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Trump lied about value of business empire — and size of his Trump Tower penthouse, AG James says
NYdailynews.com ^ | 1/22/22 | By Noah Goldberg and Chris Sommerfeldt

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 ...


TOPICS: Chit/Chat
KEYWORDS: chrissommerfeldt; letitiajames; newyorkdailynews; newyorkdailynudes; noahgoldberg; trump
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To: GrandJediMasterYoda

Underwriters look at all bank loans


61 posted on 01/22/2022 1:32:10 PM PST by markman46 (engage brain before using keyboard!!!)
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To: GrandJediMasterYoda

Petty, weak, malicious, bovine excrement.


62 posted on 01/22/2022 1:32:12 PM PST by kanawa ((Securing the 2022/2024 elections is of paramount importance.))
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To: joshua c

“What are they talking about?”

She’s a stupid, deranged leftist with more power than she can handle. She’ll quietly lose all over court.

We do need laws against vindictive prosecutors. She said before election she would go after Trump directly.

“First the verdict, then the trial.”


63 posted on 01/22/2022 1:38:02 PM PST by Basket_of_Deplorables (Convention Of States is our only hope now! Desantis 2024!!!)
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To: reasonisfaith

But how can a liar prosecute lies while lying?
= = =

How much wood would a wood chuck chuck if a wood chuck could chuck wood?


64 posted on 01/22/2022 1:43:23 PM PST by Scrambler Bob (My /s is more true than your /science (or you might mean /seance))
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To: GrandJediMasterYoda

An old farmer saying is when I talk to my banker asking for a loan I have a 1000 cows, when I talk with the IRS I have 100.


65 posted on 01/22/2022 1:48:26 PM PST by setter
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To: GrandJediMasterYoda
but don't banks have auditors, assessors who go over this stuff before giving the OK to a loan?

Yes they do, and any bank that does not assess the value of collateral property for a loan should be in a heap of trouble with its shareholders.

66 posted on 01/22/2022 1:51:00 PM PST by ConservativeInPA ("Goats are like mushrooms. Because if you shoot a duck, I'm afraid of toasters." - Joe Biden)
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To: GrandJediMasterYoda

I took out a $125k business loan to renovate an office building I own.

The bank sent out a guy to take pictures and he measured the building...and this was for a measly $125k.


67 posted on 01/22/2022 1:52:39 PM PST by setter
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To: GrandJediMasterYoda

Of course they do. This is why none of this matters. Trump can say his property is worth whatever he wants. It’s up to appraisers to figure out what is actually worth


68 posted on 01/22/2022 1:54:30 PM PST by MrRelevant
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To: GrandJediMasterYoda

That lying POS bit** is not smart enough to even know if President Trump told the truth or not.


69 posted on 01/22/2022 1:55:24 PM PST by EastTexasTraveler
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To: GrandJediMasterYoda

The walls are closing in...


70 posted on 01/22/2022 1:57:17 PM PST by Fresh Wind (Media Control is an anagram of Delta Omicron.)
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To: GrandJediMasterYoda

Unreadable due to pop-ups.


71 posted on 01/22/2022 2:04:30 PM PST by sitetest (Professional patient. No longer mostly dead. Again. It's getting to be a habit.)
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To: Steve_Seattle

“It’s not clear to me how overstating your wealth would get you tax deductions”


In 2014, the Trump Org valued seven mansions on the Seven Springs Estate at $161 million — though they did not yet exist, according to the petition.

Trump received tax deductions worth millions of dollars as a result of the nonexistent properties, according to James.


72 posted on 01/22/2022 2:16:40 PM PST by setter
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To: setter

Well lookee here who chimed in with all of Letitias big scoop? It is the FR know it all virtue signalling poser.

Years ago you would have been kitty bait.


73 posted on 01/22/2022 2:23:18 PM PST by dforest (Freaking insane world. )
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To: kjam22

That’s ludicrous. Banks are under no obligation to get an appraisal to make a loan. As a matter of fact, many loans go off without an appraisal.


74 posted on 01/22/2022 2:26:20 PM PST by Jonny7797
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To: dforest

Seattle Steve asked how you can overstate wealth and get a tax deduction. I linked a comment showing how.

I guess in your world if you point it out you are now a liberal. Are the peons now just to shut up while the elites of both parties get away with stuff we would be thrown in jail ?

I will tell you something else. I have dealt with clients worth hundreds of millions of dollars. They did not get that way by being nice and following the rules.
_______________________________________________________

The Trump Organization, James’ office said, overstated the value of land donations made in New York and California on paperwork submitted to the IRS to justify several million dollars in tax deductions.


75 posted on 01/22/2022 2:35:44 PM PST by setter
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To: GrandJediMasterYoda

Trump lied?
Democrats: We are the champions, my friends.


76 posted on 01/22/2022 2:41:34 PM PST by windsorknot
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To: setter
The Trump Organization, James’ office said, overstated the value of land donations made in New York and California on paperwork submitted to the IRS to justify several million dollars in tax deductions.

But wouldn't that be an issue for the IRS? Why does the NY state AG have any kind of legal authority regarding IRS returns?

77 posted on 01/22/2022 2:45:57 PM PST by freeandfreezing
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To: freeandfreezing

“But wouldn’t that be an issue for the IRS? Why does the NY state AG have any kind of legal authority regarding IRS returns?”

I don’t know. I would think the IRS via an audit would be making the claims.


78 posted on 01/22/2022 2:52:13 PM PST by setter
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To: xkaydet65

County assessors typically understate the “taxable” value of your property to fool you into thinking you’re getting a deal. They screw you via the tax rate. This is to discourage appeals for a lower valuation.


79 posted on 01/22/2022 3:04:29 PM PST by Auntie Dem (Hey! Hey! Ho! Ho! Terrorist lovers gotta go!)
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To: setter

Total BS. Property tax DEDUCTIONS are allowable only for actual taxes PAID. If no taxes had been assessed (because the properties did not yet exist) Trump could not have paid them. Trump’s accountants are too thorough to claim deductions for something not paid.


80 posted on 01/22/2022 3:12:05 PM PST by Auntie Dem (Hey! Hey! Ho! Ho! Terrorist lovers gotta go!)
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