Today's the day, don't get distracted: NY Civil Fraud Judgment due

[evoeth]

Trump awaits fate of business empire in New York civil fraud trial: Live updates Live updates!

Don't get distracted by the obvious lunacy of the War on Taylor Swift. Today, the goods are delivered.

 

[Brihaha]

Toxic corruption meets Lady Accountability.
May the judge survive. Donald Trump will come undone soon. His image is completely tarnished. He doesn't abide in truth, so he can face the consequences. $300,000,000 million fine is my guess.

 

[DaisyDay]

The retired judge appointed to monitor Trump Inc seems to have found a $48M ghost loan. There is booked a loan between Donald J Trump and and LLC set up for this limited purpose - however, the loan has never been serviced, no interest has been paid or charged, etc. Speculation is that his books had a $48M gap, so it was plugged with a bogus loan. This, if true, constitutes fraud.

So, we'll see - but that helps explain the brouhaha over LLCs created by Hunter Biden: we, MAGA reps, see fraud because that's the way we do it?

 

[Yeshua HaDerekh]

Trump awaits fate of business empire in New York civil fraud trial: Live updates Live updates!

Don't get distracted by the obvious lunacy of the War on Taylor Swift. Today, the goods are delivered.

What was the civil fraud? He got a loan, then paid the loan back with interest. Didn't he tell them to check the valuations given themselves? Sounds like he is getting framed for nothing. Sounds like this is a fraudulent trial...

 

[evoeth]

What was the civil fraud? He got a loan, then paid the loan back with interest. Didn't he tell them to check the valuations given themselves? Sounds like he is getting framed for nothing. Sounds like this is a fraudulent trial...

Remind me to never cut you a loan.

I love how trump supporters are constantly telling on themselves.

 

[JustOneWay]

What was the civil fraud? He got a loan, then paid the loan back with interest. Didn't he tell them to check the valuations given themselves? Sounds like he is getting framed for nothing. Sounds like this is a fraudulent trial...

He broke New York laws. You should read up on it.

 

[evoeth]

Update:

The verdict won't come until next week. Engoron is still working on it.

Trump's big NY fraud verdict won't come until next week: source

Arthur Engoron, the judge in former President Donald Trump's civil New York fraud case, is expected to issue a verdict on or around Monday.

www.businessinsider.com

 

[Yeshua HaDerekh]

He broke NY York laws. You should read up on it.

Really? In what way?

 

[Yeshua HaDerekh]

Remind me to never cut you a loan.

I love how trump supporters are constantly telling on themselves.

Can't you answer the question instead of snarky remarks?

 

[rambot]

Really? In what way?

Well, with your eyes....

 

[Yeshua HaDerekh]

Well, with your eyes....

Ohhhh...so cryptic...you can't answer either?

 

[rambot]

Donald J. Trump Pays Court-Ordered $2 Million For Illegally Using Trump Foundation Funds

It's tough to keeping track of a lying narcsissists misdeeds, so don't feel bad.

But just an FYI, a quick google search (or even go to duck duck go) and you can find pertinent information for most questions.

 

[Yeshua HaDerekh]

It's tough to keeping track of a lying narcsissists misdeeds, so don't feel bad.

Letitia James?

 

[Gene2memE]

Really? In what way?

Corporate fraud.

Specifically:

• Persistent and Repeated Business Fraud, New York Executive Law § 63(12)
• Falsifying Business Records, New York Penal Law § 175.10
• Issuing a False Financial Statement, New York Penal Law § 175.45
• Insurance Fraud, New York Penal Law § 176.05

The Trump Organization, and Trump himself, chronically misrepresented the value of assets and liquidity status.

They overvalued property estimates, in order to access favourable loan and insurance rates. They then turned around and made different estimates on the same properties when facing tax liabilities.

 

[Yeshua HaDerekh]

Corporate fraud.

Specifically:

• Persistent and Repeated Business Fraud, New York Executive Law § 63(12)
• Falsifying Business Records, New York Penal Law § 175.10
• Issuing a False Financial Statement, New York Penal Law § 175.45
• Insurance Fraud, New York Penal Law § 176.05

The Trump Organization, and Trump himself, chronically misrepresented the value of assets and liquidity status.

They overvalued property estimates, in order to access favourable loan and insurance rates. They then turned around and made different estimates on the same properties when facing tax liabilities.

OK finally someone gives an actual answer. Would that not be between the banks and Trump? Did the loan originators not do their due diligence? Did he pay all the loans back? The tax liabilities would be another story if true. I am sure he would have had tax attorneys and people who would handle such things, are they also on trial? People pay taxes not on what they claim but on what the State assesses it at.

 

[Arcangl86]

OK finally someone gives an actual answer. Would that not be between the banks and Trump?

No. 63 12 doesn't require a victim, simply the fraudulent act.

Did the loan originators not do their due diligence?

Doesn't matter.

Did he pay all the loans back?

Also doesn't matter.

The tax liabilities would be another story if true. I am sure he would have had tax attorneys and people who would handle such things, are they also on trial? People pay taxes not on what they claim but on what the State assesses it at.

My understanding is that the case actually didn't accuse any tax violations. The AG used the tax assessments as evidence he was falsifying records but didn't actually claim he didn't pay the taxes he needed to.

 

[Ceallaigh]

Update:

The verdict won't come until next week. Engoron is still working on it.

Trump's big NY fraud verdict won't come until next week: source

Arthur Engoron, the judge in former President Donald Trump's civil New York fraud case, is expected to issue a verdict on or around Monday.

www.businessinsider.com

Oh rats I stayed home from work for nothing. Gotta go put the champagne back in the fridge.

 

[Gene2memE]

OK finally someone gives an actual answer. Would that not be between the banks and Trump?

Not since the 1950s. Being a hub of corporate lending tends to mean New York takes a dim view about falsifying statements to get more favourable loan conditions.

Did the loan originators not do their due diligence?

Doesn't matter. It only matters that he, and others in the Trump Organisation, maintained a pattern of making false statements on financial records and loan agreements.

Did he pay all the loans back?

Doesn't matter.

The tax liabilities would be another story if true.

Yes, the Trump Organisation could face liability in New York and other jurisdictions. But, given the state of the IRS at the moment, I suspect that it will slide in preference for tax cheats which are less litigious and less public.

I am sure he would have had tax attorneys and people who would handle such things, are they also on trial?

Yes. His sons and the Trump Organisation CFO all testified. The latter already served five months jail time and received a large fine for tax evasion at the Trump Organisation. Even then, he got off lightly because he cooperated as a witness.

People pay taxes not on what they claim but on what the State assesses it at.

Yes, but you can't then reasonably turn around and report the same property is worth 2300% more than the State's assessed value. Or say inflate the square footage of a property by 30%.

 

[A2SG]

Yes, but you can't then reasonably turn around and report the same property is worth 2300% more than the State's assessed value. Or say inflate the square footage of a property by 30%.

Correction: 300%

"But on Tuesday, Mr Weisselberg said the apartment in Trump Tower measured some 10,000 sq feet ( 929sq m) - not 30,000 sq feet (2,787 sq m) suggested by financial records."

-- A2SG, just trying to help....

 

[Yeshua HaDerekh]

Not since the 1950s. Being a hub of corporate lending tends to mean New York takes a dim view about falsifying statements to get more favourable loan conditions.

Yes, but you can't then reasonably turn around and report the same property is worth 2300% more than the State's assessed value. Or say inflate the square footage of a property by 30%.

Again, if they are loans, anyone can "say" anything they want, the loan originators are responsible for due diligence. Much of this sounds like grandstanding by the Judge and AG.