Trump fraud trial live updates: 'There is no fraud here,' accounting expert testifies

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ptif219

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The Case against Trump is falling apart. the Judg is likely trying to figure out hoe he can get Trump without looking like a political hack

https://abcnews.go.com/US/live-upda...nt-defense-expert-says-105462327?id=103642561


Donald Trump, exiting court at the conclusion of Thursday's testimony, told reporters that New York Attorney General Letitia James' civil fraud case against him is a "disgrace."

"There was no problem with the loans. The bank was really happy, they testified. Everything was perfect, and it's a disgrace that this case goes forward," Trump said.

His legal spokesperson, Alina Habba, accused the attorney general's team of hypocrisy for criticizing defense expert Eli Bartov, who testified as a state witness after then-New York Attorney General Barbara Underwood sued Exxon Mobil in 2018 for allegedly defrauding investors. The suit, which James took over when she became New York attorney general in 2019, was unsuccessful.

"We just listened to testimony from a man who has such distinct recognition as an accounting expert that even Letitia James and the OAG team used him themselves as an accounting expert," Habba said. "Today when he was on the other side, they spent the entire day objecting, because he was giving testimony that didn't suit their claims."

Trump, meanwhile, boasted to reporters about "leading by about 40 points" in the Republican presidential primary, which he said was partially driven by the civil trial against him.

"It's driving up my polls because the people of our country get it," Trump said. "My poll numbers are the highest I've ever had."

Bartov is set to continue his testimony on Friday, with Trump scheduled to take the stand as the defense's final witness on Monday.

If Donald Trump was a student in Eli Bartov's class, his statements of financial condition would earn him an "A," the New York University professor said on the stand.

"I've never seen a statement that provides so much detail and is so transparent as these statements," Bartov said, praising the "awesome amount of information" in the financial documents that are at the center of the New York attorney general's case against Trump.

"There is no fraud here," Bartov said flatly.Despite his effusive praise for the statements, the professor attempted to underplay the significance of the documents, emphasizing that lenders would be expected to do their own valuations to decide about lending to Trump. Deutsche Bank's credit memos -- which regularly marked down Trump's asset values by as much as 50% -- proved that the banks used additional information to independently scrutinize Trump's financial statements, according to Bartov.

"It is impossible to argue -- it is really absurd to argue -- that Deutsche Bank or any bank or any lender would make lending decisions based on the SOFC," Bartov said of Trump's statement of financial condition. "This should close the book on this case."

"Everywhere you look, you see this is simply an absurd argument," Bartov said.
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BidenPresident said:
A hired expert witness. Legitimate, but not the last word.
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He is very credible since the State of New York has used him in past cases. The case is falling apart for James. First the banker then the real estate agent now the accountant. They all say the same thing. There is no fraud
 
ptif219 said:
He is very credible since the State of New York has used him in past cases. The case is falling apart for James. First the banker then the real estate agent now the accountant. They all say the same thing. There is no fraud
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Trump already lost the case. Stipulated. This is punishment phase.
 
I dont think that facts matter here.....this is a show trial......there is only one possible outcome.

80% confidence.
 
ptif219 said:
He is very credible since the State of New York has used him in past cases. The case is falling apart for James. First the banker then the real estate agent now the accountant. They all say the same thing. There is no fraud
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lol, the judge has already determined there was fraud, that ruling has not changed.
 
BidenPresident said:
A hired expert witness. Legitimate, but not the last word.
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The expert witness the prosecution hired themselves, because he is an expert. More than legitimate, that was a disaster for the prosecution.

He said the same thing I said when this started. SOFC is simply not what banks use to even judge what a building is worth, they have folks whose sole job is to understand and give accurate reports on the status and worth of properties, etc. If a bank gave loans based on SOFC they would be breaking a number of best practices, regulations, and they would fail every solvency test given, they would not be in business because they were not doing what even the government requires of them. This was the part that got broken during the 2008 housing crash, the regulations were changed and banks were forced to ignore requirements on earnings in a horribly flawed attempt to "fix" redlining.
 
Damocles said:
The expert witness the prosecution hired themselves, because he is an expert. More than legitimate, that was a disaster for the prosecution.

He said the same thing I said when this started. SOFC is simply not what banks use to even judge what a building is worth, they have folks whose sole job is to understand and give accurate reports on the status and worth of properties, etc. If a bank gave loans based on SOFC they would be breaking a number of best practices, regulations, and they would fail every solvency test given, they would not be in business because they were not doing what even the government requires of them. This was the part that got broken during the 2008 housing crash, the regulations were changed and banks were forced to ignore requirements on earnings in a horribly flawed attempt to "fix" redlining.
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No disaster. Witnesses only contribute to the hearing. It is not the judge.
 
Damocles said:
The expert witness the prosecution hired themselves, because he is an expert. More than legitimate, that was a disaster for the prosecution.

He said the same thing I said when this started. SOFC is simply not what banks use to even judge what a building is worth, they have folks whose sole job is to understand and give accurate reports on the status and worth of properties, etc. If a bank gave loans based on SOFC they would be breaking a number of best practices, regulations, and they would fail every solvency test given, they would not be in business because they were not doing what even the government requires of them. This was the part that got broken during the 2008 housing crash, the regulations were changed and banks were forced to ignore requirements on earnings in a horribly flawed attempt to "fix" redlining.
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Do you believe that it is relevant if the Bank used the SOFC or not to judge what the buildings were worth?
 
Damocles said:
The expert witness the prosecution hired themselves, because he is an expert. More than legitimate, that was a disaster for the prosecution.

He said the same thing I said when this started. SOFC is simply not what banks use to even judge what a building is worth, they have folks whose sole job is to understand and give accurate reports on the status and worth of properties, etc. If a bank gave loans based on SOFC they would be breaking a number of best practices, regulations, and they would fail every solvency test given, they would not be in business because they were not doing what even the government requires of them. This was the part that got broken during the 2008 housing crash, the regulations were changed and banks were forced to ignore requirements on earnings in a horribly flawed attempt to "fix" redlining.
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Doesn’t matter what the bank did or did not do. It’s still fraud whether they fell for it or not, which is impossible to know.
 
ptif219 said:
He is very credible since the State of New York has used him in past cases. The case is falling apart for James. First the banker then the real estate agent now the accountant. They all say the same thing. There is no fraud
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They do not all say the same thing. The prosecutor had a long line of experts who said the opposite. Trump was not paying them.
 
Damocles said:
The expert witness the prosecution hired themselves, because he is an expert. More than legitimate, that was a disaster for the prosecution. ....
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It is common for 'expert witnesses' to have completely contrary positions when hired by the Defense or called by the Prosecution, making the entire 'expert testimony' ALWAYS subject to great scrutiny and dismissal.

Only an imbecile (sorry Damocles) thinks this was disaster for the prosecution if you read the testimony, as it was largely a joke.


He literally just repeated Trump's 'worthless clause' view, which is NOT a defense.

Trump is arguing he relied on his Accountant Advisors, when the only data the Accountants had is what the Trump org WILLINGLY submitted to them. The Accountants were not doing an Audit, these are voluntary REVIEWS based on the submitter (Trump Org) telling the Accountants they are getting all data needed.

It has been shown that Trump Org deliberately withheld all sorts of information from the Accountants and even presented out right lies, such as saying Cash they had tied up for one reason, was actually free to guarantee another loan.

That is FRAUD and nothing this witness said undoes this.

If you are a derp (which clearly you are Damoclese) you have bought in to this false argument that lying does not matter as long as you pay banks and Insurance back, AND THAT iS WRONG, the fraud is committed at the SUBMISSION of the documents. If you are a derp you buy into the argument that Trump relied on Accountants is an out, when the Accountants only have the data Trump submits and are entirely reliant on Trump org to fully disclose and not lie.

So once again Damoclese you prove what you always do, which is you are one of the most likely ALWAYS to be suckered by Trump lies.
 
QP! said:
It is common for 'expert witnesses' to have completely contrary positions when hired by the Defense or called by the Prosecution, making the entire 'expert testimony' ALWAYS subject to great scrutiny and dismissal.

Only an imbecile (sorry Damocles) thinks this was disaster for the prosecution if you read the testimony, as it was largely a joke.


He literally just repeated Trump's 'worthless clause' view, which is NOT a defense.

Trump is arguing he relied on his Accountant Advisors, when the only data the Accountants had is what the Trump org WILLINGLY submitted to them. The Accountants were not doing an Audit, these are voluntary REVIEWS based on the submitter (Trump Org) telling the Accountants they are getting all data needed.

It has been shown that Trump Org deliberately withheld all sorts of information from the Accountants and even presented out right lies, such as saying Cash they had tied up for one reason, was actually free to guarantee another loan.

That is FRAUD and nothing this witness said undoes this.

If you are a derp (which clearly you are Damoclese) you have bought in to this false argument that lying does not matter as long as you pay banks and Insurance back, AND THAT iS WRONG, the fraud is committed at the SUBMISSION of the documents. If you are a derp you buy into the argument that Trump relied on Accountants is an out, when the Accountants only have the data Trump submits and are entirely reliant on Trump org to fully disclose and not lie.

So once again Damoclese you prove what you always do, which is you are one of the most likely ALWAYS to be suckered by Trump lies.
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you lie all the time, dipshit.

your name is LIES and you're always wrong and dumb.
 
ptif219 said:
The Case against Trump is falling apart. the Judg is likely trying to figure out hoe he can get Trump without looking like a political hack
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There no way to keep Soros owned Judge Arthur EnGöring from looking like a hack - he is revealed as in the hip pocket of Soros.
 
Concart said:
Doesn’t matter what the bank did or did not do. It’s still fraud whether they fell for it or not, which is impossible to know.
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The Derp position Damaclese and other Magats accept is:

- Any one can lie about any and all aspects of their financial condition and submit that to their Accountants for a review, where the Accountants DO NOTHING to verify accuracy other than have you sign a statement that what you have given them is true, accurate and fulsome, so they can then prepare a financial report...

- Once they have that report that they can provide to Banks, as if true and accurate and if the Banks do not catch the Fraud too bad for them

- Trump and Co can hide each and every document and refuse to supply them

- If the Banks do catch the Fraud and never loan you money, the police and prosecutors can do nothing as the bank did not make the loans and lost no money

That is what Damoclese and the derps believe. That if you lie to your Accountants, who DO NOT audit what you give them, that gives you a pass to then 'rely on the accountants', and if the Banks refuse the loans, you are free of any fraud charges 'as the Bank lost no money'.
 
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