Skip to comments.Michael Cohen: NYC Fraud Ruling Will Likely Lead to Trump Bankruptcy
Posted on 09/27/2023 5:21:39 AM PDT by ChicagoConservative27
Michael Cohen, a former personal attorney for Donald Trump, predicted Tuesday on CNN’s “The Source” that the former president will likely be bankrupted by the damages awarded in New York Attorney General Letitia James’ civil suit after the judge found Trump is liable for fraud.
Judge Arthur Engoron found, “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.”
Anchor Kaitlan Collins said, “This is still going to trial. This is the judge saying the core of this investigation, it can stand. If he goes to trial and there is a judgment for $250 million, can he pay that or is he going to bankruptcy?”
(Excerpt) Read more at breitbart.com ...
He overvalued assets?! Oh, the horror! Even if true, isn’t it a pretty common practice? Besides, isn’t it the lender’s responsibility to evaluate claimed assets and their value?
Yes, everyone does it. It’s called Truthful Hyperbole. What about Hillary? What about Hunter??
This whole thing is stupid. People (like Trump, or like you and I) do not go to banks and say, “I’m worth $10B — can I get a loan?” Well, you can try that, but you won’t get a loan. Banks and other institutions have highly paid experts who assess your holdings. THEY decide how much you are worth and THEY choose to loan you money, or not. It just doesn’t seem like a fraud situation. But Democrat judges can see all kinds of things.
Cohen is an idiot but the judgment is an abomination.
If it does stand I think it will cause Trump to win in a landslide.
Did any of the lenders ever complain? There should be a back trail of documentation by multiple entities going back all those years. What a sad joke.
Doesn’t a civil liability judgement need to show HARM to someone.
You know, the party of the first part?
“Even if true, isn’t it a pretty common practice?“
What is acceptable and overlooked for anyone else is not for Trump. Any offense real or imagined is weaponized.
the Democratic party was harmed because Trump ran as a Republican!
And I would definitely take anything Cohen says with a grain of salt. But he serves the narrative.
I believe early on Trump.....knowing what the haters would attempt.....
transferred all his business entities to his sons.
Hmmm...maybe he should run as a Democrat. Same policies, different box. Ace Biden out in the primaries.
Yeah, the court thinks Mar a Lago is worth $18 million.
Is there an actual complainant in this case? Who was harmed?
Ruling? I didn’t know there was a trial.
It’s not as if real estate values are listed daily in the WSJ. Often it’s worth what someone will pay for it. Then add in subjective amounts attributed to goodwill - this suit is another political attack, nothing more.
Michael Cohen says a lot of things. Don’t recall much of it panning out.
I can value my property at whatever I want. So can Trump. Where is the crime? The crime is the nasty full-of-herself NY AG. This isn’t over.
Michael Cohen is an “attorney” from what is probably the worst law school in the country. How he became Trump’s personal lawyer is unknown. And THIS is Trump’s greatest weakness, his belief in the GOOD in people. He wants to believe that they are loyal, but ignores red flags. I pray that he will surround himself with intelligent, loyal, trustworthy people of integrity and discernment.
If I recall, there are folks called “commercial real estate appraisers”.
I worked the residential side a long time ago.
One thing, that didn’t take me long to learn, if the bank or lender thought you were good for the money, they didn’t care how much you borrowed, asong as the appraisal was within established guide lines.
It’ll be interesting to see who they’re bringing in as witnesses. James’, civil servant county appraiser, or does Pres Trump call the banks/lenders appraisers where they’ll have to defend their work?
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.