If Trump intentionally committed fraud on his taxes and or loan representations, then he needs to suffer the full consequences.
However, its going to take a little more than a youtube documentary showing two numbers that are different.
It would be very odd if NY State (Democrat run) or the appropriate agencies responsible for overseeing these matters hadn’t looked into it by now.
As of now I feel pretty much in the same position as a liberal Democrat does when he hears a statement made by Project Veritas…namely fine…now lets wait for the details to come out…if there are any.
1 Like
You know, this is a fair post.
This is fair. City of New York is looking into the Property Tax issue, as they should. No indication they had looked into it previously.
This is not an auction but transactions where auditors and executives sign off an valuations… and are legally accountable for the accuracy of those documents.
I was just about to say the same when I saw you had posted that.
@DougBH that was a decent fair balanced post. I cannot argue with it.
A fair post but I do have to point out that ProPublica is not Project Veritas.
You can’t compare the two.
1 Like
It is structured to have to pay tax on the vacancy and not the occupancy. This benefited Trump by over 20%.
5 Likes
It’s a little esoteric but the article does explain it. It’s actually that they made it look like profits–and therefore ability to repay–would be way higher than they actually ended up being.
He reported a falsely low vacancy rate in 2012 so that it looked like they were filling vacancies faster than they actually were and claimed a bunch of tenants were still on promotional rates so revenue would soon be skyrocketing. In reality they’d already been pretty full and a bunch of tenants were just paying low rents due to lack of demand so profits ended up coming in way below forecasts.
Straight up fraud, but against the lender rather than the government in this particular case.
1 Like
The loan was made by Ladder Capital and then securitized as a bond.
This is potentially securities fraud.
Not good.
Which wormy slimebag in Congress on Republican side is going to stand up and make this an issue? No one. Zero. Zip. Why? They all don’t care about what’s right and what’s wrong. Trump is greater than the good of the country. I’ve said it hundreds of times, and I’ll say it hundreds more.
1 Like
further shady numbers.
in 2017 trump told tax officials he made 822k renting space in trump international hotel and tower to commercial clients
he told bank officials when he was getting a loan he made 1.67M
2 Likes
So tax fraud, bank fraud and securities fraud.
Well that’s cool.
Well this was a good college try…
For those of us who are not well versed in the psychological effect of words, when you say “Yes, but…” the “but” negates everything that came before.
1 Like
This story… which people don’t seem to care about for some reason… was broken by Pro Publica.
They have been doing a show with WNYC.
This episode is about how they got the information to make this discovery. on the two properties in question and the really shady stuff that is connected to this story.
https://www.wnycstudios.org/podcasts/trumpinc/episodes/trump-inc-numbers-dont-match
If all of this is true, this would mean that the President has committed bank fraud, tax fraud and securities fraud while running for the office of the President.
No wonder the lawyers are trying to make the argument that the President should be immune from even being investigated.
2 Likes
His supporters don’t care.
He could, I dunno, just spitballin’, throwin’ something out there, I dunno, shoot someone on Fifth avenue, and they wouldn’t care.
He knows that about them and he has known that about them for a long time.
They might be learning that about themselves in this and similar threads, but it’s unlikely.
2 Likes
Well, if the lower number is the actual number, it might not be tax fraud. Or vice versa.
But it’s obviously a fraud of some kind.
And I think - but am not sure - that lying to a bank is a federal crime as well.
Pro Publica looked at two properties that they were able to get the public records to via FOIA requests.
They were able to obtain the document because of an appeal about the property tax bill.
What is really interesting though is that the loan in question was made by Ladder Capital who is run by the son of Trump Inc.’s CEO Allen Weisselberg… so that loan got securitized and sold into the bond market.
That is mucho bad for quite a few people.
Yeah, but it bankers are famous for getting away with this ■■■■ all the time. “I didn’t know my father’s boss way lying to us about occupancy rates…”
Heck, this is essentially what all of wall street did and got filthy rich on before crashing the global economy in 2008.
1 Like
Yep.
Cause we stopped going after white collar crime.
