Name:   GoneFishin - Subject:   An Actual Example Of Trump Fraud Date:   10/2/2023 9:38:20 PM (updated 10/2/2023 10:24:26 PM)

Trump did a few things that have created his problem of fraud. First, he liked to appeal that his property assessments were too high. That was his right. However, he would then turn around and raise the assessed value many times when he created a valuation of his assets.

When he wanted to borrow $100,000,000 on a building, he would submit a list of all his income and assets. The bank would do their due diligence on the building he was using to seek the loan. They would then give him a loan using the building value, his income, and assets.  The bank certainly could not visit each of the buildings he listed in his assets statementbut and would accept his statement as true since he signed it.  Because of his inflated assets, he would get a lower interest rate and more favorable repayment terms. No different than the IRS accepting your tax return because you signed it as true.

Here is an actual example…. He has an apartment in Trump Tower. It is 11,000 square feet….on his statement he valued it as 30,000 square feet and stated its worth $327,000,000.

“Donald Trump’s Triplex Apartment at Trump Tower, New York, NY Valuations of this property were calculated using objectively false numbers. For example, the apartment was valued as being 30,000 square feet when it was actually 10,996 square feet. As a result, in 2015, the apartment was valued at $327 million in total, or $29,738 per square foot. That price was absurd given the fact that at that point only one apartment in New York City had ever sold for even $100 million, at a price per square foot of less than $10,000, and that sale was in a newly built, ultra-tall tower. In the 30 year-old Trump Tower, the record sale at that time was a mere $16.5 million at a price of less than $4,500 per square foot. “

There are many, many other examples that the court has called fraud.

A little different than trying to sell a house at an inflated price. That is not fraud but good business if you can pull it off with a buyer paying cash.