Case could cost former president a fortune and end his control of the empire that made him the world’s most famous businessman.

 

 

People want to believe that something is the biggest and the greatest and the most spectacular. I call it truthful hyperbole,” Donald Trump wrote 36 years ago in his best-selling book, The Art of the Deal. “It’s an innocent form of exaggeration, and a very effective form of promotion.” This week a New York judge called Trump’s “truthful hyperbole” fraud in a ruling that could cost the former president a fortune and end his control of the business empire that made him the world’s most famous businessman and president of the United States.

Trump is mired in litigation but perhaps no case is more personal to him than the one set to begin on Monday at a Manhattan courthouse near the city’s financial district. The case, brought by New York attorney general Letitia James, comes after a three-year investigation into Trump’s complex and sprawling businesses. James contends Trump consistently overstated the value of his assets to broker deals and obtain financing.

 

What had looked set to be a months-long affair will probably be much shorter after New York supreme court Justice Arthur Engoron agreed and found Trump guilty of fraud days before the case had even begun.

The ruling struck at the foundations of Trump’s image, ending his ability to run his real estate company in New York state and, unless overturned, could force him to hand over control of his New York properties — including Trump Tower in midtown Manhattan from which he launched his presidential victory — to an independent third party, otherwise known as a receiver.

One essential question remains: how much will he have to pay up?

James is asking for a fine of at least $250m – the minimal amount, the office determined, that Trump’s company gained from fudging financial statements over the course of a decade to bolster the value of its assets. It is a huge sum, even for a man who claims to be as rich as Trump.

 

FULL STORY

 

 

I'll I needed to convince me he wasn't an effective business man was the fact he opened a casino in Atlantic City "The Taj" and it failed! Casinos are money making machines. How the hell do you run a casino business into the ground?

3 minutes ago, likerdup1 said:

I'll I needed to convince me he wasn't an effective business man was the fact he opened a casino in Atlantic City "The Taj" and it failed! Casinos are money making machines. How the hell do you run a casino business into the ground?

Using OPM.................Other Peoples Money! Trump makes America look silly!

This trial is a little different than the others, because the facts are not in dispute.

 

The only question is whether committing business fraud is really a crime. The Trump fans will post that Trump's actions were just smart business.

I had a business associate who never spent money, his company paid all of his bills, so he never filed an income tax return.

 

One day, the NY Times did a big story on him (he rented the Mir space station), someone in the IRS checked him out, found no tax returns, and then the fun began.

 

He ended up doing seven years in the slammer.

 

So yeah, tax fraud is a crime. So is business fraud. 

Looks like the chickens are finally coming home to roost perhaps after all these years of ripping off contractors and workers have caught up with him.i hope so!I would bet money his scoundrel kids are mad as h$&l lmao ???? serves them right 

This trial is a threat to the existence of Trump’s ‘business empire’.

 

He’s about to be exposed for the fake billionaire he is.

Trump just posted that he is going to court tomorrow.

 

In court, he will have to be accountable for his actions, so I seriously doubt if he will even personally attend and if he does, he will not utter a word.

 

He states he 'will fight for my name and reputation'.

 

Sounds like a fool's errand to me.

 

 

https://truthsocial.com/@realDonaldTrump/111163380817964382

 

 

Edited October 2, 20232 yr by LosLobo

Well I watched it the usual Trump running his mouth before the proceedings a bunch of bluster and threats plus the usual attacks on the da and judge.notably absent were protesters no blubbering crying throngs flailing themselves in sympathy for the fake billionaire wonder how Donnie’s going to sleep tonight knowing he’s beeing run out of town and possibly stripped of claims to the buildings that in reality belong to the banks sleep well don you earned it!

Trump's lawyers forgot to request a jury trial. Can you guess from the photo who made the mistake?

2 hours ago, Danderman123 said:

Trump's lawyers forgot to request a jury trial. Can you guess from the photo who made the mistake?

It's really amazing to watch.  It's a bench trial--agreed to by both sides--which means this case will be decided by a judge.  The same judge that Trump just attacked and will be attacking probably daily.  I mean....how stupid is that? 

Edited October 3, 20232 yr by Berkshire

23 hours ago, likerdup1 said:

I'll I needed to convince me he wasn't an effective business man was the fact he opened a casino in Atlantic City "The Taj" and it failed! Casinos are money making machines. How the hell do you run a casino business into the ground?

It happened before and after Trump, to smarter business men too. Do you really know that little about business to assume that operating a casino resort is so easy?  

On 10/3/2023 at 9:57 AM, Hanaguma said:

It happened before and after Trump, to smarter business men too. Do you really know that little about business to assume that operating a casino resort is so easy?  

Trump ran his father's highly successful real estate business into the ground. NY Banks stopped lending to him.

He way overpaid for the Plaza Hotel and ultimately that ended in a ruinous bankruptcy

He way overpaid for what became for Trump airlines and ultimately that failed.

He's a terrible negotiator.

What saved Trump was the huge success of "The Apprentice" in which he masqueraded as a super-successful businessman.