The idea is that Trump has "overvalued" the value of his property (Mar-a-Lago) and that this constitutes fraud, even though nobody has been defrauded.
In 2022, Forbes estimated the value of the estate at around $350 million.[27] Forbes said that 'Real estate experts outside of Palm Beach guessed that the place was worth more than $200 million. Brokers on the island thought it could be worth far more, with the most aggressive estimate coming in at $725 million. When Forbes last valued the property in March, we went with a conservative $350 million.' In a 2022 lawsuit filed by New York Attorney General Letitia James, it was alleged that Trump inflated the value of Mar-a-Lago to $739 million, when the property should actually be valued at $75 million.[41]
So actual real brokers declared that the property would be worth upwards of $725 million dollars, while Forbes conservatively estimated the value at $350 million. The banks themselves ignored the $739 million that Trump had suggested it was worth, as well ignoring all other real estate estimates, and used their own underwriting to value the property. They used their own values to determine the terms of the loan.
The judge is accepting $75 million as the actual value that Mar-a-Lago is worth and demanding that fraud was committed because the banks provided Trump loans on this property for a value higher than the $75 million. This $75 million comes from taking one state expert 100% at his word and ignoring all other opinions. The state "expert" suggested that the Trump organization should have paid much higher interest rates or not received the loan in the first place, the bank underwriting be damned. The proscutors are now suggesting that somehow the "state" is entitled to compensation for said fraud and is asking for $370 million in damages.
The state of New York now believes it has the right to sue companies for fraud, even when no fraud has been suggested by any party involved in the transaction. Not only that, but the state allows for the ability to basically bankrupt these companies at the whims and desires of prosecutors and elected Judges. This is not America folks. Not the America I grew up in.
Also sued Arizona and their actions before. And he wants more border money to process more illegal immigrants into our country. Not to stem the tide.
Biden has a lot of gall asking Mexico to help stop the flow of illegal immigrants when he sues Texas every time they do something about it.
John Hayward on X: "This is all perfectly understandable if you remember these people see the military as a gigantic social program and laboratory for imposing crackpot ideology on captive subjects, not a warfighting machine sworn to protect a nation more at risk than ever under Joe Biden." / X (twitter.com)
Maybe he did and Joe thought ICU was playing a game of hide-and-seek.
Biden is so void of respect, his secdef didn't bother to tell him he was in ICU for 4 days.