On The Stand, Trump Admits To Adjusting Property Valuations
“Did you ever think that the values were off in your statement of financial condition?” Assistant Attorney General Kevin Wallace asked the former president.
“Yes, on occasion,” Trump responded. “Both high and low.”
The pathological liar told the truth on the stand and incriminated himself. What a world.
I'm amazed that this guy still has supporters. A LOT of them.
is it just me, or is all the "I trusted the accountants" bullshit completely blown out of the water when you point out the time line of valuations, like:
1) you signed and approved that it was worth 15 million.
2) 6 months later, you signed and approved it was worth 50 million.
3) 3 months later, you signed and approved it was worth 15 million.
4) 5 months later, you signed and approved it was worth 50 million.
Each time to their advantage. Then it is utterly impossible to claim that they "didn't know" or they "trusted accountants".
Yes, I know the liability is already determined, Trump did commit fraud is an accepted fact by him and his lawyers. But it just seems that every time any Trump utters those "I didn't know" it seems the immediate response would be to prove that they did.
“Just for the record,” Wallace replied, “you weren’t president in 2021?”
“No, I wasn’t,” Trump acknowledged.
"Damning": Legal experts say NY AG got Trump to make "critical admission" in fraud testimony
ormer President Donald Trump appeared to confirm that the property valuations that his company submitted to banks and insurers were meant to "induce" loans from lenders while being questioned by prosecutors from the New York attorney general's office, legal experts say.
Counsel for the New York attorney general's office on Monday showed Trump a Deutsche Bank term loan agreement from the early 2010s that Trump had verified and signed. The prosecutor then asked Trump if the intentions to submit values of businesses and the properties of the Trump Organization were "in order to induce lending," Inner City Press' Matt Russell reported.
He was already found guilty though, this part of the trial is figuring out just how much money he has to pay.
I think the biggest realization from all of this is that the business deals Trump has engaged in have always been bullshit, but despite that admission, he publicly flaunts how successful he is in business. He's a dangerous sociopath.
Here's the house of cards he built in case anyone is confused:
Trump needs partners or a loan for a new project.
Banks or business partners demand evidence of total wealth and access to cash in case the deal goes south while in progress.
Trump creates dodgy assessment and financial data used as due diligence to justify the loan or partnership.
Banks or other businesses assume that Trump is telling the truth and don't demand more detail. Who would lie when the stakes are this high?
The deal is signed based on knowingly fraudulent information, Trump specifically stated that these documents have a notification that their accuracy is not guaranteed.
Trump uses these business deals to build more legitimacy, and uses that as a reference for future deals.
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