03-25-2024, 01:15 PM
(03-25-2024, 12:56 PM)Sociopathicsteelerfan Wrote: Based on his posts I think it's rather obvious he doesn't believe Trump committed fraud.
Trump committed fraud, but the financial benefit is pretty questionable. It COULD have resulted in a slightly higher interest rate, but that's impossible to determine conclusively.
For example, if Trump claimed Mar-a-Lago was worth $1B, the bank would almost certainly have ignored that and substituted their own valuation. But I believe he claimed like $240M, and FMV estimates were maybe 20-30% below that. My guess is 20% would be on the high side of your typical real estate "fudging", certainly not as egregious as claiming his NY residence was 3X bigger than it was.
DB exec testified it haircut his claim of net worth more than half - to $2.5B from the $5.8B Trump claimed. So what happens when you overvalue property? It serves to inflate your equity in that property, which inflates your net worth. So I don't think Trump's valuations would have led to a lower interest rate with DB.
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