re: Someone explain the Trump fraud case to me?

quote:

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If you misrepresent your income/employment/assets on a loan application you have committed fraud (subject to defenses). If the lender finds the "errors" and still issues the loan based on the correct facts you have still committed fraud. The fact the loans were paid back in full and on time does not matter in this case, further, it makes no difference that as a result of the former the banks did not suffer any damages, this is because it isn't the banks that are bringing the suit. This is a suit filed by the NY OAG in the name of the People of NY. In common law, this is called a Parens Patriae action. The public policy behind this is the people have a right to a fair marketplace. The codified basis for the suit is NY's Executive Law.

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Thanks. There are multiple issues not discussed

First - huge difference between misrepresenting and fraud

Second- did trump sign personally or on behalf of corporations? Or at all?

Third - if I tell you I have 10 gazillion dollars in assets and list them and you k ow that number but disagree and still give the loan, you have acknowledged you are basing the loan off of your numbers. So... No fraud