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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 03:39PM |
[apnews.com]
Judge rules Donald Trump defrauded banks, insurers as he built real estate empire
NEW YORK (AP) — 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.
Judge Arthur Engoron, ruling Tuesday 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.
The decision, days before the start of a non-jury trial in Attorney General Letitia James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family’s ability to do business in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but six others remain...
Judge rules Donald Trump defrauded banks, insurers as he built real estate empire
NEW YORK (AP) — 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.
Judge Arthur Engoron, ruling Tuesday 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.
The decision, days before the start of a non-jury trial in Attorney General Letitia James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.
Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.
Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing.
Manhattan prosecutors had looked into bringing a criminal case over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that could disrupt his and his family’s ability to do business in the state.
Engoron’s ruling, in a phase of the case known as summary judgment, resolves the key claim in James’ lawsuit, but six others remain...
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 03:43PM |
[en.wikipedia.org]
Summary judgment
In law, a summary judgment, also referred to as judgment as a matter of law or summary disposition, is a judgment entered by a court for one party and against another party summarily, i.e., without a full trial. Summary judgments may be issued on the merits of an entire case, or on discrete issues in that case. The formulation of the summary judgment standard is stated in somewhat different ways by courts in different jurisdictions. In the United States, the presiding judge generally must find there is "no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law."
(Emphasis added.)
Edited 1 time(s). Last edit at 09/26/2023 03:43PM by Tiangou.
Summary judgment
In law, a summary judgment, also referred to as judgment as a matter of law or summary disposition, is a judgment entered by a court for one party and against another party summarily, i.e., without a full trial. Summary judgments may be issued on the merits of an entire case, or on discrete issues in that case. The formulation of the summary judgment standard is stated in somewhat different ways by courts in different jurisdictions. In the United States, the presiding judge generally must find there is "no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law."
(Emphasis added.)
Edited 1 time(s). Last edit at 09/26/2023 03:43PM by Tiangou.
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 04:04PM |
Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 04:30PM |
The full brief here. Quick perusal shows that Judge also granted sanctions (very small ones in $s, but nevertheless) against Team Trump, with juicy language.
Before,
There’s more:
Ooh. Ouch. That’s gonna leave a mark.
Before,
Quote
… the Court declined to impose sanctions, believing it had “made its point.”
Apparently, the point was not received.
There’s more:
Quote
In defendants’ world: rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air; a disclaimer by one party casting responsibility on another party exonerates the other party’s lies; the Attorney General of the State of New York does not have capacity to sue or standing to sue (never mind all those cases where the Attorney General has sued successfully) under a statute expressly designed to provide that right; all illegal acts are untimely if they stem from one untimely act; and square footage is subjective.
That is a fantasy world, not the real world.
Ooh. Ouch. That’s gonna leave a mark.
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 05:04PM |
Quote
pdq
Amazon finally sued over anti-competitive behavior.
Alabama ignoring them finally too much for even this SCOTUS to swallow.
And now this.
Is it Christmas already?
Edit:
Whoop: Gov. Newsom signs law raising taxes on guns and ammunition to pay for school safety
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 05:39PM |
Since branding is intrinsically part of his business, the dissolution should result in the removal of his marks.
In other words, 721–725 Fifth Avenue will become know to the next generation as GMAC Tower.
(It's not his property. He brands and manages it.)
Edited 1 time(s). Last edit at 09/26/2023 05:39PM by Tiangou.
In other words, 721–725 Fifth Avenue will become know to the next generation as GMAC Tower.
(It's not his property. He brands and manages it.)
Edited 1 time(s). Last edit at 09/26/2023 05:39PM by Tiangou.
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 06:00PM |
The dishes and ketchup must be flying at Mar-a-Lago. 
Has he posted an all-caps response yet? I couldn't find anything.
Northern California Coast
Has he posted an all-caps response yet? I couldn't find anything.
Northern California Coast
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 07:01PM |
a tidbit from his deposition:
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 07:23PM |
Quote
hal
a tidbit from his deposition:
Quote
...the numbers cannot be inflated because he could find a "buyer from Saudi Arabia to pay any price he suggests.
Of course Trump's legal argument is specious but I wouldn't be surprised if everything after the word "because" in that statement is true. It's so pathetic.
e pluribus unum
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 10:00PM |
Keep talking Chinless, Stephen Colbert will be back soon.
Give me my job back, Daddy
[thehill.com]
Eric Trump railed against a judge’s valuation of his father’s Mar-a-Lago resort in a New York fraud case, claiming the Florida property could be worth over a billion dollars.
“In an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate ’18 Million dollars’…Mar-a-Lago is speculated to be worth we’ll over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated,” Eric Trump wrote Tuesday in a post on X, formerly known as Twitter.
In a court filing Tuesday, Justice Arthur Engoron ruled Trump committed fraud in building his real estate empire through falsely valuing multiple of his properties, including the Mar-a-Lago resort and Trump Park Avenue in New York.
On X in the wake of the ruling, Eric Trump insisted his father’s claims about Mar-a-Lago were correct, writing that the Palm Beach estate is “speculated to be worth well over a billion dollars making it arguably the most valuable residential property in the country.” He called the ruling and the lawsuit “an attempt to destroy my father and kick him out of New York.”
See ya at the homeless shelter, moron.
Edited 1 time(s). Last edit at 09/26/2023 10:01PM by Steve G..
Give me my job back, Daddy
[thehill.com]
Eric Trump railed against a judge’s valuation of his father’s Mar-a-Lago resort in a New York fraud case, claiming the Florida property could be worth over a billion dollars.
“In an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate ’18 Million dollars’…Mar-a-Lago is speculated to be worth we’ll over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated,” Eric Trump wrote Tuesday in a post on X, formerly known as Twitter.
In a court filing Tuesday, Justice Arthur Engoron ruled Trump committed fraud in building his real estate empire through falsely valuing multiple of his properties, including the Mar-a-Lago resort and Trump Park Avenue in New York.
On X in the wake of the ruling, Eric Trump insisted his father’s claims about Mar-a-Lago were correct, writing that the Palm Beach estate is “speculated to be worth well over a billion dollars making it arguably the most valuable residential property in the country.” He called the ruling and the lawsuit “an attempt to destroy my father and kick him out of New York.”
See ya at the homeless shelter, moron.
Edited 1 time(s). Last edit at 09/26/2023 10:01PM by Steve G..
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Re: Trump and Co liable for fraud in NY case Date: September 26, 2023 10:10PM |
Quote
Steve G.
Keep talking Chinless, Stephen Colbert will be back soon.
Give me my job back, Daddy
[thehill.com]
Eric Trump railed against a judge’s valuation of his father’s Mar-a-Lago resort in a New York fraud case, claiming the Florida property could be worth over a billion dollars.
“In an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago, in Palm Beach Florida, is only worth approximate ’18 Million dollars’…Mar-a-Lago is speculated to be worth we’ll over a billion dollars making it arguably the most valuable residential property in the country. It is all so corrupt and coordinated,” Eric Trump wrote Tuesday in a post on X, formerly known as Twitter.
In a court filing Tuesday, Justice Arthur Engoron ruled Trump committed fraud in building his real estate empire through falsely valuing multiple of his properties, including the Mar-a-Lago resort and Trump Park Avenue in New York.
On X in the wake of the ruling, Eric Trump insisted his father’s claims about Mar-a-Lago were correct, writing that the Palm Beach estate is “speculated to be worth well over a billion dollars making it arguably the most valuable residential property in the country.” He called the ruling and the lawsuit “an attempt to destroy my father and kick him out of New York.”
See ya at the homeless shelter, moron.
If the Palm Beach County assessors office valued it that high AND sent a property tax bill based on that value, should we assume that PAB45 will pay it, no questions asked?
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Re: Trump and Co liable for fraud in NY case Date: September 27, 2023 07:25AM |
…he could find a buyer from Saudi Arabia to pay any price he suggests.
A stunning admission of presidential corruption.
Exactly how and why did his son-in-law (who is not and never has been a legitimate investment manager) get $2B in Saudi money to “manage”?
Now we know.
A stunning admission of presidential corruption.
Exactly how and why did his son-in-law (who is not and never has been a legitimate investment manager) get $2B in Saudi money to “manage”?
Now we know.
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Re: Trump and Co liable for fraud in NY case Date: September 27, 2023 07:43AM |
Quote
Mr645
So banks and lenders for Trump don't do real estate appraisals like they do for every other loan they make? Banks can't be too pissed as they keep writing loans.
Quote
Kara Scannell, a CNN correspondent well-versed in all of Trump’s various legal and financial entanglements; 3/22 interview
Big Wall Street banks stopped lending to the Trump Organization more than a decade ago following Trump’s bankruptcies and litigation – apart from German lender Deutsche Bank, which was trying to make a mark in the US. Deutsche Bank, which has loaned the company more than $300 million, said after the January 6, 2021, attack on the US Capitol that it would no longer do any future business with Trump.
So now, any new loans are coming from small banks (like Axos Bank, formerly known as “Bank of the Internet”
) that share a certain similarity:
Quote
…its president for more than a decade has been Greg Garrabrants, a Trump supporter… He and the chief credit officer, who signed the loan agreement, have donated thousands of dollars to Republicans, Trump and Trump-related campaigns in recent years.
Basically, more corruption, trying to curry favor, waiting for their big payoff down the road.
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Re: Trump and Co liable for fraud in NY case Date: September 27, 2023 08:56AM |
Quote
Mr645
Quote
pdq
Quote
Mr645
But according to NYC, Mar-A-Lago is only worth $18 million?
No, that’s according to the Palm Beach County accessor. Take it up with him/her.
But I presume he/she did that as a favor to Trump, to reduce his property tax bill, probably after badgering by Trump.
The thing is, you can’t have it both ways, you know?
So all you have t do is badger the county tax office and they lower your appraised value? I live in Palm Beach County, I should try that trick.
PBC property tax rate is 1.11% and Trump paid $1.51 million in property taxes for the 3 plots that make up his home. Do a little math
Typical and transparent!
You completely avoid and ignore the fact that you literally just claimed...
"But according to NYC, Mar-A-Lago is only worth $18 million?"
MAGAt SOP; When the facts contradict your claims, just ignore them.
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