Breaking: Federal judge finds Trump committed fraud over inflated real estate valuations

[Brent]

A federal judge found former President Donald Trump defrauded banks and insurance companies by illegally inflating the valuations of real estate holdings.

New York state Supreme Court Judge Arthur Engoron said Tuesday that Trump overestimated the value of his properties and his net worth in order to seek favorable financing for about a decade.

The claim is a key part of the $250 million civil lawsuit filed by New York Attorney General Letitia James against Trump, his two sons, and the Trump Organization. The ruling allows James to impose sanctions on Trump, his co-defendants, and his attorneys.

Engoron also ruled that business certificates for the Trump Organization are to be canceled.

James claimed that Trump exaggerated his net worth by as much as $3.6 billion on financial statements given to insurers and bankers. Trump's properties in the lawsuit included the Mar-a-Lago Club in Florida and his penthouse apartment in Manhattan's Trump Tower.

[Garraty_47]

Once again they're gigging him for something all the rich assholes do. So there's going to be a flood of indictments to follow with lots of rich assholes finally being held accountable, right?

Right?

...

Yeah, that's what I thought.

[Brent]

Once again they're gigging him for something all the rich assholes do. So there's going to be a flood of indictments to follow with lots of rich assholes finally being held accountable, right?

Right?

...

Yeah, that's what I thought.

They are selective about which rich assholes are indicted. The Biden capos can sleep soundly.

[Lokmar]

And exactly how much money were the banks bilked out of? I need to know because I'm gonna hit those same assholes up for a 5 million dollar loan on my $300,000 house.

[DKG]

They are selective about which rich assholes are indicted. The Biden capos can sleep soundly.

Precisely.

[Biggie Smiles]

Once again they're gigging him for something all the rich assholes do. So there's going to be a flood of indictments to follow with lots of rich assholes finally being held accountable, right?

Right?

...

Yeah, that's what I thought.

It's just the two tier justice system at work again

[Garraty_47]

It's just the two tier justice system at work again

I would argue Trump is actually in a third tier... the one reserved for political persecutions.

Ordinarily his money, status, and connections would protect him but when he got involved in politics he stepped all the way outside the standard "justice" system. They've got a whole different set of rules out there.

[DKG]

Hunter Biden was sent more than $250K in wires originating from his business partners in China, and the address of Joe Biden's home was listed as the beneficiary address.

[Oerdin]

Does this mean anyone who has a disagreement about property price evaluations is now guilty of "fraud"?  I do understand that lying about the square footage of a penthouse apartment would be fraudulent though.  I am not sure how that fraud damaged anyone.

Claiming you house is bigger than it is harms other people how?