Court Orders Dissolution of Trump Org

#101
#101
Franklin Pierce said:
This ruling comes just days before the trial begins and is in response to both Trump and James seeking summary judgment on the facts. When the bench trial starts, Judge Engoron will focus on deciding how much of the $250 million in restitution James has demanded Trump to pay.

In addition to the findings of fact, Engoron imposed a $7,500 fine on each of five members of Trump's legal team "to impress upon defendants’ attorneys the consequences of engaging in repetitive, frivolous motion practice after this court, affirmed by the appellate division, expressly warned them against doing so." He also revoked the business licenses of some of Trump's companies and ordered a receiver appointed to oversee the dissolution of those companies. Among those companies is Trump's flagship Trump Organization.

redstate.com

Judge Finds Former President Trump Engaged in Fraud; Orders Trump Organization Dissolved

redstate.com redstate.com
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Going after the lawyers? hat is something everyone should get behind.
 
#103
#103
Vol8188 said:
You don’t actually believe that do you? In 1985 he paid 10m for it and the judge was trying to say it’s only worth 18m based on the property tax assessor. Surely you see the problem with that? Property tax assessors constantly under value property
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A lot of people in NY better watch out if this is the new standard.
 
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#104
#104
hog88 said:
A lot of people in NY better watch out if this is the new standard.
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Especially if it’s true that this is not being brought by the banks nor the insurance companies as one poster stated here, but rather the DA is pushing civil charges?

Did he just have his team go through ever piece of paperwork trump has ever filed with the hopes of finding something? If so, that’s gross misconduct
 
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#105
#105
Septic said:
He listed maralago as a $738m property for collateral purposes. The highest real estate sales estimate for maralago was $73m (if it was divided up and sold for individual parcels). Which by the way could never happed due to deed restrictions. Ultimately, his "estimate" was a cat turd wrapped in a dog turd.
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If someone loaned him money based on that valuation then it’s worth $738 million.

Property is worth what someone is willing to pay or loan on it.
 
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#107
#107
I would imagine the banks also did their own independent assessment of the properties before agreeing to loan against them.

So who was the victim here?
 
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#109
#109
Vol8188 said:
Especially if it’s true that this is not being brought by the banks nor the insurance companies as one poster stated here, but rather the DA is pushing civil charges?

Did he just have his team go through ever piece of paperwork trump has ever filed with the hopes of finding something? If so, that’s gross misconduct
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why is the government making this a civil case if they believe he is guilty of fraud, which is criminal? especially if its tax related?

"Those tactics crossed a line and violated the law, the judge said, rejecting Trump’s contention that a disclaimer on the financial statements absolved him of any wrongdoing."
"Manhattan prosecutors had looked into bringing criminal charges over the same conduct but declined to do so, leaving James to sue Trump and seek penalties that aim to disrupt his and his family’s ability to do business."
“Today, a judge ruled in our favor and found that Donald Trump and the Trump Organization engaged in years of financial fraud,” James said in a statement. “We look forward to presenting the rest of our case at trial.”
"“A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote."

is there precedence for this?
 
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#110
#110
RockyTop85 said:
It’s not even the worst fraud judgment of the past 4 years. The one where he was just using his charity as a personal bank account was way more egregious conduct, IMO.
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Can you name any other time someone has had a civil case brought against them for overvaluing assets while applying for a bank loan?
 
#113
#113
It's pretty amazing to see how many guys on a sports forum show sympathy and support for a blatant cheater. Some are saying there are no victims here. What about the guy who may have had equal assets to Trump but couldn't get feasible interest and insurance rates because the other guy cheated.
 
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#114
#114
Hunerwadel said:
It's pretty amazing to see how many guys on a sports forum show sympathy and support for a blatant cheater. Some are saying there are no victims here. What about the guy who may have had equal assets to Trump but couldn't get feasible interest and insurance rates because the other guy cheated.
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Valid point... wouldn't each deal be independent upon others? Assets, credit rating, etc. A one size fits all approach doesnt work in property appraisal
 
#115
#115
whodeycin85 said:
A summary judgment is a decision made based on statements and evidence without going to trial. It's a final decision by a judge and is designed to resolve a lawsuit before going to court.

What am I missing??
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There are facts that everybody basically admits and the judge applies the law to those facts.
 
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#116
#116
Hunerwadel said:
What about the guy who may have had equal assets to Trump but couldn't get feasible interest and insurance rates because the other guy cheated.
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Banks independently verify claims. So what you’re claiming, simply isn’t a thing. If you and I have identical assets and I say I think mine is worth 3m and you say yours is worth 1m, the bank will still have someone come out and confirm our claims.

So it’s simply not a thing.
 
#118
#118
hog88 said:
If someone loaned him money based on that valuation then it’s worth $738 million.

Property is worth what someone is willing to pay or loan on it.
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No one is suggesting that the banks don't have a responsibility to vet the value of the collateral they accept - BUT them failing to do that has no bearing of him willfully and knowingly attesting to a value in which he knew wasn't remotely accurate.

You can keep deflecting to the banks, but it doesn't solve this problem. His fraud is as evident as their negligence. He is being held accountable and the banks shareholders should hold the banks leadership accountable.
 
#119
#119
Vol8188 said:
Banks independently verify claims. So what you’re claiming, simply isn’t a thing. If you and I have identical assets and I say I think mine is worth 3m and you say yours is worth 1m, the bank will still have someone come out and confirm our claims.

So it’s simply not a thing.
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Evidently they don't.
 
#123
#123
Septic said:
No one is suggesting that the banks don't have a responsibility to vet the value of the collateral they accept - BUT them failing to do that has no bearing of him willfully and knowingly attesting to a value in which he knew wasn't remotely accurate.

You can keep deflecting to the banks, but it doesn't solve this problem. His fraud is as evident as their negligence. He is being held accountable and the banks shareholders should hold the banks leadership accountable.
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If the loan is paid in full, agreed upon by both parties, where is the fraud??? That the judge and AG don't agree when it?? Items/property are valued at what someone whom pay...
 
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