Judge rules Donald Trump defrauded banks, insurers while building real estate empire (ethics, crimes)
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Lying on any financial forms which requires ones attestation of truth and accuracy is still…..
FRAUD
Who is the victim? If the bank accepted Trump's numbers and charged him interest rates and Trump paid them back, again where is the fraud. You need a victim and negative numbers for the victim. Democrats crack me up but then again they feel capitalism is a crime on itself.
Who is the victim? If the bank accepted Trump's numbers and charged him interest rates and Trump paid them back, again where is the fraud. You need a victim and negative numbers for the victim. Democrats crack me up but then again they feel capitalism is a crime on itself.
Bogus lawsuit. Who is the victim? The banks had no problem with the numbers since they have to do their own appraisals and dictate the interest rates to be pay back which Trump paid back with interest. So again, who is the victim? Democrats have turned country into a banana republic.
To be clear the suit is civil not criminal as it is a civil crime. The issue presented is the defrauding of banks, insurers, barrowers, and clients/buyers who took on an increase in risk due to being misled, which sometimes did lead to losses. The state is seeking 250million in damages on their behalf as well as to terminate trumps LLCs so he cannot do it again.
It may be a political tool, or he pissed too many off... either way its not bogus... he just doesnt have the right friends to avoid the issue anymore.
I seriously encourage anyone interested to skim the judgment. Page 21 has a footnote quoting the Marx Brothers. This is after the clowns tried to argue that square footage was "subjective".
LOL -- so Trump exaggerated the values when seeking loans, but then he minimized the values for tax purposes. What a stellar guy! NOT...he. is. a. criminal.
And are YOU a banker? Prey tell... by the way, it's "ridiculous" and so it is.
I dealt with banks for years. I sold 5 properties and my wife's side of the family a lot more since they ar in the real estate business. I also sold cars for more value than the blue book stated and the bank approved it because I backed it up and the buyer agreed.
Who is the victim? If the bank accepted Trump's numbers and charged him interest rates and Trump paid them back, again where is the fraud. You need a victim and negative numbers for the victim. Democrats crack me up but then again they feel capitalism is a crime on itself.
You are really reaching here. You sign a contract that says the information you provided is true. Trump committed fraud for years and now you trying to say it is acceptable. I bet you defended ENRON also.
LOL -- so Trump exaggerated the values when seeking loans, but then he minimized the values for tax purposes. What a stellar guy! NOT...he. is. a. criminal.
You know the higher is the value the higher taxes and higher payments for interest rates he paid. So if the bank agreed with the value and they got paid back with the interest rates they picked, so who is the victim?
Bogus lawsuit. Who is the victim? The banks had no problem with the numbers since they have to do their own appraisals and dictate the interest rates to be pay back which Trump paid back with interest. So again, who is the victim? Democrats have turned country into a banana republic.
Very simplified version:
The way it works is you overstate the value of your property and proposed development.
The banks only going to finance some part of that, say 40% of the value as backed by colleteral.
You bring in 3 other investors and and have each of them invest for 20% of the development's value.
The other investors don't talk to each other thanks to the NDA they signed.
After the development is is moving along, or at or nearing completion, you declare the development has failed, which is easy to do because the initial valuation was way overstated. You declare bankruptcy.
Everyone loses their investment, and your other shell company buys the development at pennies on the dollar.
variation 2:
You overstate the value, the bank puts in 40%, and three other investors (NDA again) put in 40% each.
You've got 160% of the value, declare bankruptcy because no way can you repay those investor's 160%
keep the change.
Trump is the only guy charged, while the rest of the big financial guys who did the same juggling are overlooked. Because its Trump, it is the crime of the century.
Charge is more ropa dope to bleed trump's cash and tie him in legal knots to prevent him from running.
Will be overturned.
The teflon don is biden.
Poor little Orange Guy...your defense of him is very touching. I may feel sorry a little after I stop laughing. Seriously, this is no laughing matter -- you guys keep defending a man who is a proven con man and a traitor. Just because you don't believe it doesn't make it false.
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