Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

[SCrider]

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.

nypost.com

LOL the usual lib hypocrisy. If Trump got taken to court then so should Jon Stewart, but since he's a lib we know thats not gonna happen. Rules for thee but not for me.

Wow, way to go NYpost you've completely embarrassed yourselves over some rando's ignorant tweet.

 

[lwf]

I already cited and linked it in post 131. The section is the judge defining what a materially false and fraudulent financial statement is.

You are misinterpreting this. He didn't say it is materially false. He said it's material to the investigation and to the criminal penalties for fraud, IF fraud is involved. It's similar to how organized crime is prosecuted. It isn't against the law for a janitor making minimum wage and paying taxes on this income to buy multiple sports cars and penthouse apartments and travel to Dubai 3 times a year. But IF in fact he has more income than he is claiming, (as would clearly appear to be the case,) then he is committing tax fraud. If somehow he is NOT committing any actual fraud, then he is not guilty of committing any crimes.

In this case Trump committed actual provable fraud. He didn't just benefit from having a property with a greater market value than it was appraised for.

 

[Napoleon]

sure, but you have misunderstood and/or mischaracterized what was said

e.g. deciding to say that material = materially false

The context of that section is materially false financial statement in the valuation of real estate. He doesn’t make any distinction about how one gets there - he says, unqualified, that 10% and certainly 50% higher than tax appraised value is material in that context and assumptions relied upon to get there that differ from those of tax appraisers are deceitful and fraudulent.

 

[Simon W. Moon]

LOL. So your answer is "SQUIRREL!!"

I do not blame you for avoiding the topic.

Saying 3,000 sq ft = 30,000 sq ft is the kind of fraud which is indefensible

even for Trump defenders apparently

 

[Taylor]

See post 131. According to Judge Engoron, the baseline is tax appraised value and any representation of value above 10% of that and certainly above 50% of that is materially false and fraudulent. We’ve been saying all along how profoundly stupid that is, but you guys are just now catching up.

Slowly but surely - well maybe not surely - they're catching on.

 

[Simon W. Moon]

The context of that section is materially false financial statement in the valuation of real estate. He doesn’t make any distinction about how one gets there - he says, unqualified, that 10% and certainly 50% higher than tax appraised value is material in that context and assumptions relied upon to get there that differ from those of tax appraisers are deceitful and fraudulent.

ftsoa, let's take everything above at face value

'material' still does not mean 'materially false'​

words mean things

 

[OrphanSlug]

Looks like we are talking about multiple things between what Stewart did and Trump did, but no matter... I'll get some popcorn for this show.

 

[notquiteright]

Of COURSE we understand what Trump went to court for. A rat DA campaigned on a promise to 'get Trump' and was elected by a bunch of mindless rat retards that support her use of fabricated charges to target a political opponent.

Its repeating in other rat districts. The idiot left loves to pee themselves and shriek NAZI! and FASCIST! while at the same time they also LOOOOVE their rat party using tactics that would make fascist dictators throughout history proud.

I'll have to look it up, but I want to say that's what Al Capone said when the Gubmint was coming after him for tax evasion when other criminal prosecutions were falling flat... 'Damn rat DA who campaigned on 'getting me' is making this a witch hunt'. Damn weaponized FBI couldn't get me so they attack my tax returns....
Mobsters seem to sing the same song no matter the decade...

 

[Geoist]

LOL. So your answer is "SQUIRREL!!"

He provided you a specific example of the fraud Trump committed... and you cry squirrel...

 

[jmotivator]

He provided you a specific example of the fraud Trump committed... and you cry squirrel...

Well, no. The case against Trump in his overvaluation of is properties. The Stewart example shows why the tax assessment should NEVER be used to determine the market value of a home, and the bank loan cares about market value, not tax assessment.

I mean this new idiotic path you are going down would be the kind of thing you might expect from someone seeking to undervalue their property for the purpose of taxes, but the assertion in the Trump case is that he overvalued his home, and the tax assessor would be the one who establishes the property dimensions for the property they are assessing.

 

[BlueTex]

Some do care and consider it fraud. My old bank wouldn't write a loan if the downpayment was a loan from another institution. Don't know what that means to the State, but it is fraud to claim the downpayment is my cash when it isn't....

The federal government cares...

Federal Jury Convicts Former Baltimore City State’s Attorney Marilyn Mosby

A federal jury today convicted Marilyn J. Mosby, age 44, of Baltimore, Maryland, on the federal charge of making a false mortgage application when she was Baltimore City State’s Attorney, relating to the purchase of a condominium in Long Boat Key, Florida. The jury acquitted her of making a...

www.justice.gov

 

[Geoist]

Wow, way to go NYpost you've completely embarrassed yourselves over some rando's ignorant tweet.

NY Post is essentially a glorified tabloid. But the MAGAts would have us believe it's a legit news source.

 

[Geoist]

Well, no. The case against Trump in his overvaluation of is properties. The Stewart example shows why the tax assessment should NEVER be used to determine the market value of a home, and the bank loan cares about market value, not tax assessment.

Keep flailing. The sq ft issue has everything to do with the property valuation.

 

[jmotivator]

Keep flailing. The sq ft issue has everything to do with the property valuation.

LOL. Not flailing, just pointing out the idiotic attempt to redirect the facts in the Trump case.

Did dropping a zero in the square footage impact a loan assessment or tax assessment?

 

[Simon W. Moon]

Well, no. The case against Trump in his overvaluation of is properties. The Stewart example shows why the tax assessment should NEVER be used to determine the market value of a home, and the bank loan cares about market value, not tax assessment.

I mean this new idiotic path you are going down would be the kind of thing you might expect from someone seeking to undervalue their property for the purpose of taxes, but the assertion in the Trump case is that he overvalued his home, and the tax assessor would be the one who establishes the property dimensions for the property they are assessing.

In the case against Trump for Trump over valuing Trump's properties, Trump said that a 3,000 sq ft space was actually a 30,000 sq ft space.

Do you feel this 27,000 sq ft discrepancy was the result of "fair market value determinations" of the formula for determining area?

Or something else?

 

[Geoist]

LOL. Not flailing, just pointing out the idiotic attempt to redirect the facts in the Trump case.

Did dropping a zero in the square footage impact a loan assessment or tax assessment?

What does a zero have to do with going from 11,000 sq ft to 30,000 sq feet?

In the past, Trump has stated in bank documents that his triplex is a sprawling 30,000 square feet. However, recent evidence suggests that this number is a vast overestimation. In reality, the triplex is only around 10,996 square feet, which is roughly one-third of the figure Trump quoted.

Court Documents Expose Trump Actually Knew His Manhattan Penthouse Was Only A Fraction Of The 30,000 Square Feet He Claimed — CFO Says Size Was Too Trivial To Be Concerned Considering Trump's $5 Billion to $6 Billion Net Worth

Former President Donald Trump has been embroiled in numerous controversies over the years. One of the more intriguing allegations recently brought to light concerns the size of his penthouse at Trump Tower in New York. New York Attorney General Letitia James has put forth several allegations...

finance.yahoo.com

 

[WillyPete]

You didn't say anything. Your questions are not real questions.

I was responding to your claim that the banks weren't harmed, when that's already been determined to be true.

Your repetition of old, discredited claims isn't going to help Trump in court, and so I wonder who it does help.

Trump's not going to win on appeal claiming no crime was committed.

 

[WillyPete]

I would think that since the rat DA has proved she is willing to use the power of the state to target political opponents using common legal processes and that she is willing to fabricate victims and prosecute on behalf of banks that not only approved of the process but stated clearly they would do business with the man again...then all developers in the state should pull up stakes and move their businesses elsewhere.

Yeah, but proving some to YOU isn't of much value, you have a glaring bias.

Do you think you could convince anyone else, maybe a court officer?

 

[Slartibartfast]

The MAGA outrage over this false equivalence will be a good comedy skit for Jon.

 

[Geoist]

The MAGA outrage over this false equivalence will be a good comedy skit for Jon.

Can't wait!

 

[Napoleon]

Keep flailing. The sq ft issue has everything to do with the property valuation.

The judge didn’t use such a qualifier. He made an absolute judgement that there can only be one method of appraising value - the tax appraiser’s method. If you appraise value using any assumption that differs from those used by a tax appraiser and arrive at a 10% and certainly 50% difference then you’ve committed deceit and fraud.

By his logic, every real estate agent in California and New York should be in the slammer for fraud because they consider even tenuous association of a property with a celebrity as an assumption that adds substantial value whereas tax appraisers don’t give a hoot about that.

 

[Airyaman]

Do you?

Of course I do. See my posts in this thread.

 

[Geoist]

The judge didn’t use such a qualifier. He made an absolute judgement that there can only be one method of appraising value - the tax appraiser’s method. If you appraise value using any assumption that differs from those used by a tax appraiser and arrive at a 10% and certainly 50% difference then you’ve committed deceit and fraud.

By his logic, every real estate agent in California and New York should be in the slammer for fraud because they consider even tenuous association of a property with a celebrity as an assumption that adds substantial value whereas tax appraisers don’t give a hoot about that.

I've already addressed your statements. You are gaslighting and misrepresenting what the judge said.

 

[Napoleon]

I've already addressed your statements. You are gaslighting and misrepresenting what the judge said.

I’m repeating exactly what the judge said as cited and sourced.

 

[Airyaman]

No one who is a homeowner will believe any of the bullshit you just said.

Most regular folk have to fight appraisals of their home value because they could never sell it for the appraised value. And a rich celeb is getting appraised at 18 times less than what they could sell it for…

If you don’t think that something illegal is going on with that you are a damn fool

There is nothing illegal about this at all. Please take less than 5 minutes to inform yourself so as to not look ignorant.

Can You Sell a House for More than the Appraised Value?

Discover if you can sell a house for more than its appraised value, navigate appraisal gaps, and maximize your sale with our easy-scan guide.

www.homelight.com

Can I sell my house for more than the appraised value?

Yes, it’s possible to sell your house for more than its appraised value, especially in a seller’s market where demand exceeds supply. However, the buyer’s ability to secure financing at a higher price can be a hurdle unless they’re willing to pay the difference in cash or have secured appraisal gap coverage.