In a pretrial ruling on Tuesday, a Judge Arthur Engoron ordered the cancelation of the Trump Organization's business certificates in the state after determining that Trump submitted "fraudulent valuations" for assets that were then used by himself, his eldest sons and his business to obtain better loan and insurance terms.
Looking at Luis Rossman's video on the matter, seems this is a common thing with New York commercial real estate. So I wonder if they'll crack down on that practice too?
Let's hope so. If this helps to stop others from committing multi million dollar fraud, we got two birds with this stone
They should have all those contracts then nullified due to this fraud, and redrawn at the proper terms with actual rates. If he doesn’t qualify, then have him immediately have to pay it back. That’s what would happen to any one of us schleps. Not to mention jail and probably wage garnishments and stuff. But hey. I could always run for President still. I guess?
FYI: the 250M is the minimum penalty
Plus there is this:
Looking at Luis Rossman's video on the matter, seems this is a common thing with New York commercial real estate. So I wonder if they'll crack down on that practice too?
Let's hope so. If this helps to stop others from committing multi million dollar fraud, we got two birds with this stone
They should have all those contracts then nullified due to this fraud, and redrawn at the proper terms with actual rates. If he doesn’t qualify, then have him immediately have to pay it back. That’s what would happen to any one of us schleps. Not to mention jail and probably wage garnishments and stuff. But hey. I could always run for President still. I guess?