Posted on 03/27/2024 11:02:53 AM PDT by 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.
“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.
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."
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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.
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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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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.
“ 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.
This guy went to William and Mary; he shouldn’t be this stupid.
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.
Jon Stewart has always been a lying piece of dog excrement.
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?
Democrats in power basing their actions on morals...a novel idea.
OMG! We can expect Letitia James to seek an indictment as soon as possible! No? Why not?!
Lock him up!
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.
How about all them folks who have OBVIOUSLY overvalued the items they take to that Vegas pawn shop?
Toss ‘em in da BRIG!!
Oh?
No government property assessors in NY state?
yup!
Who thinks a 6000 square foot luxury penthouse in Manhattan can be bought for $1.8 million?
I don’t get your point.
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!
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