You do realize like the Russian collusion story Democrats don't care if it's true as long g as it makes headlines.....they don't have to justify the news...
So, Trump owes $450M
- Thread starter Soaring Eagle 74
- Start date
Anatomy of a scam. That's what anyone who's unbiased would call the New York State case against Trump for allegedly "defrauding" his lenders by understating the value of his properties used as collateral to obtain business loans. Keep in mind, not one bank loan was ever "defaulted" on. Not one loan repayment was missed. Lenders didn't lose one penny writing loans to any Trump entity.
So the honest and logical question is: Where's the "fraud"? New York State Law defines it as this:
(from People of State of New York v Donald Trump)
pp2 Executive Law Section 63(12)
"In Laws of 1965, Chapter 666, the definitions of the words “fraud” and “fraudulent” were expanded to include “any device, scheme or artifice to defraud and any deception, misrepresentation, concealment, false pretense
[sic], false promise or unconscionable contractual provisions.”
So according to the Laws of New York State, Trump is guilty of "making false promises or unconscionable contractual provisions" in his loan deals.
Again folks...HE PAID BACK EVERY PENNY HE OWED AND NOT ONE BANK LOST A DIME LENDING TO HIM!
OK fine. So then one naturally asks...why was he convicted of fraud and ordered to pay over 300 million in damages? Good question. The answer comes down to how the plaintiff in this case (New York AG Leticia James) believes Trump didn't pay enough in interest rates on his loans. No joke, that's her case! She claims by him undervaluing the properties he used as collateral to obtain the loans, he defrauded his lenders money they otherwise would have realized had he valued the properties at higher amounts thus allowing them to charge larger amounts for interest. 😲
Wait...it gets better, and I'll show you how in other posts. However I just wanted to set the stage for this scam, so you'll better understand how absolutely maniacal these Lawfare Leftists are trying to get Trump no matter what.
more later....
*editor's note (I spent three hours Saturday evening following the basketball drubbing v Baylor reading the entire complaint and summary judgement. I'll be quoting extensively from that in my subsequent posts making the point what a scam this whole trial was. For those interested, you can read a copy of the complaint/order here)
New York fraud ruling
So the honest and logical question is: Where's the "fraud"? New York State Law defines it as this:
(from People of State of New York v Donald Trump)
pp2 Executive Law Section 63(12)
"In Laws of 1965, Chapter 666, the definitions of the words “fraud” and “fraudulent” were expanded to include “any device, scheme or artifice to defraud and any deception, misrepresentation, concealment, false pretense
[sic], false promise or unconscionable contractual provisions.”
So according to the Laws of New York State, Trump is guilty of "making false promises or unconscionable contractual provisions" in his loan deals.
Again folks...HE PAID BACK EVERY PENNY HE OWED AND NOT ONE BANK LOST A DIME LENDING TO HIM!
OK fine. So then one naturally asks...why was he convicted of fraud and ordered to pay over 300 million in damages? Good question. The answer comes down to how the plaintiff in this case (New York AG Leticia James) believes Trump didn't pay enough in interest rates on his loans. No joke, that's her case! She claims by him undervaluing the properties he used as collateral to obtain the loans, he defrauded his lenders money they otherwise would have realized had he valued the properties at higher amounts thus allowing them to charge larger amounts for interest. 😲
Wait...it gets better, and I'll show you how in other posts. However I just wanted to set the stage for this scam, so you'll better understand how absolutely maniacal these Lawfare Leftists are trying to get Trump no matter what.
more later....
*editor's note (I spent three hours Saturday evening following the basketball drubbing v Baylor reading the entire complaint and summary judgement. I'll be quoting extensively from that in my subsequent posts making the point what a scam this whole trial was. For those interested, you can read a copy of the complaint/order here)
New York fraud ruling
So to recap here folks...NY Attorney General Leticia James alleges Trump "defrauded" his lenders (and by extension the people of New York State) by deliberately and consistently undervaluing his various real estate holdings which were used as collateral to obtain large business loans for his enterprises.
Here is her basic allegation:
(from people of State of New York v Donald Trump... Summary)
"The lenders required personal guarantees from Donald Trump, which were based on statements of financial condition compiled by accountants that Donald Trump engaged. The accountants created these
“compilations” based on data submitted by the Trump entities. In order to borrow more and at
lower rates, defendants submitted blatantly false financial data to the accountants, resulting in
fraudulent financial statements.
Understand this charge. James alleges Trump purposefully hid the true value of his assets offered as collateral for the loans so he wouldn't be charged higher interest rates, and thus could borrow more money at lower rates. So my question is, how does she know this? Even if it were true, what business is it of the people of the State New York what Trump was paying his private lenders in terms of interest rates especially and particularly if the lenders themselves were satisfied that the assets being offered were adequate to cover the loans they were underwriting? Again, NO BANK LOANS DEFAULTED, NO ONE MISSED ANY REPAYMENTS, ALL LOANS WERE PAID BACK IN FULL WITH INTEREST.
That last point in bold bears emphasis because in order to prove fraud, someone had to prove a loss right? You'd think? Well, no one did! In fact, the only person alleging fraud and claiming a loss here (for the taxpayers no less) is this rouge DA Leticia James! OK fair enough...so how did she attempt to prove her case? More importantly, how did she come up with the outrageous figure of almost 400 million dollars in damages Trump's been ordered to "re-pay" as a result of his alleged blatant dishonesty obtaining the low interest loans?
You won't believe it when I show you...but seeing is believing.
...more later
Here is her basic allegation:
(from people of State of New York v Donald Trump... Summary)
"The lenders required personal guarantees from Donald Trump, which were based on statements of financial condition compiled by accountants that Donald Trump engaged. The accountants created these
“compilations” based on data submitted by the Trump entities. In order to borrow more and at
lower rates, defendants submitted blatantly false financial data to the accountants, resulting in
fraudulent financial statements.
Understand this charge. James alleges Trump purposefully hid the true value of his assets offered as collateral for the loans so he wouldn't be charged higher interest rates, and thus could borrow more money at lower rates. So my question is, how does she know this? Even if it were true, what business is it of the people of the State New York what Trump was paying his private lenders in terms of interest rates especially and particularly if the lenders themselves were satisfied that the assets being offered were adequate to cover the loans they were underwriting? Again, NO BANK LOANS DEFAULTED, NO ONE MISSED ANY REPAYMENTS, ALL LOANS WERE PAID BACK IN FULL WITH INTEREST.
That last point in bold bears emphasis because in order to prove fraud, someone had to prove a loss right? You'd think? Well, no one did! In fact, the only person alleging fraud and claiming a loss here (for the taxpayers no less) is this rouge DA Leticia James! OK fair enough...so how did she attempt to prove her case? More importantly, how did she come up with the outrageous figure of almost 400 million dollars in damages Trump's been ordered to "re-pay" as a result of his alleged blatant dishonesty obtaining the low interest loans?
You won't believe it when I show you...but seeing is believing.
...more later
I'm still working on this folks, but have to retire so I can get up @4:30 am, do my Prayers, then take my morning walk before heading off to find more asses to fill some of the empty seats sitting on our lot. I promise I'll break down some more "expert" testimony offered by the plaintiff alleging Trump fraudulent activity, as well as Trump's counter arguments that he did nothing wrong or illegal. (he didn't btw)
More tomorrow....
More tomorrow....
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I don't have time right now, but later I'll quote some of the absolutely asinine arguments this New York prosecutor and her "handpicked" witnesses made trying to prove Trump was fraudulent in making these various loans. I swear @roadtrasheer it's some of the most off-the-wall caca you can imagine! I'm surprised this case was even allowed to go to trial, but we all know what's really going on here. Doesn't matter, I honestly believe it gets overturned on appeal as most of these other "Lawfare" cases are either falling apart under their own phony weight or will be dismissed by either the SUPCO or on appeal.
Tells 'ya how desperate these Leftists are and what lengths they're going to trying to prevent Trump from being re-elected by we the voters. They're terrified of him and us. They should be.
More later.
The appeal is about the money and in this case the democrats don't care . Trump is now and for the near future found guilty of fraud. No one but us will know when it's overturned. All they wanted was the free media and the look of guilty. They know 90% of there voters is uninformed educated twits who didn't know Biden dropped out in 88, the other 10% is dead or brain dead, they all lack reasoning and accountability.I don't have time right now, but later I'll quote some of the absolutely asinine arguments this New York prosecutor and her "handpicked" witnesses made trying to prove Trump was fraudulent in making these various loans. I swear @roadtrasheer it's some of the most off-the-wall caca you can imagine! I'm surprised this case was even allowed to go to trial, but we all know what's really going on here. Doesn't matter, I honestly believe it gets overturned on appeal as most of these other "Lawfare" cases are either falling apart under their own phony weight or will be dismissed by either the SUPCO or on appeal.
Tells 'ya how desperate these Leftists are and what lengths they're going to trying to prevent Trump from being re-elected by we the voters. They're terrified of him and us. They should be.
More later.
