Overvalued Real Estate - Is Latisha James Playing With Fire in Trump matter?

[JoeB131]

I understand that you’re the envious type, that’s why you’re a Liberal Democrat, why don’t you quit your greeter job at Walmart and try dating biological females instead of the transgender men who are suffering from mental illness…

I’ll make you a bet, if President Trump wins his appeal, you have to show us your mom’s basement where you live, pictures will suffice…

My mom passed away 40 years ago... Also, I live in a second floor condo with my wife. (who I am reasonably sure is cisgendered because she has a kid.)


Not sure what any of this has to do with the fact that Trump was caught red handed lying about his properties. Such as where he claimed an apartment was 30K square feet when it was actually 11K SF. Now, you claim that the banks ALWAYS check the claims made about properties, but clearly that wasn't done in this case.

Trial Document: Trump Acknowledged Penthouse Size at 11,000 Square Feet, not 30,000 He Later Claimed

Donald Trump signed a document 30 years ago that gave the true size of his New York penthouse that was later listed as far larger on his financial statements, according to evidence shown Tuesday at the former president's civil business fraud trial. The evidence appeared in an email attachment...

www.voanews.com

Trump defrauded the banks. This is why they are going to dismantle his businesses in New York.

 

[JoeB131]

You mean Burisma, the Bidens and Zelen$ky, not the prosecutor

No, I mean Shokin, who was dismissed by the Ukrainian Rada (Parliament) after his two deputies were caught with large quantities of foreign cash and uncut diamonds they couldn't account for.

 

[GWV5903]

The argument, that the New York lawsuit against Donald Trump for allegedly overvaluing his properties is baseless because banks use their own appraisers, contains several flaws:

Financial institutions often rely on the financial statements and disclosures provided by their clients. While banks do employ their own appraisers, they also depend on the honesty and accuracy of the information provided by clients. If a client intentionally misrepresents their assets' value, it can affect the bank's risk assessment and lending decisions.

If widespread asset overvaluation like the kind alleged in the New York lawsuit against Donald Trump were to become common, it could distort risk assessments, potentially leading to higher interest rates for all borrowers. This lawsuit, represented as "The People of New York versus Donald Trump," highlights the broader public interest at stake. The point is, someone asked 'who is the victim?", it's the plaintiff, "The People Of New York". Moreover, providing inconsistent valuations for the same property in different contexts, such as to banks and insurance companies, could constitute fraud, underscoring the serious legal implications of such actions.

The core issue in the lawsuit is not merely about the difference in valuation but the intent behind it. If it can be proven that there was a deliberate attempt to mislead or commit fraud, the argument of banks using their own appraisers becomes secondary. Fraudulent intent in financial dealings is a serious legal issue, regardless of the safeguards in place.

Overvaluation of assets can also impact tax assessments and other regulatory compliances. If properties are overvalued, it might lead to reduced tax liabilities or other undue advantages, affecting state revenue and compliance with laws.

Bank appraisals are a part of the due diligence process but do not absolve the borrower from the responsibility of accurate representation. Banks' appraisals are often based on the information provided by the borrower, so if this information is flawed, the appraisal can also be compromised.

Misrepresentation in financial statements can violate various legal and ethical standards in business practices. The argument that banks should catch every discrepancy overlooks the responsibility of individuals and businesses to engage in honest and transparent dealings.

Addressing alleged overvaluation is also a matter of setting a legal precedent and deterring similar behavior by others. Dismissing such cases on the grounds that banks have their own appraisers could encourage others to attempt similar misrepresentations.

In summary, the argument underestimates the importance of honesty and accuracy in financial disclosures and overestimates the ability of bank appraisals to catch every instance of misrepresentation or fraud. The legal implications of fraudulent misrepresentation are significant, irrespective of the checks and balances employed by financial institutions.

Now your claim is his audited financials are fraudulent, yet the loans were paid in full.

 

[irosie91]

Now your claim is his audited financials are fraudulent, yet the loans were paid in full.

Long ago----a personal anecdote---I found that my dead beat ex husband was living with a female who used his last name but was not his wife---FINE WITH ME----but the telephone and just about everything else was in her fraudulent name. I called the telephone company to let them know that the telephone was registered in a false name and was assured---"NO ONE CARES AS LONG AS THE BILL IS PAID" so true---he paid the bill so----no problem

 

[JoeB131]

Now your claim is his audited financials are fraudulent, yet the loans were paid in full.

It doesn't matter. He wouldn't have gotten the loans if he had valuated his properties correctly. He wouldn't have been able to then use those loans to invest in other business ventures, SOME of which DID go bankrupt.

 

[GWV5903]

Long ago----a personal anecdote---I found that my dead beat ex husband was living with a female who used his last name but was not his wife---FINE WITH ME----but the telephone and just about everything else was in her fraudulent name. I called the telephone company to let them know that the telephone was registered in a false name and was assured---"NO ONE CARES AS LONG AS THE BILL IS PAID" so true---he paid the bill so----no problem

Now you claim your ex husband’s phone bill ia the same as a $125MM loan

 

[CrusaderFrank]

No, I mean Shokin, who was dismissed by the Ukrainian Rada (Parliament) after his two deputies were caught with large quantities of foreign cash and uncut diamonds they couldn't account for.

Oh, his 2 deputies were caught you say.....interesting

And this was AFTER they started investigating Hunter right

And that stopped all corruption in Ukraine, right?

 

[CrusaderFrank]

It doesn't matter. He wouldn't have gotten the loans if he had valuated his properties correctly. He wouldn't have been able to then use those loans to invest in other business ventures, SOME of which DID go bankrupt.

But you have no idea how commercial real estate lending works, correct?

Oh wait! You're thinking of how business works in China! No wonder you have it so wrong! See, in America the BANK determines the value and the loan sizing

That's why so many USMB Progressives get it wrong, they are thinking in Chinese!!

 

[hadit]

The rest of the story

He used the valuation to get a loan. It falls under real estate laws


it is aa felony or a misdemeanor

Loan fraud or lending fraud encompasses any kind of deceitful action designed to gain a financial advantage during the loan process. There are many types of loan fraud, such as mortgage fraud,

Who did the valuation? If it was fraudulent, they should be facing prosecution. We know TRUMP! didn't do it, because no bank would EVER accept the land owner's valuation at face value, so who did it and why haven't we seen that name get vilified by the usual suspects?

 

[hadit]

It doesn't matter. He wouldn't have gotten the loans if he had valuated his properties correctly. He wouldn't have been able to then use those loans to invest in other business ventures, SOME of which DID go bankrupt.

See, the thing is, TRUMP! didn't place the value on those properties. As I've stated, no bank EVER blindly accepts the word of the landowner on the value of his property (especially not when this amount of money is on the table), so who did the valuation? It had to be an entity the bank would accept and whose word it would trust, so who did it? THAT person or company should be getting grilled in court right now.

 

[hadit]

My mom passed away 40 years ago... Also, I live in a second floor condo with my wife. (who I am reasonably sure is cisgendered because she has a kid.)


Not sure what any of this has to do with the fact that Trump was caught red handed lying about his properties. Such as where he claimed an apartment was 30K square feet when it was actually 11K SF. Now, you claim that the banks ALWAYS check the claims made about properties, but clearly that wasn't done in this case.

Trial Document: Trump Acknowledged Penthouse Size at 11,000 Square Feet, not 30,000 He Later Claimed

Donald Trump signed a document 30 years ago that gave the true size of his New York penthouse that was later listed as far larger on his financial statements, according to evidence shown Tuesday at the former president's civil business fraud trial. The evidence appeared in an email attachment...

www.voanews.com

Trump defrauded the banks. This is why they are going to dismantle his businesses in New York.

Banks that loan millions but do no checking? Boy, I sure want to work with them. Why haven't we seen mass firings at the banks over this?

 

[irosie91]

Now you claim your ex husband’s phone bill ia the same as a $125MM loan

I have no idea what his phone bill is----my point is----just how does one
define fraud-----the telephone company defines it as-----whether or not
the bill is paid

Banks that loan millions but do no checking? Boy, I sure want to work with them. Why haven't we seen mass firings at the banks over this?

we HAVE seen mass foreclosures

 

[hadit]

I have no idea what his phone bill is----my point is----just how does one
define fraud-----the telephone company defines it as-----whether or not
the bill is paid

we HAVE seen mass foreclosures

My point is, if banks are being defrauded by such massive amounts, it's a yuuuuge scandal. Somebody is costing them untold sums of money or is going to when the first couple of billionaires default on some $500 million loans, right (not TRUMP!, obviously, because he paid everything back on time)? That means that somebody at these banks is not doing their job, or the appraisers that the banks are trusting are being absolutely incompetent.

That means there should be a lot of newly unemployed people somewhere in the banking and appraisal industries.

 

[hadit]

It shatters credulity to think that TRUMP! simply called up a bank president and said, "I want $50 million dollars, and I want to use Mar a Lago as collateral. It's worth $100 million.", and the bank president said, "Sure, no problem. You want that in 100's or 20's?".

Banks don't take landowners' word for the value of their property. Who did the appraisal and why are they not being grilled in court? I know it's all trendy and stuff and everybody's wetting themselves because TRUMP! is under fire, but this is ridiculous.

Now, granted, the bank was never in danger of losing money because TRUMP! paid it all back on time.

 

[JoeB131]

Oh, his 2 deputies were caught you say.....interesting

And this was AFTER they started investigating Hunter right

And that stopped all corruption in Ukraine, right?

Shokin was never investigating Hunter or Bursima.

But you have no idea how commercial real estate lending works, correct?

Considering I'm on my third mortgage, I have it pretty down pat.

Trump lied about the value of his properties.

Oh wait! You're thinking of how business works in China! No wonder you have it so wrong! See, in America the BANK determines the value and the loan sizing

China would never let a buffoon like Trump get into power.

 

[Crepitus]

 

[CrusaderFrank]

Shokin was never investigating Hunter or Bursima.


Considering I'm on my third mortgage, I have it pretty down pat.

Trump lied about the value of his properties.


China would never let a buffoon like Trump get into power.

No China lets in a guy whose sister was murdered by your CCP

And when you obtained the mortgage, you told the bank what your property was worth, right?

 

[hadit]

Trump lied about the value of his properties.

And you think the bank just took him at his word, that they would lend millions just because he claimed a certain value on a property? How stupid are these bank people? Well, I guess, after all, he did repay everything on time, so they were right, but still, to just blindly accept his word? That's stupid.

 

[hadit]

View attachment 861234

Why do you keep believing he could just make up a number and the bank would blindly accept it?

 

[Rumpole]

Now your claim is his audited financials are fraudulent, yet the loans were paid in full.

It's irrelevant to the charge. Please reread the post. Thank you.