Donald Trump's New York fraud trial wraps up, with millions of dollars on the line

[rudi49jr]

23 minutes ago, nauseus said:

 

Not if these trials are really being conducted to prove guilt, it won't.

So when Trump gets acquitted in a trial, the system works, but when he gets convicted, the trial was just being conducted to prove guilt? Is that how you see it?

Kind of like how MAGA looks at elections: if the Republicans win, everything is hunky dory. But if they loose, the elections must have been rigged.

Like I said already: the minds of the MAGA cult members work in mysterious ways….

[still kicking]

4 hours ago, newbee2022 said:

2 walking wrecks you mean???

However, the Blog's name is Asian Now. Nothing to do with US. 

 It is posted in world news 

[metisdead]

Posts with nothing other than a trolling image contravening our Community Standards have been removed.

[nauseus]

45 minutes ago, rudi49jr said:

So when Trump gets acquitted in a trial, the system works, but when he gets convicted, the trial was just being conducted to prove guilt? Is that how you see it?

Kind of like how MAGA looks at elections: if the Republicans win, everything is hunky dory. But if they loose, the elections must have been rigged.

Like I said already: the minds of the MAGA cult members work in mysterious ways….

 

No. Your words. Not mine.

 

 

[LosLobo]

Trump has played the US Edition of Monopoly where the stakes are high, and the outcome is uncertain.

His strategy has lost him most of his hotels, houses and cash, with a pending move to 'Go Directly to Jail'.

His only chance now lay in a dice throw to Community Chest and a 'Get Out of Jail Free' card.

In real life, decisions have consequences, more so if you don't play by the rules.

 

Edited January 12 by LosLobo

[Danderman123]

2 hours ago, nauseus said:

 

Not if these trials are really being conducted to prove guilt, it won't.

That is the purpose of any trial.

[BusyB]

4 hours ago, Walker88 said:

Yes. Imagine a country where people are held accountable for their crimes! What's next? No automatic immunity? How is a dictator wannabe going to be able to assassinate his critics and political opponents? The HORROR!

 

I'm sure you either don't know or are incapable of escaping the vapors from trump's bloated backside, but here is the crux of the NY trial:

 

trump lied on his financial statements in the hope of getting reduced rates of interest (which is a crime in NY). At that time he was heavily investing in NJ casinos, too, so he was cash strapped. Had he not been able to get the reduced interest rates, he would not have been able to service the loans from NY. Also, the NY borrowings had personal guarantees, so non-payment would hit his wallet.

 

In NJ, he did a few things differently. He set up each property as an independent entity, with no personal guarantee. Collateral was the land and project itself. He borrowed from 72 banks, plus he issued junk bonds. As CEO of each of the NJ projects, he paid himself a massive salary, and used that money to repay his personally-guaranteed NY loans. He then declared bankruptcy for each of his NJ casino and hotel properties, stiffing the banks, bondholders and subcontractors who did the construction and renovation. He violated the covenants of both his NJ loans and the junk bonds, but lenders and bondholders knew he was tapped out and settled for 30 cents on the dollar or less as they assumed his land and properties. As you might know, those losses eventually get passed on to taxpayers, as the stiffed entities---banks, bondholders, subcontractors---put their losses against profits in order to reduce their taxes.

 

An amusing side story is that trump's father co-signed the NY loans, so was also personally liable. (The supposed "self-made" donny had his dad as co-signer of all his loans until his dad passed. trump also inherited $412 million when dad died, and had been receiving a massive allowance from dad since the age of 3, which amounted to over $100 million by the time his actually successful dad died. When a loan payment was due in NY, dad had an associate go into one of donny's NJ casinos and purchase $3 million in chips. That cash was then used to meet a loan payment in NY. Dad was charged with making an illegal loan.

 

One key part of the lawsuit is that it is illegal in NY to lie on bank loan applications and also to lie on insurance applications. The crime doesn't even require a victim, though there are victims in the fact that lenders and insurers---and their shareholders---earned less revenue. trump's claim that the banks should have done their own "due diligence" is both legally irrelevant and silly. If borrowers are not required to be honest, there would be no point in filling out a loan application. Lenders have to rely to a large extent on what loan applicants attest to with their signature on applications.

 

Oh, and the whining about an unfair judge is immaterial. trump's legal time had the choice of a bench trial or jury trial. They chose a bench trial, which means only one person---the judge---determines guilt or innocence. Judge Engeron (who received a bomb threat at his home just this week by a typical violent trump cult member, like the goobers who attacked the US Capitol at trump's urging), ruled that trump and his company committed fraud according to the NY law.

 

This is all a matter of public record, and can be accessed with a bit of Googling.

 

Thanks very much for the effort and understanding you put into this. It's explained a couple of things I hadn't known as well and I'm pretty well informed. Finance and biz was my beat in an earlier life.

 

It's just sad that the people who would benefit from your efforts aren't in the least bit interested in facts. They prefer the alternative variety - as if it's a choice.

[candide]

7 hours ago, Walker88 said:

Yes. Imagine a country where people are held accountable for their crimes! What's next? No automatic immunity? How is a dictator wannabe going to be able to assassinate his critics and political opponents? The HORROR!

 

I'm sure you either don't know or are incapable of escaping the vapors from trump's bloated backside, but here is the crux of the NY trial:

 

trump lied on his financial statements in the hope of getting reduced rates of interest (which is a crime in NY). At that time he was heavily investing in NJ casinos, too, so he was cash strapped. Had he not been able to get the reduced interest rates, he would not have been able to service the loans from NY. Also, the NY borrowings had personal guarantees, so non-payment would hit his wallet.

 

In NJ, he did a few things differently. He set up each property as an independent entity, with no personal guarantee. Collateral was the land and project itself. He borrowed from 72 banks, plus he issued junk bonds. As CEO of each of the NJ projects, he paid himself a massive salary, and used that money to repay his personally-guaranteed NY loans. He then declared bankruptcy for each of his NJ casino and hotel properties, stiffing the banks, bondholders and subcontractors who did the construction and renovation. He violated the covenants of both his NJ loans and the junk bonds, but lenders and bondholders knew he was tapped out and settled for 30 cents on the dollar or less as they assumed his land and properties. As you might know, those losses eventually get passed on to taxpayers, as the stiffed entities---banks, bondholders, subcontractors---put their losses against profits in order to reduce their taxes.

 

An amusing side story is that trump's father co-signed the NY loans, so was also personally liable. (The supposed "self-made" donny had his dad as co-signer of all his loans until his dad passed. trump also inherited $412 million when dad died, and had been receiving a massive allowance from dad since the age of 3, which amounted to over $100 million by the time his actually successful dad died. When a loan payment was due in NY, dad had an associate go into one of donny's NJ casinos and purchase $3 million in chips. That cash was then used to meet a loan payment in NY. Dad was charged with making an illegal loan.

 

One key part of the lawsuit is that it is illegal in NY to lie on bank loan applications and also to lie on insurance applications. The crime doesn't even require a victim, though there are victims in the fact that lenders and insurers---and their shareholders---earned less revenue. trump's claim that the banks should have done their own "due diligence" is both legally irrelevant and silly. If borrowers are not required to be honest, there would be no point in filling out a loan application. Lenders have to rely to a large extent on what loan applicants attest to with their signature on applications.

 

Oh, and the whining about an unfair judge is immaterial. trump's legal time had the choice of a bench trial or jury trial. They chose a bench trial, which means only one person---the judge---determines guilt or innocence. Judge Engeron (who received a bomb threat at his home just this week by a typical violent trump cult member, like the goobers who attacked the US Capitol at trump's urging), ruled that trump and his company committed fraud according to the NY law.

 

This is all a matter of public record, and can be accessed with a bit of Googling.

 

2 hours ago, BusyB said:

 

Thanks very much for the effort and understanding you put into this. It's explained a couple of things I hadn't known as well and I'm pretty well informed. Finance and biz was my beat in an earlier life.

 

It's just sad that the people who would benefit from your efforts aren't in the least bit interested in facts. They prefer the alternative variety - as if it's a choice.

It's a bit difficult to get a clear overview of Trump's scams because there are so many of them.

 

Even the NYPost reported about some of them recently! 😃

 

Donald Trump bluffed his way out of bankruptcy in the 90s — will this come back to haunt him during NY fraud trial?

https://nypost.com/2024/01/11/news/how-donald-trump-bluffed-his-way-out-of-bankruptcy-in-the-90s/

 

[honcho]

16 hours ago, Chomper Higgot said:

Well Trump had a go at getting the last word, rambled on with a load of irrelevant nonsense until the Judge got fed up of Trump’s  histrionic ranting and shutting him down.

 

Trump’s last words are reported to be ‘What is going on here?’.

 

What is going on Donny is you are being held accountable for your actions.

 

See you in court again next time.

 

 

its political persecution...you obviously suffer from trump derangement...... wake up and see the truth

 

[candide]

20 minutes ago, honcho said:

its political persecution...you obviously suffer from trump derangement...... wake up and see the truth

 

Trump's truth? 😃

[Georgealbert]

3 hours ago, honcho said:

its political persecution...you obviously suffer from trump derangement...... wake up and see the truth

 

 

3 hours ago, honcho said:

55555 so funny.

 

You only believe the lying conman, only his truth matters? Hope you are making your donations to help the poor victim.

 

Fake orange tan.

Fake comb over.

Me, me, me Narcissism.

God made Trump video.

I am the best of the best, I know more than any expert.

A genius using court orders to stop his grades being exposed.

The business leader that bankrupted 6 companies.

Let's nuke those hurricanes.

The billionaire scared to show his tax returns.

The president with that BEST health care plan, coming soon, look at these blank pages!

That new border wall, oh coming soon and Mexico will pay.

Guilty of sexual assault.

Impeached twice.

Covid will vanish in a couple of weeks.

Drink bleach will help.

The list is endless.

 

Stop using QAnon conspiracies and watching dawn of the dead. Look in the a mirror and ask how did I get here, that I lack the intelligence to see how stupid I am.

 

Trump appeals to the bigots, racists, poorly educated, misogynists, those scared by rainbows and those with the attention span of a gold fish. Wonder which hat fits?

 

Try reading what those who worked for him in government say.

 

https://news.yahoo.com/the-growing-list-of-people-donald-trump-hired-who-eventually-soured-on-him-171720536.html

 

 

Edited January 12 by Georgealbert

[Danderman123]

5 hours ago, honcho said:

its political persecution...you obviously suffer from trump derangement...... wake up and see the truth

 

That's what the legal stuff is about - to find the truth.

 

Do you disagree?

[Chomper Higgot]

6 hours ago, honcho said:

its political persecution...you obviously suffer from trump derangement...... wake up and see the truth

 

Nah, I just like to see crooks getting what crooks deserve.

 

See you at his next trial.

[Georgealbert]

Here is one Trump managed a small win. 55555

 

https://news.yahoo.com/donald-trump-says-ll-attend-161829332.html 

[paul1804]

21 hours ago, Trippy said:

So, can I just go to New York buy a 1 million dollar property, then go to the bank and get a 10 million dollar loan on it? Very trusting those New York banks.

If you had as much money and assets as Trump you quite possibly could have back then. 

[Trippy]

5 minutes ago, paul1804 said:

If you had as much money and assets as Trump you quite possibly could have back then. 

Maybe, but my point was it's on the lender to do due diligence. 

[Chomper Higgot]

1 hour ago, paul1804 said:

If you had as much money and assets as Trump you quite possibly could have back then. 

It’s yet to be reliably confirmed how much money/assets Trump actually has.

 

He’s sold a few of his most profitable properties in the last couple of years and is believed to upside down on many more.

 

It is my firm belief that anyone who has a positive net balance on their assets and liabilities is wealthier than Trump.

 

Which is why I believe a settlement of $360million in favor of NY might spell very real financial problems for Trump.

 

His supporters might think otherwise, but fail to ask the obvious question - ‘Why is a Billionaire constantly begging for their money?’

 

It’s a question deserving of an answer.

[Chomper Higgot]

1 hour ago, Trippy said:

Maybe, but my point was it's on the lender to do due diligence. 

The lender has a duty of due diligence to their share holders, but that’s just good business/investment practice.

 

The borrower has a legal duty to make accurate accounting statements and that’s a matter of criminal law.

[ozimoron]

1 hour ago, Trippy said:

Maybe, but my point was it's on the lender to do due diligence. 

 

If you lie to a lender they can sue you. It's also a criminal offense of fraud.

[candide]

4 hours ago, Georgealbert said:

Here is one Trump managed a small win. 55555

 

https://news.yahoo.com/donald-trump-says-ll-attend-161829332.html 

It's better with the title:

 

Donald Trump says he’ll attend E. Jean Carroll trial next week: “I’m gonna explain, I don’t know who the hell she is.” 😃

[Georgealbert]

15 minutes ago, candide said:

It's better with the title:

 

Donald Trump says he’ll attend E. Jean Carroll trial next week: “I’m gonna explain, I don’t know who the hell she is.” 😃

Yes read that follow on story also.

 

Trump seems mixed up what the Jean Carroll trial is about.

 

This trial is for his deformation, he has already been found guilty and received a fine as punishment, for the sexual assault.

 

 All he will do is present another campaign speech for his zombies, whin and cry as a victim, and if we lucky get himself into further trouble with more false information and defamation.

[LosLobo]

1 hour ago, candide said:

It's better with the title:

 

Donald Trump says he’ll attend E. Jean Carroll trial next week: “I’m gonna explain, I don’t know who the hell she is.” 😃

The pursuer of a 'licence to kill' is a serial denier of those he has known, from Stormy Daniels to Vlad Putin.

 

People Trump Knows and Then Claimed He Didn't: Photos (businessinsider.com)

PS (I am sure a 007 NFT would help pay his NY $370M fine).

 

 

Edited January 13 by LosLobo

[Danderman123]

31 minutes ago, LosLobo said:

The pursuer of a 'licence to kill' is a serial denier of those he has known, from Stormy Daniels to Vlad Putin.

 

People Trump Knows and Then Claimed He Didn't: Photos (businessinsider.com)

PS (I am sure a 007 NFT would help pay his NY $370M fine).

 

 

Maybe with his current dementia, Trump doesn't remember her.

[candide]

9 minutes ago, Danderman123 said:

Maybe with his current dementia, Trump doesn't remember her.

Ivana! What are you doing here? 😃

[Danderman123]

6 hours ago, paul1804 said:

If you had as much money and assets as Trump you quite possibly could have back then. 

Even Trump had to fake it to get the loans.

[gamb00ler]

On 1/12/2024 at 2:04 PM, newbee2022 said:

2 walking wrecks you mean???

However, the Blog's name is Asian Now. Nothing to do with US. 

Did you happen to notice that the aseannow forum has a World News section?

[Danderman123]

On 1/12/2024 at 3:10 AM, paul1804 said:

 Why are the Bidens & the Clintons not on trial here, they are the real villains and together with the Dems they will destroy the USA left unchecked. 

It's always interesting to see posters with issues get on here, throw out a bunch of unfounded allegations and then disappear. It's as if they have anxieties that are released here.

 

Not much point in responding to them, since it's just an emotional release.

 

It's like those Tea Party types who were angry because Obama was going to take away their Affordable Care Act coverage. 

[gamb00ler]

6 hours ago, paul1804 said:

If you had as much money and assets as Trump you quite possibly could have back then. 

Don't you mean

"If your Daddy had given you as much money and assets as Trump's daddy gave him you quite possibly could have back then"?

[ozimoron]

17 minutes ago, gamb00ler said:

Don't you mean

"If your Daddy had given you as much money and assets as Trump's daddy gave him you quite possibly could have back then"?

 

It's been demonstrated that if Trump had put the money in a blind trust at the beginning he'd be much richer than he is now.

[Georgealbert]

Yet more winning, Not!

 

The whole world is against the con man. 
 

https://www.politico.com/news/2024/01/12/trump-ordered-to-pay-393-000-in-legal-fees-for-nyt-reporters-00135430