NY Judge Claimed MAL is Worth ~$18 Million - Everything the Judge Said in His Ruling Is a Complete Lie

[WorldWatcher]

They CAN be the same thing. No law says they can't.

Of course they "can" be.

But for legal purposes they are not.

If I sell my 3000 sq/ft Condo valued at $600,000 dollars to someone for $10,000,000 - that is fine. However if I tell the tax man that my 3000 sq/ft condo is 1000 sq/ft and worth 100,000 and then tell the bank I'm using it to secure a loan that it is a 10,000 sq/ft condo worth $10,000.000. That is illegal.

WW

 

[airplanemechanic]

White-Collar Crime​

Federal Bureau of Investigation (.gov)
https://www.fbi.gov › investigate › white-collar-crime
Corporate Fraud · False accounting and/or misrepresentations of financial conditions · Fraudulent trades designed to inflate profits or hide losses · Illicit ...

What was gained by this? He got loans that he paid off. Where is the crime ?

 

[Marener]

Then the banks in new york need to make claims against Trump. If they had no issues with it and all loans were paid, where exactly is the crime?

This question was raised by the Trump defense team. Unfortunately for them, the law in New York and binding precedent gives the state the authority to sue for these claims even when the banks don't.

 

[postman]

1. Since when does a New York judge have the authority to perform a property value assessment in Florida?
2. Where is the list of banks that have presented fraud alerts on Trump's loans or property values? I haven't found a single one.
3. List of loans Trump did not pay back? Can't find a single one.

Art of the spin: Trump bankers question his portrayal of financial comeback

Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.

www.reuters.com

Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.

Trump worked with the bankers to sell his assets, even when he disagreed about the timing of the sales, most notably when Citibank eventually sold The Plaza.

The banks did not recover 100 percent of what they were owed and several lenders vowed never to work with Trump again.

 

[Harpy Eagle]

What was gained by this? He got loans that he paid off. Where is the crime ?

You rob a bank, keep the money for a while and then give it back....no crime right since you gave it back?

 

[Godboy]

Of course they "can" be.

But for legal purposes they are not.

If I sell my 3000 sq/ft Condo valued at $600,000 dollars to someone for $10,000,000 - that is fine. However if I tell the tax man that my 3000 sq/ft condo is 1000 sq/ft and worth 100,000 and then tell the bank I'm using it to secure a loan that it is a 10,000 sq/ft condo worth $10,000.000. That is illegal.

WW

The tax man doesnt take suggestions from the owner for his valuations. That isnt a thing.

 

[airplanemechanic]

You rob a bank, keep the money for a while and then give it back....no crime right since you gave it back?

Not many bank robberies are prefaced with signed documents.

Are you ACTUALLY comparing a bank robbery with Trump obtaining loans from banks that the banks voluntarily gave him with which he has signed documents to prove it?

 

[Harpy Eagle]

Not many bank robberies are prefaced with signed documents.

and those signed documents are the problem, they were fraudulent. Did they help Trump get a better interest rate?

 

[Smokin' OP]

What was gained by this? He got loans that he paid off. Where is the crime ?

The issue is that some people don't.
THAT'S why they made bank and wire fraud, a law.

 

[Fort Fun Indiana]

Private valuations have put a value od $350 - $500 million on MAL.

Yet on Tuesday, an obviously incredibly biased NY judge claimed MAL was only worth ~$18 million.

Not only is this judge a fool, but he is evil and should be disbarred.

The judge cited Trumps own valuation.

Haha thread fail

 

[Smokin' OP]

Not many bank robberies are prefaced with signed documents.

A LOT of them contain a note.
They usually don't write them out on the counter.

Are you ACTUALLY comparing a bank robbery with Trump obtaining loans from banks that the banks voluntarily gave him with which he has signed documents to prove it?

SAME principle.
Submitting the note/document is a crime, either way.

 

[postman]

The tax men are ALWAYS wrong when it comes to the improvement values, and i dont believe they ever do financial value appraisals. The tax assessors dont actually do appraisals. They do mini appraisals that arent accurate.

Which is why companies like this one exist.

Maidenbuam Property Tax Reduction Group Case Study

Increased Revenue, Controlled Costs & Increased Profitability. Maidenbaum wins as we create a vision and business process for focused growth.

intersoftassociates.com

Maidenbaum Property Tax Reduction Group is the largest firm specializing in the reduction of residential property taxes (by reducing the home's assessment) ...

 

[postman]

The tax man doesnt take suggestions from the owner for his valuations. That isnt a thing.

It is a thing. Which is why companies like this one exist.

Maidenbuam Property Tax Reduction Group Case Study

Increased Revenue, Controlled Costs & Increased Profitability. Maidenbaum wins as we create a vision and business process for focused growth.

intersoftassociates.com

Maidenbaum Property Tax Reduction Group is the largest firm specializing in the reduction of residential property taxes (by reducing the home's assessment) ...

 

[Marener]

The tax man doesnt take suggestions from the owner for his valuations. That isnt a thing.

Again, it's not really about taxes. It's about financial statements to banks when seeing loans.

 

[Fort Fun Indiana]

The tax man doesnt take suggestions from the owner for his valuations. That isnt a thing.

So, has it crossed your mind that you don't know what the hell you are talking about, and the prosecutors and judge do?

 

[Godboy]

Which is why companies like this one exist.

Maidenbuam Property Tax Reduction Group Case Study

Increased Revenue, Controlled Costs & Increased Profitability. Maidenbaum wins as we create a vision and business process for focused growth.

intersoftassociates.com

Maidenbaum Property Tax Reduction Group is the largest firm specializing in the reduction of residential property taxes (by reducing the home's assessment) ...

Every legal complaint against the tax assessors in court is, "they overvalued my property, now my annual taxes are through the roof". No one ever sues for undervaluing because, the tax assessors values play no part whatsoever in a loan. No one uses the tax assessors appraisals for anything, other than paying taxes.

 

[WorldWatcher]

Every legal complaint against the tax assessors in court is, "they overvalued my property, now my annual taxes are through the roof". No one ever sues for undervaluing because, the tax assessors values play no part whatsoever in a loan. No one uses the tax assessors appraisals for anything, other than paying taxes.

Actually when we refinanced during COVID...

We didn't have to get a commercial appraisal, we just submitted the current tax assessment.

Since the loan value was well below the tax assessed value that was all we needed.

(And yes, our tax assessed value is well below what might be called "market value".)

WW

 

[Godboy]

Actually when we refinanced during COVID...

We didn't have to get a commercial appraisal, we just submitted the current tax assessment.

Since the loan value was well below the tax assessed value that was all we needed.

(And yes, our tax assessed value is well below what might be called "market value".)

WW

Thats wild! I guess COVID changed things temporarily. You lucked out there!

 

[WorldWatcher]

Thats wild! I guess COVID changed things temporarily. You lucked out there!

As I said, I'm pretty sure it was because of the Value / Loan ratio.

We refinanced at 2.7% and you could burn the house to the ground and just sell the lot and recover the full amount of the loan.

What it did was lower our P&I SIGNIFICANTLY and since we are still making the higher payments all the extra is going straight against the principle. Almost like making our 12 base payments plus an additional 24 against the balance. Technically, at minimum payments our loan goes out to 2049.

It means we'll pay off the house in just a couple of years right around the time we retire instead of 5 years later.

WW

 

[Admiral Rockwell Tory]

and those signed documents are the problem, they were fraudulent. Did they help Trump get a better interest rate?

Who signed the documents for the bank which had the wrong numbers? They enabled whatever fraud that may have occurred. The problem is that no one was defrauded. This is just another damned DEM witch hunt!