Valuing Assets - What Trump Prosecutors Do Not Understand

[dudmuck]

And how much land is it on, tard?

And is it right on the water?

 

[lantern2814]

They are not suing.

No they aren’t. Because no fraud took place.

 

[The Duke]

They're not going to get it. They're going to believe what they're supposed to believe. They cannot give an inch, they cannot admit a thing.

I'm sure they have an excuse for his claim that his Trump Tower Triplex is 30,000 sq ft instead of the actual 10,996 square feet, or the other ridiculous lies he's told to get other people's money. Maybe it was a typo, or New Math, or the Metric System, or the commies. But I don't want to hear it.

This is a cult.

It's a supermajority of Americans tired of YOUR brand of patronizing bullshit, you stupid fuck.

Keep on rolling down that dead end road full throttle like you are, it's what you deserve.

 

[lantern2814]

Yeah yeah yeah....of course!

Lying isn't lying.

Cheating isn't cheating.

Fraud isn't fraud....

I got ya.....

So where are all the banks and insurance companies claiming fraud? There are none. Because it never happened.

 

[lantern2814]

NO ONE IS SAYING THAT.....but Trumpers.

Of course the Trump brand can give a higher value, and this is always legally considered.


BUT THAT IS NOT WHAT HAPPENED AND NOT THE FRAUD TRUMP COMMITTED.

GOT IT?

what Trump and his team did was outright lie and deceive to give his different assets a higher value.

He lied and said his Trump Tower apartment that he lived in was 30,000 square instead if the 10,000 square feet that it was, to fraudulently raise its value.

He left out important conditions that devalued his assets, like Mara Lago can NEVER be sold as a single family dwelling, only a hotel, limited by the rooms that can be rented, all under his deed with the city.....

He over valued property he owned and what it was worth by leaving out the special condition of the apartment building....like being rent controlled vs the ability to raise rents....

There are a gazillion other instances where he flat out, pre planned his fraud and committed fraud.

This is not about his property being over valued or valued more, because of the TRUMP Brand name.....and anyone telling you that this is what this trial is about is a LIAR AND DECEIVER.

No moron. The only liar here is YOU. As always.

 

[Care4all]

Makes no difference what he said, no bank is going to take a borrower’s word for what their property is worth.

The Trump Org hired a prestigious Accounting firm, that submitted certified Special Financial Condition forms to the bank, SFCs, listing the Special Conditions for the various Trump properties he was using as assets to help him qualify for the mega million dollar loans he was applying for and qualify for a better interest rate, than would have taken place, without all of the lies of over evaluations for these Special Conditions, that were fraudulently conjured up.

Like claiming the apartment complex, was NOT a rent controlled apartment complex so he could raise rents each year which would make it valued much more than a rent controlled apartment every proceeding year.

These were devised schemes to deceive, of which the AG has emails and paper trails for these different schemes by Trump Org employees and the Trump Crime Family...

They then left out information, or made false claims, when they turned over these special conditions to the Accounting firm, that signed off on the SFC forms with the bank for the Trump Crime Family.

When Letitia James exposed this, the Accounting firm, who claims they were lied to by the Trump Crime Family, has severed all ties with them.

How do you know what the Sq.Ft. of his apartment is

Easy Peasy....the Deed, the Town Tax Assessor Office, the City Council etc etc etc....shoot, Zillow probably lists it!!! Same with Realtor.com

 

[toobfreak]

Best of FT Money 2023: Trump is right on asset prices

Valuation is more an art than science

www.ft.com

Great article.

 

[Leo123]

The Trump Org hired a prestigious Accounting firm, that submitted certified Special Financial Condition forms to the bank, SFCs, listing the Special Conditions for the various Trump properties he was using as assets to help him qualify for the mega million dollar loans he was applying for and qualify for a better interest rate, than would have taken place, without all of the lies of over evaluations for these Special Conditions, that were fraudulently conjured up.

The bank apparently felt that the collateral was sufficient.

Like claiming the apartment complex, was NOT a rent controlled apartment complex so he could raise rents each year which would make it valued much more than a rent controlled apartment every proceeding year.

These were devised schemes to deceive, of which the AG has emails and paper trails for these different schemes by Trump Org employees and the Trump Crime Family...

They then left out information, or made false claims, when they turned over these special conditions to the Accounting firm, that signed off on the SFC forms with the bank for the Trump Crime Family.

When Letitia James exposed this, the Accounting firm, who claims they were lied to by the Trump Crime Family, has we ever all ties with them.

So, you are claiming that the bank knew nothing of rent controls? How dumb can you be? The bank would already know that. The accounting firm probably signed off because they knew the information was correct. What does Leticia know about NY Real Estate?

Easy Peasy....the Deed, the Town Tax Assessor Office, the City Council etc etc etc....shoot, Zillow probably lists it!!! Same with Realtor.com

As a licensed professional Real Property Appraiser of over 25 years now, I can tell you that I have seen deeds, tax assessor documens, Zillow and even Realtors get Sq.Ft. wrong. I had many jobs where my measured sq.ft. (GLA) was vastly different than those entities. Especially builders whose building plans did not match what I found on site.

Trump didn't defraud anyone and the loans went through and no one lost money. In fact, if Trump's GBA was MORE the Tax Assessor would be quite happy to raise the assessment.

 

[Rambunctious]

I guess no one has told you the Trump brand is dogshit.

Hereâs Every Trump Property Thatâs Dropped His Name

Central Park ice rinks ditch Trump name, joining a mix of residential building and hotels.

www.forbes.com

Trump name coming off golf course in Bronx in deal with Bally's

Trump Golf Links at Ferry Point has been the subject of a legal battle with the City of New York following the January 6 insurrection at the U.S. Capitol.

abc7ny.com

The Upper West Side’s Banishment of ‘Trump’ on Buildings Is Almost Complete (Published 2019)

The last two buildings in the Riverside complex that once bore the president’s name have voted to remove it.

www.nytimes.com

All the places that have removed Donald Trump's name since he won the presidential election in 2016

Donald Trump owns many properties around the world, from hotels to golf courses to ice rinks — but some no longer bear his name.

www.businessinsider.com

Trump had a number one TV show and the best golf course in America and he ran the Miss America beauty pageant... so take your sour grapes and lick your wounds and go cry me a river.... stupid blind TDser....

 

[Care4all]

The bank apparently felt that the collateral was sufficient.


So, you are claiming that the bank knew nothing of rent controls? How dumb can you be? The bank would already know that. The accounting firm probably signed off because they knew the information was correct. What does Leticia know about NY Real Estate?


As a licensed professional Real Property Appraiser of over 25 years now, I can tell you that I have seen deeds, tax assessor documens, Zillow and even Realtors get Sq.Ft. wrong. I had many jobs where my measured sq.ft. (GLA) was vastly different than those entities. Especially builders whose building plans did not match what I found on site.

Trump didn't defraud anyone and the loans went through and no one lost money. In fact, if Trump's GBA was MORE the Tax Assessor would be quite happy to raise the assessment.

He persistently committed fraud, by lying on certified forms, that the bank relied on.... Year after after year..... Not by mistake, not by a simple exaggeration.

This is what THE EVIDENCE SHOWED.... In court.

Your made up fictional story does not meet muster, nor was shown to be true in court. The end.

Trump can appeal the court ruling or punishment.

 

[Leo123]

He persistently committed fraud, by lying on certified forms, that the bank relied on.... Year after after year..... Not by mistake, not by a simple exaggeration.

This is what THE EVIDENCE SHOWED.... In court.

Your made up fictional story does not meet muster, nor was shown to be true in court. The end.

Trump can appeal the court ruling or punishment.

He persistently committed fraud, by lying on certified forms, that the bank relied on.... Year after after year..... Not by mistake, not by a simple exaggeration.

This is what THE EVIDENCE SHOWED.... In court.

Your made up fictional story does not meet muster, nor was shown to be true in court. The end.

Trump can appeal the court ruling or punishment.

You're just parroting James' false claims. Who got hurt in this transaction? Who was defrauded? How much money was lost?

 

[cnm]

No they aren’t. Because no fraud took place.

The judge has ruled otherwise. Trump is liable for fraud.

I will accept the judge's version of reality over yours.

 

[The Duke]

The judge has ruled otherwise. Trump is liable for fraud.

I will accept the judge's version of reality over yours.

That judge is trying to do unConstitutional things. Did he take an oath of office?

 

[SavannahMann]

Best of FT Money 2023: Trump is right on asset prices

Valuation is more an art than science

www.ft.com

The NY fraud trial is tantamount to getting a pee-wee football team together and putting them on a baseball diamond to play the Braves. Neither Letitia James nor the judge know what the fuck they are doing substantively in this case. To make matters worse, they are sub-par people.

First. Nonsense.

Second. Let’s say I have a Diamond Ring. I wonder what it is worth. I take it to a Jeweler and have him assess the value. The Jeweler writes up a report. The metal is X amount of gold at this quality. The diamond is Y number of carets and of Z quality with these types of flaws or scores.

The value is based upon the estimated sales amount using his or her experience.

Now I haven’t been following the Real Estate case in New York. But my understanding is that the Prosecutor showed that the property was drastically overvalued in loan applications and such. The Trump Defense should have been a breeze. Like the woman getting her inherited jewelry assayed the paperwork should have been around. The third party experts who said that it was worth this much for these reasons.

The Real Estate version of Antique Road Show.

Now as I understand it the Trump Defense was a bit arrogant. It’s worth this much because I say it is and I’m a Real Estate Genius.

Now think back to the Enron Scandal. People were outraged at Enron for the Fraud. They were equally furious at Arthur Anderson, the firm that was supposed to do the Audit to catch such things years before it collapsed the entire company.

Third party assessments and ratings are normal and even mandated by law in many instances. Banks and Brokerages get third party ratings. And yes. Third Party dropping the ball on honest evaluation of bonds was a contributing factor for the Housing Meltdown in 2008.