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Government Corruption
Trump files to overturn 'egregious' $454M civil fraud judgment that found he inflated wealth to fool banks
2024-02-27
[NYPOST] Donald Trump
...The tack in the backside of the Democratic Party...
filed a notice of appeal of his $454 million civil fraud judgment, which found him guilty of inflating his wealth by billions to dupe banks and investors into helping him grow his real estate empire.

Trump, 77, filed the notice Monday with New York state requesting to overturn Justice Arthur Engoron’s Feb. 16 verdict by looking into whether the judge "committed errors of law and/or fact" and "acted in excess" of his jurisdiction.

"We trust that the Appellate Division will overturn this egregious fine and take the necessary steps to restore the public faith in New York’s legal system," Trump attorney Alina Habba said in statement.

The former president has railed against the case brought by New York Attorney General Letitia James, calling it a political "witch hunt" since it was first brought against him in 2020.

After the verdict earlier in February, the president doubled down by calling the decision "election interference," claiming the justice system had been made into "weaponization against a political opponent."

James’ office declined to comment on the notice of appeal, which had been expected since the verdict was handed down.

Posted by:Fred

#4  I'm a former federal bank examiner. It doesn't matter what a loan applicant values his assets at--no competent lender will loan on that. Instead they make THEIR OWN independent analysis, usually involving an independent or semi-independent appraisal process.
Posted by: Crusader   2024-02-27 13:02  

#3  Seems like a bank would love to loan out more money on a guaranteed payback.

Like when The Fed backstops 'certain high risk loans', or when Hunter overdraws.

Hey, you know who else does this? Property Tax evaluators. Then you get it again with Value Gained Tax. I'd bet there are some real 'gems' of property in New York which are, politely, way over valued according to the tax man.
Posted by: swksvolFF   2024-02-27 12:41  

#2  Every time someone inflates an value to get a loan, the bank is a willing participant. You get the money that they have to lend out to make profit, and they get to book your debt as an asset.
Posted by: ed in texas   2024-02-27 12:29  

#1  This legal has damaged the business prospects for the entire state of New York. We will now see whether they insist on lighting the wreck on fire.
Posted by: Super Hose   2024-02-27 11:21  

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