Posted on 10/03/2023 1:04:16 PM PDT by ChicagoConservative27
For decades before his presidency, Donald Trump had long been synonymous with the real estate industry — as well as his namesake New York properties, which have been the subject of great discussion since last week.
That’s when a New York judge, Arthur F. Engoron of the state Supreme Court, concluded in a 35-page judgment that Trump had exaggerated the value of his holdings to secure favorable loan and insurance terms with financial institutions, with some properties being inflated by an estimated 1,000%.
Judge Engoron’s decision was issued as part of New York Attorney General Letitia James’s $250 million civil fraud case against the former president, his company and executives. And if that ruling ultimately stands, Trump could lose control over some well-known New York City and New York City-area properties that bear his name.
(Excerpt) Read more at nypost.com ...
The Justice System just seems to have decided that they want to take his stuff.
It’s a bit non-standard. Usually you need a reason. But it’s 2023 so anything goes.
The fact democrats aren’t embarrassed about having Attorney General Letitia James in their party tells you all you need to know about the democrat party.
Moreover, his banks are not naive individuals, they’re well-staffed institutions capable of making informed judgments of property values.
They are all (probably) NYC HQ’d and thus very well-informed about local real estate.
Selective prosecution. Wonder who many other developers have been investigated for the same “crime”.
Welcome to the Communist States of America..if Trump had a D next to his name the commie left would have adored him, built a statue in his honor, but because he went against them and the neocons, they want to not only put him in jail for the rest of his life they want to take every damn cent he’s ever earned..so whose going to stop them because we have a GOP that is allowing it to happen
ping
And he paid back all the loans.
That is pure pipe dream.
IN CALIF-—your property taxes are based on what you paid for your property.
1% of the sale price + and bond issues in the county the property is in.
Works out to about 1.25%
Same thoughts here.
They are ignorant, evil, Demonrat morons. No clue about how life works. Reprehensible fools. 🙄
Since tax revenues are based on appraised value, is NYC going to reimburse Trump for the overpayment? Yeah....I thought not....
Not a lawyer but a civil suit conducted by a public official is a new one.
Will become MLK Tower.
Nevermind how banks have and rely on their own property assessors, so fraud is not likely.
That’s how anyone with brains knows this is VS.
Unless that's maybe their goal: to lower property values so they can snatch some up.
hard to find a victim.
IF he overvalued the properties and I don’t see how that happened because the lender should have had their appraiser to a valuation; then the risk is he would default and the lender stuck with the property.
But according to Eric on FOX last night, they never missed payments So by now the structures should have increased value from the time they were financed.
Again hard to see who was victimized. Maybe some of the lenders will appear in trump’s defense.
A omrla judge would have thrown the case on on the fact tye ag and da campaigned to take him out.
The question is: Why?
Why go to the BIZARRE lengths they are going to, to stop him from running for POTUS, even going as far as trying to COMPLETELY ruin his life?
Does it have something to do with his claim that he "caught them all"?
What have THEY done?
What are THEY hiding?
🤔
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