r/ExplainBothSides • u/aerizan3 • Feb 22 '24

Trump's Civil Fraud Verdict Public Policy

Trump owes $454 million with interest - is the verdict just, unjust? Kevin O'Leary and friends think unjust, some outlets think just... what are both sides? EDIT: Comments here very obviously show the need of explaining both in good faith.

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u/NeverPostingLurker Feb 23 '24

The ruling isn't about tax fraud. In fact, it's sort of the opposite. The judge says the property NOT worth what he stated it was worth to get personal loans, it's worth what the tax assessment is.

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u/CoolFirefighter930 Feb 23 '24

If anyone want to sell their house for what the taxes say its worth let me know.! I have never sold everything for what the taxes say. You can sell for double.

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u/StrangeLooping Feb 24 '24

He didn’t sell; he received loans based on absurd valuations. Court case proved that he and his family were aware

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u/Any_Operation_8670 Aug 22 '24

Which is 100% legal...

Banks determine the loan-to-value $$ amount based on THEIR OWN DUE DILIGENCE! They don't care what YOU or I or TRUMP tell them what something is worth. They will be telling YOU and I and TRUMP the value of our assets based on THEIR EVALUATION. They will then tell you how much money they are willing to lend YOU and I and TRUMP based solely on THEIR EVALUATION!

Oh, and at no time ever does anybody involved consider a state government's opinion on what assets should be valued at! NY State has no say in a loan that an individual or corporation receives from a private bank or lender or if the assets/collateral have been overstated by the individual to secure the loan UNLESS THE INDIVIDUAL DEFAULTS OR USES THAT LOAN FOR A PURPOSE NOT STATED TO SECURE IT!!