I'm confused about this Trump verdict.
So he has a 355 million fine for supposedly overvaluing his real estate to get better bank loans.
Why is it not the lenders he supposedly defrauded suing him instead of the state of New york?
Why is the state of New York interfering with private business?
Can someone explain this to me I'm kinda confused
Also who determines the value of real estate?
Is there some sort of Kelley Blue book for a real estate?
I just assumed that real estate was worth whatever anyone was willing to pay for it?
@basedbagel The government determines the value. They do take into account what current market rates are. But in the end, it's the appraisal district whose opinion matters. You can hire an appraiser or real estate agent to give a second opinion, but at best the court will just throw you a bone and lower it a tad, but that's it.
@RoninGrey @basedbagel @shortstories Ronin is correct about valuation of realestate. As to your question about why the lender didn't sue Trump and the state is as well as why not charge him with a crime, criminal court is more difficult in terms of getting a guilty verdict and achieving an conviction by design in the US. The government doesn't need to put someone behind bars to keep them out of power. Keep in mind that this verdict wasn't on whether or not Trump was guilty of fraud...
@RoninGrey @basedbagel @shortstories
...Additionally, "an Independent Director of Compliance shall be installed at the Trump Organization at defendants' expense to ensure compliance with financial reporting obligations and to establish internal written accounting..."
Trump opposed the government, and so they are levying a punishment fine and placing a political officer (I'm taking liberty with that title.) in his organization.
Full judgement: https://www.washingtonpost.com/documents/f203be39-020c-4f82-a423-96aa20c08e3a.pdf?itid=lk_inline_manual_1
