Trump Ordered to Pay $355 Million and Barred From New York Business

IRONY ALERT!

 

In New York, the Trump Brand Is Costing Some Condo Owners

In a one-year window, condos in buildings that had the Trump logo went from selling at a 1 percent premium compared with similar units, to selling for 4 percent less, meaning that Trump condos became a “bargain” among the city’s luxury units, said Mr. Van Nieuwerburgh, a professor of real estate.

Even the Trump Tower on Fifth Avenue, one of the crowning achievements of the Trump brand, whose 80-foot cascade flowing down a wall of peach marble was reportedly built with slabs handpicked at a quarry in Italy by Mr. Trump’s ex-wife, saw the average price per square foot of its condominiums tumble 49 percent since 2013, according to Ondel Hylton, the senior director of content and research at CityRealty. The building’s age, growing competition from the ultra-luxurious condos on nearby Billionaires’ Row and regular protests have all dampened interest, Mr. Hylton said.

By contrast, condominiums in four buildings where the Trump logo was removed at the behest of residents — sometimes after a legal battle — have seen their value shoot back up.
https://www.nytimes.com/2024/02/18/realestate/trump-condos-prices-nyc.html

The brand is toxic. No one wants the name of a rapist on their building.

 

There was no fraud. There was no victim. Nobody lost anything. It is a political hit job. These people are evil and consumed with hatred. Nobody lied to a bank. Every bank wants to continue doing business with the Trump Organization. It is outrageous and makes the democrat party an enemy of the nation in my view. It is OUT OF HAND. I'm disgusted despite my limited enthusiasm for Trump. This hurts our society.

 

Prices of real estate are based on supply and demand, not the Trump brand.

 

The huckster has his being found not to be above the law under control.

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The corrupt Judge, Prosecutor and Kangaroo Court have just made Trump even more powerful is becomes more undeniable that all the corrupt folks who hate us, hate Trump.

They know what Trump represents, rebellion against their corrupt election rigging dictatorship.

After the corrupt NYC verdict, Mega-Donors Come Back to Trump

 

So no punishment for breaking the law. Got it.

 

He didn't break the law. He overpriced real estate in the opinions of partisan lawyers. There was no fraud. You got nothing.

 

Summary

Donald Trump and entities he controls own many valuable properties, including office buildings, hotels, and golf courses. Acquiring and developing such properties required huge amounts of cash Accordingly, the entities borrowed from banks and other lenders . The lenders required personal guarantees from Donald Trump, which were based on statements of financial condition compiled by accountants that Donald Trump engaged. The accountants created these compilations based on data submitted by the Trump entities. In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements. When confronted at trial with the statements, defendants fact and expert witnesses simply denied reality, and defendants failed to accept responsibility or to impose internal controls to prevent future recurrences . As detailed herein, this Court now finds defendants liable, continues the appointment of an Independent Monitor, orders the installation of an Independent Director of Compliance, and limits defendants right to conduct business in New York for a few years.
https://static01.nyt.com/newsgraphics/documenttools/ef72526861902856/1e996397-full.pdf

In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements.

Hence, banks lost money they would ordinarily have made by giving Trump loans at lower rates due to his fraudulent financial statements.

 

People like @fmw and @Zorro are entitled to their opinions.

Of course, their unconditional defense of anything Orange kind of undercuts the credibility of anything they post. The content of their posts undercuts any remaining credibility.

For example, crying about the Orange Stain’s court decision without actually being informed and just accusing the world of conspiring against him is pretty uninformed.

For example, one of the frauds committed was submitting a false Statement of Financial Condition in order to buy a license from NY to operate a golf course, then selling the license to Bally’s at a profit. That profit was the result of fraud and is forfeit to the state of NY.

 

The bank set the conditions of the loans as they do on all loans. None of the banks have suggested fraud was involved. Quite the opposite.

If fraud against the banks was involved, why did the state of NY award itself damages instead of the banks?

NY has made the claim THEY were damaged by awarding themselves hundreds of millions of dollars.

More broadly, Engoron, according to James, agreed Trump was guilty before the trial.

A trial brought about by a prosecutor who ran publicly on finding a crime to prosecute Trump with.

The only thing this trial proved is that Trump is so clean they had to create a crime. A crime of a type that has never been prosecuted before in the state of NY. A crime that Hochul has said publicly to other NY businesses they don't need to fear being prosecuted for.

This is just another case in a series of cases that form a conspiracy to take down Trump by any means necessary, just like they have been doing since he was sworn in.

 

What the state of NY has done is claim THEY are the victims of this loan by awarding themselves this money.

 

Oh so the bank(s) knows it was "lied" to and has not sought damages?

 

I doubt they need help with the obvious.

 

Is the bank getting a cut of that 350 million?

 

Yeah thanks for the obvious suggestion.

 

And the latter has nothing to do with the real property value, especially a mixed property that contains a business and a residence with special allowances.

 

If you drive with a high blood alcohol limit over the speed limit and don't kill anyone should you be held accountable?

 

False analogy.

Driving drunk is the crime.

Getting a loan through a bank that approves the loan, and you pay it back, isn't.

That's why exactly zero other people in this country have ever been prosecuted for it.

 

But lying to the bank to get the loan is.

 

A victimless crime in the case. No one complained! See, I just made up a rule because I felt like it. Wawa go back to the drawing board - your silly point fails.

People have been prosecuted for fraud before, just not the orange god.

 

No one has ever been prosecuted by the state for a completed loan from an organization that didn't claim fraud.

You know it. You just don't care.

 

So tell us, what do you think KBB values ByStinkys Corvette at? And how much do you think it will go for on the auction block.. How much would you insure old ByStinkys Corvette for?

 

You don't lie to banks.

You tell them how much you feel your assets are worth.

The bank looks at the assets and decides how much they are worth to them.

The bank approves or disapproves the loan based on the assets offered as collateral and the reputation of the borrower.

Interest rates are based on the trustworthiness of the borrower. That's why I can walk into a bank and get the lowest possible interest rate.

That's of course not to mention that the bank has never claimed they were lied to.

The only persons claiming the banks were lied to were the prosecutor and judge that inserted themselves into a financial deal that both parties were satisfied with.

 

I feel not many here have assets To me, I wouldn't buy the Mona lisa, period! But apparently there is a retard out there willing to pay a BILLION to own it