Trump Due Back in N.Y. Over AG James' Fraud Suit
Another Trump law suit;
Trump Due Back in N.Y. Over AG James' Fraud Suit
Donald Trump is scheduled to return to New York for a deposition Thursday in a business fraud lawsuit filed against him and his company by the state's attorney general, according to a person familiar with the matter.
James’ lawsuit alleges Trump and his company, the Trump Organization, misled banks and others, in part by providing them with annual financial statements that misstated the value of prized assets, including golf courses and hotels bearing his name.
James is seeking $250 million and a ban on Trump, a Republican, doing business in the state.
Anyone who has ever filed a financial statement, to get a loan or a mortgage, should know that there are always several prices and values on real estate, One is the tax assessor’s estimated tax assessment value, one is the owners estimated value, and another is the real estate market value. A fourth price could be what anyone is really willing to pay for it. They could all be different according to which one you are concerned with.
Every home or property owner gets an annual tax bill. The State, City, and county tax assessor sets what they estimate a piece of property is worth. And every home or property owner should contest that estimated value to try to get a lower price, and therefore a lower tax bill. But that does not mean the property is worth less on the real estate market. Then the property owner would be fighting for a higher value.
The real value of real estate fluctuates, sometimes tremendously, according to the economy and who is in office in Washington or in the State governments.
New York Attorney General Letitia James and this New York judge knows all this, but they don’t care. Not matter what Trump claimed was the value of anything at the time he filed those financial statements, they can and will claim it was wrong.
This is just another Get-Trump witch hunt.
If they can do this to Donald Trump - then they can do this to anyone.
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