Real estate insiders bewildered by judge’s $18M valuation of Trump’s Mar-a-Lago: ‘Wou

[ptif219]

The key to the dishonesty in your quote is this sentence...

"The judge concluded that Trump overvalued Mar-a-Lago, inflating its value on one financial statement by as much as 2,300%...."

The bolded above was to contrast that there were TWO financial statements and one over valued the property compared to the OTHER by 2,300%.

It is that Trump used two VASTLY DISPARATE valuations, one to benefit on the low end for taxes, and the other to vastly over estimate the value on the high end to gain better loan terms and leverage.

That is the fraud. You cannot make two vastly different documented statements on the same thing.

Who did the appraisals?

 

[Lightbringer]

Trump loves to feel he is entertaining, and nothing is more entertaining than seeing the unraveling of a mad man as Letisha James shows him what a real boss is and demonstrates how impotent Trump is.

Brava Trump. Well done. Standing ovation. We are ready and eager for Act 2!

You are an idiot.

 

[QP!]

So you are telling me financial institutions did not get appraisals? HAHAHAHAHA

No.

So you are telling me Trump told the banks they never needed appraisals and they could rely on his statements only?

 

[QP!]

Who did the appraisals?

The tax appraiser.

Then Trump argued in filings it was too high, valuing the property at $26MM. His reasoning in the filing was that he had FOREVER diminished the property value by contracting away any future development rights for any other buyer and Trump argued, without being able to develop the property it was worth much less.


And then when it came to banks, he argues the property was worth many thousand of percent more due to the development opportunities.

That is FRAUD.

 

[QP!]

You are an idiot.

But Trump is Letisha's bitch.

Did you see him whining and crying like the baby she has turned him in to.

Waaaaa, it's so unfair i cannot have a jury trial. I would win if i could get a jury trial. Waaaaaaa


FLOL. So much fun.

Person 1 : Hey Donald if you wanted a jury trial why did you not request one?

Trump : Because my lawyer, reflects me, and is incompetent. But hey she is pretty so i will keep her on.

 

[Concart]

Did you hear what Trump had to say? He said there is a disclaimer on all of his valuations that basically says 'Caveat Emptor. He followed this up by saying about this warning.... “Many, many warnings. Page one, page two, and many pages, it says, ‘Please, you must understand that you have to do your own due diligence.… Do not rely on anything, do not rely on the financial statements,’” he told reporters at midday.'.

That is admitting to the fraud he is accused of. He truly is a complete fool.

 

[Concart]

Let's say for shits and giggles that the bank got appraisals, and Trumps numbers were off by a factor of ten. Guess what? Trump committed fraud. It makes no difference if the banks caught the fraud or didn't catch the fraud, the statements were still fraudulent. This is like saying that if your taxes get audited and you cheated the government out of millions, but you included a statement that the IRS should not rely on the tax return, you didn't commit tax fraud because you told the IRS not rely on your numbers. Do you think you're off the hook for committing tax fraud? ROTFLMFAO!!! is this not obvious to the OP? Oh, wait, the OP is a fucking moron. Never mind.

 

[QP!]

I love that in Trump's video'd deposition he admits to not knowing what GAAP requirements are but says Allen Weisselberg is the one in the company.

Allen Weisselberg video deposition, he admits to not knowing any of the requirements for GAAP as he did not take the CPA exam.

Don Jr and Eric also disclaim understanding of GAAP.

And yet on all their financial statements they attested and signed they met GAAP requirements.

 

[Nordberg]

Let's say for shits and giggles that the bank got appraisals, and Trumps numbers were off by a factor of ten. Guess what? Trump committed fraud. It makes no difference if the banks caught the fraud or didn't catch the fraud, the statements were still fraudulent. This is like saying that if your taxes get audited and you cheated the government out of millions, but you included a statement that the IRS should not rely on the tax return, you didn't commit tax fraud because you told the IRS not rely on your numbers. Do you think you're off the hook for committing tax fraud? ROTFLMFAO!!! is this not obvious to the OP? Oh, wait, the OP is a fucking moron. Never mind.

If your tax person screws up you are responsible if you sign the return. These are official documents with legal implications. If Trump says Mira Lardo is worth a billion, he owes a shit pile of tax money and should pay up.

 

[ptif219]

No.

So you are telling me Trump told the banks they never needed appraisals and they could rely on his statements only?

Banks would want an appraisal not what Trump thinks

 

[ptif219]

The tax appraiser.

Then Trump argued in filings it was too high, valuing the property at $26MM. His reasoning in the filing was that he had FOREVER diminished the property value by contracting away any future development rights for any other buyer and Trump argued, without being able to develop the property it was worth much less.


And then when it came to banks, he argues the property was worth many thousand of percent more due to the development opportunities.

That is FRAUD.

You go ahead and try that and tell me how that works. You Democrats think people actually believe your lies

 

[T. A. Gardner]

Did you hear what Trump had to say? He said there is a disclaimer on all of his valuations that basically says 'Caveat Emptor. He followed this up by saying about this warning.... “Many, many warnings. Page one, page two, and many pages, it says, ‘Please, you must understand that you have to do your own due diligence.… Do not rely on anything, do not rely on the financial statements,’” he told reporters at midday.'.

That is admitting to the fraud he is accused of. He truly is a complete fool.

Who did he defraud and how much were they taken for?

 

[Into the Night]

No.

So you are telling me Trump told the banks they never needed appraisals and they could rely on his statements only?

So you are saying that financial institutions don't get appraisals??

 

[Into the Night]

The tax appraiser.

Then Trump argued in filings it was too high, valuing the property at $26MM. His reasoning in the filing was that he had FOREVER diminished the property value by contracting away any future development rights for any other buyer and Trump argued, without being able to develop the property it was worth much less.


And then when it came to banks, he argues the property was worth many thousand of percent more due to the development opportunities.

That is FRAUD.

That is not fraud.

 

[Into the Night]

Did you hear what Trump had to say? He said there is a disclaimer on all of his valuations that basically says 'Caveat Emptor. He followed this up by saying about this warning.... “Many, many warnings. Page one, page two, and many pages, it says, ‘Please, you must understand that you have to do your own due diligence.… Do not rely on anything, do not rely on the financial statements,’” he told reporters at midday.'.

That is admitting to the fraud he is accused of. He truly is a complete fool.

That is not fraud.

 

[Into the Night]

Let's say for shits and giggles that the bank got appraisals, and Trumps numbers were off by a factor of ten. Guess what? Trump committed fraud. It makes no difference if the banks caught the fraud or didn't catch the fraud, the statements were still fraudulent. This is like saying that if your taxes get audited and you cheated the government out of millions, but you included a statement that the IRS should not rely on the tax return, you didn't commit tax fraud because you told the IRS not rely on your numbers. Do you think you're off the hook for committing tax fraud? ROTFLMFAO!!! is this not obvious to the OP? Oh, wait, the OP is a fucking moron. Never mind.

There is no fraud.

 

[QP!]

Banks would want an appraisal not what Trump thinks

Yes that is true of ANY fraud.


If i sell a diamond and put together and sign a fake form misrepresenting everything about the diamond and it value, the buyer can also do their own appraisal.

That does not mean i am not committing fraud.

You are trying to say Fraud is not a thing based on your representations and lies as long as the other party can practice 'buyer beware' and find the lies. That is NOT how it works.

When you FILL OUT THE FORMS with fraudulent representations, you commit the fraud. That the other party might catch it does not change that.

 

[QP!]

You go ahead and try that and tell me how that works. You Democrats think people actually believe your lies

Go ahead and do what?

I am the one saying Trump CANNOT do what he did. He cannot in tax filings say the property is worth less than $26MM because"

- i have forever contracted away any sub division or building or development rights
- I have forever dedicated most of the land to it current conservation use
- I have reduced the properties value to that of being a resort only forever which means it value is tied to it annual earnings which are not large

And for the reasons above the land is not worth the $26MM it is being assessed at.


Trump cannot put in filings the above and then turn around and apply to banks for loans and leverage based on the value he attributes to the land based on redevelopment, at 2600% over the value he just said prior was too high.


That is FRAUD. So why would i 'go ahead and try it' when i am pointing out what Trump did was illegal.

 

[Truck Fump / h1b]

Yes that is true of ANY fraud.


If i sell a diamond and put together and sign a fake form misrepresenting everything about the diamond and it value, the buyer can also do their own appraisal.

That does not mean i am not committing fraud.

You are trying to say Fraud is not a thing based on your representations and lies as long as the other party can practice 'buyer beware' and find the lies. That is NOT how it works.

When you FILL OUT THE FORMS with fraudulent representations, you commit the fraud. That the other party might catch it does not change that.

you're a fucking imbecile.

 

[QP!]

Who did he defraud and how much were they taken for?

He defrauded NYS and this stage will determine how much the damages are.


For derps i know you will struggle with this (thinking that is) but let me explain it.

I want you to think of the year 2007 and all the fraudulent mortgages that were sitting in the system like a time bomb.

Simply because it was not 2008 yet and nothing had gone wrong does not mean fraud was not committed in filing those loans.

(Now pay attention to this next part and read it twice)

And EVEN IF those loans did not fail and got paid back the FRAUD STILL TOOK PLACE.

You cannot use the fallacy of Results based Thinking and say 'it is fraud if the loans fail and are not paid back' but it is 'not fraud if you pay the loan back'. Because that would mean EVERYONE could gamble and lie on all such forms and only the people who failed would get charged.

The System does not want that risk in the system where all bank forms are lies and that is why the Fraud law exists.