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Started By
Message
re: So in this civil Trump trial
Posted on 11/6/23 at 1:03 pm to Nosevens
Posted on 11/6/23 at 1:03 pm to Nosevens
quote:
Judge absolutely made a valuation on Trump’s MAL property. He appraised it at 18 million. Judge supposedly does appraisals on a side
No he didn't. He commented that the Palm Beach County property appraiser determined that it was worth between 18 and 27 million depending on the year of the appraisal.
quote:
New York Supreme Court Judge Arthur Engoron’s Sept. 26 ruling stated that from 2011 to 2021, the Palm Beach County property appraiser determined Mar-a-Lago’s value was "between $18 million and $27.6 million." But Trump’s statements of financial condition presented to investors stated that it was worth between $426 million and $612 million, "an overvaluation of at least 2,300%" Engoron wrote.
LINK
2
Posted on 11/6/23 at 1:08 pm to fwtex
“The process is the punishment”
Posted on 11/6/23 at 1:09 pm to cadillacattack
quote:
“The process is the punishment”
Funnily enough, the Nazis, Jihadists and Communists used this very philosophy.
Our Democrat friends learn quick.
Posted on 11/6/23 at 1:14 pm to RedStickFox
Appraisal amount by an assessor is not the same as actual value.
Ask people in Orleans Parish what their houses are valued at vs what the assessor said.
Ask people in Orleans Parish what their houses are valued at vs what the assessor said.
Posted on 11/6/23 at 1:14 pm to RedStickFox
So again, you are saying the judge has a better judge of real estate than the actual person making the loan or the person doing the appraisal. Either of those both have to be true for this trial to even be held.
Posted on 11/6/23 at 1:32 pm to RoosterCogburn585
In the Judges eyes and the Attorney General ......yes
Both should be disbarred over this ....
Both should be disbarred over this ....
Posted on 11/6/23 at 1:44 pm to RoosterCogburn585
quote:
So again, you are saying the judge has a better judge of real estate than the actual person making the loan or the person doing the appraisal.
The judge didn't do the appraisal. What part of this are you not understanding?
quote:
New York Supreme Court Judge Arthur Engoron’s Sept. 26 ruling stated that from 2011 to 2021, the Palm Beach County property appraiser determined Mar-a-Lago’s value was "between $18 million and $27.6 million." But Trump’s statements of financial condition presented to investors stated that it was worth between $426 million and $612 million, "an overvaluation of at least 2,300%" Engoron wrote.
LINK
Posted on 11/6/23 at 1:46 pm to teke184
quote:
Appraisal amount by an assessor is not the same as actual value.
At no point in time did I say that the appraisal amount is the actual value. I'm merely demonstrating that all of the people saying the judge is the one who came up with the 18 million number are either mistaken or lying. He didn't come up with the number. It was an appraisal.
Posted on 11/6/23 at 1:50 pm to RoosterCogburn585
quote:
who's never been in the banking/lending industry, is a better judge of value?
You can't fill in your own numbers---try it then you find the banks are not THAT bad.
Don't tell a bank you have a 30k sq ft penthouse and the
IRS a 10k Sq ft.
He's a fraud I bet you Trump Taj Mahal on it
Posted on 11/6/23 at 2:02 pm to RedStickFox
Direct quote from a news story:
"The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump, and Eric Trump, and senior executives at the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things. "
So the CLAIM is that the courts and judges know more about real estate than the actual companies doing the lending and valuing. That is exactly what they are saying. You can't just claim some made-up worth to a bank. That's not how things work in the real world...
Ask yourself this question honestly, if you can. Do you honestly believe the banks loaned the man money based on his word and own valuation without doing any kind of due diligence? If the answer is no, then the case should be tossed out immediately...
"The lawsuit alleges that Donald Trump, with the help of his children Donald Trump, Jr., Ivanka Trump, and Eric Trump, and senior executives at the Trump Organization, falsely inflated his net worth by billions of dollars to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, to induce insurers to provide insurance coverage for higher limits and at lower premiums, and to gain tax benefits, among other things. "
So the CLAIM is that the courts and judges know more about real estate than the actual companies doing the lending and valuing. That is exactly what they are saying. You can't just claim some made-up worth to a bank. That's not how things work in the real world...
Ask yourself this question honestly, if you can. Do you honestly believe the banks loaned the man money based on his word and own valuation without doing any kind of due diligence? If the answer is no, then the case should be tossed out immediately...
This post was edited on 11/6/23 at 2:12 pm
Posted on 11/6/23 at 2:11 pm to RoosterCogburn585
But that’s the thing…. the company doesn’t know any better. As of last week, Trump Org executives Don Jr and Eric Trump testified under oath to have no knowledge of the statements of financial condition.
Mazars USA already informed Trump Org that they and any recipients can’t rely on the statements of financial condition.
Nobody is claiming to have more knowledge…
Mazars USA already informed Trump Org that they and any recipients can’t rely on the statements of financial condition.
Nobody is claiming to have more knowledge…
Posted on 11/6/23 at 2:13 pm to AGGIES
I guess I need to find some of these banks that are just handing out money to everyone based on whatever value you say.
Makes you wonder how they even stay in business just handing money out all willy-nilly.
Makes you wonder how they even stay in business just handing money out all willy-nilly.
This post was edited on 11/6/23 at 2:14 pm
Posted on 11/6/23 at 2:14 pm to RoosterCogburn585
quote:
the judge essentially saying that the banks are terrible at their jobs and he, who's never been in the banking/lending industry, is a better judge of value?
Posted on 11/6/23 at 2:17 pm to NC_Tigah
Has the court or judge even said what the correct valuation should be? Or is it more along the lines of Trump and the lenders agreeing to a valuation and the judge saying "Nuh-uh"?
Posted on 11/6/23 at 2:18 pm to RoosterCogburn585
Do you know what does not happen every day? Accounting firms and executives of that company claiming to have no responsibility for the contents of the financial statements.
Posted on 11/6/23 at 2:18 pm to Vacherie Saint
quote:
Michael Jordan listed his Chicago mansion for 29MM 2 decades ago and it still sits, unsold and abandoned.
Are we going to throw MJ in jail too?
This is the dumbest thing I've ever heard
Posted on 11/6/23 at 2:20 pm to AGGIES
And that's Trump's fault exactly why? If you want to charge the man with fraud then do it. But don't make up some bullshite claim that the banks didnt know how much stuff was worth and just took his word for it.
And if not claiming responsibility is a crime, why arent they on trial as well?
And if not claiming responsibility is a crime, why arent they on trial as well?
This post was edited on 11/6/23 at 2:22 pm
Posted on 11/6/23 at 2:21 pm to RoosterCogburn585
quote:
So the CLAIM is that the courts and judges know more about real estate than the actual companies doing the lending and valuing.
No. The claim is that the trump org lied on documents. They raised and lowered values depending on how it helped them. They put the names of appraisers next to amounts even though the person never appraised the property. They even falsified the square footage of properties so they could squeeze out extra net worth.
You can't just lie on financial documents. Even if it was just simply the prices, that's bad enough. But forging appraisals from professionals and putting false dimensions makes it even more obvious they were being nefarious with this.
LINK
LINK
quote:
Larson, a real estate brokerage executive and certified appraiser, assessed Trump properties for lenders. He was taken aback when told on the stand that he was repeatedly cited as an outside expert in former Trump Organization controller Jeffrey McConney ’s valuation spreadsheets.
“It’s inappropriate and inaccurate,” Larson testified. “I should have been told, and an appraisal should have been ordered.”
Posted on 11/6/23 at 2:23 pm to RedStickFox
So the judge and courts were able to find this, but the banks who actually loaned the money for YEARS didnt?
Posted on 11/6/23 at 2:23 pm to RoosterCogburn585
Fraud is what Trump Org is charged with in this civil trial
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