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New York AG sues Trump and family, alleging massive fraud

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Trump had fought efforts to force his deposition in the NY AG’s case, but lost a series of court challenges on the issue. When he finally appeared for questioning last month, he invoked his Fifth Amendment right against self-incrimination more than 440 times, an aide to James said.

 

The only thing I found surprising about it is that we finally figured out a way to get Trump to shut up and stop lying.

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Pure politics!  NY Attorney General inserting herself in commercial transactions to find a crime.  Lender responsibility to vet collateral. That's not fraud.   If a bank is going to lend you money, they do their own appraisals. What you say it's worth really is irrelevant.

Edited by augustus
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https://truthsocial.com/users/realDonaldTrump/statuses/109037444657827753

https://truthsocial.com/@realDonaldTrump/posts/109037487795849600

This was AG James' big multi-year criminal investigation. And what came out of it? Another political harassment civil lawsuit I could file with no problem.

In other words, she has nothing.

Everyone knows she's an incompetent political hack and a racist bigot that hates the Constitution.

BoZo

 

 

 

 

Edited by BOZO T CLOWN
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This has to be a big Monty Python skit.  A Democrat announces breathlessly that they are going after Donald Trump on _____ (fill in the blanks).  Then, either they botch it, or they end up creating a bigger scandal that points back at them.  Like Ukraine payoffs and Hunter Biden job scam, the Russian Collusion scam.   If Trump is as corrupt as it seems, why is it so hard to get him?  Maybe the Democrats are just losers.

Edited by augustus
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So we are to believe DJT scammed the IRS, dozens of big banks/lenders with their armies of accountants, appraisers and lawyers, plus Big Accounting and Big Law for years. Nevertheless, the geniuses in the NY AG office have figured it out...like they've figured out how to reduce street crime.......LMAO.

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1 hour ago, augustus said:

Pure politics!  NY Attorney General inserting herself in commercial transactions to find a crime.  Lender responsibility to vet collateral. That's not fraud.   If a bank is going to lend you money, they do their own appraisals. What you say it's worth really is irrelevant.

 

1 hour ago, BOZO T CLOWN said:

https://truthsocial.com/users/realDonaldTrump/statuses/109037444657827753

https://truthsocial.com/@realDonaldTrump/posts/109037487795849600

This was AG James' big multi-year criminal investigation. And what came out of it? Another political harassment civil lawsuit I could file with no problem.

In other words, she has nothing.

Everyone knows she's an incompetent political hack and a racist bigot that hates the Constitution.

BoZo

 

 

 

 

Get out your checkbooks, your hero is going to be needing whatever you can send.

The NY AG's revelations have made a big enough wound for the IRS to smell blood in the water, and when the IRS starts serious digging, Trump's deep-pocket donors will scatter lest the IRS starts following money trails.

 

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Time for the GOP to take a lesson from Dem playbook. Sue all major democrats with frivolous lawsuits. Just to get the headline and provide a distraction.

Time Repubs start using the lawfare nukes and remind Dems what mutually assured destruction really looks like.

A metaphor for our times --

White. Male. Conservative. Substance, validity.

Black. Female. Liberal. Irrelevance; theatre.

Totally predictable.

~ BoZo

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1 hour ago, sync said:

Get out your checkbooks, your hero is going to be needing whatever you can send.

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2 hours ago, BOZO T CLOWN said:

Everyone knows she's an incompetent political hack and a racist bigot

Quote

A metaphor for our times --

White. Male. Conservative. Substance, validity.

Black. Female. Liberal. Irrelevance; theatre.

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Spoiler alert:  Bozo drank it three times.  Even most clowns can't do that.

Edited by stevenkesslar
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The imbecilic and idiotic NY AG  doesn’t understand one single thing about banking. But any twelve people off the street would. And will.

Banks must independently appraise loan collateral. Federal and state banking regulators require it. What a borrower says the collateral is worth means nothing and isn’t even considered. The bigger the borrower, the more stringent the requirements. There’s no way around it.

She is accusing them of overvaluating, not undervaluating. Her insane accusation ignores the fact that banks do their own evaluations before lending money.

Letitia is a joke.

~ BoZo

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48 minutes ago, BOZO T CLOWN said:

Letitia is a joke.

And that's putting it mildly.  She ran for office campaigning to get Trump.  She has no credibility. She needs to stick to her day job and focus on reducing skyrocketing violent crime in NY. It has proliferated under her watch.  Is this a case of a purely political move by a New York Democrat/ Never Trumper to garner public attention?  Absolutely.

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Were there any parties harmed by the actions alleged by Ms. James? If so, who are they and why aren't they filing their own lawsuits if there was so much manipulation of the property valuations? These would have to be very large lenders if 9-figure loans are in play. They certainly have the resources to both do their own valuations and to go to court if needed. This suit is just political.

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1 hour ago, BOZO T CLOWN said:

The imbecilic and idiotic NY AG  doesn’t understand one single thing about banking. But any twelve people off the street would. And will.

Banks must independently appraise loan collateral. Federal and state banking regulators require it. What a borrower says the collateral is worth means nothing and isn’t even considered. The bigger the borrower, the more stringent the requirements. There’s no way around it.

She is accusing them of overvaluating, not undervaluating. Her insane accusation ignores the fact that banks do their own evaluations before lending money.

Letitia is a joke.

~ BoZo

 

55 minutes ago, augustus said:

And that's putting it mildly.  She ran for office campaigning to get Trump.  She has no credibility. She needs to stick to her day job and focus on reducing skyrocketing violent crime in NY. It has proliferated under her watch.  Is this a case of a purely political move by a New York Democrat/ Never Trumper to garner public attention?  Absolutely.

 

23 minutes ago, BnaC said:

All the tete a tete notwithstanding, I’m still trying to understand how the AG advances a charge on a civil matter without the grievance of an injured party.  Do any of our lawyers have insight?  @bigjoey?

It might be appreciated if you all sent the Donald a text telling him to relax and that there is nothing for him to worry about.  😆

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32 minutes ago, pitman said:

The hysterical reactions by Trump and his supporters confirms that Leticia James is onto something significant.

btw, it is not the job of the NY Attorney General (or the AG of any other state) to prosecute street crime.

OK, so repeating posts I made early last year, let me tell you how this is going to play out for the defense.

1) They're going to pull out Forbes articles written over the last 30 years highlighting how much trump overstates his assets and net worth - primarily relying on the intangible value of his "brand"...nobody took his valuations seriously.

2) Then they're going to pull out the files of the banks, insurance companies, etc that are going to show the valuations they actually used in underwriting related transactions...I'm pretty sure that it will be found to be an internally derived valuation based on their own assessment and supported by a number of independent sources including appraisers, engineers, leasing agents...and applying various stress assumptions to the inputs.

3) Then, the world will see that no one relied on the valuation except the AG in a two year long witch hunt - and if this is what they found, then the taxpayers of NY should be pissed at the waste of resources.    And here's a hint - public sector attorney's don't tend to have good business insight...

 

On 2/23/2021 at 12:23 AM, BnaC said:

1) in banking transactions, value (by law) is established with appraisals independently engaged within the bank

2) Trump has been publicly mocked for decades for overvaluing his assets. I believe 15-20 yrs ago, Forbes even devoted an article to it...including his over reliance on “brand” is asserting his net worth. But no one believes a borrower’s assertion of value in a bank deal anyway

3) real estate valuation is the closest thing to simple math out there. That is, if you have the inputs of property condition, net cash flows from rent, and an opinion of the appropriate cap rate within a given range, then anyone can pretty much do the math for themselves.

so, exactly how might this constitute bank fraud?

On 2/23/2021 at 3:09 AM, BnaC said:

...I’m still curious to see what the OP’s insight on linking overvaluing of properties to bank fraud when federal regs require that bank underwriting be based on independent engagement and review of real estate values by financial institutions. The regs governing this have been around for 30 years or so with periodic updates

https://www.fdic.gov/regulations/laws/rules/5000-4800.html

In short, any borrower could say their property is worth a trillion $, but until it’s appraised and that appraisal is independently reviewed, then the borrower’s assertion on value is irrelevant.

Just sayin'....I think you might be surprised if you think that this is anything more than a sound byte...I've still not heard mention of an injured party in this.

 

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More bad news for Trump.

A three judge panel on the 11th Circuit (two of them Trump appointees) unanimously ruled that DOJ must be allowed to use the classified documents stolen by Trump in their criminal investigation.  This comes a day after Trump's hand-picked "special master" shot down the flimsy declassification arguments put forward by Trump's lawyers.  The rulings themselves are not that surprising, but the speed with which they were handed down is unusual.  These judges clearly saw a need to rapidly shut down the circus created by the ludicrous rulings issued by Aileen Cannon.  Two major victories for the DOJ, and for the rule of law.

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4 hours ago, BOZO T CLOWN said:
A metaphor for our times --

White. Male. Conservative. Substance, validity.

Black. Female. Liberal. Irrelevance; theatre.

Totally predictable.

~ BoZo

Racism aside, If by "White. Male. Conservative." you mean Trump's hand-picked special master Raymond Dearie, I agree.

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4 hours ago, pitman said:

The hysterical reactions by Trump and his supporters confirms that Leticia James is onto something significant.

She's onto nothing.  You dems have been onto something with Trump for 6 years and it all falls apart ha ha ha ha ha.   It's just pathetic.  Like the dems giving Trump backed candidates $40 million this year.  How pitiful.  

Edited by augustus
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5 hours ago, BnaC said:

Then, the world will see that no one relied on the valuation except the AG in a two year long witch hunt - and if this is what they found, then the taxpayers of NY should be pissed at the waste of resources.    And here's a hint - public sector attorney's don't tend to have good business insight...

It's all nonsense.  She says she will refer this to the prosecutors when the Southern District of NY already examined this stuff a year ago and found no basis for a criminal prosecution.

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8 hours ago, augustus said:

It's all nonsense.  She says she will refer this to the prosecutors when the Southern District of NY already examined this stuff a year ago and found no basis for a criminal prosecution.

This particular issue is a headline grab so this particular state official can feel like they’ve done something to earn street cred 

That makes her not much different than the Viking man from Jan 6’s tour of the capitol 

Edited by BnaC
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