He was in many horror films................
Posted on 02/23/2024 9:23:25 PM PST by Red Badger
In a stunning twist of lawfare irony, New York Supreme Court Justice Arthur Engoron has committed the very same financial fraud that he accused former President Trump of: economic overvaluation. The difference is that Judge Engoron’s fraud has real victims – Trump, the Trump organization, and the American people. On the other hand, Trump’s alleged fraud had no victims.
You’re probably familiar with the basic facts of the Trump civil fraud case. New York Attorney General Letitia James, who campaigned on a Third World-esque platform targeting Trump, launched civil fraud proceedings against the Trump organization under a New York consumer protection statute. These laws are meant to protect consumers from fraud in their transactions.
James claimed that Trump overestimated the value of real estate and other assets used to secure commercial loans. She believed that even large banks like Deutsche Bank needed her protection in their loan business. However, banks perform their own valuations when lending, even for smaller amounts. They do more thorough estimates for larger loans.
Now let’s talk about Engoron, the man who ruled on the Trump case and committed financial fraud against Trump and America. Engoron had to draw certain conclusions based on undisputed evidence. There were no victims of Trump’s alleged fraud, and no losses resulted from it. The lenders who made the loans had performed their own valuations, were fully paid back, and made significant profits. They were satisfied with their business with Trump and wanted to continue working with him.
Overvaluing Trump’s ‘Ill-Gotten Gains’
In a sane world, that would have been the end of it. But in Democrat-controlled New York, Engoron used a rarely used form of “equitable” relief called “disgorgement” to prevent Trump from keeping his alleged “ill-gotten gains.” Engoron then proceeded to overvalue Trump’s gains to an absurd extent, surpassing anything Trump was accused of.
First, Engoron ordered Trump to disgorge $168 million in so-called interest payment “savings” that he supposedly gained from certain loans. Engoron claimed that Trump took advantage of lower interest rates on recourse loans compared to non-recourse loans.
Recourse loans provide more security for lenders and therefore have lower interest rates compared to non-recourse loans. Engoron’s calculation of disgorgement was based on a false comparison between the two types of loans, resulting in a grossly overvalued amount.
Engoron could have used a proper economic analysis to calculate Trump’s alleged gains accurately. However, doing so would have resulted in zero “ill-gotten gains” for Trump. The interest rates Trump obtained were based on the lenders’ own valuations, not Trump’s. Therefore, Engoron’s $168 million disgorgement calculation was falsely overvalued by the full amount.
Fabricating Old Post Office Building Profits
Judge Engoron also ordered the Trumps to disgorge approximately $135 million in profits from the acquisition, transformation, and sale of the Old Post Office property in Washington, D.C. Engoron based his order on the theory that without alleged “ill-gotten savings on interest rates,” Trump wouldn’t have been able to invest in the project. However, this determination is also overvalued as Trump obtained no such savings. Engoron falsely inflated this portion of his disgorgement valuation by the full $135 million.
Engoron’s analysis is economically absurd. His reasoning is limited and fails to establish that Trump’s profits are “ill-gotten gains.” The loans may have helped Trump enter the deal, but the profits were made through Trump’s creative transformation of the old post office building. Loans alone don’t guarantee success. Engoron’s decision to attribute all the profits to the loans is another improper and extreme overvaluation.
Unlike Trump’s alleged overvaluations, Engoron’s financial manipulation has real victims – Trump, his family, and the Trump organization. But the harm goes beyond that. Made during an election year against a major party candidate, Engoron’s ruling is a financial fraud on America.
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Joseph LoBue is a retired Naval officer and attorney.
Good points. The bank slashed the value in half, according to testimony. And still granted the loan at that rate - whatever it was.
I see it as an exercise for the risk. The bank said “what if we slashed these estimates by 50%, would it still qualify?” And they said yes. So there was no “gain”. They would’ve done the same loan at the same rate even if was worth half as much.
Totally egregious ruling but we all know that. This is totally political, admittedly by the prosecutor and basically by the governor. It should be overturned. Hopefully Trump and his attorneys can figure a way out of this charade. Maybe Burisma can give him a loan to post the bond for appeal 😂
If it really is judge corpse coming up with this to attack PDJT then he appears to be full on crazy.
However, I am beginning to believe that there is a team working just on this aspect of the war on Trump.
How they ever expect to get away with this idiocy is a mystery but I believe it will come out and there will be zero surprises (by Normal Americans that is) regarding the identity of the traitors.
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That FUGLY MORON is PURE EVIL and needs an EXORCISM by his RABBI! PURE EVIL!
You can BET there is a TEAM of EVIL DEMOCRAT LAWYERS helping that MORON JUDGE!
This short video from PBD podcast is vey interesting regarding Mar-A-Lago and it’s worth today.
vey = very
Engoron drew certain conclusions that were based on undisputed evidence.
<><>There were no victims of Trump’s alleged fraud,
<><>and no losses resulted from it
<><>The lenders who made the loans performed their own valuations,
<><>they were fully paid back, and made significant profits.
<><>They were satisfied with Trump and wanted to continue doing business with him.
Engoron overvalued Trump’s gains to an absurd extent, surpassing anything Trump was accused of.
<><>Engoron ordered Trump to disgorge $168 million
<><>so-called interest payment “savings” that he supposedly gained from certain loans.
<><>Engoron suggested Trump preyed on lenders
<><>that Trump got “lower interest rates” using recourse loans compared to non-recourse loans.
Recourse loans provide more security for lenders and therefore have lower interest rates compared to non-recourse loans.
Engoron’s calculation of disgorgement was based on a false comparison between the two types of loans, resulting in a grossly overvalued amount.
Engoron could have used a proper economic analysis to calculate Trump’s alleged gains accurately. However, doing so would have resulted in zero “ill-gotten gains” for Trump.
The interest rates Trump obtained were based on the lenders’ own valuations, not Trump’s. Therefore, Engoron’s $168 million disgorgement calculation was falsely overvalued by the full amount.
Maybe President Trump should borrow the funds from Deutsche Bank to post bond while the appeals process plays out, then sue the State of New York for the interest and handling charges to pay the money back after he wins on appeal.
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Judge would make an excellent monster for a scary movie.
Egad but this man is butt-ugly!
He was in many horror films................
Based on what I have read,this Judge Engoron may well be the one who needs to be brought to justice. I can’t see where Trump has done anything wrong in this case. The Judge just(like many others) seems to have a grudge against Trump & that would seem to be the gist of it. If it were up to me, Trump would be dismissed of all charges & maybe a few of those judges(including Engoron) would serve time instead.
Nothing that happens to Engoron, James or the state of New York can be bad enough.
18 USC 241 — Conspiracy to deprive rights under color of law.
Unfortunately, this is a criminal statute that can only be brought by a DA or AG. AG James will not charge herself or her accomplice.
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