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And where in that does it state that no appraisals were done by the bank? I see in the statements of a Doug Larson that he did in fact do several appraisals relating to pending loans. I also see statements of a David McArdle that HE did several appraisals relating to pending loans! Care to try again?It's noted in the judge's decision. He goes through the relevant testimony of each individual.
Page 9, the testimony of Nicholas Haigh.And where in that does it state that no appraisals were done by the bank?
You seem confused, Marener. Nicholas Haigh wasn't charged with valuations of property...his job was to make loans to high end customers based on their financial reputations. He wasn't looking at what Trump Tower was worth or what Mar A Lago was worth...he was determining what Donald Trump's personal guarantee on a loan was worth. That isn't something that is done by appraisals.Page 9, the testimony of Nicholas Haigh.
In deciding to approve the credit facility, Haigh relied on Donald Trump’s 2011 SFC and assumed that the representations of value of the assets and liabilities were “broadly accurate.” TT 1009-1010; PX 330. The Deutsche Bank Credit Report’s “Financial Analysis” is based on numbers provided by the “family office” (here, the Trump Organization) and contains the same numbers represented in the SFC. PX 293; TT 1010-1013.
So what we've determined is that appraisals were in fact done by appraisers hired by the bank. Correct?Page 9, the testimony of Nicholas Haigh.
In deciding to approve the credit facility, Haigh relied on Donald Trump’s 2011 SFC and assumed that the representations of value of the assets and liabilities were “broadly accurate.” TT 1009-1010; PX 330. The Deutsche Bank Credit Report’s “Financial Analysis” is based on numbers provided by the “family office” (here, the Trump Organization) and contains the same numbers represented in the SFC. PX 293; TT 1010-1013.
And I'm STILL waiting for you to provide a single example of a real estate developer being charged with fraud and hit with a massive fine for a loan that they paid back with interest and on time!Page 9, the testimony of Nicholas Haigh.
In deciding to approve the credit facility, Haigh relied on Donald Trump’s 2011 SFC and assumed that the representations of value of the assets and liabilities were “broadly accurate.” TT 1009-1010; PX 330. The Deutsche Bank Credit Report’s “Financial Analysis” is based on numbers provided by the “family office” (here, the Trump Organization) and contains the same numbers represented in the SFC. PX 293; TT 1010-1013.
Trump’s net worth was a significant concern to Haigh. Those valuations were a big part of his net worth.You seem confused, Marener. Nicholas Haigh wasn't charged with valuations of property...his job was to make loans to high end customers based on their financial reputations. He wasn't looking at what Trump Tower was worth or what Mar A Lago was worth...he was determining what Donald Trump's personal guarantee on a loan was worth. That isn't something that is done by appraisals.
Where did you determine that? The testimony I provided said they used Trump’s numbers.So what we've determined is that appraisals were in fact done by appraisers hired by the bank. Correct?
I never claimed to have any knowledge about any other such cases.And I'm STILL waiting for you to provide a single example of a real estate developer being charged with fraud and hit with a massive fine for a loan that they paid back with interest and on time!
Almost any deed restriction can be changed. Like Leary said in my link, better round up every property owner in the US....
The problem Trump has is that he misrepresented his properties to get the valuations he wanted.
Mar a Lago has deed restrictions. He ignored it
Apartments have rent control. He ignored it.
Seven Springs has an easement. He ignored it.
These are material facts discarded to get a higher valuation.
They didn't have to. They trusted him to repay the loan because of his credit history. Trust me, if he were a new customer they would have checked every item.The banks did not independently appraise every property on Trump’s financial statement. The banks testified they used Trump’s numbers and thought he was being honest.
What the banks do or don’t do isn’t relevant to the crime.
When the deed restrictions are changed, then it can be incorporated into the CURRENT fair market value.Almost any deed restriction can be changed. Like Leary said in my link, better round up every property owner in the US...
I don't trust you. If they trusted him to repay the loan because of his credit history (which is far from pristine), they wouldn't have required the statement of financial condition and a personal guarantee and covenants.They didn't have to. They trusted him to repay the loan because of his credit history. Trust me, if he were a new customer they would have checked every item.
That is wrong. Any property owner worth his salt will always calculate "highest and best use". This was just the judges way of getting Trump.When the deed restrictions are changed, then it can be incorporated into the CURRENT fair market value.
The judge already discussed this.
Standard operating procedure for a loan.I don't trust you. If they trusted him to repay the loan because of his credit history (which is far from pristine), they wouldn't have required the statement of financial condition and a personal guarantee and covenants.
It's not. It's the definition of current.That is wrong. Any property owner worth his salt will always calculate "highest and best use". This was just the judges way of getting Trump.
It's not. Personal guarantees are not standard procedures. That's for sure.Standard operating procedure for a loan.
It is the current value.It's not. It's the definition of current.
