Posted on Oct 1, 2023
Trump's N.Y. business empire is 'greatly at risk' from judge's fraud ruling
1.29K
14
4
7
7
0
https://www.npr.org/2023/09/29/ [login to see] /trump-fraud-ruling-new-york-business-empire-judge
Donald J. Trump's sprawling web of businesses in New York faces grave danger and could unravel swiftly after this week's fraud ruling by a state Supreme Court judge, legal and business experts say.
The summary judgment issued Tuesday concluded that the former president and his associates, including sons Donald Trump Jr. and Eric Trump, systematically overvalued corporate assets over a period of years.
In one instance, they falsely inflated the total square footage of a commercial building by 300 percent, the ruling concluded. They also valued rent-controlled apartments equally with buildings where landlords are free to set their own prices.
Donald J. Trump's sprawling web of businesses in New York faces grave danger and could unravel swiftly after this week's fraud ruling by a state Supreme Court judge, legal and business experts say.
The summary judgment issued Tuesday concluded that the former president and his associates, including sons Donald Trump Jr. and Eric Trump, systematically overvalued corporate assets over a period of years.
In one instance, they falsely inflated the total square footage of a commercial building by 300 percent, the ruling concluded. They also valued rent-controlled apartments equally with buildings where landlords are free to set their own prices.
Trump's N.Y. business empire is 'greatly at risk' from judge's fraud ruling
Posted from npr.org
New York City
Donald Trump
Fraud
Business
Real estate
Posted 8 mo ago
Responses: 3
4
4
0
PO1 William "Chip" Nagel
...""What we've seen with Donald Trump over and over again is that often arguments that gain traction with his supporters are flatly inconsistent with the law," said Thomas of the University of Michigan.
One of Trump's claims has been that he played by the same rough-and-tumble, buyer-beware accounting rules that shape much of New York City's real estate industry.
"Most of the time that's just not going to be much of a winner of an argument," said Thomas. "Telling a police officer, 'I know I was speeding but so was everyone else' — that doesn't get you off the hook."
In his ruling, Engoron blasted Trump's legal arguments as "absurd."
On Thursday, meanwhile, Trump's team lost another appeal, aimed at dismissing many of the fraud allegations against him and intended to delayed next week's trial.
The trial in Engorom's Manhattan courtroom, expected to begin as early as Monday, will establish whether Trump and his associates violated other New York state laws and whether his companies will pay a sizable fine for fraudulent behavior.
It's also expected to answer many remaining questions about the future of the Trump family's New York state enterprises."
...""What we've seen with Donald Trump over and over again is that often arguments that gain traction with his supporters are flatly inconsistent with the law," said Thomas of the University of Michigan.
One of Trump's claims has been that he played by the same rough-and-tumble, buyer-beware accounting rules that shape much of New York City's real estate industry.
"Most of the time that's just not going to be much of a winner of an argument," said Thomas. "Telling a police officer, 'I know I was speeding but so was everyone else' — that doesn't get you off the hook."
In his ruling, Engoron blasted Trump's legal arguments as "absurd."
On Thursday, meanwhile, Trump's team lost another appeal, aimed at dismissing many of the fraud allegations against him and intended to delayed next week's trial.
The trial in Engorom's Manhattan courtroom, expected to begin as early as Monday, will establish whether Trump and his associates violated other New York state laws and whether his companies will pay a sizable fine for fraudulent behavior.
It's also expected to answer many remaining questions about the future of the Trump family's New York state enterprises."
(4)
(0)
2
2
0
"Greatly at Risk?" I'd guess he is pretty close to dead in the water over them killing his ability to do business in NY. I know he will appeal but I don't see them over turning the outcome.
(2)
(0)
1
1
0
The “Judge” ruled Mar a Lago worth 13 million. An empty two acre lot is for sale for $200 million.
(1)
(0)
SPC Kieran Jackson
Yes sir, that does sound like a huge disparity in value. However, the $200M property could be overpriced. Also, having structures on a parcel in some instances can lessen its value. Appraisals used for court purposes might not be based on the Sales Comparison Approach.
(0)
(0)
Read This Next
Continue with Facebook 
Continue with Google