Trump Ordered to Pay $355 Million and Barred From New York Business

Of course it did.

If the bank loaned more money than what the judge thought the property was worth, then the bank made more money on interest and principal on the loan.

LoL leftists really don't think things through, do they.

 

Which doesn't negate the fact that trump committed fraud no matter how much you want it to.

 

It absolutely negates it.

Victims of fraud don't profit from fraud.

You have no victim of fraud, which makes both your argument and the charges against Trump the only fraud in this discussion.

 

Don't need a victim, trump broke the law. If you break the law you should be punished right?

 

Are you suggesting that it is ok for people seeking loans to significantly and knowingly exaggerate assets to seek better terms i.e. more money, lower interest rates?

 

If the bank agrees to it, and the debt is repaid in full with no fraud?

Thats how loans work.

 

Of course fraud requires a victim.

https://www.bochettoandlentz.com/criminal-fraud-vs-civil-fraud-whats-difference/

Whether criminal or civil, fraud generally has several legal elements, including the following:

• Misrepresentation of a material fact
• Knowledge on the part of the accused that they were misrepresenting the fact
• The misrepresentation was made purposefully, with the intent of fooling the victim
• The victim believed the misrepresentation and relied upon it
• The victim suffered damages as a result of the misrepresentation

https://www.journalofaccountancy.com/issues/2004/oct/basiclegalconcepts.html

WHAT CONSTITUTES FRAUD
Under common law, three elements are required to prove fraud: a material false statement made with an intent to deceive (scienter), a victim’s reliance on the statement and damages.

https://www.ecfr.gov/current/title-...ject-group-ECFRe56258878b60727/section-453.12

§ 453.12 Meaning of fraud or dishonesty.
The term “fraud or dishonesty” shall be deemed to encompass all those risks of loss that might arise through dishonest or fraudulent acts in handling of funds as delineated in §§ 453.8 and 453.9. As such, the bond must provide recovery for loss occasioned by such acts even though no personal gain accrues to the person committing the act and the act is not subject to punishment as a crime or misdemeanor, provided that within the law of the State in which the act is committed, a court would afford recovery under a bond providing protection against fraud or dishonesty. As usually applied under State laws, the term “fraud or dishonesty” encompasses such matters as larceny, theft, embezzlement, forgery, misappropriation, wrongful abstraction, wrongful conversion, willful misapplication or any other fraudulent or dishonest acts resulting in financial loss.

 

Doesn’t matter! Fraud in and of itself is a Crime

if an ordinary person lied to the bank they would be prosecuted, if you lied to the bank and on your taxes you would be prosecuted.

 

Errrr no,

Two evaluations - one for the bank and one for the tax man

 

Then he can appeal - simple!

 

In other words you have nothing backing up your claim. Got it.

 

I'm quite sure even you don't believe that piece of nonsense. If I'm not mistaken the son of a Dem prez has been charged on matters rarely if ever prosecuted by a Repub SC. While a Repub SC declined to charge the son of a Repub prez using a bogus rationale, ignorance of the law.

 

Following a three-year investigation, in September 2022 Attorney General James filed a lawsuit against Donald Trump, a number of Trump Organization companies, and senior executives for engaging in years of financial fraud and illegal conduct. In September 2023, before this trial began, Justice Engoron issued a ruling granting Attorney General James' motion for partial summary judgment, finding that Donald Trump and the defendants committed fraud by falsely inflating the value of his assets. Today’s decision and order that Donald Trump and the other individual defendants also engaged in illegal conduct and that relief against the defendants is necessary to prevent further fraudulent and illegal conduct comes after 11 weeks of trial, which concluded with closing arguments last month.
https://ag.ny.gov/press-release/202...stigation,financial fraud and illegal conduct.

I hope you are advising his attorneys who will be filing the appeal.

 

You mean on top of committing fraud and various illegal acts, Trump was involved with the mafia too?

 

Lying to the bank is NOT ok. Perhaps it's a right wing thing ...

 

Can Trump afford to pay?

Trump’s company isn’t public, and he has famously refused to disclose his tax returns, so his cash flow situation is shrouded in mystery. Even if he has $440 million in cash on hand — and it’s far from clear that he does — paying the judgments could wipe out his accounts, since Trump himself has placed his cash reserves in the ballpark of that amount.

Trump claimed in a deposition last year that he had “substantially in excess” of $400 million in cash on hand. “We have, I believe, 400 plus and going up very substantially every month,” he said, adding: “My biggest expense is probably legal fees, unfortunately.”

But it’s unclear whether that number is accurate. That deposition, after all, was part of the very lawsuit in which a judge found that Trump has repeatedly inflated his net worth. If he doesn’t have enough cash on hand, would he have to sell properties?
https://www.politico.com/news/2024/02/16/trump-civil-judgments-what-to-know-00142034

If you have a piggy bank it may be time to break it open and donate heavily to the orange conman.

 

Which is has nothing to do with the fact that in this instance the case brought against Trump is little more than a legal fraud in and of itself.

 

He didn't whatever a judge ignorant of how commercial real estate is done in this country and most others may think.

 

Because the tax statement are different than the bank statements are not proof of fraud. They are in fact only proof that property tax valuation as Florida state property tax commission itself says at its web site not representative of the actual value of the property in question.

 

It is possible that an appeals court will disagree with the degree of punishment Engoron doled out to the Trump crime family. But there is ample evidence to support the judge's summary judgement based on the evidence AG James presented. An equally pressing question for Don in terms of impact is the ruling on his banishment, and that of his son's, to head up the Trump Org. in NY. Also, the ruling that he can't borrow money from a NY based financial institution.

Maybe Barron can take over with daddy pulling the strings in the background like he did when he pretended he wasn't running the biz during his presidency.

 

You're using Hunter Biden as a counter argument?...lol

 

The interest rate the banks charge is based on the credit worthiness of the borrower or in Trump's case the value of his properties. Overly inflating property values means he got a better interest rate than he ordinarily would, thus leaving the bank as a victim of fraud.
More broadly, Engoron sought to protect the integrity of the marketplace in what is still the financial capital of the world. A marketplace purposely distorted by Trump's fraudulent practices.

 

Did my post confuse you? It's pretty straight forward.

 

Oh, I picked up on your assinine comparison right away.

Back to an earlier question: how much of the $350 million will the victims in this case receive?

 

The bankers Trump dealt with have already testified that they had things in check...

https://apnews.com/article/donald-t...aud-new-york-364d1052f98816121000c26dc66f3878