re: Jon Stewart overvalued his NYC home by 829%; he said Trump’s civil case as not victimless

Damn, he got me. I thought this was an "independent" summary of the case.

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And when you took out a loan to buy your home, did the bank assess its value or did they just ask you what you think it was worth?

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Whoops. You just agreed with Trump.

The application stated the buyers estimate and the bank, doing it’s due diligence, came to a value on its own.

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This property is included as an asset on Mr. Trump’s Statement of Financial Condition (statement) from 2011 to 2021 with values ranging between $90.9 million and $350 million. In July 2020, the Trump Organization received an appraisal with a value of $84.5 million, but on the 2020 Statement the Trump Organization valued Trump Park Avenue at $135.8 million.

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So he disagreed with another party on the value of an asset and that value was in the financial statements of a private company? You're calling that fraud? Are you insane?

Let me go slowly and walk you through a scenario.

Someone refinances their home when rates are low.

They submit to the bank an application that estimates the property is worth X, but only need to refinance .65X. The appraisal comes in and says the home is worth .9X but 80 percent of .9X is .72X so it gets them to greater than the 80 percent LTV you need to refinance so they let it slide. They then argue, based on the relative tax appraisals of similar properties that the value of the property is worth .75X to the tax appraiser and settle with the district at .85X.

Did this person commit fraud?

Because if so you're gonna need to throw about a million people in jail.

Lil Scrub ain’t going to understand that, he’s totally in over his head. Like most tards, he doesn’t even know it.

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He didn’t see that in the Wikipedia article he is posting.

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Boy, you're a dog with a bone on this Wikipedia thing, eh? (Despite the fact that all the quotes I listed are taken directly from the background document I linked)?

carry on

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You use facts very liberally considering the content of those summaries. Valuations aren't even "facts." They are educated guesses, and everyone has an interest one way or the other.

This is literally how the world works in case you haven't gotten there, yet.

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What? In real estate, buyers and sellers hire the services of appraisers. In theory, these are legit (don't get me started, they are a whole other close of shyster). So, you can call it an "educated guess" - but it's the "educated guesser" that is paid actual money to come up with a number that everyone agrees will be used.

This is the real world.

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So he disagreed with another party on the value of an asset and that value was in the financial statements of a private company? You're calling that fraud? Are you insane?

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I don't know if it's fraud, but it's certainly ridiculous. At the very least, it has ZERO comparison to Jon Stewart selling a property at a price to a person with money (which is what this thread is about).

I've said repeatedly I think the NY suit is absurd and a clear political witch hunt. That has ZERO to do with Jon Stewart selling a property and it makes people look stupid when they are acting like it's somehow the same.

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I'm simply saying Jon Stewart selling his home to a 3rd party buyer at a price above the tax appraisal has ZERO analogy to what Trump did.

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bullshite. He duped a 3rd party consumer who is presumed less sophisticated than a bank so it’s actually worse from a consumer advocacy point of view.

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I don't know if it's fraud, but it's certainly ridiculous.

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Wrong.

Categorically false.

Absurd.

He represented his interests to a willing counterpart in a bilateral negotiation.

This is business 101.

Citing this trash ag's warped perception of reality just puts the stink of stupid and corrupt on yourself.