Trump ordered to pay over $350M for business fraud

Biden - come’on man. (Red) China (The Chinese Communist Party whose 100 year plan is world domination) is our friend.

Wokeism is identity politics. Equality of outcome not opportunity.

 

LOL!!

Judge Engoron doesn't know the law, but Bill the legal whirling dervish does.

 

I encourage Alina Habbadabbadoo to make your arguments on appeal. LOL!!

 

LOL! Oh, Lord.

You need to read the thread.

 

63 is the statute explaining the AG's powers...lol

 

Engoron was not valuing the property. He compared the tax appraisal to Trump's value to show how entirely and absurdly at odds it is. Now, most understand that tax assessed and market values are going to be different. But a whopping $2,300% higher?

The easement restriction will of course impact market value. It is a property that can ONLY be used as a club, in PERPETUITY.

Would an identical neighbouring property with NO restrictions be worth the same, or more?

Trump values have ranged from $405 to $739 million. The most expensive property sold in the US, ever, was $240 million - a billionaire's NY penthouse.

Hence Trump's values are 70% to 200% higher than the most expensive property ever sold.

 

https://www.nysenate.gov/legislation/laws/EXC/63

C'mon, Bill.

 

She won.

 

Yes, it explains her powers to bring a cause of action for violations of Executive Law 63(12). The nature of those violations being explained in the same statute.

End result?

She brought a cause of action for violations of Executive Law 63(12).

From the cause of action:

"This conduct was in violation of New York Executive Law § 63(12)’s prohibition of persistent and repeated business fraud, which embraces any conduct that “has the capacity or tendency to deceive, or creates an atmosphere conductive to fraud.” People v. Northern Leasing Systems, Inc., 193 A.D.3d 67, 75 (1st Dep’t 2021). 5. These misrepresentations also violated a host of state criminal laws, constituting repeated and persistent illegality in violation of Executive Law § 63(12)".​

 

With a property that is 250% larger than the most expensive property ever sold.
And Mar a lago generates 23-25 million in revenue a year.
How much does that Penthouse generate in revenue a year? ZERO

Forbes August 2022
https://www.forbes.com/sites/danale...alm-beach-estate-under-siege/?sh=ba3cb235bed5
The year Trump announced his presidential run, sales jumped to an estimated $22 million. They continued to climb to an estimated $29 million the following year.
One of the most valuable homes in the world.

That $500 million figure, absurd at the time that the Trump Organization proposed it, suddenly became somewhat reasonable. Real estate experts outside of Palm Beach guessed that the place was worth more than $200 million. Brokers on the island thought it could be worth far more, with the most aggressive estimate coming in at $725 million. When Forbes last valued the property in March, we went with a conservative $350 million.

If a 24,000 sq ft penthouse with no property sells for 240 million, then whats a 25 million dollar annual revenue generating 62,500 sq ft property with 17 beach front acres in Palm beach worth? 18-30 million as the judge claimed stating Trump over valued the property by 2300%?

That judge is a corrupt political hack and it doesn't matter what that idiot claims Mar a largo is worth.

 

It is unfortuante that you cannot grasp the fact that the judge did not say it's worth $18-$28 million. It is perfectly clear that he was citing the TAX assessor's appraisals, for TAX purposes. He said Trump's values were 2,300% higher than the tax appraisals to illustrate the enormity of the difference between tax and asserted market values - far in excess of norms.

Forbes et al cannot value Mar-a-lago by non-comparables. Notably, unrestricted properties, penthouse included.

Mar-a-lago should properly be valued (as is the tax) by its highest and best use - as a club bringing in about $25 million p.a.

That's all the property can be used for.

Half a billion dollars or more for a club generating $25 million a year? I don't think so!

 

Nope. not even close.
Engoron claimed Trump exaggerated his value as much as 2300% which he compared to the tax assessment.
Did you just refuse to read ANY of the judges declarations?

Judge Arthur Engoron, in a pre-trial ruling declaring that Trump and his company engaged in fraud, found that he exaggerated Mar-a-Lago’s worth by as much as 2300 per cent, compared to the Palm Beach County tax appraiser’s valuations. They ranged from $US18 million to $US28 million.

If Trump exaggerated his property value by 2300%, that means he has to have a valuation to come up with that number.
And he used the Palm Beach tax assessment claiming thats the property value.

So what does that mean? Because there is nothing on the planet to compare Mar a lago too, then it has no value?
Just stop.
There are lots of things to compare value too.
Sq ft prices of local properties
Reconstruction cost.
Value of the actual property (acres) compared to current market price.

Trump trial turns to 2300% valuation of ‘breathtaking’ Mar-a-Lago
https://www.smh.com.au/world/north-...-breathtaking-mar-a-lago-20231206-p5epfd.html

False
A defence witness, Miami-based real estate lawyer John Shubin, testified on Tuesday that “there is absolutely no prohibition on the use of Mar-a-Lago as a single-family residence”. He noted that the property was simultaneously a club and Trump’s residence. Shubin also pointed to the 1993 agreement between Trump and the city that said Mar-a-Lago would revert to private residential use if the club were “abandoned”.

Palm Beach luxury real estate agents have told The Associated Press that the property would sell for $US300 million to $US600 million, and possibly $US1 billion or more if it sparked a bidding war among ultra-wealthy contenders.

Again, False, the property can be reverted to a private residence any time they want too.
But no idiot would do that just to pay 18 million in taxes per year.
It actually adds value to the property.
Because Mar a lago is a historical landmark, it QUALIFIES as a tax property on just revenue. That doesn't distinguish its value.

Nope, Half a billion dollars for a historical landmark, 62,500 sq ft, 17 acre ocean front property that also provides 25 million in revenue that can be reverted to a private residence when ever they want too.

 

@Condor060

I doubt that.

I reckon there will be plenty of posh buildings and over (ego driven) captialisations on land over which there are covenants restricting use, and especially right under the flight path into a very busy airport.

 

Not in NY where you can now be charged with bank fraud, when no bank is declaring they were defrauded so that corrupt judges can determine what your property value is and fine you more money that a small country makes.

But with the historical exit of tax payers from NY, I doubt they will have much luck with their new tax payer base being illegals.

 

I was referring, as you well know, to the value of Mar-a-Lago as was the subject of your comment.

 

Hey look we're giving the left credit here. They literally elected a bought and paid for AG, that sued a political opponent with NO PLAINTAFF that was defrauded and won because they found a wacko lefty judge that was bought and paid for and literally used tax values as property value. Whole new level of political mischief going on here. They didn't care about any repercussions other business would see in this tactic, nor did they care that anyone with a brain knows it's a stupid civil verdict only meant to hurt one person that literally changed the NY skyline. The reality they are making their opponent more popular, and this thing is getting overturned. But mad props this is some next level dirty politics. You searched and searched and couldn't even get the man for a criminal charge like jaywalking, so you pulled this?? Bravo, hope this doesn't come back to bite you, you dirty rascals.

 

Holy ****, are rightists still crying about this? Your mango hero lost........again. Man up and quit whining.

 

And I was referring to the actual ruling on the subject from a corrupt judge who just drove away hedge funds, investors, and real estate developers from NY.

 

It's not his job to give a flying flamingo about that or even allow it into his thinking.

 

What a novel legal theory, and now novel precedent.

But what wouldn't be novel, and what would be a no-brainer legal course for the FBI (if they actually served the people) at this point, would be to launch an investigation into election interference into the judge and Letitia in this case, and Fani and Wade in GA.

I'm not saying that any of them definitely committed a crime, but the outrageous nature of both cases, combined with the timing and prior adverse statements against Trump, definitely represent, at a minimum, probable cause for a warrant to seize all communications (phone/text/email/social media) related to Trump from all state actors involved in order to investigate any possible collusion or conspiracy to deny Americans their leading choice for President. In pursuance of what crime? Seditious conspiracy!

 

The state of NY has lost.

 

Pretty normal for leftist binary thinkers these days.
They aren't much for forethought.
They are so blinded by their hatred for Trump, they can't think of anything else.

Like charging the lead candidate in a presidential election with bank fraud, refusing him a jury trial, on an out of statute of limitations claim, when the bank claims they were never defrauded. Then ruling for a 355 million dollar settlement without a victim.

So not only did this idiot corrupt judge just run off every investor, investment bank, and real estate lender out of NY, but he showed the voters how corrupt the Democrat party really is, amassing even more support for Trump, and all for an illegal ruling that will never hold up on appeal.

Dumbest bunch anyone has ever seen.
But much appreciated.

 

REALLY?

How, have you got a link for that; I'm interested in reading up on NY's losses?

 

Look upthread. Businesses and individuals will be moving out and new businesses and taxpayers will not be starting up or moving in.

Abuse of the justice system has consequences.

 

You think it a healthy business environment when a judge is going to make it illegal for you to evaluate your own assets?
https://www.bitchute.com/video/C0LAPgaZY2U/