re: Kevin O’Leary Explains to CNN Audience, NYC Case Against President Trump is Nonsense

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The law of fraud in NY doesn’t require the victims to complain or even suffer significant injury. It’s the act itself that meets the elements of the crime.

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What is the act itself here that is the crime?

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Either his business committed fraud or it didn't.

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It didn't. Obviously.

As O'Leary states, if this is fraud this would cause the collapse of the entire country.

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This is the price you pay when you organize an insurrection that has people trying to murder Mike Pence complete with gallows.

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I think your attempt at humor fell a tad flat there, Pimp.

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Delusion.

All of this will crush him in the actual election

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Wishful thinking or you're not paying attention

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If I speed and don't cause an accident I'm still breaking traffic laws

Either his business committed fraud or it didn't. Whether or not someone was the victim of that is immaterial.

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Plenty of people have called you out for your stupidity here, but it's worth repeating. This is a really dumb comparison. Speeding doesn't equate to the process of valuations any more than loitering relates to fraud. I know you're trying to tie in the idea of intent to break a law, but this is so tenuously applied that it's meaningless. And even in your example, unless there's a reckless element, it's a simple citation and fine if you're caught speeding... not even a misdemeanor, much less felony or fraud.

NC_Tigah and deeprig9 give good examples of how appraisals can differ from the perspective of owners, lenders, and government (who appraises for taxes), in ways that have nothing to do with fraud. So, despite the fact that signing off on a valuation as authentic always carries the warning to be accurate and not commit fraud, there is an understanding in the business world that perspective influences perceptions of value, thus requiring the need for due diligence on each side. There is an element of negotiation in such transactions.

Paying taxes might be an even better example. You sign off on your 1040 or whatever form every year knowing that it's criminal to misrepresent your income / asset value, etc. Yet, if you do misrepresent your assets, the IRS doesn't start with with a fraud charge. Even though you may have defrauded them and they will reserve the right to prosecute you at some point, when they audit you, they just charge you what you shorted them plus a penalty and interest. From the IRS:
accuracy related penalties
Outside of mobsters, the IRS never starts with a premise of civil or criminal charges with an intent to destroy a business as NY is trying to do here.

Like deeprig, I actually like some of your posts on other boards, but your hatred of Trump-- who I doubt has ever done anything to you-- is weird and irrational.

Actually i thought his answers could have been a lot better. Should have said, it's like any other asset, you have a value on it and then the bank tells you if the value is high or low in order to borrow against it.

He didn't say its the banks job or the lender.