Hundreds of examples of fraud by Trump and his family, corporations

[McDad]

It should be, the question is on whether he used cooked appraisals to request lower taxes. If he did that then again, it could constitute fraud.

How are inflated values used to request lower taxes???

I don't understand and I really want to so I can use it in my own small portfolio.

 

[Septic]

I don't understand the tax angle. How would Don's inflated value impact taxes owed to IRS or NY state, or NYC?

I don't know either, I was responding to the other posters comment about a banks requirements and taxes. If my understanding is correct, its alleged he was overstating the values to the banks while also arguing for lower taxable values through the tax appraiser. I was simply noting I don't think a lender has an dog in that fight.

 

[C-south]

As I just asked above do we have a record of the reporting of these fraudulent appraisals? I mean … we have a detailed record of granted loans and repayment

It’s ridiculous. If he took out loans and repaid them WGAF. If he over inflated value and sold it that’s on the buyer. If it was from appealing property tax appraisals that’s on the local government.

 

[LSU-SIU]

I don't understand the tax angle. How would Don's inflated value impact taxes owed to IRS or NY state, or NYC?

We're going to have to put the governments case together for them at this point. Yeah, are we talking property taxes here? LoL I mean those are pretty simple, the tax assessor does all that.

 

[happy-go_vol]

He was a democrat when this all happened, so it shouldn't be a surprise.

 

[Septic]

It’s ridiculous. If he took out loans and repaid them WGAF. If he over inflated value and sold it that’s on the buyer. If it was from appealing property tax appraisals that’s on the local government.

The argument is that the banks would have been damaged by offering lower interest rates than what his income and assets would have normally afforded. This increased his profits while reducing theirs, based on his deception.

It's a bit astonishing that suddenly the rule of established loan fraud law is now in question with some of you guys.

 

[McDad]

I don't know either, I was responding to the other posters comment about a banks requirements and taxes. If my understanding is correct, its alleged he was overstating the values to the banks while also arguing for lower taxable values through the tax appraiser. I was simply noting I don't think a lender has an dog in that fight.

Well it is a dumb position to argue. We can all overstate value to lenders. We can all also understate value to the tax assessor's office. But I have yet to get what I want with either. The bank does their own valuation. And the assessor's office told me to kick rocks.

 

[happy-go_vol]

They'll continue to fish

 

[Septic]

As is their fiduciary responsibility

It is, no one is denying that.

But given the statutes - their malfeasance or incompetency is not a factor in determining if a crime has been commited.

 

[hog88]

LOL. Property appraised for one set of numbers and Trump organization valued the property at a higher set of numbers.

Welcome to the world of real estate. All my properties have an appraised value by the county, a value by the city, a value to my insurance agent, a value to my bank, a value to real estate agents, a value to my CPA, and a value to me.
What I don't understand from the article, is the claim that Trump used the higher numbers to increase his profits. Unless other people are investing in Trump's real estate holdings, I cannot see any way inflated numbers benefit him beyond his ego.
From article:
New York Attorney General Letitia James spelled out what she argued was a pattern of fraud by former President Donald Trump and his company, where they repeatedly ignored professional appraisals for their properties and instead used highly inflated, self-serving valuations to increase his own profits.

She’s speaking to those illiterate of the subject.

 

[happy-go_vol]

Well it is a dumb position to argue. We can all overstate value to lenders. We can all also understate value to the tax assessor's office. But I have yet to get what I want with either. The bank does their own valuation. And the assessor's office told me to kick rocks.

Yep, the tax guy assess our homes, no matter how much we tell them it's worth less. The tax people will always be determined to increase the value

 

[McDad]

She’s speaking to those illiterate of the subject.

Unlike government lawyers, I have to know what I am talking about.

 

[Majors]

He was a democrat when this all happened, so it shouldn't be a surprise.

Which goes back to not sure she wants to open up the "two sets of laws" route. He was one of them at the time, giving money to AG (Cuomo, Spitzer) and other Dems. Look the other way as you're "one of us"

He was also not a racist while he was D for the record.

 

[McDad]

Yep, the tax guy assess our homes, no matter how much we tell them it's worth less. The tax people will always be determined to increase the value

The value on all my properites doubled since last appraisal 4 years ago. I called Barry ( I know the assessor personally) and he told me I could appeal but I would be wasting my time.

 

[C-south]

The argument is that the banks would have been damaged by offering lower interest rates than what his income and assets would have normally afforded. This increased his profits while reducing theirs, based on his deception.

It's a bit astonishing that suddenly the rule of established loan fraud law is now in question with some of you guys.

So did he default on the loan? It should’ve been the banks due diligence to verify the value of the assets themselves before granting the loan. It’s hysterical to think this is an issue after the loan is paid and then they decide to do the job they should’ve done from the start.

 

[Septic]

Well it is a dumb position to argue. We can all overstate value to lenders. We can all also understate value to the tax assessor's office. But I have yet to get what I want with either. The bank does their own valuation. And the assessor's office told me to kick rocks.

I'm sure that Trump will be looking for competent legal representation on this, perhaps you could send him your hot take on the matter.

"We all do it, ain't my fault the bank is dumb" probably won't even be the first time that defense has been trotted out.

 

[hog88]

I don't think that when applying for a loan, or representing to the government the value of property for tax purposes, you are allowed to intentionally misrepresent that and say no harm, no foul, because they didn't figure out at the time that you were lying.

I’ve never been asked by the government what I consider the value of any of my properties to be. They tell me what they assess it to be and if I disagree I have to prove them wrong.

 

[McDad]

It is, no one is denying that.

But given the statutes - their malfeasance or incompetency is not a factor in determining if a crime has been commited.

If Trump is on the board at the banks where is inflated values were accepted without verification, then the AG has something with some teeth. Otherwise, this is SOP for anyone who owns real estate...even if you simply own your own home.

 

[Septic]

So did he default on the loan? It should’ve been the banks due diligence to verify the value of the assets themselves before granting the loan. It’s hysterical to think this is an issue after the loan is paid and then they decide to do the job they should’ve done from the start.

It doesn't matter if he defaulted or not. Damages were allegedly created by trumps willful deception - it's not "victimless" as some here are attempting to argue.

 

[Septic]

If Trump is on the board at the banks where is inflated values were accepted without verification, then the AG has something with some teeth. Otherwise, this is SOP for anyone who owns real estate...even if you simply own your own home.

He shouldn't have anything to worry about then.

 

[McDad]

I'm sure that Trump will be looking for competent legal representation on this, perhaps you could send him your hot take on the matter.

"We all do it, ain't my fault the bank is dumb" probably won't even be the first time that defense has been trotted out.

Don't get snarky with me because you're taking a dumb position. I could give two ***** about the whole thing except the "fraudulent activity" is something I see routinely.

 

[McDad]

He shouldn't have anything to worry about then.

Big government is bad unless they go after orange blowhards and churches, then.

That about right?

 

[C-south]

It doesn't matter if he defaulted or not. Damages were allegedly created by trumps willful deception - it's not "victimless" as some here are attempting to argue.

Lol. Change Trump’s “willful deception” to the banks “willful ignorance” or lack of due diligence.

 

[McDad]

So did he default on the loan? It should’ve been the banks due diligence to verify the value of the assets themselves before granting the loan. It’s hysterical to think this is an issue after the loan is paid and then they decide to do the job they should’ve done from the start.

Maybe things are different for multi million dollar properties, but if I default on my loan the bank takes possession of assets up to the amount defaulted. Foreclosures are not a new concept.

 

[NorthDallas40]

It is, no one is denying that.

But given the statutes - their malfeasance or incompetency is not a factor in determining if a crime has been commited.

Well again that is a basis of argument the AG is claiming. Her case will not be any stronger than it is today. And at this point it already looks like another over promise under deliver yawn fest.