NY AG Sues Trump Family

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Res Ipsa
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NY AG Sues Trump Family

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The NY attorney general’s investigation into financial issues with respect to Trump and the Trump Organization resulted in the filing of a civil lawsuit. https://iapps.courts.state.ny.us/nyscef ... 67b4ec3336

It’s long and fairly boring, unless you are interested in how the Trump Organization was able to get loans. The reason it could was that DJT personally guaranteed the loans based on financial statements that significantly exaggerated his net worth and liquid financial resources.

You may recall that Trump’s accountant resigned in January and said it could no longer stand behind statements it had previously issued. The accounting firm has simply been compiling the statements based on figures provided by the Trump Organization. The Trump Organization represented to the accounting firm that it was following Generally Accepted Accounting Principles (GAAP), but wasn’t following them in a number of important respects. The result was a serious exaggeration of DJT’s financial position.

The primary remedy sought in the complaint is not damages, but disgorgement. Put simply, it seeks to require Trump to pay back the value of advantages he was given by lenders and insurance companies because he misrepresented his assets. It also seeks to temporarily bar Trump and his kids from real estate development in New York.
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Re: NY AG Sues Trump Family

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Seeking to stop the Trump wheeling and dealing is like Reagan asking Mr. Gorbachev to tear down a wall.
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Re: NY AG Sues Trump Family

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It is not enough to turn the federal alphabet agencies and justice department into political enforcers, now the democrats want to do the same in every blue state. They will succeed. And then they will bitch and moan about the consequences.
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Re: NY AG Sues Trump Family

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Trump can argue that valuations are subjective, as he has in previous suits. What he cannot deny is square footage. When he says his 11,000 square foot apartment is actually 30,000 square feet, that is not a subjective difference.

Leticia James is saying is that the hundreds of times that Trump and his family have refused to answer incriminating questions by pleading the 5th are to no avail. Commentators have noted that the one group of people Trump has refused to throw under the bus are immediate family.

Trump is now saying that Leticia James is a racist. Yeah, that'll work.
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Re: NY AG Sues Trump Family

Post by Chap »

Way to go, NY!!!

A place I like a lot ...
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Re: NY AG Sues Trump Family

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MeDotOrg wrote:
Wed Sep 21, 2022 6:41 pm
Trump can argue that valuations are subjective, as he has in previous suits. What he cannot deny is square footage. When he says his 11,000 square foot apartment is actually 30,000 square feet, that is not a subjective difference.

Leticia James is saying is that the hundreds of times that Trump and his family have refused to answer incriminating questions by pleading the 5th are to no avail. Commentators have noted that the one group of people Trump has refused to throw under the bus are immediate family.

Trump is now saying that Leticia James is a racist. Yeah, that'll work.
The problem he has with the examples in the lawsuit is that he used the financial statements compiled by his accountant, which state that they were prepared consistent with GAAP. The complaint alleges they weren't. It's one thing for Trump to go on television or give an interview and claim how much one of his properties is worth. It's another to make a representation to a bank that you followed defined standards in computing your net worth, when you didn't.
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Re: NY AG Sues Trump Family

Post by Moksha »

Trump is still using the term "Crooked Hillary" in his speeches. The cosmic irony is that Trump is the most crooked politician in American history. He took the crown from Boss Tweede some time ago.

Two Trump firsts:

1. Biggest crook
2. Most prolific liar
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Re: NY AG Sues Trump Family

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Oh gosh gosh golly heck. Breaking news on this topic.

Nothing will happen. This so-called suit is DOA. Add that one to the list of way good stunts by a way good stunt person.
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Re: NY AG Sues Trump Family

Post by Doctor CamNC4Me »

Is the mask finally off with Trump?

Image

:roll:

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Re: NY AG Sues Trump Family

Post by Hawkeye »

According to your new friend Bill Barr this is a political hit job. Letitia James campaigned on finding something to go after Trump on. Don't you usually find the crime first? Of course Bill Barr's opinion is no longer worth anything now that it cuts against the left.
The best part about this is waiting four years to see how all the crazy apocalyptic predictions made by the fear mongering idiots in Right Wing media turned out to be painfully wrong...Gasoline would hit $10/gallon. Hyperinflation would ensue.
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