Tornado Alley (PROG)

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hap0206, Trump would inflate his properties to get bigger loans. And to boost his position in any Richest People list. In this case we can believe Cohen.

Trump ‘inflated his total assets when it served his purposes,’ Cohen alleges in his hearing, citing financial documents
By Jonathan O'Connell and David A. Fahrenthold
February 27, 2019 at 7:45 p.m. EST
https://www.washingtonpost.com/politics/trump-inflated-his-total-assets-when-it-served-his-purposes-cohen-alleges-in-his-hearing-citing-financial-documents/2019/02/27/4c41d4e2-3ab3-11e9-a2cd-307b06d0257b_story.html

Why do you think Mazars USA bailed on Trump.

The Trump Organization used to borrow from major banks. Now look who's lending it money.

An examination of legal filings, internal documents and land records shows Axos Financial has a history of handling atypical loans.

VIDEO 02:05 What is Axos? The bank funding Trump’s loans

April 7, 2022, 6:34 PM AEST
By Gretchen Morgenson

Donald Trump used to bank with the big guns. Now he’s borrowing from Axos Financial, an obscure, internet-only institution based in San Diego and Las Vegas.

In mid-February, Axos refinanced a $100 million Trump Tower mortgage due in September, a New York City Finance Department document shows. The new loan was made just days after The Trump Organization’s auditor resigned, saying that 10 years of the company’s financial statements could not be relied upon.

In lending to The Trump Organization, Axos is stepping up when other banks have balked. But this is not unheard-of for Axos. An examination of legal filings, internal documents and land records shows Axos has a history of handling atypical loans.

Axos has teamed up with nonbank lenders on loans to small businesses that carried cripplingly high double- and triple-digit effective annual interest rates, loan documents show. The bank has also specialized in loans to foreign nationals, internal documents and its website state, and has offered a type of loan that allows borrowers who paid cash for a property to turn around and instantly take money out. Such loans may pose money laundering risks, banking analysts say.

https://www.nbcnews.com/politics/donald-trump/trump-organization-used-borrow-major-banks-now-look-lending-money-rcna22068

"Apparently, you know nothing about commercial real estate-- it is simple -- its value is what it can produce in real dollar returns -- does not matter a whit what someone says it is worth -- if you say it is worth $100m, then it must produce $8m/yr in cash flow if you want an 8% on your investment -- and the $8m must be documented to get someone to pay you $100m for the property -- banks want to know the cash flow on the property before lending a dollar -- and why would you want to inflate the value of your property to an insurance company -- oh, oh - I know -- so you can pay a higher premium -- right -- jeez
P - plus, the banks lending to trump have not incurred losses, so what is the point of your post
P - get real"

OK. Let's get real in your world world ... A rap sheet for a former president
[...]
Pre-presidency crimes
Manhattan District Attorney Cyrus Vance Jr. has stated .. https://www.nytimes.com/2020/09/21/nyregion/donald-trump-taxes-cyrus-vance.html .. in public documents that the subpoenas he served to obtain Trump’s tax and financial records are part of an investigation into possible crimes committed before Trump became president. Cohen testified .. https://www.washingtonpost.com/politics/trump-inflated-his-total-assets-when-it-served-his-purposes-cohen-alleges-in-his-hearing-citing-financial-documents/2019/02/27/4c41d4e2-3ab3-11e9-a2cd-307b06d0257b_story.html?itid=lk_inline_manual_37 .. before Congress that Trump would alter statements of his wealth and assets to suit his purposes. When seeking a loan to buy the Buffalo Bills, for example, Trump overstated his

net worth to boost the appearance of his creditworthiness, Cohen said. On his tax returns, according to Cohen, Trump would understate the value of his assets to lower his tax bill. Potential crimes include bank, insurance and tax fraud; money laundering; and preparing false business records.
P - Similar allegations .. https://www.washingtonpost.com/national-security/eric-trump-new-york-attorney-general/2020/09/23/5970bb24-fd44-11ea-8d05-9beaaa91c71f_story.html?itid=lk_inline_manual_42 .. led a court to order Trump’s son Eric to appear for a deposition in a civil investigation brought by the New York attorney general. The deposition .. https://www.cnn.com/2020/10/05/politics/eric-trump-deposition-nyag/index.html .. occurred Oct. 5. Among the topics reportedly probed was a $21 million deduction taken by the elder Trump on a property known as Seven Springs, outside New York City. The deduction was claimed because Trump donated an easement on the forest surrounding the retreat to a public land trust for conservation purposes .. https://www.washingtonpost.com/politics/trump-got-a-21-million-tax-break-for-saving-the-forest-outside-his-ny-mansion-now-the-deal-is-under-investigation/2020/10/07/de84c1ba-ff6b-11ea-830c-a160b331ca62_story.html?itid=lk_inline_manual_42 . Some have questioned the appraisal of the property as sketchy. While those proceedings are civil in nature, they may further illuminate any criminal conduct in the business practices of Trump and the Trump Organization.
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