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New York attorney general files civil fraud lawsuit against Trump, some of his children and his business

PNWest

America's BEST American: Impartial and Bipartisan

'bout time.
I do not deny that Trump was and is a sleazy businessman. However what kind of morons or crooks were the loan officers and insurance underwriters who approved those loans and wrote those policies? Not to mention the state and Federal tax officials. Evidently Trump and no doubt many others were pulling the same shit for decades.
 

JohnJohnson

Council Member
Seems that Trump’s rabid cultists like him even more when his massive frauds are exposed….


Deplorable!
Who was defrauded and how? And if there actually was fraud why is there only a civil suit and no criminal charge?
 

RickWA

Senator
Who was defrauded and how? And if there actually was fraud why is there only a civil suit and no criminal charge?
No, no. You don’t understand. First Trump was allowed “self-valuation” of his assets (a thing that has never occurred ever in the history of loan-collateral assignment). Then he paid back those loans, so no one is out any money (absence of victim…let alone victim with “standing”). Therefore…municipal authorities must charge and prosecute civilly…for Trump qualifying for a lower interest rate than he should have gotten.

Yep. That’s where we are. Trump is certainly a scumbag, but his political enemies are completely INTOXICATED with hatred. Next up, some school crossing guard will charge Trump with crossing streets before the flag was dropped 70 years ago.

This is bloody retarded.
 

JohnJohnson

Council Member
No, no. You don’t understand. First Trump was allowed “self-valuation” of his assets (a thing that has never occurred ever in the history of loan-collateral assignment). Then he paid back those loans, so no one is out any money (absence of victim…let alone victim with “standing”). Therefore…municipal authorities must charge and prosecute civilly…for Trump qualifying for a lower interest rate than he should have gotten.

Yep. That’s where we are. Trump is certainly a scumbag, but his political enemies are completely INTOXICATED with hatred. Next up, some school crossing guard will charge Trump with crossing streets before the flag was dropped 70 years ago.

This is bloody retarded.
Bingo. This is why I'm asking this Bugsy character these questions to see if he realizes what he's being duped by.
 

Bugsy McGurk

President
No, no. You don’t understand. First Trump was allowed “self-valuation” of his assets (a thing that has never occurred ever in the history of loan-collateral assignment). Then he paid back those loans, so no one is out any money (absence of victim…let alone victim with “standing”). Therefore…municipal authorities must charge and prosecute civilly…for Trump qualifying for a lower interest rate than he should have gotten.

Yep. That’s where we are. Trump is certainly a scumbag, but his political enemies are completely INTOXICATED with hatred. Next up, some school crossing guard will charge Trump with crossing streets before the flag was dropped 70 years ago.

This is bloody retarded.
You’re such a hopelessly devoted Trump cultist that you actually defend his monstrous fraud.

Deplorable!
 

middleview

President
Supporting Member
I do not deny that Trump was and is a sleazy businessman. However what kind of morons or crooks were the loan officers and insurance underwriters who approved those loans and wrote those policies? Not to mention the state and Federal tax officials. Evidently Trump and no doubt many others were pulling the same shit for decades.
I worked as a department manager for a company in the late 1980s. We were purchased by Citibank. I saw the documents of our company assets that claimed amazing valuations for equipment. One example was $35,000 for 500mb disc drives which were used and actually worth about $1,000 each at that point, having been fully depreciated. I was stunned that the Citibank people didn't actually go through that list and check the numbers.

I also know of an individual who paid an appraiser for a higher estimate on his home. He did it several times and each time was refinancing his home at the high appraisal. He ended up with his $700k home appraised at nearly $900k. He was transferred and our company bought his home, since it obviously wasn't selling at that price. They discovered he'd lied. What happens to a VP who the company knows has ripped them off? He was put on graveyard shift in charge of 4 or 5 computer operators until he finally quit. Better that than paying him severance or pressing charges for fraud.
 

JohnJohnson

Council Member
You can ask me a thousand times. Or, you can read the complaint.
I've read it. I've read lots of analysis on it, too. I'll help you out since apparently you don't know what the suit says. It certainly contains inflammatory language intended to incite the masses. What it does not do, however, indicate who was defrauded and how. Banks give out loans after doing their own due diligence. If a borrower comes to them using property as collateral in order to obtain a loan then it's the bank's responsibility to determine if the loan request is appropriate based upon that value. The bank then either gives the loan or rejects it. I've heard the term predatory lending. This may be the first time in history it's been asserted that the borrower was preying on the bank.....especially considering there was no accusation of loan default. If a bank freely gives out a loan and the borrower pays it back in full plus interest it's an asinine assertion to say the bank was a victim or defrauded in any possible way. Every decent person should shun the though of even floating that idea.

And regarding inflating values of property for tax purposes.....well.....that makes no sense either. You'd want to suppress value of property in order to suppress tax burden. You certainly wouldn't want to increase it. And the whole thing regarding value is opinion anyways.

These are why no criminal charges were made. This is propaganda.
 
I've read it. I've read lots of analysis on it, too. I'll help you out since apparently you don't know what the suit says. It certainly contains inflammatory language intended to incite the masses. What it does not do, however, indicate who was defrauded and how. Banks give out loans after doing their own due diligence. If a borrower comes to them using property as collateral in order to obtain a loan then it's the bank's responsibility to determine if the loan request is appropriate based upon that value. The bank then either gives the loan or rejects it. I've heard the term predatory lending. This may be the first time in history it's been asserted that the borrower was preying on the bank.....especially considering there was no accusation of loan default. If a bank freely gives out a loan and the borrower pays it back in full plus interest it's an asinine assertion to say the bank was a victim or defrauded.

And regarding inflating values of property for tax purposes.....well.....that makes no sense either. You'd want to suppress value of property in order to suppress tax burden. You certainly wouldn't want to increase it. And the whole thing regarding value is opinion anyways.

These are why no criminal charges were made. This is propaganda.
Lying to the bank is fraud to obtain a loan is fraud.
 

JohnJohnson

Council Member
I worked as a department manager for a company in the late 1980s. We were purchased by Citibank. I saw the documents of our company assets that claimed amazing valuations for equipment. One example was $35,000 for 500mb disc drives which were used and actually worth about $1,000 each at that point, having been fully depreciated. I was stunned that the Citibank people didn't actually go through that list and check the numbers.

I also know of an individual who paid an appraiser for a higher estimate on his home. He did it several times and each time was refinancing his home at the high appraisal. He ended up with his $700k home appraised at nearly $900k. He was transferred and our company bought his home, since it obviously wasn't selling at that price. They discovered he'd lied. What happens to a VP who the company knows has ripped them off? He was put on graveyard shift in charge of 4 or 5 computer operators until he finally quit. Better that than paying him severance or pressing charges for fraud.
What do your stories.....true or fabricated.....have to do with the facts in this case?
 

JohnJohnson

Council Member
Lying is lying, bruh.
Valuation is largely opinion. The bank is responsible for determining if the request matches the valuation and if the loan is worth it. This is basic fact. Since when did the world turn upside down and black become white.? When left wingers started conspiring about Trump.

And even if one took the position that somehow Trump forced a bank to give him a loan worth more than property worth (which is obviously absurd) then the bank certainly would lose because the loan was paid in full plus interest. The bank made off better with the larger loan.

See how stupid you all sound?
 
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