Fraud as a matter of law.
- Thread starter Jarod
- Start date
No, dumbass.
Mir-a-lago. County assessor put its value at around $20 million. Trump inflated it by about 2800%.
Trump Tower penthouse is around 11,000 feet. Trump claimed 30,000.
Guilty. Persistent fraud.
PostmodernProphet
fully immersed in faith..
QP!
Verified User
Actually there is a bit more to it than that.
The Trumps argued the property was actually BELOW assessed value as they had given all sorts of conditions on buying it that it would never be developed or severed, etc. They got the value lowered for tax purposes.
Then they turned around to banks and said it was worth 2800% more.
...In 2020, Donald Trump appealed a $26.6 million valuation of Mar-A-Lago by the Palm Beach County Tax Assessor as being too high. Trump repeatedly sought the lowest possible valuations of Mar-A-Lago in appraisals since the day he acquired it....
Why would Donald Trump argue that the valuation of $26.6 million was too high?
The answer is simple and is at the heart of New York Attorney General Letitia James civil Fraud lawsuit. The essential allegations of the New York AG civil lawsuit are that Donald Trump would fight for very low valuations of his properties to dodge taxes and then fraudulently inflate the valuations of the same properties on his statements of financial conditions to get favorable loans.
Take Mar-A-Lago, for example.
When the Palm Beach County Tax Assessor applied a $26.6 million valuation in 2020, Trump argued the property was valued at far less as he had always done with that property. The Mar-A-Lago property is encumbered with a “trust for historical preservation” in a 2002 deed where Trump agreed “to forever extinguish his right to develop or use the Property for any purpose other than club use.”
The 2002 Deed also specifically "limits changes to the Property including, without limitation, the division or subdivision of the Property for any purpose, including use as single family homes, the interior renovation of the mansion, which may be necessary and desirable for the sale of the Property as a single family residential estate, the construction of new buildings and the obstruction of open vistas." Id. As Judge Engoron explained in his summary judgment order: “In exchange for granting the easement, Mar-a-Lago was taxed at a significantly lower rate (the club rate) than it otherwise would have been (the private home rate).”
So on the one hand, while Donald Trump deflated the valuation of Mar-A-Lago to pay less taxes by encumbering the property with historical easements and other restrictions, Trump fraudulently inflated the value of the property to get favorable loans.
Judge Engoron explained that “Donald Trump's statement of financial conditions for 2011-2021 value Mar-a-Lago at between $426,529,614 million and $612,110,496, an overvaluation of at least 2,300% compared to the assessor's appraisal” and that Trump “seems to imply that the numbers cannot be inflated because he could find a buyer from Saudi Arabia to pay any price he suggests.”
Trump ran this same scheme of deflating the value of properties for tax assessors and inflating the value properties for banks to get favorable loans with his other properties. ...
cite
Right.
We all know it went both ways. I didn’t see that this particular suit involved the devaluation for property tax purposes. I thought it was about the fraudulent activities involving inflated values to obtain loans. But, it could be both. Next week’s trial portion will probably clear that up for us.
They believe he's the target of the weaponizing of the US government against political opponents of one party. Those folks who believe that are part of a movement rejecting what they believe to be a miscarriage of justice. Basically, the "indict him lots" method worked to get him at the top of the primary polling. These indictments have created a movement that, at this moment, appears difficult (if not impossible) to stop. That only 55% are supporting him tells me that there are folks who disagree and have not joined this movement, but it seems to be growing, not shrinking.
BidenPresident
Verified User
So, to you, is it possible any of the indictments of Trump are legitimate?
It is possible. But then I am not voting for Trump under any circumstances. These folks that believe that way will not even be swayed by a guilty verdict. Though that will not likely happen before the election happens, it takes too long to get a trial nowadays for this to be decided by verdicts.
BidenPresident
Verified User
All Trump supporters say that. I mean, you gave a defense of Trump that is standard for his supporters.
I informed him of what those folks who support him are thinking as he asked for that information. Since I know some of them and can listen I am able to give him knowledge he would otherwise lack. And no, Trump supporters do not say they will not vote for him under any circumstances.
BidenPresident
Verified User
Nice try.
BribempResident, you are a real "winner".
BidenPresident
Verified User
I wish you would not act like a baby. Other members think it validates childish behavior.
But believing that suggests a lack of mental health or intellectual intelligence that I thought was less common in our culture. The goal was not to stop him politically but for the rule of law to prevail. We all knew the indictments would have this effect politically, but justice is worth that.
I am simply shocked by the lack of reality so many Americans live in.
The Criminal justice system does not operate on politics, but on practicality and an attempt at justice.
These people are simply ignorant and I have a hard time accepting that.
It is as good as they have. The cupboard is empty. The debates show how bad a condition the Republican Party is in. The winner is the one who does not bother to show up.
I still don’t see how fraudulently overvaluing personal assets hurt the state of NY. The business is family owned.
In fact, I’d think that would cause paying higher property taxes.
It appears that it's a crime of fraud in NY. Trump can appeal.I still don’t see how fraudulently overvaluing personal assets hurt the state of NY. The business is family owned.
In fact, I’d think that would cause paying higher property taxes.
IMO, regardless of the laws in any state, it's best not to willfully and repeatedly violate them. Only fucking morons do that.
I still don’t see how fraudulently overvaluing personal assets hurt the state of NY. The business is family owned.
In fact, I’d think that would cause paying higher property taxes.
It was against the law, not required to prove it hurt the state of NY.
Fraud is harmful, it hurt the banks, it hurt others competing for that same loans.
Never expect a MAGAt supporter to agree with a law that goes against Herr Trump.