New York AG Sues Trump Family for Financial Fraud

You've posted, I've posted, and some others have posted it - - the Banks do their own appraisals. I don't know of a single bank that one could walk into and say my X is worth $$, loan me money against it, or finance the purchase of it. Never. Commercial or personal. Even on a Personal Financial Statement (PFS) that is submitted along with tax returns and other documents, non-standard valuations listed would be investigated.

All the words used such as 'allegation' means they haven't proven it. They may believe a crime was committed (real or imagined) but have no actual proof. And I would question the 'harmed party' status - real estate or real property taxing basis doesn't usually include intangibles like 'brand name'.

For the record, I don't like Trump. What I laugh at is the obvious inability of some people to understand reality of what actually is, versus what they want it to be.

 

Yep, such a failure ,must be way Trump tried to settle this "fraud" case a few times including up until a few days before James filed the 'verified allegations" of over 200 examples of fraud.

 

25 face palms and counting;.

 

"Verified allegations" ;
Look it up.;

Criminal; cases use the term "accuse"
Civil cases use the tern "allege"

 

Astounding. You actually quoted it! Next, you might post something from wikipedia to support James' claim?

 

It doesn't matter if the banks made or lost millions,
It has zilch to do with Trump & Co's fraudulent financial statements.


Why Trump's Alleged Real-Estate Shenanigans Went Too Far
https://slate.com › business › 2022/09 › trump-lawsuit-rea...

8 days ago — Not surprisingly, he gave low valuations to tax authorities, while giving much higher ones to his possible lenders. As the attorney general ...

 

More than 200 "verified allegations"

It's no wonder Trump kept trying to settle the 250 million lawsuit.;

 

You know how many I have had in the last SEVEN YEARS?

Still waiting.

Next time make sure you know who you are talking about.

 

Tax authorities tell YOU how much your property is worth not the other way around, lenders do their own evaluations they don't let someone tell them how much it is worth so loan me that amount.


Trump Family Lawsuit Flunks Banking 101



This lawsuit ignores that no one suffered damages and displays Ms. James’s ignorance of basic bank underwriting practices. No bank makes a loan relying on collateral as the first way out. That’s the last thing a bank wants, as it isn’t in the business of asset liquidation. Banks look to future cash flow for repayment.

Every borrower submits overly optimistic cash-flow projections and every lender cuts them back based on likely macroeconomic and industry-specific scenarios. The bank won’t make the loan if that downside scenario projects a likely default, and it prices that loan to reflect the level of risk informed by the bank’s projections.

Stephen R.S. Martin

Cave Creek, Ariz.

Mr. Martin was a managing director at First Chicago Bank for 23 years.


When I was a lending officer for a major regional bank, all real-estate loans required official appraisals as well as substantial cash-flow projections and permanent take-out commitments. I can’t imagine a New York financial institution not securing this information before advancing funds to Mr. Trump or one of his business ventures.

Mr. Trump may have included some ridiculous value for a piece of property on his loan application, but it is the lending institution’s duty to establish a market value before advancing funds. I also question who the damaged parties are in this charge. If the banks were repaid in accord with the terms of the loan agreements, then it is their duty to seek the recovery of their funds in a court of law.

As Mr. Trump says so often, “this is a witch hunt.” Un this case, he is right.

Al Montgomery


Germantown, Tenn..
https://www.wsj.com/articles/letiti...t-finance-11664288902?mod=opinion_major_pos17

 

And then in the real-world people understand that the BANK appraises your collateral against a loan. The gov't appraises the tax value, have you not ever purchased a house, land a business? Shockingly the bank made money, trump made money, the government made money and a wacko lefty that said she would put Trump in jail, much like a few of you on this board, is trying to save face because Trump after 5 years of investigations, Trump hasn't been convicted of a crime. Keep digging in though, it's quickly becoming a laughingstock on this board.

 

May I recommend googling 'verified allegations'?

As to settling the lawsuit, sometimes defending is more expensive then settling, but only someone who actually understands that would know.

 

Then why did Trump claim he never settles? Why did he say he avoids settling because it invites additional lawsuits?

Also, while desperately digging for excuses, try keeping in mind that he attempted a settlement before the suit was even made.

 

In the real world, lying to the government about values for tax purposes, lying to lenders about values for favorable rates, etc. are illegal, and "But it is there fault for not catching me sooner" is not a legal defense. If I created a fake W2 and submitted it to the bank to get a loan, I'd be in cuffs.

 

The only real criminal investigations into Trump didn't start until after he left office. So, no, not 7 years. And Trump has a habit of delaying all cases as long as he possibly can.

 

I have no idea why Trump would claim he never settles.

Actually yes, settling does encourage other lawsuits. People start looking at a person or business as a good target for nuisance lawsuits, once word gets around to those inclined to look for an easy buck.

Why would I 'dig for excuses?' Oh, you think I actually support Trump. Try again.

 

????? Are FBI investigations started while Trump was a candidate in 2016 somehow not real criminal investigations?

 

Those were into members of his campaign. And for good reason. Trump was not a target of the investigation. He lashed out at Comey for not publicly announcing this, remember?

 

Nonsense. They for instance didnt start an investigation on Carter page, someone who had worked with the FBI in investigations of Russians, to prosecute Page. They did so to get warrants so they could investigate Trump.

 

Now you're getting straight silly. NOONE goes through a 2-year fbi investigation with wiretaps that's not being looked at for criminal charges, NOONE goes through a yearlong special counsel investigation and not looked at for criminal charges. It's beyond silly to think otherwise but the new excuse for why he hasn't even been indicted is pretty comical.

 

Page had been under surveillance before. The warrant was a renewal. There was never a warrant for Trump's comms.

 

There were criminal charges.

 

You missed the words "INTO TRUMP." Trump wasn't a target of the investigations. Trump fired Comey for refusing to publicly announce this exact fact.

 

Ahh so it was a criminal probe and Trump wasn't found to have committed any crimes. I agree.

 

They never targeted Trump. I agree.

 

Whatever you need to keep your sanity yard......