Donald Trump hit where it hurts most in New York fraud ruling

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[–]ActuallyNot 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (5 children)

In NY at least, if you commit frauds that "leap off the page and shock the conscience", you get a penalised even if you're a presidential candidate.

[–]iamonlyoneman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

In reality, when leftoids say "it leaps off the page and shocks the conscience" we understand it actually doesn't though

[–]ActuallyNot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

Does valuing Mar-a-lago at $1 Billion for the bank, when a property valuer put in around $23 million, plus or minus $5 million, for tax purposes not jump at little bit?

I mean that's a 4300% inflated price.

Most people would at least notice.

[–]iamonlyoneman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

The bank is obliged to do their diligence when issuing financial products. Ergo, if they issued something based on that value, they agreed. I personally don't know much about the value of it, myself

[–]ActuallyNot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

The bank is obliged to do their diligence when issuing financial products.

Which is why it's fraud when you lie to them inflating you with in the financial statements that you give them.

Ergo, if they issued something based on that value, they agreed.

No, they don't go through every item on your balance sheet and get an independent valuation. If they did that, applying for a loan would cost millions.

I personally don't know much about the value of it, myself

The fraud on that property can be summarized as $17M is a long way from $1000M. You don't need to know what the value is, just how much he changed it depending on who was asking.

[–]iamonlyoneman 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I assume banks are lazy when giving away free money from heaven

k