Queen Laetitia Has Spoken!

mundus

Duke status
Feb 26, 2018
37,297
16,344
113
We are not talking about somebody over-estimating the value of their house here.

We are talking about knowingly lying about properties used as collateral on hundred-million dollar loans. Over and over.

Any of us did that we'd be on a one-way bus to Lompoc in short order.
That he never paid back.
 

JTS

Legend (inyourownmind)
Sep 22, 2004
361
140
43
We are not talking about somebody over-estimating the value of their house here.

We are talking about knowingly lying about properties used as collateral on hundred-million dollar loans. Over and over.

Any of us did that we'd be on a one-way bus to Lompoc in short order.
yeah I think they call that “Bank Fraud”
 

sussle

Rabbitt Bartholomew status
Oct 11, 2009
8,425
7,820
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it's either one or the other and it's fraud either way.
either he committed tax fraud by using unreasonably low valuations when dealing with tax authorities, or he committed fraud on his lenders and insurers by using valuations significantly higher than those he reported to the state and federal governments.
 

Duffy LaCoronilla

Duke status
Apr 27, 2016
39,131
28,674
113
it's either one or the other and it's fraud either way.
You can have two different valuations in regard to taxable value and retail value. In fact, that is the norm. Again, I’m not commenting on Trump specifically. I’m commenting on what you said.

The tax assessment on my home is significantly less than what a bank would give me for a home equity line. Like a really really significant difference.

And with a rental/investment property there’s actual income that would be taxed and potential income which is higher, that a bank might use to place a value on the property.

Also, let’s say you’re getting a loan to make improvement. The bank might base it’s loan on the value of what the property will be after the improvements are made but you’d only be paying taxes on the current value.
 

$kully

Duke status
Feb 27, 2009
60,250
17,020
113
Remember the angst about the $950 valuation of theft not worth prosecuting?

Are you saying we should increase that to $250,000,000?

I mean, it will lessen the prison population. Seems libertarian. Might as well arm them too. :beer:
ifall wants to hang black people who do a smash and grab at an Apple Store without due process but when a rich manchild in orange grease paint defrauds the system of hundreds of millions of dollars it doesn’t really matter.
 

kidfury

Duke status
Oct 14, 2017
24,991
10,741
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"Don Lemon, often called “the dumbest man on television” having made even Lebron James look smart during their interview two years ago,"

not racist
 

kidfury

Duke status
Oct 14, 2017
24,991
10,741
113
Wow! You're a member of Truth Social? I've never even been on that site. Do you enjoy your time there? Bet there are a lot of Trump Deranged folks like you there.
Don't go on there. Would burst your bubble.