Posted on 09/27/2023 1:37:51 PM PDT by Macho MAGA Man
A New York judge’s Tuesday ruling valuing Donald Trump’s sprawling, headline-making Florida estate at $18 million has left industry experts perplexed.
In his verdict, Manhattan Supreme Court Justice Arthur Engoron delivered a bombshell ruling that the former president committed fraud by inflating the value of his wealth, with details including the monetary value associated with Mar-a-Lago in Palm Beach.
This decision, which came down without a jury, has sent shockwaves through political — and real estate — circles, especially that $18 million base value for the property.
One prominent Palm Beach real estate broker, speaking on the condition of anonymity, told The Post, “It’s utterly delusional to think that property is only worth $18 million.”
The insider added, “If that property were on the market today, I would list it at around $300 million, minimum … at least. He also has the separate golf course minutes away.”
Engoron’s verdict holds Trump, 77, along with his family and his business empire, the Trump Organization, liable for fraud — a central allegation in New York Attorney General Letitia James’ lawsuit against the defendants.
In a 35-page judgment, Engoron sided with James, asserting that Trump had made unequivocally false statements in official documents to secure favorable terms with financial institutions.
Notably, Trump’s claims, such as his triplex penthouse in Trump Tower being 30,000 square feet when it was closer to 11,000, were also described by Engoron as “fraudulent” given their significant discrepancies.
However, the ruling raised eyebrows when Engoron, a Democrat who ran unopposed in the general election on Nov. 3, 2015, evaluated the worth of Trump’s prized Mar-a-Lago Club resort at $18 million, ruling that the property was inflated by 2,300%.
(Excerpt) Read more at nypost.com ...
Possibly a dumb question.... Who is the victim in this fraud case?
A judge cannot put a value on property..not legally.
Another question....How does a NY judge have anything to do with a property in Florida?
“i wonder what the real estate assessment says.”
Trump should file an immediate appeal with the County Clerk demanding a refund of all the property taxes he’s paid over the years.
See how they like that.
L
Tossed in there is usually a real estate appraisal if the buyer is going to finance anything.
>>For tax purposes there should be a public on-the-record valuation of that property.
“From 2011-2021 the Palm Beach County Assessor appraised the market value of Mar-a-Lago at between $18 million and $27.6 million. NYSCEF Doc. No.905.”
evaluated the worth of Trump’s prized Mar-a-Lago Club resort at $18 million, ruling that the property was inflated by 2,300%.
How much did Limbaugh’s wife sell his house for?
The judge
Watch me pull a number out of my hat
He is not in the position to determine value.
Indeed
>>It was a deal between private parties. None complained, none brought suit. All loans were paid back. And if local Florida government entities had a problem, they could easily re-value the property, could have taken Trump to court at any time over the past decades, or changed their tax laws.
According to NY State Law, lying on a Statement of Financial Condition is an offense by itself without any intent to defraud.
See bottom of page 20 of https://www.courthousenews.com/wp-content/uploads/2023/09/trump-james-summary-judgment-new-york-supreme.pdf
The judges must have been paid big bucks by Dem supporters to make their rulings regarding Real Estate Appraisals. They are not qualified and will lose on appeal.
Find out the insurable values for the properties. That should set the upper limits.
In my county, anyone can do a property search and see what the county values a property at for taxing purposes. I bet the Judge can ask Palm Beach County what they put for a value.
They dont..the prick just made up a number so that it looks like Mar A Lago isn’t worth what he claims it does. Just look at Mar A Lago, I dont need Trump to tell me what its worth I can see that for myself
Has the STATE Filed Criminal Charges against this Judge for Issuing a “Real Estate” appraisal without being LICENSED by the State to do so?”:??
https://dos.ny.gov/system/files/documents/2022/03/re-appraiser-3-21.pdf
$18 million wouldn’t cover the cost of the china, silver, glass and linens. The Big Four of Hotels.
No.
Can’t enforce his unconstitutional BS.
It still MEANS NOTHING. His bank and insurance counterparts and he decided the value.
to push the idea a NY State judge can decide the value 20 years later, and then declare the deal somehow invalid or illegal - is simply stupid.
We should use this same measure of fraud on the US Federal Reserve. They have just recently given $$ hundreds of billions to banks, paying then 100% of face value on bonds they are holding which in fact have declined by 40-50% in value.
Not going to hapoen
For a comp, Rush Limbaugh’s estate which is up the street from Mar a Lago sold this year for $155 million and was not as grand as Mar a Lago. $500 million is a good estimate.
There is only one solution at hand. It does not including living with these commies.
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