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On a legal basis, this is not correct. A violation of the law is a crime, whether it creates a victim or not. Think insider trading. There's no real victim, but it's still a crime.
Also note, this is NOT a criminal case, it's a civil one. So the rules of evidence are not as tilted in the defendant's favor. And, also, there's no criminal punishment. He can't go to jail for this. They can only get a money judgement. The big question here is who gets the money. The state is very much not the victim here, but I suspect they'll get the judgement.
Quote:
Originally Posted by Mr.Retired
Thankyou.
As I thought. If there are no victims there is no crime.
The way I understand it and it does not make any sense at all why this is even in a N.Y.C. court.
No appraisal reconsideration ? No second appraisal? ( No victim? This one got me! )
Is this just an Appraisal Fraud accusation brought by Letita James ( on behalf of who ) against the Trump Family ?
I'm sure he or she is. Meaning that if people are being bought and paid, he or she is asking for morality in a capitalist-dominated society. Like there's feelings in business. Lol you can't make this stuff up. Covid really did a number on people man, it's sad.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
How many other people overvalue their property - I bet you 95% of politicians do the same. Let's get the figures for Bernie's properties and see what he did.
Letetia James ran on taking Trump down - I hope the next gov - takes a look at her. There are skeletons in everyone's closets as we've seen with Adams and I want them all exposed from both sides.
As many a mother has said; it doesn't matter what others did, *you* were the one that got caught.
There's one part in your examples that's missing from what Trump did. In your examples, the commodity was actually sold for the price you state. Once a buyer is actually willing to pony up the money to buy a commodity at a given price, it is, by definition, worth that price.
So let's say you own a piece of property, and need to value it without actually selling it. How do you do that? You compare it to other similar pieces of property that have sold recently. So if you need to get the value of your 4 bedroom 2 bath 2000sqft house, and there's a house of similar size and configuration down the block that sold for $650,000, you can legitimately say that your house is worth the same amount. This is called a comparable, or shortened, a comp.
What Trump did, was pick arbitrary amounts, vastly above what any comps might have been, and used those numbers to establish collateral for loans. However, if he defaulted, and the bank had to sell the property, they would have found they could sell it for only a small fraction of the originally declared value, and would be stuck for the rest.
Now having said that, it's part of the bank's due diligence to confirm the value of the collateral. Sometimes they don't do this, because they want to make the loans and collect the fees and interest. And, nowadays when loans are often sold off by the originating bank, if it defaults down the line, it's not their problem. So Trump was able to get way with overstating the value of his properties, because the banks were complicit. But, there are laws against doing this. So when the political layer in NYC wanted to go after him, this give them fodder to do so. Note that it was Letitia James pushing this, not any of the banks. In the end, they got paid, and didn't care.
No, that is not wholly true. Shill bidding and other sorts of fraud that drive up prices for an item or asset are illegal and or can lead to civil or criminal legal action.
We are witnessing an extermination of a brand and a man behind it. This has to happen at any cost so he doesnt win an election.
Their theatre can not be disturbed \ and the brain dead president must stay in place.
Somewhere I read: "It's impossible to get a man to see something, when his livelihood depends upon him not seeing it."
...Or impossible to get a man to see plain facts that would require him to admit that voting for and supporting the Orange Criminal was a big mistake; to say nothing of the fact that theOrange disgrace possesses not the faintest inkling about what's right or wrong. He owns no conscience.
How desperate do you have to be to hide this from yourself in order not to need to recognize that the Orange Criminal deserves votes and support from NO ONE?If you vote for and support the Orange Fraud, who owns no conscience, what must that say about the state of your OWN soul, eh? Pretty dead? Anesthetized?
Somewhere I read: "It's impossible to get a man to see something, when his livelihood depends upon him not seeing it."
...Or impossible to get a man to see plain facts that would require him to admit that voting for and supporting the Orange Criminal was a big mistake; to say nothing of the fact that theOrange disgrace possesses not the faintest inkling about what's right or wrong. He owns no conscience.
How desperate do you have to be to hide this from yourself in order not to need to recognize that the Orange Criminal deserves votes and support from NO ONE?If you vote for and support the Orange Fraud, who owns no conscience, what must that say about the state of your OWN soul, eh? Pretty dead? Anesthetized?
I’ll put it this way in hopes you understand.
I’d vote for Sponge Bob before I vote for your regular offerings like Biden/clinton/obama/bush or any other mass produced manure manufactured for public consumption on Tv.
That’s how much me and lots of others would like to see a change in theatre.
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. Massive difference in courts.
