Judge rules Donald Trump defrauded banks, insurers.

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Judge rules Donald Trump defrauded banks, insurers.

#1

Post by Reservoir Dog »

A judge has ruled that Donald Trump committed fraud for years while building the real estate empire that catapulted him to fame and the White House.

Judge Arthur Engoron, ruling Tuesday in a civil lawsuit brought by New York’s attorney general, found that the former president and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

The decision, days before the start of a non-jury trial in Attorney General Letitia James’ lawsuit, is the strongest repudiation yet of Trump’s carefully coiffed image as a wealthy and shrewd real estate mogul turned political powerhouse.

Beyond mere bragging about his riches, Trump, his company and key executives repeatedly lied about them on his annual financial statements, reaping rewards such as favorable loan terms and lower insurance premiums, Engoron found.

Michael R. Sisak, The Associated Press
https://ca.yahoo.com/finance/news/judge ... 28091.html
https://www.forbes.com/sites/alisondurk ... a449e84565
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Re: Judge rules Donald Trump defrauded banks, insurers.

#2

Post by FSchmertz »

The thing that's really going to get him, and hit him in the bank account, is how these same properties suddenly then decreased in value when it came to tax time.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#3

Post by dot »

I have it on good authority that because this does not make any sense at all, it means absolutely nothing.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#4

Post by FSchmertz »

dot wrote: Tue Sep 26, 2023 9:43 pm I have it on good authority that because this does not make any sense at all, it means absolutely nothing.
And besides the point, they're ALL Democrats and clearly out to get the beloved leader Trump! ;)
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Re: Judge rules Donald Trump defrauded banks, insurers.

#5

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Image
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Re: Judge rules Donald Trump defrauded banks, insurers.

#6

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BTW, he didnt rule anything. It was a motion for summary judgement, which is not a trial
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Re: Judge rules Donald Trump defrauded banks, insurers.

#7

Post by Reservoir Dog »

Biker wrote: Tue Sep 26, 2023 10:03 pm BTW, he didnt rule anything. It was a motion for summary judgement, which is not a trial
Yeah, the trial starts next week. :lol:
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Re: Judge rules Donald Trump defrauded banks, insurers.

#8

Post by FSchmertz »

The trial is going to be over intent and penalties (the $250 million sued for a banishment from NY business etc.).

After this summary judgement, it's really hard to imagine this judge doesn't already have an opinion on intent. So likely it's just how severe the penalties will be.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#9

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Reservoir Dog wrote: Tue Sep 26, 2023 10:07 pm
Biker wrote: Tue Sep 26, 2023 10:03 pm BTW, he didnt rule anything. It was a motion for summary judgement, which is not a trial
Yeah, the trial starts next week. :lol:
No kidding, which means only that there is sufficient evidence to move forward with the trial
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Re: Judge rules Donald Trump defrauded banks, insurers.

#10

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FSchmertz wrote: Tue Sep 26, 2023 10:09 pm it's really hard to imagine this judge doesn't already have an opinion on intent
Which is the exact way it shouldnt be, but I suppose if its a means to an end, so be it
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Re: Judge rules Donald Trump defrauded banks, insurers.

#11

Post by FSchmertz »

This was apparently in the judgement:
ORDERED that any certificates filed under and by virtue of GBL § 130 by any of the entity defendants or by any other entity controlled or beneficially owned by Donald J. Trump, Donald Trump, Jr., Eric Trump, Allen Weisselberg, and Jeffrey McConney are canceled; and it is further

ORDERED that within 10 days of the date of this order, the parties are directed to recommend the names of no more than three potential independent receivers to manage the dissolution of the canceled LLCs; and it is further

ORDERED that the Hon. Barbara S. Jones (ret.) shall continue to serve as an independent monitor of the Trump Organization until further Court order
So apparently his businesses in NY are being canceled?
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Re: Judge rules Donald Trump defrauded banks, insurers.

#12

Post by Reservoir Dog »

The next round of Trump "campaign donation" e-mails are going to be a hoot! :lol:
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Re: Judge rules Donald Trump defrauded banks, insurers.

#13

Post by Biker »

The same judge stated that Mar-a-Lago is only worth 18 million :lol:

Its a kangaroo court, with a judge who has his marching orders.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#14

Post by Reservoir Dog »

Biker wrote: Tue Sep 26, 2023 10:49 pm Its a kangaroo court, with a judge who has his marching orders.
Yeah, fuck all that actual evidence, right? :lol:
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Re: Judge rules Donald Trump defrauded banks, insurers.

#15

Post by saltydog »

Animal must be perplexed.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#16

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Biker thinks that judge in the Mar-a-largo case is a-ok too, I suppose.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#17

Post by Animal »

FSchmertz wrote: Tue Sep 26, 2023 9:19 pm The thing that's really going to get him, and hit him in the bank account, is how these same properties suddenly then decreased in value when it came to tax time.
and see, i have not heard one thing about that case. that's the one that i would think would have some meat on the bone. not this one, which just seems like an indictment against whatever accounting firm prepared his P&L and balance sheets that were provided to get loans.

and i would really like to hear someone explain to me how "over inflating the value of your assets" leads to cheaper insurance rates? that one has me stumped. I'm sure its right because its literally mentioned every single time this case is spoken on the news, but I just don't understand how that would work.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#18

Post by saltydog »

Animal wrote: Wed Sep 27, 2023 12:37 am
FSchmertz wrote: Tue Sep 26, 2023 9:19 pm The thing that's really going to get him, and hit him in the bank account, is how these same properties suddenly then decreased in value when it came to tax time.
and see, i have not heard one thing about that case. that's the one that i would think would have some meat on the bone. not this one, which just seems like an indictment against whatever accounting firm prepared his P&L and balance sheets that were provided to get loans.

and i would really like to hear someone explain to me how "over inflating the value of your assets" leads to cheaper insurance rates? that one has me stumped. I'm sure its right because its literally mentioned every single time this case is spoken on the news, but I just don't understand how that would work.
This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#19

Post by Animal »

saltydog wrote: Wed Sep 27, 2023 12:43 am This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#20

Post by FSchmertz »

Animal wrote: Wed Sep 27, 2023 12:46 am
saltydog wrote: Wed Sep 27, 2023 12:43 am This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
I agree, this would seem to be a time when decreasing the value (like he supposedly did for tax reasons) would save him money. Obviously not having enough insurance to cover his properties would not be a good thing either I'd think.

I'd think the reason for exaggerating value would just be for banking/mortgage/loan purposes.

P.S. And bragging/inflating his image for the public/voters
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Re: Judge rules Donald Trump defrauded banks, insurers.

#21

Post by saltydog »

Animal wrote: Wed Sep 27, 2023 12:46 am
saltydog wrote: Wed Sep 27, 2023 12:43 am This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
Do your own research. You're not worth the effort.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#22

Post by Animal »

saltydog wrote: Wed Sep 27, 2023 1:04 am
Animal wrote: Wed Sep 27, 2023 12:46 am
saltydog wrote: Wed Sep 27, 2023 12:43 am This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
Do your own research. You're not worth the effort.
and there you have it folks. he has no idea either.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#23

Post by saltydog »

Animal wrote: Wed Sep 27, 2023 1:15 am
saltydog wrote: Wed Sep 27, 2023 1:04 am
Animal wrote: Wed Sep 27, 2023 12:46 am
saltydog wrote: Wed Sep 27, 2023 12:43 am This whole thing has you tied up in knots. Doesn't it?

Maybe you can sit this one out.
how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
Do your own research. You're not worth the effort.
and there you have it folks. he has no idea either.
Don't strain a hamstring with the frequency at which you jump to conclusions. It's ok to admit that you're out of your element.

You were clearly lost from the start. Nice try Forrest.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#24

Post by dot »

Animal wrote: Wed Sep 27, 2023 12:46 am how about you make it simple. along with proving you aren't a complete waste of humanity. How about your just explain how over inflating your asset value would lead to a cheaper insurance rate. Just give me an example of how that would work.
See, this is where your insisted upon ignorance doesn't help you. It's already been explained to you, but you refuse to acknowledge that, preferring to be unable to comprehend. As others said, you're out of your league, at least as long as you choose to remain ignorant.
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Re: Judge rules Donald Trump defrauded banks, insurers.

#25

Post by Animal »

saltydog wrote: Wed Sep 27, 2023 1:43 am
Don't strain a hamstring with the frequency at which you jump to conclusions. It's ok to admit that you're out of your element.

You were clearly lost from the start. Nice try Forrest.
dot wrote: Wed Sep 27, 2023 2:29 am See, this is where your insisted upon ignorance doesn't help you. It's already been explained to you, but you refuse to acknowledge that, preferring to be unable to comprehend. As others said, you're out of your league, at least as long as you choose to remain ignorant.


Blah blah blah blah blah blah blah......... :lol: Two fucking retards that can never back up anything.
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