Trump lies about his assets

Trump Organization Controller Admits to Tax Fraud Over Fear of Losing Job
McConney admitted he previously testified under oath that he knew he was breaking the law. He claimed he feared being fired if he resisted Weisselberg’s demands.

A former top Trump Organization executive Friday testified that he repeatedly committed tax fraud at the direction of then-chief financial officer Allen Weisselberg in a major blow to the defense at former President Donald Trump’s $250 million civil fraud trial.

Ex-controller Jeffrey McConney first claimed he didn’t know it was illegal for him to dramatically overestimate the value of Trump-owned assets like golf courses, Trump Tower apartments and luxe real-estate developments.

But under sharp questioning, McConney admitted he previously testified under oath that he knew he was breaking the law. He claimed he feared being fired if he resisted Weisselberg’s demands....
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PostmodernProphet said:
I believe that's why banks get appraisals whenever they take a mortgage on property.......lib'ruls must never have gotten a loan if they were unaware of that step......
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A bank would not have access to the private land use documents. And often you submit an appraisal. I am surprised you do not know that. The defense that trump did commit fraud, but that the banks failed to catch him, is not much of a defense.
 
T. A. Gardner said:
The problem with that is what fair market value is at any given time. The ONLY sure way to know that is to sell the property. Then you KNOW what the market value is. You can make a guess as to what the property value is, but without selling it, there's no way to know if that's accurate.
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Of course, you can. They compare it to other homes in the area that sold. That is what real estate does.
 
Walt said:
A bank would not have access to the private land use documents.
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what the fuck are you even talking about......I've been a real estate lawyer for 44 years and never once has anyone used the phrase "private land use documents".......

And often you submit an appraisal.
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and no one "submits" an appraisal.....banks hire their own appraisers.....
 
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Nordberg said:
Of course, you can. They compare it to other homes in the area that sold. That is what real estate does.
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Well, that judge didn't. $18 million for Mar-a-Lago? That's ridiculous! A quick look on Zillow shows homes on a fraction of the acreage and a fraction of the size selling for $75 to $100+ million like two doors down the street.

Even in real estate, you can make a deal below or above asking price. I did on the one I bought two years ago. I pointed out a whole list of issues, things most people would never see looking at what otherwise looked like a house in great condition. Could you spot:

Illegal wiring?
Rebar issues in the pool?
Irrigation system issues?
Failed seals in a double pane window?
Poor drywall patches?
Code violations like the attic ladder in the garage not being fire rated?

I could and I did. While they took my cash offer, I reduced it by asking for compensation to pay for the repairs bringing the final price below asking.

I buy raw land and improve the lots. I make damn sure that prospective buyers know that they're getting quality. I have no issues showing permits, engineering paperwork, or explaining how stuff was done to meet or exceed code.
 
floridafan said:
Donald Trump grossly inflated his assets, says Attorney General Letitia James, and now the full transcript in that civil fraud case is being revealed to the public.

In nearly 500 pages, and on tape, Trump is probed about his properties and business and whether or not he has lied about all of it on official documents.

Taken April 13, 2023, Trump explained that he was far too busy being president to handle his personal businesses. Under oath, the former president claimed to have saved millions of lives, indeed the whole world, from nuclear war. What's worse, he claimed, it still might happen.

"I considered this the most important job in the world, saving millions of lives. I think you would have nuclear holocaust (sic), if I didn't deal with North Korea. I think you would have a nuclear war, if I weren't elected. And I think you might have a nuclear war now, if you want to know the truth," Trump claimed in the now-public deposition

https://www.rawstory.com/trump-deposition-letitia-james/
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Have you ever lied about your assets? I'm betting you have.
 
T. A. Gardner said:
Well, that judge didn't. $18 million for Mar-a-Lago? That's ridiculous! A quick look on Zillow shows homes on a fraction of the acreage and a fraction of the size selling for $75 to $100+ million like two doors down the street.
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The first thing you learn about real estate is zoning and land use documents can make a huge difference in values. Permission to build a house on a piece of property can literally multiple its value by ten times, and can literally multiple its taxes also by ten times.

What trump did was lie about what he could do with mar-a-lardo. he claimed he could subdivide it into condos, which would have made it as valuable as he claimed. The reality was he was getting lower taxes, but will never be allowed to subdivide it. So look at other properties that were allowed to be subdivided all you want, the bank sure did, they have no bearing on the value of his property which cannot be subdivided.

PostmodernProphet said:
what the fuck are you even talking about......I've been a real estate lawyer for 44 years and never once has anyone used the phrase "private land use documents".......
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You never heard of land use documents or zoning regulations. You are not much of a real estate lawyer then.
 
Walt said:
The first thing you learn about real estate is zoning and land use documents can make a huge difference in values. Permission to build a house on a piece of property can literally multiple its value by ten times, and can literally multiple its taxes also by ten times.

What trump did was lie about what he could do with mar-a-lardo. he claimed he could subdivide it into condos, which would have made it as valuable as he claimed. The reality was he was getting lower taxes, but will never be allowed to subdivide it. So look at other properties that were allowed to be subdivided all you want, the bank sure did, they have no bearing on the value of his property which cannot be subdivided.



You never heard of land use documents or zoning regulations. You are not much of a real estate lawyer then.
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Much of what you just said is right but stop trying to defend the judge. $18 million for Mar-A-Lago? No. It is worth way more than that.
 
Lightbringer said:
Have you ever lied about your assets? I'm betting you have.
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I know to get loans during a real estate boom, some people will lie to get loans, but most people do not. The "everyone does it" is just plain garbage. Some people do it, but many do not.

Many, and maybe most, people accept when the bank says a mortgage is too high for them, the mortgage is probably too high for them. This is especially true with commercial or rental real estate, where things can go very bad, and you probably need some level of buffer.
 
Lightbringer said:
$18 million for Mar-A-Lago? No. It is worth way more than that.
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Anything more that it is worth is based on the ability to subdivide it into condos, which does not exist. trump lied and said he had rights he did not have to inflate the price. We can go around in circles about this forever, but the facts are just plain against trump on this.

Much like they are against trump on the size of his NYC condo. He doubled the floor space. That is just a fact.

Now the question is were these lies material or not. Most would agree that a lie that changes the value by several times is material.
 
Walt said:
Anything more that it is worth is based on the ability to subdivide it into condos, which does not exist. trump lied and said he had rights he did not have to inflate the price. We can go around in circles about this forever, but the facts are just plain against trump on this.

Much like they are against trump on the size of his NYC condo. He doubled the floor space. That is just a fact.

Now the question is were these lies material or not. Most would agree that a lie that changes the value by several times is material.
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It is a business that generates income beyond $18 million per year AND it has two ocean fronts. $18 Million? You should be calling for that judges head.
 
Walt said:
I know to get loans during a real estate boom, some people will lie to get loans, but most people do not. The "everyone does it" is just plain garbage. Some people do it, but many do not.

Many, and maybe most, people accept when the bank says a mortgage is too high for them, the mortgage is probably too high for them. This is especially true with commercial or rental real estate, where things can go very bad, and you probably need some level of buffer.
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I was talking about taxes. How do you do your taxes Walt?
 
Lightbringer said:
I was talking about taxes. How do you do your taxes Walt?
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Assets are not generally taxed in the United States, with the major exception of real estate. It is difficult to lie much about your real estate, and I certainly have never lied about my real estate. I have also been honest about my income, because my income comes from reputable companies. If I were ever caught lying about any of this, I would lose my bonding, and my job... Which I actually want to lose, but just not in that way.

Seriously, these are games someone like myself simply does not want to play.
 
Walt said:
Assets are not generally taxed in the United States, with the major exception of real estate. It is difficult to lie much about your real estate, and I certainly have never lied about my real estate. I have also been honest about my income, because my income comes from reputable companies. If I were ever caught lying about any of this, I would lose my bonding, and my job... Which I actually want to lose, but just not in that way.

Seriously, these are games someone like myself simply does not want to play.
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Which is Trump's business so fuck off. Mar A Lago is worth a lot more than $18 Million and you fucking know it.
 
Lightbringer said:
Which is Trump's business so fuck off. Mar A Lago is worth a lot more than $18 Million and you fucking know it.
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trump lied and claimed that mar-a-lardo could be subdivided into condos. It cannot. That is a huge effect on the value of the real estate. That is just a fact, and if the lie was material, it becomes a crime.

By the way, if he could subdivide it into condos, the taxes would be many times higher. If he can prove that he told the banks the truth, he is on the hook for tax fraud, and will go to prison for even longer.
 
Walt said:
trump lied and claimed that mar-a-lardo could be subdivided into condos. It cannot. That is a huge effect on the value of the real estate. That is just a fact, and if the lie was material, it becomes a crime.

By the way, if he could subdivide it into condos, the taxes would be many times higher. If he can prove that he told the banks the truth, he is on the hook for tax fraud, and will go to prison for even longer.
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Lie some more jew.
 
Walt said:
I know to get loans during a real estate boom, some people will lie to get loans, but most people do not. The "everyone does it" is just plain garbage. Some people do it, but many do not.

Many, and maybe most, people accept when the bank says a mortgage is too high for them, the mortgage is probably too high for them. This is especially true with commercial or rental real estate, where things can go very bad, and you probably need some level of buffer.
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I looked up some of the properties around Mar-a-Lago. No change in anything to any of them and they are priced on Zillow at between $50 and $110 million and they are much, much smaller properties than Mar-a-Lago. There is ZERO way to justify an $18 million valuation that the judge gave unless the judge is a total stupid fuck (possible) or he's lying his ass off.
 
T. A. Gardner said:
I looked up some of the properties around Mar-a-Lago.
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And found what the property would have been worth if trump had been allowed to build condos, like he claimed. That is not helping his case, because it is just proving that his lies were material.

Based on zoning, prices can change by 100 times. trump promised that mar-a-lardo could be converted into condos, if his social club failed. It could not be. It has one legal use, and that is as a social club. If it burned down, and he could not rebuild the country club, it would be a worthless park.
 
Walt said:
And found what the property would have been worth if trump had been allowed to build condos, like he claimed. That is not helping his case, because it is just proving that his lies were material.

Based on zoning, prices can change by 100 times. trump promised that mar-a-lardo could be converted into condos, if his social club failed. It could not be. It has one legal use, and that is as a social club. If it burned down, and he could not rebuild the country club, it would be a worthless park.
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You are completely full of shit. That is not how those deals are made.
 
Walt said:
You never heard of land use documents or zoning regulations. You are not much of a real estate lawyer then.
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the hell.....it's what I specialized in my entire life......and don't try to deflect by bringing zoning into it.......there is no such thing as "private land use documents".......do you mean deed restrictions?.....easements?..........those are recorded so they AREN'T "private" and any prospective purchaser or MORTGAGOR can easily see them......if they aren't recorded they aren't effective......if you're ready to admit that you just made it up we can forget it and move on.......if not give me an example of what you call a "private land use document......
 
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