

apnews.com

Will this hurt his chances of gaining the repub nomination? Or will it bolster his standing with MAGA?

Sycophants will sycophant.

 

[otto105]

The perversion of our legal system as a result of liberal Democrap manipulation.

Hilarious bluto


Does that mean the fuckup can’t do the time.

 

[progressive hunter]

Easy answer...they made money....so it was cool with them. But the Judge is taking the position that Trump derived unfair market advantage..and substantially reduced his tax burden, by lying about the value of his properties.

To wit, the State is the victim....and any of Trump's potential competitors--who suffered as a result of his unfairly derived market advantage.

thats not the judges or prosecutors job,,,

we all know this is all politically motivated,,

 

[Crepitus]

yeah and every used car and house sold never was over valued,,,

why do you think the bank that was supposedly defrauded never complained??

You can't negotiate the square footage.

 

[JimH52]

trump has taken Lying to a new level.

 

[Leo123]

From the link:

Trump inflated the value of his own Trump Tower residence between $114 million and $207 million, including claiming the property was triple its actual size in square feet, Engoron ruled.
"A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud," Engoron said in his order.

That's false. Trump would not submit the sq. ft. (Gross Living Area) or (Gross Building Area) the appraiser would measure the structure and submit a drawing in the report. If the appraiser did not personally measure the property it would be required that the source be stated and that USPAP rules were not complied with.

 

[Leo123]

Fruits of the poisoned tree. Although the loans may have been paid off..I'll take your word for that---all the profit that was realized, all the businesses started---began with a massive fraud.
That's why the judge ordered all of Trump's businesses in New York into immediate receivership....and basically cancelled his right to do business there.
From the link:

The judge immediately canceled all of the defendants' business certificates in New York, and ordered that they must recommend no more than three potential independent receivers to manage the dissolution of the canceled LLCs within 10 days.
This severely restricts Trump's ability to conduct business in New York going forward.

Bullshit, complete bullshit.

 

[Mac1958]

Obviously. What he did was clear.

He is a con man. A liar.

And there are people who think he’s honest.

Inexplicable.

 

[Robert W]

Yes. As a licensed appraiser myself I can tell you that no lending institution would accept a valuation from the property owner. Not even if they themselves were a licensed appraiser. It is always the lender that hires the appraiser and the appraiser cannot inflate or deflate his/her valuation at the risk of losing their business and license. An appraisal has to be supported by comparable sales and listings. An 'income approach' is also part of an appraisal as well as a cost approach. The 'Sales Comparison Approach' is also part of an appraisal. All three approaches are considered and each approach is weighted as to it's relevancy to the final opinion of value.

Once the appraisal is submitted it will be subject to a forensic audit to double check all the information given (especially in an appraisal with millions at stake) and, it is also typical for the lender to require more than one valuation. In addition to all that, lenders will hire other appraisers to review the appraisal report or reports submitted.

That is 100 percent correct. I was one of the first appraisers to get the Federal License and owned my own appraisal firm and also trained appraisers.
Trump could never shortcut the process. I also was hired by lenders to evaluate the work done by other appraisers and reviewed a good many by others.