Trump’s $355M Penalty: New York Lawyer Breaks Down the Impacts | WSJ
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- Опубликовано: 8 июн 2024
- A New York judge ordered Donald Trump and his business to pay $355 million for misrepresenting his wealth for financial gain. Veteran New York trial and appellate lawyer Mark Zauderer explains what’s at stake for Trump’s business empire.
Photo Illustration: Annie Zhao
0:00 Trump penalized
0:39 Background on the case
2:22 The ruling
3:53 Trump’s business empire
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Why has this statute been enforced exactly once in the 70 years on the books?
Cause it's unconstitutional and any lawyer would know it would fail to prosecute unless the entire system was politically motivated against them.
Law enforcement uses this law every day in all states. It is called "disgorgement" -- the recovery of ill-gotten gains. They use it to seize cars, houses, jewelry, etc., from drug dealers, scammers and fraudsters because they obtained benefits through illegal means. Hope that answers your question, but probably impossible for you to understand if you asked the question.
@@jamesclark6707 Keywords being "ill-gotten" and "illegal". Implied is that someone lost money. What's illegal about me saying my property is worth X and you say it's worth Y? The issue seems to be whether or not the bank made enough profit because Trump got lower interest rates. Trump made money, the bank made money, the state made money in taxes. Win-win-win. So why is the state charging Trump with fraud? IE: there must be a loser. I can't see one. Maybe we weren't paying attention, this statute has been used exactly once in the last 7o years.
The Emperor, er govr, said Trump is the only one, so other businesses do not have to worry. That says it all.
@@jamesclark6707 What's illegal/ill-gotten about me saying my property is worth X and you say it's worth Y, then making a deal? The bank made a profit, trump made a profit, New York state made a profit in taxes. Doesn't there have to be a loser for it to be fraud?
Did we miss the news that this statute has only been used once in 70 years?
@@jameskittrell6486because its fraud? What do you not understand?
To all the people sending him your grocery money, just remember you're really not paying Trump, but essentially E. Jean Carroll and the State of NY!
Agree
Who is sending grocery money?
😅😂🤣💙💙💙💙
So what's worse, paying Trump, or the State of New York? The best outcome would be if you keep your grocery money to buy groceries, and Trump has to sell everything he owns, including his underwear, to pay the State of New York.
I AGREE !!!
New York just dug their grave even deeper.
Trump took office Jan 20, 2017. The lowest price of gasoline was caused by the COVID pandemic . 2015 and 2016 oil prices were lower than any year of Trumps reign of lying
Trump takes credit for the oil price collapse but COVID caused it.
I went to a bar and got drunk and drove home didn't hurt anybody and paid my bar tab so the bar made money and no one was hurt why would I still be charged with drunk driving
@@JeremyBrightenburg yep. If your last name was Trump they would still find a way to charge you with drunk driving even though thousands of other people did the same thing and didn’t get charged. It’s a political prosecution.
@@JeremyBrightenburgtotally irrelevant comparison
@@JeremyBrightenburgyou didn’t hurt anyone but your behaviour could hurt someone. In trump’s case who could be in danger?
There will be even more real estate abandoned or for sale in NEW YORK
Yeah, right. Seen any fire sales in NEW YORK?
@@KingVikram It's been nothing but dumpster fires in NY since Biden and his mafia took office.
@@KingVikram Sit back and watch
@@KingVikram It´s not about sales it´s about future investments. Kevin O`Leary, Grant Cardone and other investors have clearly
stated that with this precedent loaning money for an investment in New York is too risky. If an investor has a building he thinks is
worth 300 million and the bank says nah we only value it at 220 million and gives him only an 110 million new loan for the next
building the state of New York aka Laetitia James could charge him just like Donald Trump. And if she does not do that because
she only wanted to get Trump it´s even worse because then she has proved beyond any doubt that this is a political trial.
@@stefan6412his auditors testified that he blatantly lied to them. He outright lied about objective facts like square footage and contractual restrictions on properties. He inflated the value of his rent stabilized Park Ave apartments from $750,000 up to $50,000,000. Kevin O’Leary is trying to argue that a disgusting point of view: that wealthy business people always are committing aggravated fraud and we should tolerate that. Meanwhile a regular person would get the hammer if they misclassified income on a mortgage application.
She practiced that quote on the mirror like a billion times I bet😂😂
"ON"???
My thoughts exactly 😂😅
Doesn't matter. It was BRILLIANT when we heard it
@@Michelle-is1gt On her way to Governor while trump is on his way to jail.
Yep, while plotting to steal millions of dollars from Trump.
Not a fine, a disgorgement. I hope there’ll be money left for the Capital police lawsuit.
Lawsuit s
I'm glad you reminded us of that. There really is too much to keep tract of. Thanks.
The Capital Police have taxpayers to fund any settlement they have to pay. Unfortunately they can hide behind the lies Democrats tell people rather than courts actually using live television broadcasts as evidence.
It’s both a fine and disgorgement, I thought.
THERE IS!!! I forgot about that one too@@kennyw871
Apparently this judge knows more about finances than a big corporate bank giving out the loans. What in the world is this.
what exactly are you smoking?
@@bradleybrown840 I think it was sarcasm ...
Exactly. Trump getting robbed by a judge is crazy
Why would any company want to do business in New York? It might feel good now but New Yorkers will pay in the long run.
Because most of them aren't committing persistent, remorseless, high-profile financial fraud?
@@dennischiu272 When there's fraud, there are victims. Name one.
Yes, "fraud requires victims" was indeed Trump's defense. It was ruled as bogus and Trump was fined for it.
Take the L and put the argument aside.
@@dennischiu272
A kangaroo court would say that
@@dennischiu272 Emperor, er, govr, of NY said "don't worry, this is Trump only" trying to get businesses to stay. She just shouted very loudly that they are out to get Trump,by weaponizing the judicial system.
Jared, if you’re listening, Your father in law needs 2 billion
Jared’s busy hiding 😂
Im sure part of that is donnies.
Donnie Jr and Eric each need to pay $4 million.
Jared didn't even said his wife's legal fees. So no money from Jared for the trumps.
New phone, who dis?
"No one is above the law! Unless you are unfit for trial..." Lesko Brandon
This same ruling can be used against every company in NY. All they need is 2 different values and the state takes it all. Every company listed in any of the NY exchanges is subject to the same treatment.
What part of the difference don't u hear or understand. My 12yo kid available to explain at a small fee
@@ceddie2762
Private bank: I consent to give you a loan 👍
Trump: I consent to pay it back with interests 👍
Government: I don't! 😡
The IRS allways asseses your property value to be high as possible, to tax you more.
Its legal, and its Even more legal when both sides have a choice in it.. consenting to haggling the price
@@ceddie2762 DO you know that NYC real estate market is NOTORIOUS for overvaluing? Louis Rossmann has great videos on office-hunting in New York City, and NORM was inflating the SPACE of these offices by anything between 10% to 60%, and charging according to posted space, and not actual. And this would be a crime EVERY TIME SOMEONE ASKS ABOUT THIS SPACE, and really, really in the fraud area if landlord would actually LET the office for the listed price. And, obviously, this happens several times a day.
I hope I explained like to a 12yo kid - now your turn.
@@DarkMark-cf1ec this is not true, have you ever owned a house in US? There is a real evaluation done by IRS or local tax agency and there is a market value. My house for instance cost 640k for taxation purposes, but its market cost is 1mln, in the same time insurance evaluate it at 450k.
It's crazy All real estate deals are done in this manner. Its crazy the wrongness done to Trump.
How come no reporter has yet to go up 2 him and ask if he's tired of all this winning? Because, I'm sure not!
He told his supporters, that THEY will.
For once he did not make it of himself 🤓
no one needs to ask him anything...he keeps putting his foot in his mouth on his own, daily.
His opinion polling numbers are going up.
His donations have increased.
He is decisively leading the race for the Republican nomination.
Outside the bubble of anti Trumpers these cases are backfiring in the court of public opinion.
you guys are authoritarians. Evil.
We’ll ask Biden in November if he’s not dead by then
Ring! "Hey Vlad, buddy! Send the gold you promised."
"Cannot do comrade. Ve take the gold foil off and each chocolate. Very nice"
Trump is compromised by Israel (a la Epstein). And Israel has been compromised by the Russian Federation.
It’s not as simple as, “Putin puppet”
Don't worry Biden will get Putins support
How did the judge arrive at $355 Mil penalty? Why that figure? Who lost money on the deals?
No one lost money, no one pressed charges. The banks were happy, the loan has been paid off years ago with interest.
Lol trump organization was found guilty of 17 felonies and the CFO Allen was sent to prison before this went to trial for civil damages. The people of NY were defrauded out of money that this guy lied on loans and his taxes .
@@MrSirFluffyCrimes don't need a victim to be prosecuted. Otherwise fraud would never be prosecuted.
@@maliktp13 It wasn't even fraud, it was literally common business practice.
You offer collateral to the bank with a rough appraisal, they hire professionals to appraise the collateral and give a loan based on the amount they value it at.
It is mind boggling how awful this case is. The only reason anyone would support this is purely political. It's like arresting someone for theft while grocery shopping because they are walking around with goods they haven't paid for. Equally nonsensical.
@@MrSirFluffy It is illegal to do what he did. Something being commonplace doesn't magically make it legal. The banks he used should also be investigated and I hope this starts the process of reforming our laws in this because it is a brazenly corrupt pathway to subverting laws for more money.
Show me the man ,I will find the crime.
That basically what’s going on. Making up crimes to stop him running from President. It’s not working and all it proves is Trump can work under duress. It’s like the more you sling at him, the more powerful he becomes. I credit the democrats for campaigning for Trump. This far, they’ve done an awesome job! Keep think what you’re doing is hurting him.
No. You won't.
How ?! @@LouisDuran
This is political persecution obviously.
Fraud is political?
@@basengelblik5199
Who has been defrauded?
@@SM-mz2hzInvestors relying on the financial statements. Unless, you make wise investment decisions with undervalued assets (according to the stable genius)…because that’s somehow better?
@@dinglesworld Which investors? There weren’t any involved in the transaction.
The agreement was between Trump Org and a bank.
No other parties involved
@@basengelblik5199 fraud here is done by DA and judge
You can fake being smart.....Really? How'd that work out for you?
Well... like DJT.
Hire a bunch of sad souls to sort out the debris behind you and conceal your worst blunders.
When I first saw that I thought it HAD to be some sort of SNL sketch and they ad just found someone who looked and sounded like her (like Tina Fay with Palin). Because surely no professional woman with a high profile job (where it's rather important to be smart) would EVER say this! Heck, I'd have thought no one would unironically say this!
Went to Siri Law School
About as well as faking having hair.
Trump is the smartest guy in the room..... while he is in a walk-in closet, alone, picking out what to wear for the next court appearance.
Oh good we can sue car companies now for going over MSRP
If that's what you got out of this, you haven't been paying attention.
every other real estate developer in new york does the same thing. just remember that what goes around, comes around
He inflated the size of his flat by something like a factor of 10. While measuring square footage might not be exactly correct, that is a huge difference, and one would hope this isn't business as usual.
@@marymccluer1630
You mean nobody from the bank confirmed it before signing it off?
That’s strange. A surveyor come to my house.
You sound like you haven't even read the indictment. I'd suggest you brush up on something before spouting off about it publicly.
@@Brutus_Kennedy_Rutherford_III who exactly is the victim again?
@@4TwentyFour20 if you're asking that question, you clearly have no real knowledge of the case, but there is a very clear and simple answer. Either familiarize yourself with the facts or go smoke another doobie.
"DADDY SIR, DOES THIS MEAN I DON'T GET TO POUR THE CONCRETE ANYMORE?"
Exactly
Was this supposed to be funny. You do realize Trump has property globally. This is a drop in the bucket.
@@trappedcat3615 😆😅🤣🤣🤣😂😂😂🙃🤡🤡🤡
Aaaaaah poor boy. Did you step with the wrong foot in the concrete today? 🤣@@trappedcat3615
@@trappedcat3615I don't care whatever Donny got elsewhere as long as he's out of NY.😅
For doing a perfect job ... Kind of like making a perfect call ? ...
Are you going to vote for Biden in Nov, yes or no?
Yes, I am proudly voting for Biden.
@@DrakeSmith-tn6ij Literally destroying the country.
Voting for Biden is not destroying the country.
Of course it does. @@DrakeSmith-tn6ij
Before sanctioning loans, Banks do their own due diligence and market Valuation of the property and after that loan is granted. So , banks should also have been fined in this case. Very controversial decision .
The banks all said that it wasn't fraud and that they made a ton of money off of him. They also said they would want to do more business with him. It's the same if you get a home equity loan. You ask for a certain amount and the bank says, no. We don't value your house that high. Then you get a smaller amount. There was no crime here. Trump will win the appeal.
Clearly this was a political attack
Trump took office Jan 20, 2017. The lowest price of gasoline was caused by the COVID pandemic . 2015 and 2016 oil prices were lower than any year of Trumps reign of lying
Trump takes credit for the oil price collapse but COVID caused it.
@@LordFirestaff it's a political witch-hunt. If he wasn't running for president they wouldn't have done this. Every single one of these cases is crazy! The 84 million case to that woman is just as crazy. There was zero evidence and the evidence she had disproved her allegations, but since it was in New York, Trump lost.
This crime is so bad they had to use a law that didn’t really apply to the alleged crime. That’s the crime. Law is criminal in the hands of the people that profit from it.
exactly
Fines and barring loans for three years.
That's definitely just a cash grab.
AMEN!!!!!
a hit job..
Hit up Jared and take some of the $2 Billion he got from the Saudis two days after he left the White House...
Grifting!
Are the Saudis mad about it and why do you care its not your money?
@@scotmandel6699 Really? And, when Trump had U.S. mil in their oil fields protecting their oil, whose money was that? So, probably more of our money. Well, not yours, but U.S. citizens money.
That’s not happening. Jared has controls on future investments but they’ll need to be approved. I doubt the Saudi board would let those $$$ burn.
@@jasenjahn I think the point is: He's as crooked as his daddy. And, I doubt SA is worried about anything they get/give and may lose from/to the U.S., such as to Kushner. They will just get/give more, one way or the other. However, yes, your point is well taken.
Prove it. It’s not like he said on camera. “If you don’t fire the prosecutor you’re not getting the billion dollars”.
Cue Nelson from the Simpsons: “Ha-Ha!!”
Banks didnt sue... Because they wrote the terms of the loans and they profitted massively.
The truth is; the banks decidedly accepted trumps self reported asset values because it gave them a leg up against competing banks to service the loans.
They compete for huge contracts and try to provide the best terms possible.
Ultimately they did that; got paid; made their money... It amazes me that they arent considered liable as well.
Livable of what? Trump says a price, the bank appraise the value themselves and accept to give the loan, Trump pays it back. Is the market who decides the value not the government.
They are not held liable, because they are not the political enemy. Plain and simple. This was a political witch-hunt , plain and simple. Your comment proves such.
@@ozymandias8523 That's the problem, it sounds like the government now wants to set the value. Equity?
No the bank did their own due diligence.
and thats why this case will get thrown out, if Trump goes nuclear on NY he will bring the banks into the courts and ask to open their books ... I'm thinking that would never happen.
This will get thrown out when Trump wants it to, he using the publicity as long as he can so the US Common Man keep ratcheting the anger vs Govt tyranny.
So who’s the victim? NYC? Did the city not receive property taxes? Did Trump buy the properties and then fire all New Yorker’s or did he create jobs for New Yorker’s? Was there a crime? Is it standard practice to be conservative in asset value when obtaining a loan or mortgage?
_Was there a crime?_
There was no crime, because he was tried under civil law.
_So who’s the victim?_
He was found liable under a law that doesn't require that there be a victim, only that profits were made based on fraud. The intent of the law is not to reimburse victims of fraud, but to discourage fraud by making it expensive to the fraudster. And the law only requires disgorgement of the amount that was gained fraudulently, so that the fraudster ends up where he would have been if the fraud hadn't been committed.
This is a ridiculously lenient penalty; exactly comparable to robbing banks and only having to pay back what you stole if you get caught.
_Is it standard practice to be conservative in asset value when obtaining a loan or mortgage?_
Undoubtedly so. But it isn't standard practice to get an appraisal or establish a value, and then report to the prospective lender a value several times greater.
You really ought to read the actual Decision. This will dispel any notion that the Trump organization was just fudging a bit on property values, etc.
@@BigBen621 I've seen lots of property lawyers comment that the judges valuation of mar a lago property was comically low. You would think that alone could help him in his appeal in addition to Letitia James running her campaign on going after Trump. I'm not sure it is illegal to target someone and then investigate until you find a crime, but its a scary precedent. I'm not a fan of Trump, but I feel the DOJ and states are unfairly going after him and stretching laws to charge him. He now has my support and I hope I get a chance to vote for him.
That’s what I’m wondering, property value is a range.
@@BizQAC _That’s what I’m wondering, property value is a range_
This wasn't a case of fudging the numbers; it was a case of egregious, outright, deliberate, repeated lies. In one case, he valued a property as if he could build 2,500 houses on it, but he was actually only able to build 500. In another, he valued a piece of land he was planning to develop as if homes had already been built on it, inflating the value by $140 million. In probably the most famous case, he valued his apartment as if it had 30,000 sq. ft., when it actually only had 11,000 sq. ft., which overvalued the property by $200 million(!). In another case, he valued a property as if it were running a net income of $64 million a year, when in fact it was operating at a deficit. He valued apartments that were rent-restricted as if they were not. He included in his SFCs (Statements of Financial Condition) as available cash, tens of millions of dollars in a partnership that he didn't actually have access to. And the beat goes on...
All of these fraudulent statements were made in order to get bank loans he would not have received without them, or at a much lower interest rate than he would have received without the fraudulent statement; and the entire penalty was simply a calculation of how much additional profit he made as a result of these fraudulent statements.
I urge you to read the actual Decision, before concluding that this was just a matter of setting the valuation at the high end of a range, or fudging a bit or even a lot on the actual value.
@@BigBen621stop making things up. You sound unhinged.
New York goes after Defendant Trump for this little thing when back in the day President Obama had on a tan suit. Well I never.
You must be a trillionaire to characterize $355 million as a little thing.
@@waisinglee1509 He's being sarcastic!
PLUS Obama used Dijon mustard.
That's it lock him up. LOL@@mainely8007
Funny stuff here. Well done!
Ms James grabbed him by the wallet 😂😂😂
I have to admit, I like that one, (even though I have already seen it).
this judge has not seen what truckers can do . they are someone not afraid of this fruit cake judge
This city is not afraid of a group of truckers.
@@DrakeSmith-tn6ij You speak for the whole city? Yeah, right. Tell you what, they will get worried _and scared_ real quick if truckers were to boycott the city. Over 70% of every thing we get is from truckers... all over the country!
Good luck NYC with those grocery prices
The trucker who called for the boycott already backed down😂
@@Bigfrank88 fake news
@@Bigfrank88 If the truckers dare to boycott, they will be sued too for failing to live up to their delivery contracts.
@@eduardosnow7374 Boycott never happened 😅
No crime, no victim. Banks agreed to the assessed value, made the loans, all paid back years ago...with interest.
Yes….. they didn’t explain that in the video.
@@shaneencalade4988 Of course not. Or the fact that the Trump deranged judge arbitrarily set the Mar-0-Lago property at 18 million, with zero real estate experience or credentials to do so, when the banks assessed it much higher, and fully adequate to secure the loan.
Lol. Ignorance is your superpower, I see. Remember that time trump organization was found guilty in a criminal court in New York on 17 felonies and the CFO Allen went to prison. I do.
That doesn't magically make it legal to do.
So when you get a speeding ticket and pay a fine. Who is the victim 🤔
"I've never done anything wrong. Nobody can prove that I ever did anything wrong. It's pretty tough when a citizen with an unblemished record must be hounded from his home. I am feeling very bad - very bad. How would you feel if the police, paid to protect you, acted towards you like they acted towards me?" - Al Capone December 10, 1927...
And now Conald Skunk! and the so called "kids"...
Conald Skunk? Oah - I'm borrowing that.
Conald Skunk & The Kids. Sounds like a British basement punk rock band. Brilliant, mate
Trump is a sociopath.
It will be reversed on appeal…the whole thing is a scam.
It IS chronologically possible that Donald is the reincarnation of Al… never considered that, until I just read the ‘very bad’ line. 🇺🇸💙
He didn’t write The Art of the Deal. It was ghost-written.
That's true.
Someone wrote it for him..
But he perfected The Art of the Steal!
and you think all those celebrity half wits in Hollywood wrote their own stories? How naive are you?
The art to declare Bankruptcy
What do you mean - "Reimbursed" - there were no complaints, no losses, and no victims. So who gets the money, anyway? Geoff Rohde
Victim? Complaint? It's a court of equity, not a criminal court. The losses were proven at trial.
Did you get your degree in Finance law at Trump University?
_there were no complaints, no losses, and no victims_
The Trump organization was found liable under a statute that doesn't require that there be complaints, losses, or victims-only financial gain as a result of fraud, with the amount of the gain disgorged so the guilty party does not benefit from the fraudulent activity. This intent is not to reimburse victims, of which there may not be any, but to punish and to discourage fraudulent behaviour.
_So who gets the money, anyway?_
The State of New York.
Losses to who?
Be specific.
There was nobody on the plaintiff side with standing.
The state profited from the income tax of the construction the loan paid for, and continues to profit from the building today.
The bank profited from the interest on the loan they gave him.
Normally you need a plaintiff in order to award damages. This is just the state declaring a fine and stealing the money.
@pondracek another graduate from Trump University. Read the specific statutes for the Court of Equity in New York before making uninformed comments
@@Ater_DracoThe court of equity enforces fraud with nobody defrauded in their statutes?
Seems like bad case law, if true.
No body was harmed, no money lost, no bank defrauded, everyone was paid back
The feelings of the people in power were hurt. That is unforgivable.
Remember it was from Michael Cohen’s testimony that gave the DA the hint to check.
Jared Kushner can loan him 💵2 billion💵
I hope Trump pardons Hunter next year.
It is literally impossible to be that stupid, but you did it! Keep reaching for the stars.@@melanieparker
How many of Trump's 91 crimes will President Biden pardon him for in 2025?
I can bet you Jared will not...he is keeping distance.
@@crazy8chief Not Hunter, he knows he's protected the longer he hides behind daddy.
It's so ridiculous it shouid be overturned on appeal.
I will consider this fair when I see more cases come up for the same act.
A flimsy defense, and one Trump loves to use in court.
@@dennischiu272how is that a flimsy defense?
You won´t see any other developer be charged the same way even tho they all "overvalue" their property as
a starting position for their bargaining with the banks. That also the reason why there is always a disclaimer
on those statements telling the other side to do their due dilligence and look at the property themselves.
How can it then be fraud if you tell the other side look at the numbers yourself and if you dissagree lets haggle!
I think there’s some truth to that, though I don’t know how many people have had something similar like this happened to them. But I see Trump as uniquely criminal with everything from Trump University, which he got off from with a fine that he paid a few million instead of it being a criminal offense like it should’ve been, and constant tax fraud and bank fraud. He was sued in civil court even for this, but this should’ve been criminal as well.
Just a quick note: the law does not depend upon your "fairness' determination. Legally trained judges have that job.
Watch for Donnie's invisible accordion routine. Always a tell that he is making it up.
Also the sniffling.
No! He was doing a perfect job being a fraud.😂
Also, when he states, "frankly..." he lies like Putin, his bro.
@@gb4478 ... and the "people are saying ..." comment.
Anglers use the same technique for catch size.
What happened to "If I lose, you'll never hear from me again"?
😂😂
He was just teasing us
Just another one of his thousands of lies.
He doesn’t think he lost. At least he pretends that.
This seems like an awfully big penalty for something every business that’s in real estate does. The fact that the attorney general is a vocal critic of trump pretty much confirms that this is entirely a political decision.
It's not a penalty, just a detailed calculation of how much more money the Trump organization made because of blatantly fraudulent claims to lenders. The requirement of the statute they were found liable under is simply to put the organization back where they would have been if they *hadn't* engaged in widespread, prolonged, egregious fraud.
I wouldn't be surprised to find that most AGs are vocal critics of the fraudsters and criminals they prosecute; but that doesn't make the prosecutions political decisions. If there weren't a solid basis for a guilty finding in a criminal trial, or a liability finding in a civil trial, the outcome will be reversed on appear.
that's politics....
The motives of the prosecutor are irrelevant, what matters is whether or not the investigation was proper and the law was applied fairly. Whether it is applied fairly to others who have committed the same crime is a societal issue, not a legal one; it doesn’t generally get you out of a speeding ticket to whine “but everyone else was speeding too!”
a $100 speeding ticket isn't the same as Multibillion dollar assessments all over New York by various real estate companies. Iy they're going to investigate Trump then investigations should be launched into ALL real estate firms in the state. But New York is a joke and no one is held accountable @@jgig1329
Like you do to Biden and his family?boy...your hypocrisy is outstanding
Well if this ruling stands ANYONE going to a bank to get a loan based on the assessed value of property should be very very worried.
You obviously don't have the slightest idea what fraudulent acts he committed. I urge you to read the actual Decision-you might just learn something.
@Big_Ben_from_La_Mesa You haven't either or you'd be able to quote some actual segments and statements!
Trump basically valued his property at figure A and the bank said no, thats too high, it's more like figure B and they negotiated and came to a mutual agreement onfigure C! there was no crime or fraud hence no criminal fraud case!! and the bank actually testifed against the state and said Trump was one of their best clients and wanted to continue the relationship as they themselves found NO wrong doing at all.
Pleb.
@@BigBen621 I don't have the desire nor ability to read 100+ pages of legalize. Please stop advising this
@@jameskittrell6486 that sounds like a problem you need to fix. No honor in being incompetent.
@@jameskittrell6486 _I don't have the desire nor ability to read 100+ pages of legalize._
It's not 100+ pages, and it's in plain English, not legalize. 95% of the comments here are based on a complete misconception or misunderstanding of what this case was about. This only way to dispel this ignorance is to read the actual Decision.
what a crook, if any of us peasants do this we'd be in jail
Well, yes, that's true, but if you were in a position to do this on the level of Trump you wouldn't be a peasant.
@@Bootmahoy88I'm sure the commenter just meant the act of breaking the law part.
I've sat through a lot of trials in court and can tell you that nobody else gets away with the antics he pulls. One outburst gets one warning, second outburst gets you removed or fined or gagged or locked in a holding cell.
No, because nobody has ever been charged under this bogus 'law' before.
For what? paying your debts in full with no objection from the banks, after the banks had an opportunity to do their own value assessment before making the loan? In this case, who is damaged? The banks got their money. Nobody got hurt. There was no fraud because value is a matter of opinion. The Trump team gave its opinion of value. This was a Democrat AG who ran on the platform of getting Trump, a Democrat Judge who was just as biased, and a jury chosen from a bunch of Democrat voters. This was a stacked case. This is not justice. The lesson here is "don't do business in New York." New York is anti-capitalist. Let's see how far that takes New York.
Tangerine Toddler loses more than anyone in history......
Chalk up another loss for the world's most consistent loser.
True
That’s an insult to tangerines, you know!
I'm sure that he is sick of all of this winning. 🤣🤣🤣
@@Rob_F8F yes
So NVIDIA, GOOGLE, MICROSOFT, AMAZON, and TESLA are not overvalued... American leadership and educated are stupid...
Is that admittance
That is how the elementary school system in America works, always has, always will.
More truckers need yo boycott NY. Let the illegal immigrants run the city.
He talks about NATO?? PAY UP DONALD 😂
Let the Russians “take care” of him 😂😂😂😂
NATO should give trump a call and remind him to pay his bills 😂😂😂😂
@@BRuas9080No more peeing on 🧐
@@BRuas9080he’s only of use to them in the country. He goes elsewhere?…they have no use for him. Neither do he Saudis
He never pays up! I don’t know why small business people follow him!
Diaper Don taking L's like no one else. #Heartwarming
ANOTHER CALIFORNICA HERE
Next their going after Home owners Who over value their houses to get a home equity loan !
They likely *would* go after a homeowner who claimed his house was three times as big as it actually was to get a home equity loan, which is pretty much exactly what Trump did-among many other similar fraudulent statements.
Don't be absurd, The average sane homeowner with some shred of integrity does not do it on the magnitude and continually as Trump does. He has always been shifty and his history shows there are many other areas and transactions that should be investigated in the future. His has always been a song and dance show
I bet Habba wishes she had chosen intelligence over beauty about now.
You’d have to be smart to realize that. 😂
I can see Habba's best professional option as a cheer leader.
You would have to have intelligence to begin with for it to be a choice.....that's why she couldn't choose it....she has none.
@@deborahmuller7559i see trump tower filled with new voters/migrants. Ironic if they end up voting for him.
She'll have her OF account soon.
approximately $1,000,000 a week interest.. 👍
sounds lovely!
Plus I don’t believe he’s done anything wrong whatsoever but run his business and loves my country
Can someone please explain to me who was harmed monetarily (which banks? How much in loss) in this fraud cases?
The fine walked up to Chump, big fine, strong fine, with tears in its eyes said, "Sir, I'm so sorry. You don't deserve this. How can I help?"
God is in control this is for a short time God is Faithful ✝️🌱🤷🏼♀️
So true
This is so cringy. Chump?
So is your god the god of the old Testament or the woke Jesus of the new Testament? Because it appears that teaching the sermon on the mount is too woke for Trump followers. That was one of the most basic of Christian theology. If Christ is too woke and you don't follow his teachings, you can't call yourself a Christian.
A 5 million dollar fine walked up to trump and said Sir, sir, you are such an accomplished businessman can you help turn me into 83.3 million dollars….sure said trump, here is Alina’s number, she pretends to be smart
It's the biggest fine, the best fine, there are no other fines like it :)
And it's well earned
😅
Oh, and of course someone in the court went up to him with "Sir, sir, how can they do this to such a fine, upstanding, intelligent, benevolent man sent to us by God himself, Sir, Your Excellency."
Bigly!
FDT
&
FMAGA
Really?! With evil lies ?! Do you believe in God to be real?!!! Or you believe the something rain in the Earth and form everything included you ??!!! THAN GOD DOING IT BY HIS POWER ???!😬😳😤😡 who are you and where are you coming from????!!
@@todddillon613 hmm you too need Christ without Him you are Lost 🤷🏼♀️
Will the victim please stand up....Anyone? Anyone?
Bueller?
Please the real slim shady stand up
The auditors, other lenders, honest business people in the same market. Any other obvious answers required?
@z5So what actin did THEY take against Trump if they were defrauded? Will the fine go to them?
Can anyone imagine doing business in NY ...every organisation in NY is doing exactly the same thing...this is a very corrupt judge indeed.
Please verify this comment with appropriate documentation.
@@colobisman6132 would you believe it anyway...of course not. Perfect.
Give me a try. I’m not a righty or a lefty.
All the people Trump refused to pay should now make application to the court.
"Let's take a moment to reflect on the former president's legal strategy. He's not saying he's innocent. He's not saying he didn't break the law He's saying he can commit any crime he wants to because he has 'presidential immunity' and "immune" to any crime he committed."
@@davidadetutu5903yes, let’s make sure the citizens of the country can’t take advantage of the big corporations.
@@derilynplante8486The banks, for example, like Trump did
All the folks who lost the bids that the Trumps won with their lies and false books. The law is intended to uphold the playing field. Trump cheated everyone who played it straight.
Yeah the company I worked for who puts in skyscraper windows got ripped off 20 million by the orange clown.
If lawyers had difficulty getting paid before this, good luck now guys! "Better Call Saul" baby 👶
I'm sure they submitted daily bills that were paid.
$355m is just the start. Interest is due on this money and an IRS audit is coming as it’s highly likely these false declarations have tax consequences. Well over $500m……
Yes, let's keep pretending that this is the point...
Dear Wall Street.....you're next.
Trumpsters keep sending your money to trump,
E. Jean Carroll and New York State need it.
Thanks
I will, thanks. Keep suing him! It’ll make us that much stronger :)
the video said this will be in appeal for a long time. he posted bond which was probably a pretty small amount compared to the total. trump will probably be dead or close to dead by the time this is over.
Elon Musk is also a Trumpster, don't forget that.
Hilariously, someone has set up a fake gofundme to grift off this sea of right wing tears. Same pattern as "build the wall" who raised 25 MILLION and got caught stealing donor money
I would but Brandon took all my extra money and then some, LETS GO BRANDON
Trump Tower will be a Spirit Halloween store by this summer
So how is what Donald Trump has done any different from any homeowner that's brought or sold real estate in America?
Think about it. When you go to sell your home you try to get as much as you can for it.
Applying for a loan is no different you want the best estimate of your wealth in order that you get the best benefit from the banks.
America benefits from the equity in personal property because that's what America uses to secure the national debt. The same is true with every home owned by every America in the nation.
If you sign a statement telling the bank your home is 30,000 square feet and it is only 10,000 soft - what Trump did over and over again - you would end up in jail. If you told the city property tax folks the same home was only worth 1/10 of the value you told the Bank it was worth, you would go to jail. Trump is out and about only because he has enough money to keep paying lawyers and because dupes who think he is their" champion" for some crazy reason give him political cover.
And... And... ALL OF RUclips PROPERTY GURU TEACH YOU TO DO THAT FOR REFINANCING...
This is just pure hate(personal attack)
I would not suggest signing off on material lies to your bank on a mortgage application. Trump is not a victim here.
💰 ~ The money is mostly his “ill-gotten gains“ based on what he should have paid had he not been able to lower his interest rate based on lying to the banks.
And in this case the banks did not lose money, but what if we all did that? What if we all lied about our income and assets, and then if we do default on a loan the bank is not able to recover their money, and when they can’t recover their money they charge everybody else more. I like shoplifting.
And all the people who support trump sure don’t mind that Marilyn Mosby didn’t cost the banks any money but she is going to lose her lol license and she’s gonna be sentenced to prison for extremely low level financial fraud with her own 401(k) money.
Trump has committed a lot of bank fraud and tax fraud. And he’s never been held accountable. Kind of reminds me of entitled minors that are never disciplined.b
@@vincenz5 There is no victim. But I like how you ignore what the comment is.
I hope this is only the beginning for the chieftain maggot
Oh it is, it is, it is! This is where we're going to get tired of winning!
His "dance" ticket is full for the rest of the decade.
And what created this orange evilness is income inequality. Diaper Don is a symptom. Corporate greed is the disease.
@@ericnelson9100 trump 2024 for sure
Chickens are coming home to roost.
Hillary baited him into admitting, in front of the world he's to smart for the IRS. The new york times, got 20 years of is record force NYS to go after him, now the irs is auditing his tax he might owe them more then 100mill. Plus the other 450mill. All he had to do was keep his mouth shut.
Judge and James should be disbarred and thrown in jail
Yea because your Supreme leader is untouchable right?
Does nobody understand he can just get a 355m refi?
This is not a big deal at all.
Whys he complaining?? It's the perfect verdict for the perfect company run by the perfect family.
Perfect comment 👌😂
355M in 1 month , pay up in 1 month? w/ interest daily? That's ridiculous. It'll backfire with the judge.
God bless.
Nobody has charged Trump for any loses in obtaining loans so how can a government make this decision. What does a judge know about property business to award themselves $355m.
Individuals seeking redress for private injury is a wholly separate matter from a regulator seeking redress for violations of the regulatory scheme. Just like how you can get a traffic ticket for speeding even though nobody was actually injured in an accident, the behavior is what caused the risk. Except, in this case, it's worse, since Trump defrauded so many by his misrepresentations.
Politics now sits firmly in the judicial system. Two tiers of justice.
The difference is that Fred Trump is not around to bail our Donald. Like in did in 1990, when Fred bought 3 million dollars in chips to pump money in Donald's failing casino.
I remember that story but forgot the dates. His parents remind me of the parents whose toddler is throwing a tantrum in the store so they buy him a toy to help him calm down.
As Steve Wynn, who owns casinos said of Trump. Not an exact quote. Donald builds these hotels to his ego, and then has no business plan to sustain them. He screwed Jersey, Atlantic City, the Scot’s etc. he needs to be in jail for a long time.
Or when Fred found a tenant/doctor to (falsely) say that Donny's bone spurs prevented him for being drafted.
@@Lovesapuzzle biden had multiple deferments get over it.
@@Lovesapuzzle Did you know that is how Drumph wound up here? Even well known, long time channels have the story, such as the History Channel. (No, I don't like everything on the HC.) Trumps' grandfather was running away from the draft in his country, and he came here. NOTE: What did that make him? What does the so-called right like to call them? And, he got help, just like other immigrants, but did not have to wait years and years to become a U.S. citizen.
Way to go, Alina!!! You're awesome. Please don't stop what you're doing. Maybe this time, help us get a lengthy jail time for Trump. 😀✌️
All hail Alina! She’s a rockstar!
😂 agree.
What does she have to do with it? The judge didn't allow a defense and went immediately to damages.
so your saying the judges and the juries are corrupt ?
Thank you Alina - you're the best proseutor, especially since you allegedly get paid by the criminal!
Lenders have to perform their own due diligence, so there really was no fraud and some rational appellate judge will overturn this absurd ruling
Good try. Maybe you can be the judge next time, after you learn the definition of fraud.
@@jamesclark6707 it is not a try, it is a rule. Every US citizen refinancing their house doing an overestimate and then lender send the appriser to evaluate the actual cost of the house
@@jamesclark6707 - why don´t you clarify us?
@@PauloSilva-cy7uh Lie about the value of your assets for your benefit to the state and federal government. They will clarify it for you.
@@BadLineMTByour not understanding what they are saying you can’t lie you say hey bank I think it’s worth x $ then the bank will do their own research and appraisals and either agree or disagree and give you loan not to mention they grossly undervalued his property if anything and Mara lago isn’t even in New York so many things that makes this wrong it’s unreal
The Banana Republic of the United States...... Say it aint so.
Yeah I remember Jan 6th too, buddy.
It ain't so. He just tells you it is and you believe every word he tells you
That monitor will drive Trump crazy. Er.
“The Art of the Steal.”
It just fits.
James is a bigger crook than Trump could ever be.
Cope and seethe harder. He’ll be your next president
Hilariously, someone has set up a fake gofundme to grift off right wing tears. Same pattern as "build the wall" who raised 25 MILLION and got caught stealing donor money. Apparently the Art of the Steal is alive and well.
😂
@@johngoldsworthy7135
For sake of democracy, the constitution and the freedoms you seem to take so much for granted, he will not get to be dictator.
Our family CANCELLED our Spring vacation to NYC That's Airfare, Hotel rooms, taxi transport and restaurants ALL NOT GETTING OUR $$$$$.... Stupid political witch hunts have consequences.
Oh yeah, your vacation will bring the economy to its knees 😂
@@Bigfrank88 Every little bit helps pindajo
lol NY is a sad joke!
Don will be doing “incontinence” ads very soon!
"Oops, I Crapped My Pants!"
Adult diapers with his face on them.
Trump-brand catheters?
Carma is a B
Trump is a PAB
But Karma is spelt with a K
@@kelbatt7729You are both right - we know what jarret meant and you are a good person to point it out!
Never knew I could find so many highly educated, well informed, and experienced attorneys here in the comments section. 😆🤣😂
Every individual in the comment section has a profession except the kids, what makes you think some of them are not experienced attorneys.
@@user-zc1cx8jc4s The key phrase is "so many , , , lawyers". Leaves room for your "some , , , experienced lawyers"
Can you predict the impact of truckers not delivering food and other basic needs to New York because of this ruling?
No impact. They like making money.
NOW that they are being monitored the business will quickly go bankrupt ....
Let’s hope so!
Then the court will restructure the business, sell assets, etc. The punitive civil sexual assault judgements cannot be discharged in bankruptcy.
now? 🤡
No. The business will move to a red state where people aren't out of their f'ing minds. NY can turn into a worse dumpster fire than it already is.
He can go through an entire court case (lose) and still think he did a perfect job. If he finds political success, the people of USA deserve him.
I mean how well do you think the average American is educated?
Better than just about any large group in the historical record. When else has everyone had access to the knowledge we have now?@@Sandals578
No we don’t.
"There was good people ... on both sides"
@@Sandals578polls would say high school but their comprehension of reality is at elementary level particularly after someone’s presidency.
New york city need money for venezuelans undocumented for food, hotel , credit cards??...... ??
Lol
If the Truckers support Trump, the bank will also , which could hurt businesses in New York state. Witch could hurt productivity in NY,NY.
The Art of the Appeal
Don could turn his 30K sq/ft Suit into a B&B, call it the “Finger Bangin Suite”
Grab by the penthouse
Bedbugs
Or post it on RBnB....lol
Put Melania back on the escort market ?😮
Air Accordion Accommodation 😂
Joking justice system… insane and sick.
Well, you can kiss real estate developers goodbye because if this bogus ruling stands they will be leaving from new york.
_if this bogus ruling stands [real estate developers] will be leaving from new york_
The Horror!
😂 Trump is a small family business that doesn't even make the top 20 real estate companies in Manhattan, let alone New York, the US or the whole planet.
You think powerhouse companies that make trillions in NYC are going to leave because one crime organization got shut down? Take some Copium
No, prop developers need only voice support for Biden. You're safe if you're a member of the party.
Goodbye fraudulent real estate investors!
@@jamesclark6707 And good riddance! Don't let the door hit you in the ... ; well, you know.
The statement "if it stands" is predicated on one thing. Before Trump et al may seek an appeal money and/or chattel equal to the value of the Judgement must be lodged with the Court. I believe that would include the pre-judgement interest which adds a further $100,000,000 or so to the value of the Bond. If the appeal is successful the bond is returned. If the appeal is unsuccessful or if the Appellate Court refuses to review the case the bond is forfeit immediately.
I assume he does not have that in cash. Could he put up one of his properties in lieu of cash? If so, would the state be responsible for liquidating that asset/those assets and paying off any liens against it/them if the bond is forfeited?
@@Lovesapuzzle I think anything put up a surety has to be clear title and free of any liens as well.
That raises another question. Does Trump own any property outright? It a safe better that there are loans attached to everything. @@BornAgainCynic0086
The required amount is the full 350 million, its not a private civil case, its Trump vs. New York.
I have seen Donny junior and the other one for sale on the dark web 😮
You know, we're going to do fantastic things, many fantastic things, so fantastic, so fantastic, it's gonna be fantastic, you won't believe how fantastic things will be, things will be so fantastic that you won't believe how fantastic things will get, believe me, believe me. You know, we're going to do tremendous things, many tremendous things, so tremendous, so tremendous, it's gonna be tremendous, you won't believe how tremendous things will be, things will be so tremendous that you won't believe how tremendous things will get, believe me, believe me. You know, we're going to do great things, many great things, so great, so great, it's gonna be great, you won't believe how great things will be, things will be so great that you won't believe how great things will get, believe me, believe me.
Are you 12? 😅😅😅
Spot on! 🤣🤣🤣
@@BeckyJean I completed a puzzle, & the box said 3-5 years, & I did it in 5 days. I'm a stable genius with the best words.
There goes the accordion again 😂 Reminds me of that wind up toy monkey 🐒 😂🤣
I bought my home at 5x the government appraised value. Did the seller commit fraud?
No. So what's your point?
Food prices are up 50% in 4 years, but the government says its only 15%. Is that fraud?
Well, at least The Dictator's hands are clear of syphilis red spots today.
Makeup
Enough people in power want Trump's head. This is what happens when you take on established powers.
"no one is above the law" -- if that was true, Biden's son would be in jail.
Excellent reporting, thank you.
Letitia James is true American Hero.
He left out the part where NY AG Letitia James campaigned on an ambiguous 'I'm gonna get Trump' political platform, waited until Trump announced his candidacy for the 2024 presidential campaign and then prosecuted Trump using a law that had never been used on a litigant where not one single person suffered civil injuries and where all parties were paid in full ahead of schedule.
@@Bonjour-World All fine and good. Just remember in 2025 when Trump's AG opens up an Election Interference RICO investigation and subsequent criminal charges on NY AG Letitia James, Judge Engoron, Fulton Cty DA Fani Willis, Attorney Nathan Wade, Special Counsel Jack Smith, AG Merrick Garland, grifter E. Jean Carroll and former president* Joe Biden... they started it. I don't want to hear you crying when Trump finishes it.
@@viper2148you left out the part where Trump and Co were just found to have committed fraud