"Trump and his company massively overvalued his assets, creating “a fantasy world” on the financial statements he gave to banks and others, Judge Arthur Engoron found in the lawsuit brought by the New York attorney general.
Why are you accepting the words of a hostile judge that found Trump guilty before the trial? The judge already had massively UNDER-estimated the value of Mar-a-Lago. His subjective opinion was that Trump's property values were overstated. Trump's companies routinely included a "brand premium" in their property valuations, which the Trump brand does carry and support. When they sold properties, they were routinely sold for MORE than they were on the books for. There is literally no proof of any over-statement of values.
"Trump’s Florida Mar-a-Lago club, for example, was overvalued on one financial statement by as much as 2,300%, the judge found."
Same as above. In the Mar-a-Lago example, the judge said it was worth only $18 million, while real estate experts valued it in excess of $1 billion. Vacant land in Palm Beach, running the full width from the inter-coastal to the ocean is worth more than $18 million.
"The former president also lied about the size of his Trump Tower penthouse apartment, claiming it was nearly three times its actual size and worth $327 million, according to the ruling.
Explained at trial - it was a 3-story apartment of 10,000 sq. ft. This was mistakenly taken to mean 3 10,000 sq. ft. floors, totaling 30,000 sq. ft. It was self-corrected long before the charges were brought.
The exaggerated picture of Trump’s wealth got him more favorable loan terms and lowered insurance costs, the attorney general argued.
The banks did their own due-diligence, applied their own valuations, and set lending rates accordingly. You'd have to explain further why you believe this got him more favorable loan terms. Likewise, you'd need to explain further why insurance costs would be lower on a higher valued property.
That discrepancy from a real estate developer describing his own longtime home “can only be considered fraud,” the judge wrote.
Again, why are you believing any of this rogue judge's musings?
He created false financial statements, he accepted loans on false terms that he lied to get, thus he defrauded companies out of money he would have had to pay. And that’s why the law is there."
See ALL of the above. NONE of what you say here is true.
“Why are you accepting the words of a hostile judge that found Trump guilty before the trial?”
I am not worried about what the judge said prior to the trial.
The evidence supported the verdict. At Mar-A-Lago, you are reading the real estate people’s estimates, not what the state is saying which is the legal determination. So why are you accepting a guesstimate from someone who doesn’t have the final say on the amount? The Palm Beach County tax appraiser’s valuations ranged from $18 million to $37 million depending on what is being evaluated. Top end $37 million is a whole lot less than $1 billion.
Mar-a-Lago’s property tax bill will be $602,000 this year, county records show. U.S. Rep. Jared Moskowitz, a South Florida Democrat, wrote the county saying if Trump claims Mar-a-Lago is worth $1 billion, he should be taxed accordingly. If Mar-a-Lago had a $1 billion assessed value, it’s property tax bill would be approximately $18 million. So Trump falsifies documents to make it a billion and gets taxed for approximately $18 million and you question the difference?
“NONE of what you say here is true.”
And all of what you say is your opinion. I quoted sources, not guessed based upon my party affiliation. Take the time to look up the numbers based upon what they were determined to be, and don’t forget he lied and misled on documents to the courts that you say were easily explained and never should have been turned in that was determined to be misleading the court, and he has got law problems. So far you’ve questioned the judge with using sources that are legally recognized and not real estate people who even said it wasn’t w2orth $1 billion, you probably didn’t know the actual tax amounts from ‘Florida, and you tell me I’m misinformed. Do your homework and find out facts rather than your opinion. And that’s where you should start.
wy69