The Don claims that his loans were paid back and the banks were happy. A perfect client.
This is now a watch this space moment. If you hoodwink a bank and convince them that your income/assets are significant and that gains you a very large loan at a low interest rate vs the reality where you should have only been offfered double or triple the interest rate…. That is fraud. That is obtaining financial gain by deception. It doesn’t matter that you paid it back.
I don’t recall any of the banks appearing as witnesses for the defence, offering their support for the Trump organisation.
So the banks woukd be entitled to seek damages AND go to the police about fraud.
He was fined because of the tight US (not just New York) market place laws about these things. They are not new laws. Trump was not treated any differently. Other states where he carries out business are also looking into their shit.
“The court intends to protect the integrity of the financial marketplace and, thus, the public as a whole,” Justice Engoron wrote.
The ruling in Donald J. Trump’s civil fraud case could cost him all his available cash. The judge said that the former president’s “complete lack of contrition” bordered on pathological.
www.nytimes.com
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In other news, his daughter in law in now in charge of the Republican party $$ after the recent blowback when it was revealed that Trump pulled $50m from party donations to pay for his personal legal fees.
Lara Trump is in the political spotlight after her father-in-law Donald Trump tapped her to be co-chair of the Republican National Committee (RNC). She is no stranger to politics, having served as …
thehill.com