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Jon Stewart found to have overvalued his NYC home by 829% after labeling Trump’s civil case ‘not victimless’
New York Post ^

Posted on 03/27/2024 11:02:53 AM PDT by TigerClaws

Jon Stewart is facing online backlash after the comedian opined on air this week that Donald Trump’s civil real estate case for overvaluing his properties was “not victimless” — when it turns out the price of a previous home sale finds Stewart doing the exact same thing, The Post has learned.

___.

This has never been prosecuted,” O’Leary replied. In response, Stewart asked: “How is he not this mad about overvaluations in the real world?” “Because they are not victimless crimes,” he said. To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”

Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior. “The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.” But it didn’t take long for internet sleuths to look into Stewart’s own property history, which shows an overvaluation of his New York City penthouse by a staggering 829%, records confirmed by The Post show. In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records. But according to 2013-2014 assessor records obtained by The Post, the property was market-valued at only $1.882 million. The actual assessor valuation was even lower, at $847,174. .

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events; Politics/Elections
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To: TigerClaws

Assessments are a liberal scam. They assess low and use a high rate. That way they don’t have to go through the process and political minefield of raising taxes. The just raise the assessment.


61 posted on 03/27/2024 1:25:50 PM PDT by Revolutionary ("Praise the Lord and Pass the Ammunition!")
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To: FreeReign

“Trump’s final valuation was determined by the free market.
The borrower and the lender agreed to a valuation.

The same principle applies in the Stewart case.”

Trump didn’t sell. Stewart sold. Quit beating your dead horse.


62 posted on 03/27/2024 1:28:06 PM PDT by TexasGator
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To: TigerClaws
Apparently, New York State AG Letitia James accused Trump of lying on financial institution loan forms, by means of lying on supporting documents, attached to same.

The New York State penalty for lying on such forms (apparently by association between the forms and supporting documents):

$354,900,000

New York State Gov. Hochul tells everybody else: "Don't Worry."

- - -

September 21, 2022

Attorney General James Sues Donald Trump for Years of Financial Fraud

EXCERPTS:

NEW YORK – New York Attorney General Letitia James today filed a lawsuit against Donald Trump, the Trump Organization, senior management, and involved entities for engaging in years of financial fraud to obtain a host of economic benefits.

The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump, and Eric Trump, and senior executives at the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things.

From 2011-2021, Mr. Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions.

This conduct was in violation of New York Executive Law 63(12), which gives the Office of the Attorney General (OAG) special and broad powers to go after persistent and repeated fraud and illegality, which in this case includes violating other state laws prohibiting the submission of false financial statements, the falsification of business records, and the commission of insurance fraud.

As a consequence of these violations, OAG is seeking, among other relief, to:

1) permanently bar Mr. Trump, Donald Trump, Jr., Ivanka Trump, and Eric Trump from serving as an officer or director in any New York corporation or similar business entity registered and/or licensed in New York state;

2) bar Mr. Trump and the Trump Organization from entering into any New York real estate acquisitions for five years;

3) award disgorgement of all financial benefits obtained through the persistent fraudulent practices, estimated to total $250 million.

In conjunction with the lawsuit, OAG has referred the matter to the U.S. Attorney’s Office for the Southern District of New York and the Internal Revenue Service (IRS) for criminal investigation.

- - -

Deutsche Bank Executive Testifies Loan to Trump Wasn't Unusual - Bloomberg, November 28, 2023

David Williams, who worked on at least one of three loans Deutsche Bank made to Trump in the years before he was elected president, testified Tuesday that it’s “atypical, but not entirely unusual” for the bank to cut a client’s stated asset value by 50% and approve a loan anyway, as it did with Trump.

“Is the bank capable of reaching its own judgment based on the evaluation it makes of the guarantor’s financial condition?” Trump attorney Jesus Suarez asked Williams, a managing director at the German bank.

“Certainly, yes,” Williams said.

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63 posted on 03/27/2024 1:28:22 PM PDT by linMcHlp
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To: TigerClaws

I’m guessing there are lots of democrat donor real estate developers or investors that someone should put together a portfolio on, look at the valuations and the submit any anomalies to the media, publish online, and submit to the NY authorities. They may prosecute but will also be fun to watch them all get off Scott free for lack of prosecution and listen to the BS reasons they come up with not to.


64 posted on 03/27/2024 1:31:17 PM PDT by inchworm (al )
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To: bray

“ Looks like he was laundering money???”
*******************************

That’s what I thought. Same crap with all these multi-million dollar advance book deals that have minimum actual sales.


65 posted on 03/27/2024 1:31:38 PM PDT by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)
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To: TigerClaws

This guy went to William and Mary; he shouldn’t be this stupid.


66 posted on 03/27/2024 1:38:45 PM PDT by Free Louie
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To: TexasGator
Trump’s final valuation was determined by the free market.
The borrower and the lender agreed to a valuation.

The same principle applies in the Stewart case.”

The final valuation is determined by the free market.
The buyer and the seller agreed to a valuation.

Trump didn’t sell. Stewart sold. Quit beating your dead horse.

The same principles apply in both cases in a free market, buyers and sellers, borrowers and lenders. Pretty simple point.

One can lead a horse to water but one can't make him drink.

67 posted on 03/27/2024 1:39:46 PM PDT by FreeReign
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To: TigerClaws

Jon Stewart has always been a lying piece of dog excrement.


68 posted on 03/27/2024 1:43:19 PM PDT by kiryandil (what Odessa doink?)
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To: TigerClaws

Am I missing something? Stewart is complaining that Trump undervalued his property for tax purposes, but in Florida, the county tax appraiser determines the value, not the owner.

$17 million is a great return of investment on a less than $2 million dollar home, Mr. Stewart. It’s actually legal to make a huge profit on selling property in real estate. But you knew that already, didn’t you, Jonny-boy?


69 posted on 03/27/2024 5:27:12 PM PDT by skr (Righteousness exalteth a nation: sin is a reproach to any people. - Proverbs 14:34)
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To: Steve_Seattle

Democrats in power basing their actions on morals...a novel idea.


70 posted on 03/27/2024 5:33:08 PM PDT by skr (Righteousness exalteth a nation: sin is a reproach to any people. - Proverbs 14:34)
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To: TigerClaws

OMG! We can expect Letitia James to seek an indictment as soon as possible! No? Why not?!


71 posted on 03/27/2024 7:45:51 PM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized man.c)
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To: TigerClaws

Lock him up!


72 posted on 03/27/2024 8:23:55 PM PDT by TigersEye (Our Republic is under seige by globalist Marxists. Hold fast!)
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To: MrRelevant

Unreal, the more I read about this case the more I see how outrageous it is. My first thought when I first heard about it was “How can he scam a bank when they have appraisers?” It just didn’t make sense. And what drives me up the wall is every day I see leftists posting on the net “He is guilty of a crime guilty of a crime!! Criminal criminal!” Getting morons to think that was the whole objective of this. Why? To interfere in the election, to cripple Trumps campaign.

It’s absolutely outrageous, utterly infuriating and nobody helps him and this media can absolutely go to hell. Where are the investigative journalists today? They don’t exist.


73 posted on 03/28/2024 3:46:31 AM PDT by GrandJediMasterYoda (As long as Hillary Clinton remains free, the USA will never have equal justice under the law)
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To: TigerClaws

How about all them folks who have OBVIOUSLY overvalued the items they take to that Vegas pawn shop?

Toss ‘em in da BRIG!!


74 posted on 03/28/2024 8:26:20 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Labyrinthos
“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,”

Oh?

No government property assessors in NY state?

75 posted on 03/28/2024 8:28:56 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Revolutionary

yup!


76 posted on 03/28/2024 8:30:54 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: TigerClaws

Who thinks a 6000 square foot luxury penthouse in Manhattan can be bought for $1.8 million?


77 posted on 03/28/2024 8:51:35 AM PDT by Bubba Ho-Tep ("The rat always knows when he's in with weasels."--Tom Waits)
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To: Elsie

I don’t get your point.


78 posted on 03/28/2024 6:11:07 PM PDT by Labyrinthos
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To: Labyrinthos

I sure do NOT get to set the value of MY home in Indiana at tax time - it’s an appraiser’s job.

I also don’t get to set it’s value when I want insurance, either.

But I DO when I want to sell it!


79 posted on 03/29/2024 5:34:14 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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