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Oct. 7, 2023 - Epoch Times
14:56
Major Twist in Trump Fraud Case
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Good evening, and right before we dive into this wild story, I'll quickly mention that if you are sick and tired of all the censorship on this platform, as well as all the other platforms out there, and if you're looking for a source of actual honest news, well, consider checking out The Epoch Times, because they've recently extended their awesome sale on subscriptions, just 25 cents a week for the whole year, which, if you do the math, works itself out to just be a single dollar a month.
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Now, diving into the main topic.
This right here is President Trump, the current frontrunner of the Republican primary.
However, during this period of time that we're in right now, in the run-up to the primary election, Well, instead of campaigning around the country, President Trump has been right here in New York dealing with a legal matter.
That's because, among the many, many, many legal cases lobbied against him, you have the case, which was brought forth by the New York Attorney General, Ms.
Letitia James.
This 200-page civil lawsuit was brought forth back in September of last year, and it accuses President Trump, three of his adult children, as well as the Trump Organization, of lying about their asset values as well as their net worth.
In her lawsuit, Ms.
James claimed that over a 10-year period, from 2011 through 2021, President Trump and the other defendants had engaged in numerous acts of fraud and misrepresentation in the preparation of Mr.
Trump's annual statements of financial condition, Which included deceiving insurers, tax officials, and lenders by allegedly inflating the value of his properties, including his Mar-a-Lago estate in Florida.
Ms.
Letitia James claims that this lawsuit of hers is the result of a three-year-long investigation, and here is specifically what she is hoping to achieve.
Quote, Ms.
James, a Democrat, is seeking $250 million in penalties and wants to ban President Trump from doing business in New York and from engaging in real estate acquisitions in the state for five years.
She's also seeking for him and his children to be barred from serving as high-level executives at any company in New York.
Okay, so the claim brought forth by Ms.
Letitia James and her office is that President Trump, as well as his organization more broadly, they inflated the value of their assets in order to get better terms from banks and from insurers.
Meaning that despite the fact that these banks conducted their own due diligence, despite the fact that after doing the due diligence, they gave the Trump organization the loans, And despite the fact that these loans and all of the interest on the loans were paid back, well, the Attorney General, she still decided to sue the Trump Organization on behalf of the banks during the run-up to the 2024 election cycle.
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Now, for his part, President Trump maintains that these loans were negotiated fairly, the interest and the principal on the loans was paid, and that the only reason that Letitia James and her office has filed this lawsuit against both him and his family was purely for political reasons.
And this sentiment of his is shared by many other people as well.
For instance, we had the former Attorney General, Mr.
William Barr, who lately has been no fan of President Trump, and even he said that regarding this case, quote, So I think she was targeting Trump.
However, on the flip side, when Miss Letitia James was asked directly whether or not her case was politically motivated, well, here was how she responded.
The president of the United States has complained that I'm engaging in some sort of political witch hunt, that I've got some personal vendetta against him, that I campaigned against him.
That is not true.
I've not politicized the office.
And so her claim in that clip Is that it's not true that she has a vendetta against President Trump and that it's not true that she campaigned against him.
Okay, that's fair.
But the only problem with those statements is the fact that there are many, many, many video clips floating around the internet showing Miss Letitia James doing exactly what she said she didn't do.
Take a look.
These are just a few.
He's an illegitimate president who sits in the White House.
That president, because he's not my president, he's an illegitimate president.
His days are numbered.
His days are numbered.
We've got to get ready to mobilize and we've got to get ready to agitate and irritate until victory is won, but more importantly until Trump is defeated.
We will all rise up and resist this man.
And ultimately, we'll bring him down.
This illegitimate president, I'm going to give you the same level of respect that you gave to President Obama, and that is absolutely no respect at all.
Donald Trump has got to go!
Hey, hey!
Ho, ho!
Donald Trump has got to go!
Hey, hey!
Oh-ho!
I'm not a little!
Lock him up! Lock him up!
Lock him up!
That is pretty wild.
Regardless, getting back to the actual lawsuit, the Attorney General's office brought forth this case under a New York state law which requires the matter to be adjudicated at what's known as a bench trial.
This means that there is no jury in this particular case, and that instead it's the judge who applies the law and who decides the facts.
And so this means in practical terms that instead of a jury, the judge in this case will decide the ultimate outcome.
Now, the judge who's presiding over this case is this man right here, Judge Arthur Engeren.
And he's actually been overseeing this particular matter for the past three years now.
Quote, When the state attorney general, Letitia James, was conducting her civil investigation into Mr.
Trump's business practices, the judge, meaning Judge Alderaan, resolved disputes over the evidence.
Then, after she filed the resulting lawsuit a year ago, the judge began hearing arguments and ruled on pretrial litigation.
And in terms of the opinion of this judge towards President Trump, well, during an exchange last year with Trump's lawyer, this judge referred to the president as a quote-unquote bad guy.
That is also very cool.
And so this judge, after carefully weighing the facts of the case, well, he issued a summary judgment just last week against President Trump.
He found him liable of fraud in the state of New York, and he ordered the dissolution of his New York-based companies.
And as a part of this decision, here was what the judge wrote.
Quote,"...from 2011 to 2021, the Palm Beach County assessor appraised the market value of Mar-a-Lago at between $18 million and $27.6 million." Mar-a-Lago, located in Palm Beach, was valued by President Trump between $426 million and $612 million, which was an overvaluation of at least 2,300 percent compared to the assessor's appraisal.
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Meaning that one of the reasons that this judge determined that Trump was inflating his asset value was because, in the judge's estimation, Mar-a-Lago was only worth $18 million.
Now, to many real estate experts in the south of Florida, this was laughable.
And it's pretty easy to see why when you look at a map.
This little two-acre property here is a five-minute drive from Mar-a-Lago, and it's currently listed for $150 million.
Whereas, Mar-a-Lago itself, which is ten times the size, and it operates a commercial business on the property with around 500 VIP members as a part of their golf club, is, according to the judge, supposedly only worth $18 million.
Which is even wilder when you consider not only the value of the land, but also the fact that Mar-a-Lago has become an American icon.
In fact, you had a top real estate broker over in Palm Beach who spoke to the New York Post under the condition of anonymity say the following.
He also has the separate golf course minutes away.
Regardless, the judge in the case determined that, in his estimation, the property was only worth around $18 million between the years of 2011 and 2021, and that President Trump inflated the value when he was getting loans from banks.
Now there were other determining factors in making the decision, such as, quote, President Trump's triplex penthouse and Trump Tower being 30,000 square feet when it was closer to 11,000 were also described by the judge as fraudulent given their significant discrepancies.
Although in that particular instance, on the flip side, you had Trump's legal defense team argue that, quote, the calculation of square footage is a subjective process that could lead to differing results or opinion based on the method employed to conduct calculation.
Regardless, after everything was said and done, the judge ruled against President Trump and he ordered the dissolution of his companies within the state of New York.
And over the last few days, as I'm sure you've seen on TV, President Trump has been in court in order to determine what his fines will be, now that the judge has ruled against him.
The Attorney General, for your reference, is pushing for approximately $250 million worth of damages to be lobbied against both President Trump as well as the Trump Organization.
Now, for his part, over the last few days that he's been in court, President Trump has referred to this whole process as a sham and a distraction.
Here is, for instance, what President Trump said during court recess.
And this is what we have.
The scam is a sham.
Just so you know, my financial statements are phenomenal.
They are actually less, in terms of the numbers used, than the actual net worth.
The actual net worth is substantially more.
No bank was affected.
No bank was hurt.
They don't even know why they have to be involved.
And they're so testified.
They can't believe that they're involved.
Because they were paid back on time.
There were no defaults.
There were no problems.
It's a client.
In the meantime, people are being murdered all over the sidewalks of New York.
There was no victim here.
This has to do with election interference, plain and simple.
They're trying to damage me so that I don't do as well as I'm doing in the election.
Our country's gone to hell.
We have a country that's in decline, serious decline.
We have a man running our country who has no flu.
There's nobody What they've done with open borders, what they've done with interest rates and taxes, it's a disgrace.
So what we have here is an attempt to hurt me in an election.
It's an attempt to hurt me in an election.
Furthermore, just yesterday, President Trump's legal team filed an official appeal against this summary judgment.
Their appeal is 1,154 pages long, and here is part of what it says.
The New York Supreme Court's September 26th and October 5th decisions impose unauthorized, undemanded, overbroad relief without proper factual or legal predicate, which will result in significant, irreparable harm.
The New York Supreme Court clearly does not comprehend the scope of the chaos the decision has wrought.
The summary judgment is a miscarriage of justice.
And now this appeal process will begin playing itself out in court.
Furthermore, the judge in the case two days ago hit President Trump with a gag order after Trump posted a photo on Truth Social showing a clerk of the judges next to Senator Chuck Schumer, alluding to the fact that, in his opinion, Chuck Schumer is behind this whole case.
Now, funny enough, President Trump deleted that social media post soon after posting it, but the gag order is still in place.
And so, there you have it.
A completely above board and transparent process playing itself out over in the state of New York.
If you'd like to go through the details of this case, including all the relevant court documents that we discussed in today's episode, I'll throw all the links to them.
They'll be down in the description box below this video for you to check out at your own leisure.
And also, I'd love to know your thoughts.
Do you think that this case is indeed legit, and it would have been brought forth regardless of whether or not Trump was a political figure?
Or do you think that it's purely political motivated?
Or is it a little bit of both?
Furthermore, do you think that the timing of this case, set right in the middle of the primary election season, is a coincidence of timing or deliberate?
I'd love to know your thoughts.
Please leave them in the comments section below.
I'll be reading them later tonight as well as over the weekend.
And then, lastly, as I mentioned at the very top of the episode as well, if you are just sick and tired of all the censorship on this platform, with or without the federal government's involvement, well, you're in luck.
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Stay informed.
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