New York AG Sues Trump Family for Financial Fraud

Or menace, rob or even tickle?

 

'New York AG plans to call Trump and his adult sons as witnesses in upcoming $250M fraud trial'
Source: ABC News

September 28, 2023, 12:29 PM

"New York Attorney General Letitia James plans to call former President Donald Trump and his adult sons to the stand during their $250 million civil trial on fraud charges slated to start next week, according to a list of witnesses the AG has filed with the court.

In a pretrial ruling on Tuesday, a Judge Arthur Engoron ordered the cancelation of the Trump Organization's business certificates in the state after determining that Trump submitted "fraudulent valuations" for assets that were then used by himself, his eldest sons and his business to obtain better loan and insurance terms.

Still to be determined at trial is the question of what additional penalties Trump might face, as well as several causes of action included in the attorney general's suit. Trump is currently slated to be the government's second-to-last witness in the AG's case.

The attorney general's witness list also includes Trump's former lawyer Michael Cohen, Trump's daughter Ivanka Trump, co-defendants Allen Weisselberg and Jeffrey McConney, and multiple current and former Trump Organization executives. In total, the AG's office plans to call 28 witnesses to present their case, and also listed 25 additional witnesses they could use on rebuttal, according to the filing'.


Read more: https://abcnews.go.com/US/new-york-ag-plans-call-trump-adult-sons/story?id=103565222

 

Her "political" duty. Again what was the probable cause upon which she started this whole matter? Who claimed they were a victim of a fraud?

 

Probable cause? This was a civil case, not a criminal one. And she was easily able to prove it. The defense wasn't even able to deny the facts of the case. Deal with it.

 

You understand that there are different values on things, especially real estate?

Hey, this isn’t a dig at you, I like this site. They have some very good explanations, and I won’t say they are perfect, but this one is pretty good:

https://www.dummies.com/article/aca...value-on-the-real-estate-license-exam-161262/

 

Yes. Trump admitted he just made his up based on what he felt like. These kinds of valuations don't legitimately differ by over 2,000%. He can't deny that he just made the numbers up based on what was convenient for him.

And please be the first to explain how is apartment maaaaaaagically tripled in size when he needed it as an asset.

 

There’s no requirement for “someone” to claim to be a victim of Trump fraud. Quit making up your own elements of civil suits brought to remedy fraudulent conduct by businesses. People rely on businesses to have honest records to base decisions on.

 

Apologies for a second post on this, I missed my edit window after this popped in my head.

Since it has already been established that the owner of the club can live there as he is an employee of the club, whoever purchases the club can live there. They would have to own it all like Trump does, however. So it has a unique, value added item.

 

There are honest differences of opinion, and there’s fraud. Trump just made numbers up, and he outright lied.

“Bbbbbut where are the victims?” Everyone who relied on records to have a factual basis are victims.

 

Yep. As are the people who were being honest in their own records and didn't get loans because Trump passed them in line based on these false valuations.

 

Did George Soros and Hillary Clinton make her chase Trump down for fabrication of false documents used to obtain loans, etc.?

 

No apology needed.
Without Trump being the owner and holding all of his personal/ political events there the value would certainly decrease, be it as another social club or as a private residence.
Funny how the focus is on Mar a Lago's court value vs Trump's value of it when so many other properties are involved in the fraud lawsuit.
Trump Tower for example.

 

So why did trump agree it was worth 18-27 million?
Just because he can live there doesn’t change anything, it still can’t be developed

 

Even trump puts different values….on the same property lol

 

'Appeals court will not delay Donald Trump civil fraud trial'
Source: Reuters

September 28, 20233:58 PM EDT

'NEW YORK, Sept 28 (Reuters) - A New York appeals court on Thursday refused to delay Donald Trump's scheduled Oct. 2 civil fraud trial, after the former U.S. president accused the trial judge of wrongly refusing to throw out most of the case.

In a brief order, a five-judge panel of the Appellate Division, a mid-level appeals court in Manhattan, denied Trump's motion to postpone the trial. It also lifted a Sept. 14 order by Justice David Friedman to put the trial on hold while it considered Trump's motion. Friedman was part of Thursday's panel.

The panel ruled two days after state court Justice Arthur Engoron found that Trump and his family business persistently and fraudulently overvalued his assets and net worth in order to obtain better terms on loans and insurance. Trump had been sued in September 2022 by state Attorney General Letitia James, who accused him, his adult sons, the Trump Organization and others of "staggering fraud" in how they valued properties.

James is seeking at least $250 million in penalties, a ban against Trump and his sons Donald Jr and Eric from running businesses in New York, and a five-year commercial real estate ban against Trump and the Trump Organization. Lawyers for Trump and the other defendants were not immediately available for comment. James' office had no immediate comment.'

Read more: https://www.reuters.com/legal/appea...ay-donald-trump-civil-fraud-trial-2023-09-28/

 

That one item calls into question the judges judgement. Knowing there are different values and the banks were happy and paid, it seems ridiculous to claim MAL is only worth 18 mill when a much much smaller empty lot down the road is on sale for 200 million. Much smaller developed properties going for close to 80 million. I can see how that’s a questionable decision and can call into question his judgement abilities.

 

Judge said 18-27 million, which is also what trump had valued it to the county.

 

Don’t write him off for the election. His Republican boot lickers are doing everything they can to sway the public’s opinion based on lies and innuendo about Joe Biden.

It worked with Hillary. It may yet work to defeat Joe.

 

You are mixing two things. The value of the land is one thing. The value of the business as a going concern is something completely different.

 

Well, if yesterday's impeachment debacle is any indicator, they have a long long LONG way to go to....

In 2016, Trump was just a POS. In 2023, he's a proven loser (in every meaning of the word)... Hard to change that, especially since he's going to lose more before the next election...

 

What don't you get after repeated explanations that the judge has to use the numbers that Trump's social club is tax appraised at and Trump pays his yearly taxes on?

Every year Trump appeals his property tax amount to get it lowered.
The only way to get those taxes lowered is to dispute the current taxed amount and prove that the property is worth less then the current appraisal.

Show where Trump then submits numbers that Mar a Lago is worth a couple of hundred million.

The judge just can't go making-up numbers like Trump does.

btw: The 200 million priced property hasn't sold yet, yes?
Sure it's not one of Trump's adjoining pieces of property? lol

 

'Trump says Mar-a-Lago is worth $1.8 billion. Not long ago, his own company thought that was over $1.7 billion too high.'

snip:

"Mar-a-Lago is deed restricted as a private club. The deed itself is restricted, it can't be used for any other purpose, as such our office values it as we value the other private clubs in Palm Beach County," Haltermon Robinson said.'

'The method the county appraiser uses for a property like Mar-a-Lago is called the income approach, which reflects the club's finances.

"For the income approach, what we normally do is we request financial statements from individual businesses, and request income and expenses, so that we can kind of figure out what income we could use to capitalize the value," Haltermon Robinson said.

The year that Mar-a-Lago agreed with the appraiser about its $27 million valuation, Trump and the company listed it as worth $490 million on financial documents given to banks, according to the New York Attorney General.

It's not unusual to tell a bank that a property is worth more than its appraisal by the government, but the difference is rarely so vast, said Beracha.

"Usually when you speak to two well-informed parties, you do not see gaps like this in valuation," Beracha said. "If we're both experts, if we both know what we're doing, we're going to value that usually within a 10, 15, maybe 20% differential of each other, but not by thousands of percentages."

https://www.cbsnews.com/news/trump-mar-a-lago-1-8-billion-own-company-said-it-was-too-high/

 

With real estate, and depending on which valuation was used, it all gets put together as one item. MAL isn’t just a building. It’s quite a bit of land and buildings that have ocean front on two sides. In Palm Beach. And it has an income too. It’s a very unique item that can’t be worth only 18 million. That’s ridiculously low considering the prices in the area.

 

No he doesn’t HAVE to use that valuation. There are multiple types of valuations depending on what one is doing.

Not that I’m aware of. It’s listed on realtor.com.

 

Oh..ffs!

Fani Willis used Trump's own appraisal numbers and property taxes for each year from 2011-2021 on all of his properties.
The judge can't just re-write the history of the 2011-21 fraud indictments.
What Trump's properties are or aren't worth now means zilch.