Posted on 11/23/2023 1:10:21 PM PST by thegagline
New York Attorney General Letitia James has been handed a "smoking gun" in the civil fraud case against Donald Trump, according to an attorney.
Jeffrey McConney, the Trump Organization's former corporate controller, testified on Tuesday that it was his understanding that Trump reviewed financial statements before they were finalized, contradicting previous testimony.
"This was probably the worst day for Donald in the New York City fraud case," attorney Joe Gallina said during an interview with Mary Trump, the former president's estranged niece. "This was very simply the smoking gun Attorney General Letitia James was looking for."
James filed a lawsuit against the former president alleging that Trump and executives at his company, including his adult sons, fraudulently inflated his net worth on his financial statements to secure favorable loans and insurance.
Judge Arthur Engoron, who is presiding over the case, ruled in September that Trump and other defendants engaged in fraud. The trial is to decide remaining claims of conspiracy, insurance fraud and falsifying business records, as well as how much damages the organization should pay. Trump has consistently denied any wrongdoing.
Lawyers for James' office on Tuesday presented McConney with a draft of Trump's net worth statement for 2014 that had a note in blue ink on the first page that said: "DJT TO GET FINAL REVIEW" and exaggerated his net worth by $3.5 billion, according to James.
Trump previously said he had little involvement in preparing the annual net-worth statements. In a pretrial deposition, he denied knowing who had written "DJT to get final review" on the 2014 draft.
"I can't think of a bigger smoking gun than having a fraudulent document, allegedly, that is what the state is saying, this document is the one that exaggerated Donald's worth by over $3.5 billion,"***
(Excerpt) Read more at msn.com ...
Sounds good. I'll loan you a billion dollars against your pencil.
And later, you've paid me back every penny with interest which is exactly what Trump did.
Where's the fraud?
The prosecution is relying upon the affirmation/ declaration clauses of the contract. This is where the signatory affirms that they have reviewed the document and declares that the foregoing was true, correct and complete. The IRS , for example, often relies upon this type of declaration in prosecuting tax fraud.
There is no fraud. No bank gave him a loan based on his figures. At least not a responsible loaner.
A podcast I listen to whose hosts are most certainly not fans of Trump even concede that this case is total BS. More, it sets a frightening precedent that's bound to backfire as the "fraud" Trump is accused of perpetrating is actually a very common practice in real estate.
As if evidence matters in her Kangaroo Court.
He said, she said! No proof.
“It’s a milestone for sure. It’s the 400th career-ending smoking gun they’ve found on DJT in just 8 years.”
WHY does anybody need a gun with 400 career-ending smoking bullets in the chamber?
Please, who wrote this release, Adam Schiff?
How could she not? Wouldn't that be the only thing that WOULD show up in the mirrors?
Instead of the “death by 1000 paper cuts” theme, it’s the prosecutorial pile-on (because they CAN) theme.
-- Lavrentiy Beria, chief of NKVD (Soviet Secret Police)
I understand your point - it’s just that I’d assume these aren’t simple documents and they did state “prepared” - which he didn’t.
Pretty much any executive could be found guilty of something then, especially if the court itself just gets to declare ‘fraud’ by declaring property estimates to be something other than specified.
...that said, ‘could’ equals ‘yes’ when used selectively, as in this instance - but that just highlights this lawlessness. That they could then do this to anyone is something we all need to think about.
“that it was his understanding”
YUP rock solid case law here boys, pack it up
Newsweek, another LEFT WING RAG.
DONT BELIEVE Newsweek.
Trump would have gotten loans on a number of properties.
In obtaining each loan, the loan would never be given out for more than the value of the individual property.
Since real property tends to rise in price over time, Trump’s wealth would tend to increase over time.
NYC commercial real estate is going through tough times now, but that obviously cannot continue. NYC government will have to clean up its act.
Meanwhile, golf course property is probably at an all-time high.
I live near a major highway in Florida.
Investors sit on commercially zoned land for decades until the available selling price pretty much reaches the maximum in real terms.
These investors know their trade.
Is this issue from 2014? The Statute Of Limitations on a chicken sh!t “crime” like this certainly must have ended a few years ago.
“A price target is an analyst’s projection of a security’s future price, one at which an analyst believes a stock is fairly valued.”
https://www.investopedia.com/terms/p/pricetarget.asp
“the Gordon Growth Model
attempts to calculate the fair value of a stock irrespective of the prevailing market conditions... If the value obtained from the model is higher than the current trading price of shares, then the stock is considered to be undervalued and qualifies for a buy, and vice versa.”
https://www.investopedia.com/terms/g/gordongrowthmodel.asp
“It was his understanding”……if Letitia James thinks that is legitimate witness testimony, her law school needs to be shuttered.
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