So I was asked to explain to someone yesterday what, exactly they are trying Donald Trump for in his supposed Fraud trial in New York. I couldn’t fully answer, as I am not really sure.
The claim, as I understand it, is that he somehow inflated the value of his holding and used that inflated value to get loans from lenders…Which is, as I see it, not a crime as the value of a property is somewhat fluid, depending on who you ask. In all of my business dealings (admittedly small change compared to the Trump empire….like maybe a rounding error at best) the lender has always done their own evaluation of the value of the property or holding that I wished a loan on, and they made their own determination as to what that value was and made loans based on THEIR determination. As far as can determine, there were no loans for properties that Mr Trump did not own, so what, exactly is the fraud?
Also, I cannot find a victim even if fraud was somehow perpetrated. As far as I can determine, all of the loans were paid off and/or are not at this time in default.
So no crime and no victim and no damage. What, exactly, is on trial in New York?
Besides political ambition, I mean.
Anyone care to explain?
Owner comes to bank and applies for a $25,000,000. loan either to purchase or to remodel a property he owns. Bank says sure as long as the value is there. The Bank, not the borrower orders the appraisal. Appraiser must be well versed in retail property and values along with schooling and licensing. The appraiser goes out, looks, measures, takes pictures and consults with other properties in the area. He arrives at final value which he then gives to the bank. The bank then determines, based on the value how much of a loan amount they will give him. The only part the borrower plays is applying for the loan. But always remember the bottom line of any value is Location, Location, Location.
It’s a warped and twisted application of the NY Consumer Fraud Protection statute – used against the consumer (President Trump). In Lawfare, the process is the punishment, as the case won’t stand up on appeal, but they’ll sure generate some headlines going into the election season.
Even if Trump flat-out LIED about the value of his holdings, the BANK ACCEPTED that value and GAVE HIM THE LOAN! THERE.IS.NO.THERE.THERE.
There was no crime or fraud. This is all just an excuse for a leftist judge and prosecutor to persecute Trump. Trump just asked for a delay in the trial proceedings because his mother in law just passed away. The evil judge denied the request. This is nothing but blatant lawfare where the criminal left is using the legal system as a weapon against Trump.
not only that, but the banks all testified that they were happy with the deal and made more money thanks to the valuations.
I don’t understand the charges either. Every one who is attempting to sell an item prices it for their gain – they aren’t giving it away. It is up to the BUYER TO DETERMINE IF IT IS WORTH THE PRICE. Buyer Beware – that sort of thing.
it’s a shame more Americans aren’t privy to such COMMON SENCE .