Posted on 01/22/2022 11:45:11 AM PST by GrandJediMasterYoda
Trump lied about value of business empire — and size of his Trump Tower penthouse, AG James says
Lies about size matter.
Former President Donald Trump and his children have lied about seemingly everything in the Trump Org empire — from the size of the patriarch’s luxury Manhattan penthouse to the value of properties around the globe — in order to score an array of financial benefits, New York Attorney General Letitia James charged in bombshell court papers.
The lies to banks, government agencies and other regulators were “part of a pattern to suggest that Mr. Trump’s net worth was higher than it otherwise would have appeared,” attorneys with James’s office wrote in the Manhattan Supreme Court petition filed late Tuesday.
The misleading missives helped Trump fraudulently obtain loans, tax deductions, insurance coverage and other economic perks, James charged.
One of the most egregious alleged examples of the family’s “misstated objective facts” could be found at the top of the twice-impeached former president’s Midtown Manhattan skyscraper.
(Excerpt) Read more at nydailynews.com ...
what bank that lent him money was victimized? did he not pay back the loan? did he not pay the interest they need to make money? would they still have lent him the money to a billionaire even if his assets had been valued lower?
This is all a dog and pony show for the leftist base.
James is to dumb and uninformed to know that. I was applying for a refi a d my mortgage company’s assessment came back 50K higher than Nassau County’s assessment for this year. I dropped the refi for other reasons but had I gone forward Nassau County would have access to the assessment and raised theirs. So if NYC and other areas where Trump had real estate holdings did not seek to review his loan docs that’s on them not him.
Hi.
New York Attorney General Letitia James is not the only AG who wants to prevent president Trump from running again.
I would wager that New York Attorney General Letitia James and most of the politicians in NY are corrupt, and the Trump corp isn’t.
5.56mm
“Trump has since 2012 claimed in tax and banks records that his triplex penthouse in Trump Tower was 30,000 square feet, according to James.”
This is complete BS. No lender takes square footage information from a borrower. Square footage is public information at every courthouse website. If the lender didn’t at least look at that nor get an appraisal they didn’t do the normal diligence.
I didn’t see anything about these loans not getting paid back, where are the foreclosures? If Trump performed on the loans, what difference does it make what the square footage was listed at?
It’s not clear to me how overstating your wealth would get you tax deductions.
Wasn’t it the coconuts?
The dummy who has never owned anything in her life lives in a fantasy world where you just tell a bank what something is worth and they just shovel the money over to you.
The woman is an embarrassment. Not only that but values go up and down based on the market, so it might be worth one thing one day and another the next.
She is also not aware of tax basis vs book basis
Money shovled to her is probably what she has experienced, otherwise she plays “the Card” !
This is just going to boil down to a swearing contest. She’ll get her experts to claim his properties were worth far less. He’ll get his experts to claim his properties were worth what he said they were. Its SUBJECTIVE. How do you value goodwill? How much do you value brand name, reputation, etc etc? Its debatable and such arguable valuations are standard in real estate.
In other words, she’s got nothing. This is obviously politically motivated. Trump’s lawyers need go no further than bring up her campaign promises to get Trump at all costs to show that.
The dumb bitsh is fishing. Banks have to independently verify assets they lend against, especially commercial real estate. An appraisal contains three methodologies to determine value and has to be ordered by and internally reviewed by a review appraiser to assess accuracy.
James is just one more incompetent black female trying to show who is boss.
Too much missing...who did the measuring ? was it inside to inside wall ? or outside wall to out side wall ? how do the bankers go thru this process bein blind?
Usually you hit someome with your best shot...Seems like if this is all\the best they’ve got, they are in trouble...
Trump never thought that GP James would figure out that he had a DUPLICATE key to the wardroom...
The failed English majors Noah Goldberg and Chris Sommerfeldt, and the lawyer Letitia "Ghettopotamus" James, who all avoided the icky math and accounting subjects in skool, are certain of it.
Wow
This guy, Trump, must be some kinda sociopathic, career criminal, the way everyone is going after him.
Just sad the man was ever allowed to become president…./S
I don’t think these criminal district attorneys know what kind of fire they are playing with
If I were their friend we’d have a few words and end our friendship
“Buyer be aware”
“The economic value represents the maximum amount a customer is willing to pay for something.”
****
Seems that Ms. James, like some females, is a Size Queen!
DJT, like most men, sometimes exaggerates the size of things.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.