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yimyammer

yimyammer

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touchdown said:
nypost.com

Trump’s massive $500M civil fraud fine in AG Tish James’ case thrown out by NY appeals court

A New York appeals court Thursday has thrown out the massive $464 million judgment dealt to President Trump after he was found liable at a civil trial for business fraud.
nypost.com nypost.com
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That case was a pile of :poop1: :poop1: :poop1: and while I didn't read court transcripts to say this with 100% certainly but if the facts are as I understand them to be, this case should have never gone to trial. This case is in my wheelhouse in that I did what Trump does and borrowed money from banks all the time to build spec homes. I'd have battles with the appraiser and bank all the time over the value used for the loan and they were ALWAYS wrong (meaning I sold the houses for hundreds of thousands over their appraised value) but they want to be conservative because they limit the loan to 60 to 70 percent of the appraised value so if they can understate the value in the appraisal, their effective loan to value ration is even lower along with their risk plus appraisers don't get in trouble for understating values, the risk is always in overstating values, so their default position will be conservative.

Trump valuing his project higher than the bank isnt fraud, its merely a difference of opinion. In regard to the property tax value, that is determined by the state or city and then the property owner or their consultant can argue the value. Plus there's always a natural tension between wanting a lower value for tax purposes and a higher one for loan purposes. At the end of the day, both the bank and the city determine the final value making it next to impossible to fraudulently effect this figure unless someone is on the take or their is an inside person who could change the numbers.

Alternatively, when Shifty Shift has his homestead in a different state than California and misrepresent this on a loan application, that isnt a difference of opinion, its an easily verifiable lie, same with Letisha James if she actually understated the number of units in her building and claimed her father was her husband on the loan application.

I bet less than 500 people in the entire country understand the facts of the case and how things work in real estate yet you have people losing their mind over :poop: they're completely ignorant of and lack any understanding
 
Creeper

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dbair1967 said:
Arrest this ugly cow ass turd lady.

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This is good news but they should have tossed the entire case. 2 of the 5 judge panel did argue that the case never should have been brought. 2 agreed there was fraud. 1 was kind if in between but I think was leaning towards a full dismissal of the case. Of judge lambasted Letitia James for bring the case in the first place. He commented that she ran for her office on the platform that should would go after Trump even before she had any knowledge of actual criminal activities.

They accepted the 8th amendment argument that the judgement was excessive. I think this was obvious. Now we have to wait and see if James files an appeal, or Trump for that matter. I heard last night the state was also required to pay Trump's legal fees, although I have not confirmed that yet. If so, that will be a significant penalty on the state.

Now we have to see what happens with the appeals of the Alvin Bragg prosecution. I believe Trump initial appeal was rejected.
 
Creeper

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touchdown said:
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Didn't Comey testify under oath before congress that he never leaked or authorized anyone else to leak to the media? I am almost certain I recall him saying that when he was asked about leaking his notes on a meeting with Trump to a friend and the NY Times. All these people lied with impunity knowing they would never be prosecuted.
 
Creeper

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yimyammer said:
That case was a pile of :poop1: :poop1: :poop1: and while I didn't read court transcripts to say this with 100% certainly but if the facts are as I understand them to be, this case should have never gone to trial. This case is in my wheelhouse in that I did what Trump does and borrowed money from banks all the time to build spec homes. I'd have battles with the appraiser and bank all the time over the value used for the loan and they were ALWAYS wrong (meaning I sold the houses for hundreds of thousands over their appraised value) but they want to be conservative because they limit the loan to 60 to 70 percent of the appraised value so if they can understate the value in the appraisal, their effective loan to value ration is even lower along with their risk plus appraisers don't get in trouble for understating values, the risk is always in overstating values, so their default position will be conservative.

Trump valuing his project higher than the bank isnt fraud, its merely a difference of opinion. In regard to the property tax value, that is determined by the state or city and then the property owner or their consultant can argue the value. Plus there's always a natural tension between wanting a lower value for tax purposes and a higher one for loan purposes. At the end of the day, both the bank and the city determine the final value making it next to impossible to fraudulently effect this figure unless someone is on the take or their is an inside person who could change the numbers.

Alternatively, when Shifty Shift has his homestead in a different state than California and misrepresent this on a loan application, that isnt a difference of opinion, its an easily verifiable lie, same with Letisha James if she actually understated the number of units in her building and claimed her father was her husband on the loan application.

I bet less than 500 people in the entire country understand the facts of the case and how things work in real estate yet you have people losing their mind over :poop: they're completely ignorant of and lack any understanding
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While I generally agree with you, there is evidence Trump lied about the square footage of his Trump Tower apartment claiming it was significantly larger than it actually is. It is not just a difference of opinion on valuation, it was a verifiable false statement. Is this fraud? Only if the banks were somehow financially harmed by the false statement. The banks did not complain or file a complaint about any of this. The banks testified they did not suffer any financial damage. And as one judge on the appeals panel asked, How does the state claim fraud between two professional organizations with the capability, and obligation, to make their own assessments when neither side claimed any harm? James injected herself into a business transaction where both parties were happy with the transaction. The judge never should have allowed this case to proceed.

That fact is banks do their own appraisals no matter what the borrower claims his properties are worth. And in this case, the banks did testify they did the normal assessments on the Trump properties.
 
daboyz

daboyz

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LOL Now what's the 'ole Trumpster up to? Can you imagine walking around the People's House Museum & here comes the President of The United States?!
(video was taken 41 minutes ago)
 
dbair1967

dbair1967

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Creeper said:
Didn't Comey testify under oath before congress that he never leaked or authorized anyone else to leak to the media? I am almost certain I recall him saying that when he was asked about leaking his notes on a meeting with Trump to a friend and the NY Times. All these people lied with impunity knowing they would never be prosecuted.
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Yes
 
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