Trump lied? MAGA world in shock...still angry

Can't wait for how the Magazombies are going to spin this!

Source:
https://apnews.com/article/donald-trump-letitia-james-fraud-lawsuit-1569245a9284427117b8d3ba5da74249


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

BY MICHAEL R. SISAK
Updated 1:58 PM PDT, September 26, 2023

NEW YORK (AP) — A judge ruled Tuesday that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

Judge Arthur Engoron, ruling in a civil lawsuit brought by New York’s attorney general, found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee the Trump Organization’s operations.

A Trump spokesperson did not immediately respond to a request for comment on the ruling. Trump has long insisted he did nothing wrong.

 

“It's easier to fool people than to convince them that they have been fooled.”
― Mark Twain

 

The MAGAzombies wont believe it anyway, they are too far gone

 

Calm down for a sec and actually think about this objectively.

First, this is a civil case, not a criminal one.

Every business person and seller on Craigslist over values the stuff they have to sell and undervalues stuff they want to buy. Same goes for collateral etc. The banks have their own appraisers if they thought it was out of line you wouldn't get the loan. It’s caveat emptor if you are a lender, do your due diligence on the collateral.

This is going to be a tough one to prove, since it would claim that the lender had no clue of the value of one of the most famous properties in the world. As a business; which it is, Mar a lago has a membership value of $100M and annual base income of $7M in annual fees, plus the value of the property, plus the value of the Trump residence.

The assessed value that any county has for taxes is usually total BS and much lower than reality.

A NY state prosecutor is alleging that Trump overstated the value (of course he did, so does everyone else) of his Florida property to a German bank and it was way over what the Florida assessor has on record. (I am particularly fond of the use of “misleading”.)

Aside from the fact I have no idea why this is illegal, how does NY have jurisdiction? I could see a suit where he had undervalued Trump tower, but that would be the assessors job to challenge.

 

It's legit not going to matter. The cultists voters will vote for him no matter what. He is crushing everyone else in the polls and polls better with each ruling and indictment. Its fucking insane. Voters are so delusional, I had a fight with my dad a few weeks ago abt interpretation vs facts. His claim was no matter how you interpret something, you are right and facts don't matter if no one cares or agrees with the facts. It was fucking dumb.

I will say I'd rather argue politics with him now than how we used to argue about being in a relationship with my brother. Pick your battles people. lol

 

There is a legit anti-Trump cult that doesn't care what this means for common people, they're motivated to hate the guy with every fiber of their being and anything objective is discarded.

Whether or not he was good or bad president has nothing to do with this.

Meanwhile no prosecutor is going after the Epstein client list.

 

Hahahahaha

No, anti-Trump people are not cultists and they care for the PEOPLE, not for that crazy mf cult leader

 

Yet is doesn't bother you that a judge rules on something outside of her jurisdiction that is common practice and not criminal?

You're the one being rather unhinged in these threads. I'm asking that you take a step back and look at this as if it were anyone else.

BTW: "According to financial disclosure forms filed by Trump, the Mar-a-Lago Club had $29.7 million in gross revenues in the period June 2015 through May 2016.[36] The club had revenues of $25.1 million for calendar year 2017, $22 million in 2018, and $21.4 million in 2019.[37][38]

In 2022, Forbes estimated the value of the estate at around $350 million.[25] Forbes said that 'Real estate experts outside of Palm Beach guessed that the place was worth more than $200 million. Brokers on the island thought it could be worth far more, with the most aggressive estimate coming in at $725 million. "

https://en.wikipedia.org/wiki/Mar-a-Lago

 

That judge is smoking crack if he thinks that Mar a Lago is only worth $20 million. Land in that area alone sells for $20 million an acre and Mar a Lago is 20 acres. He is using county assessors tax records to come up with that price from a purchase in 1985. Property taxes in most stats are calculated on value based on original purchase price then small percentage increases year over year. New York being a state of morons might do it differently but most states only do major corrections once the property is sold and then the new buyer get hit with the higher tax price.

 

You really use WIKIPEDIA as a source? XD

 

Forbes.

 

Note to self: never buy anything from PerfectAwful posted on CL.

You may want to check out NY's Martin Act, which is what the NYAG is using in this case.

 

That is the "Perception is Reality" argument.

It is a decent starting point on which to base an argument...but only as a starting point.

I believe it is more accurate to say an unchallenged perception is a person's reality.

Polls right now will change drastically, IMHO, as things progress.

I wish Mayor Pete would run again this time around.

 

Right, my bad I was thinking his property in Florida.

 

BTW overstating value (especially square footage) is standard practice in NYC. It's still on the lender to do their own assessment.

 

The problem is that the law recognizes the responsibility of the lender to do their due diligence, which obviously wasn't done in this case.

Regardless, it's obvious the only reason Trump is being singled out is because of politics.