A scam and a disgrace

[postman]

There is no correct way to respond to the State stealing your wealth because an accountant put an arbitrary number on a loan application where the loan was repaid in full and there were no victims.

Remember, they changed the law, making the CEO having to vouch for the accuracy of the financial statement, not the accountants.

And the victim was the bank making the loan. They were making a far far riskier loan then they thought by Trumps statements.

In one or more of Trumps many business bankruptcies, the banks lost money.

 

[kyzr]

Remember, they changed the law, making the CEO having to vouch for the accuracy of the financial statement, not the accountants.
And the victim was the bank making the loan. They were making a far far riskier loan then they thought by Trumps statements.
In one or more of Trumps many business bankruptcies, the banks lost money.

The bank's business is lending money to entrepreneurs.
The banks know the risks, they have appraisers.
With all of the real estate loans going on in NY, you would think that there would have been more property stolen than just the Trump holdings
Turley already said that the NY theft from Trump won't stand after appeals.

https://www.realclearpolitics.com/video/2023/11/06/turley_this_is_a_case_uniquely_created_for_trump_this_crosses_the_line_from_law_to_entertainment.html

"This crosses the line from law to entertainment. It should be concerning for people because it does appear that this is a case uniquely created for Trump under a law that hasn't been used in this same way against others"

 

[WorldWatcher]

There is no correct way to respond to the State stealing your wealth because an accountant put an arbitrary number on a loan application where the loan was repaid in full and there were no victims. It is also provable that the State has no clue what real property values are at any given time. Further, that the stipulation was that the lender was responsible to verify all numbers as part of their fiduciary responsibility.

There is no fucking way that Trump should have his wealth stolen by NY courts because they don't like his politics.

I understand the need to downplay the situation, then make a case against the downplayed scenario, but what you describe is not the situation.

The case isn't about an accountant making a mistake on a loan applications. We are talking high finance involving millions, hundreds of millions of dollars and the persistent fraudulent and illegal business practices of FPOTUS#45 and the Trump organization and purposefully lying on annual documents as part of those business transactions.

And no, you can't include a "Hey I'm lying to you clause" and call it even as that is worthless. Organizations are STILL required to use generally accepted accounting principals in creating the Statement of Financial Conditions which means you don't get to:

• Triple the size of properties over reality (Trump Tower penthouse),
• Value properties as those if those properties had buildings on them that didn't exists (Seven Springs),
• Value properties as if they were not rent stabilized (New York apartments) when in fact they were rent stabilized lowering their values
• Value property as if it was sub dividable and purposed for residential when in fact the property was deed limited to commercial use as a social club and could not be subdivided into smaller lots for sale and that the main property could not be developed in other ways because the existing buildings are classified as state and federal historic buildings.

That is not an accountant making a mistake, those are persistent and planned fraudulent activities.

WW

 

[mudwhistle]

Donald Trump the MAN was a sexual abuser, adulterer, and the CEO over his fraudulent enterprises.

You're confusing Biden with Trump.

 

[kyzr]

I understand the need to downplay the situation, then make a case against the downplayed scenario, but what you describe is not the situation.

The case isn't about an accountant making a mistake on a loan applications. We are talking high finance involving millions, hundreds of millions of dollars and the persistent fraudulent and illegal business practices of FPOTUS#45 and the Trump organization and purposefully lying on annual documents as part of those business transactions.

And no, you can't include a "Hey I'm lying to you clause" and call it even as that is worthless. Organizations are STILL required to use generally accepted accounting principals in creating the Statement of Financial Conditions which means you don't get to:

• Triple the size of properties over reality (Trump Tower penthouse),
• Value properties as those if those properties had buildings on them that didn't exists (Seven Springs),
• Value properties as if they were not rent stabilized (New York apartments) when in fact they were rent stabilized lowering their values
• Value property as if it was sub dividable and purposed for residential when in fact the property was deed limited to commercial use as a social club and could not be subdivided into smaller lots for sale and that the main property could not be developed in other ways because the existing buildings are classified as state and federal historic buildings.

That is not an accountant making a mistake, those are persistent and planned fraudulent activities.

WW

I can see fines for misrepresenting claims of property value, except its the lender's business to know their value and to do the "risk management" calculations before approving any loan. There is no fucking way that NY should declare war on Trump, run on "getting Trump" and then waste state resources taking on Trump in court. The simple facts are the lender needs to verify collateral values, and there is no fucking way that the state should take Trump's property when the State has no clue what the property values are. As Trump said there are no victims here. The lenders should have known the facts before lending, Caveat Emptor.

https://www.realclearpolitics.com/video/2023/11/06/turley_this_is_a_case_uniquely_created_for_trump_this_crosses_the_line_from_law_to_entertainment.html

"This crosses the line from law to entertainment. It should be concerning for people because it does appear that this is a case uniquely created for Trump under a law that hasn't been used in this same way against others"

 

[WEATHER53]

I worked in big money construction in Toronto for 30 years, and I have watched Donald Trump's career in construction, and been disgusted by his behaviour. The trail of economic destruction this man has left in his wake, knows no equal in American business history.

In big money construction, 15% of the invoices for work done, is held back until the project is certified by the Artchitect and the Municipality. This 15% is, in essence, the contractor's gross profit. The contractor has to pay for all of his labour and materials throughout the contruction period, but his operating costs are on his nickel until the project is certified.

These smaller contractors spend two years borrowing from the banks, and stalling their suppliers on their operating expenses, and then when they present their holdback invoice, Trump offers them 25 cents on the $1 that's owed. And then they spend 2 years in litigation trying to collect, while their bills continue to go unpaid.

Trump's excuses that their work was subpar are bullshit. The project was certified by the Architect and the municipality. The time to talk about workmanship was while the project was underway.

Anyone can google all of this stuff and see it happening over and over again. 60 Minutes did a report on this in the early 2000's - after his 4th bankruptcy in Atlantic City.

Yet another “I have direct personal experience” liar suddenly showing up with the affiliation to the topic at hand

 

[WEATHER53]

You dolts won’t know the difference but the 10k versus 30k condo you are pearl clutching about was Never a lien secured collateral property by any lender.
The state is mostly engaged in a speculative “what if” prosecution persecution.

 

[WorldWatcher]

You dolts won’t know the difference but the 10k versus 30k condo you are pearl clutching about was Never a lien secured collateral property by any lender.
The state is mostly engaged in a speculative “what if” prosecution persecution.

There was never a claim, that I'm familiar with, that there was a lean on the Penthouse in Trump Tower.

Ya'll keep trying to play this like it's a home loan, it not.

His penthouse in Trump Tower is listed as an asset on his Statement of Financial Condition. A legal document required as part of the investment portfolio, bank requirements, and insurance showing that he retained a certain degree of net worth to receive favorable rates from investors. By lying about the various properties he inflated his net worth and therefore obtained lower rates in an illegal manner.

WW

 

[lennypartiv]

That is not an accountant making a mistake, those are persistent and planned fraudulent activities.

Obviously you'll never be a successful businessman.

 

[WorldWatcher]

Obviously you'll never be a successful businessman.

Depends.

If you mean a small business providing goods and services? I'd do OK, I'd enjoy the operations side, however I'd hate the paperwork, accounting, and tax requirements side.

If you mean being born into a rich family, handed everything in life, including my father making a million are through fraudulent means (such as "All County Business and Supply"), then making a fortune through screwing the little guy, stealing from charities, and front fraudulent teaching programs (Ya, "Trump University" I'm pointing at you), and lying to investors? Ya, I'd never be a successful businessman in that realm, see I have honor.

WW