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Conservatives actually love Trump's immorality, sleaziness, philandering, false bravado. Committing crimes will only make them worship their Messiah even more.
 
[h=1]Judge rules Donald Trump defrauded banks, insurers as he built real estate empire[/h]

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Source: AP

Updated 4:25 PM EDT, September 26, 2023


NEW YORK (AP) — 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.

Read more: https://apnews.com/article/donald-trump-letitia-james-fraud-lawsuit-1569245a9284427117b8d3ba5da74249

Copy of this ruling (PDF) - https://s3.documentcloud.org/documents/23991865/trump-ny-fraud-ruling.pdf
 
I've never had to read anything like this about a Democratic president

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

Judge Arthur Engoron found that the former president and his company deceived banks and insurers by massively overvaluing assets and exaggerating his net worth on paperwork used in making deals and securing financing.

The judge found Trump, his company, and key executives repeatedly lied about his wealth on annual financial statements, resulting in rewards including favourable loan terms and lower insurance premiums.

Those tactics crossed a line and violated the law, the judge said, rejecting Trump's argument that a disclaimer on the financial statements absolved him of any wrongdoing.


https://www.google.com/amp/s/news.s...alth-and-value-of-assets-court-rules-12970629
 
As a matter of LAW Trump Organizations committed fraud.

WOW, that is a high standard. He is not the business man he claimed he was.


Thats going to cost him a lot of CASH.
 
Phantasmal said:
Judge finds Trump committed fraud in NY civil case.

https://apnews.com/article/donald-trump-letitia-james-fraud-lawsuit-1569245a9284427117b8d3ba5da74249
Click to expand...

It appears the judge has ordered the dissolution of the Trump Organization and any entities they created in NY state as the penalty for violating count 1 of the suit. The court will appoint the person to oversee the dissolution of the entities. This probably explains why there was a kerfuffle a few months back when Trump was trying to move all his corporate entities out of NY.

There will still be a trial for the counts 2 - 9 to determine financial penalties for Trump, Eric, Don Jr and the others individuals and corporations sued by the OAG.
 
Phantasmal said:
Can you explain what this means in layman terms and do you think they prepared for this eventuality? I have so many questions.
Click to expand...

Trump, Don Jr, and Eric will not be allowed to own corporations in NY, and the judge will decide the penalty after evidence.

The first question in the coming trial is answered, many claims made to banks that lent them money were fraudulent. They did not really have the value they claimed, by a long shot.

The Business certificates Trump corporations work under are no longer valid as of today. Someone will be appointed to take over the dissolution of these several corporations, selling off the pieces.
 
Poor Richard Saunders said:
It appears the judge has ordered the dissolution of the Trump Organization and any entities they created in NY state as the penalty for violating count 1 of the suit. The court will appoint the person to oversee the dissolution of the entities. This probably explains why there was a kerfuffle a few months back when Trump was trying to move all his corporate entities out of NY.

There will still be a trial for the counts 2 - 9 to determine financial penalties for Trump, Eric, Don Jr and the others individuals and corporations sued by the OAG.
Click to expand...
Thank you so very much.
 
Phantasmal said:
Can you explain what this means in layman terms and do you think they prepared for this eventuality? I have so many questions.
Click to expand...

I think it is unclear at this time. Basically it means Trump can't conduct business in NY. Whether that means he will be forced to sell all assets or just assets in NY is unknown at this time.

As an LLC, will the assets revert to the owner of the LLC or will the assets need to be sold and the proceeds go to the owner of the LLC? It would certainly appear that Trump will not own anything in NY when this is done.
 
Jarod said:
Trump, Don Jr, and Eric will not be allowed to own corporations in NY, and the judge will decide the penalty after evidence.

The first question in the coming trial is answered, many claims made to banks that lent them money were fraudulent. They did not really have the value they claimed, by a long shot.

The Business certificates Trump corporations work under are no longer valid as of today. Someone will be appointed to take over the dissolution of these several corporations, selling off the pieces.
Click to expand...
Thank you so very much
 
Poor Richard Saunders said:
I think it is unclear at this time. Basically it means Trump can't conduct business in NY. Whether that means he will be forced to sell all assets or just assets in NY is unknown at this time.

As an LLC, will the assets revert to the owner of the LLC or will the assets need to be sold and the proceeds go to the owner of the LLC? It would certainly appear that Trump will not own anything in NY when this is done.
Click to expand...
I hadn’t paid attention to just how much this impacts him, it’s major.
 
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