News NY AG sues Trump and Trump Org for Financial Fraud (Update: Fraud verdict with $454M judgment)) (1 Viewer)

[wardorican]

Figured he has two major legal things going, this should get its own focus.

 

[fooferdoggie]

The point was made this morning on TV that there are some real issues for Trump in this case:

1. He doesn’t have $250M cash to pay - so he will undoubtedly lose some assets and he knows this.
2. This hits him hard where it matters - his prestige and his money.
3. These other indictments and crimes don’t seem real to him, but this does.
4. Most of his actual assets lie in the state of NY, so if he is barred from doing business there he will lose his Wall Street property, Trump Tower, and several other Manhattan buildings.

He’s scared and he‘s furious. Especially because the AG is a black woman. That just rubs salt in the wound in his mind.

well 250 is chump change when you have idiots giving him countless millions. He will just turn up the griftometer.

 

[superchuck500]

Wow. Trump and Co. can’t move any assets without reporting to special master - and he has to disclose all equity partners and lenders for all of the businesses.

 

[efil4]

Wow. Trump and Co. can’t move any assets without reporting to special master - and he has to disclose all equity partners and lenders for all of the businesses.

Can i pre-emptively file for FOIA on those ???



i cant WAIT to start connecting dots.

 

[superchuck500]

Can i pre-emptively file for FOIA on those ???



i cant WAIT to start connecting dots.

I don’t think business records taken into evidence in a fraud case can be obtained in FOIA.

 

[Taurus]

Wow. Trump and Co. can’t move any assets without reporting to special master - and he has to disclose all equity partners and lenders for all of the businesses.

What if they don't?

What if he simply refuses to comply with any of it?

 

[superchuck500]

What if they don't?

What if he simply refuses to comply with any of it?

The judge can order the companies and assets into receivership.

 

[Taurus]

S

The judge can order the companies and assets into receivership.

So if Trump does the toddler thing and just goes limp, all this happens without him.
Good

 

[GrandAdmiral]

I don’t think business records taken into evidence in a fraud case can be obtained in FOIA.

Killjoy...

 

[superchuck500]

Killjoy...

I actually litigated that in New Mexico.

A state law enforcement investigation obtained material from my client (voluntarily) and then the attorney for the plaintiff in resulting civil litigation regarding the same activity FOIA'd the material (under the NM state version) from the state LE agency and I had to object. The attorney called me and told me I was obstructing her case and that the position made no sense, what was in the state file could be obtained by FOIA - basically that anything in the investigation "became" available by FOIA.

I was like "Um, no - FOIA is for government records, and private material doesn't just become a government record because it comes into government custody. You will have to subpoena them from my client in the usual course." The state didn't want to get cross-wise with us because we were the "owner" of the material, so the state refused and she filed an objection in state court. The state filed a response that basically attached my position in a letter as an attachment. The judge held a phone hearing and asked the agency if their investigation was closed, the agency said yes, and the judge ordered the return of the material to my client, promptly. He told the other attorney "Counsel, these are not government records, you can't get them from FOIA. If you want to try to subpoena them, that's up to you."

 

[efil4]

I actually litigated that in New Mexico.

A state law enforcement investigation obtained material from my client (voluntarily) and then the attorney for the plaintiff in resulting civil litigation regarding the same activity FOIA'd the material (under the NM state version) from the state LE agency and I had to object. The attorney called me and told me I was obstructing her case and that the position made no sense, what was in the state file could be obtained by FOIA - basically that anything in the investigation "became" available by FOIA.

I was like "Um, no - FOIA is for government records, and private material doesn't just become a government record because it comes into government custody. You will have to subpoena them from my client in the usual course." The state didn't want to get cross-wise with us because we were the "owner" of the material, so the state refused and she filed an objection in state court. The state filed a response that basically attached my position in a letter as an attachment. The judge held a phone hearing and asked the agency if their investigation was closed, the agency said yes, and the judge ordered the return of the material to my client, promptly. He told the other attorney "Counsel, these are not government records, you can't get them from FOIA. If you want to try to subpoena them, that's up to you."

fascinating - boiled down to ownership- and does "custody" imply ownership? @superchuck500 said "nah brah" Judge concurred.

nice work counselor.

 

[superchuck500]

fascinating - boiled down to ownership- and does "custody" imply ownership? @superchuck500 said "nah brah" Judge concurred.

nice work counselor.

It all boiled down to what is and what is not a government record.

Thanks, I remember that first call with the plaintiffs attorney. I wasn't working that day, was in Beaufort, NC having lunch on the waterfront with my family and spent the next 45 minutes walking up and down the boardwalk on the phone with this attorney in Albuquerque trying to explain to her that FOIA is for government records - and that doesn't just mean anything the government has custody of.

 

[MT15]

Evidently these are the reasons Trump’s estimate of Mar-a-Lago’s worth are so far off as to be considered fraud:

 

[superchuck500]

Evidently these are the reasons Trump’s estimate of Mar-a-Lago’s worth are so far off as to be considered fraud:

Should also be reminded that this was just one example - the judge ruled that there had been ongoing and repeated fraud over a long period of time. He did this kind of thing with all of his assets.

I think there was one property that was 11k square feet and Trump indicated on the financial disclosures that it was 30k feet. Trump said “there’s different ways to measure square footage”

 

[Lapaz]

Evidently these are the reasons Trump’s estimate of Mar-a-Lago’s worth are so far off as to be considered fraud:

I'm not sure that Trump's inflated value of Mar-a-Lago will hold up as fraud. I read that Trump inflated the value of Mar-a-Lago to help retain loans, yet it was valued far lower by tax assessors. However, I read that tax assessors used property income and other data to determine the worth, but that that isn't intended to reflect the property's value on the market. However, some real estate experts claim that it is worth close to $300M, not $1.5B. If Trump claimed $1.5B, then that can be fraud, but the assessed value of MaraLago shouldn't be the comparison point. If Trump can find some real estate experts to claim it is worth close to $1.5B, then it may not be fraud. Due to its unique association with Trump, I could see it being overvalued by some, and undervalued by others.

 

[MT15]

I'm not sure that Trump's inflated value of Mar-a-Lago will hold up as fraud. I read that Trump inflated the value of Mar-a-Lago to help retain loans, yet it was valued far lower by tax assessors. However, I read that tax assessors used property income and other data to determine the worth, but that that isn't intended to reflect the property's value on the market. However, some real estate experts claim that it is worth close to $300M, not $1.5B. If Trump claimed $1.5B, then that can be fraud, but the assessed value of MaraLago shouldn't be the comparison point. If Trump can find some real estate experts to claim it is worth close to $1.5B, then it may not be fraud. Due to its unique association with Trump, I could see it being overvalued by some, and undervalued by others.

No, I think the way he has classified it with severe restrictions on how it can be used significantly affects its value. Just as the poster said. The assessed value shouldn’t be looked at as the high end - but an assessed value shouldn’t be off by an order of magnitude either. Besides, the judge has already ruled that it was part of the fraud that he found Trump has committed. So it has already been ruled fraudulent.

 

[DJ1BigTymer]

The best people

 

[MT15]

 

[MT15]

What is up with Tweets disappearing? May have to start using screen shots.

also, today Weiselberg is testifying. He is not a CPA, never took the exam. Isn’t aware of GAAP, which I’m aware of and have never been close to an accountant, lol.