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Tripling value of Trump’s NYC penthouse
was ‘minor’ mistake, ex-CFO testifies
at civil fraud trial

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Posted By: 4250Luis, 10/12/2023 7:18:28 AM

Exaggerating the size of Donald Trump’s Manhattan penthouse on financial documents amounted to just a minor mistake, his longtime finance chief testified Tuesday — waving off one of the key claims in the New York attorney general’s fraud case against the ex-president. Former Trump Organization CFO Allen Weisselberg acknowledged that a 1994 document listed the Trump Tower triplex at its true size of 10,996 square feet — rather than the bloated 30,000 square feet that Trump, 77, allegedly falsely claimed for years on financial statements. But Weisselberg said the misstated value of the apartment was “de minimis”

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Reply 1 - Posted by: Krause 10/12/2023 7:41:06 AM (No. 1575463)
I think that the NY AG needs to come out with strict estimation guidelines for net worth items, A new department will need to be set up to help people with these procedures. All new loans will have to pass through the AG department for approval. Tish can handle all this.
7 people like this.

Reply 2 - Posted by: Quigley 10/12/2023 7:54:52 AM (No. 1575476)
Excellent suggestions #1. Her family can set up a business to manage all these approvals. On the down low, of course. Unfortunately, the article gives no real color of exactly what was done - claiming my house to be bigger than it is is not a crime - or the materiality of it to whom. As usual, "Trump did bad things" is the extent of the evidence. In my state, anyone can go online and look up how many square feet anybody's residence is in the tax records. It is difficult to believe that New York does not tax real estate. So "investigating" how many square feet someone's condo is would entail a few minutes online using public records. Could any lender say they relied on Trump''s alleged statements when easily available official records state the facts? In my state, my personal residence is exempt from my creditors. Is it true in New York? Did creditors even have the legal right to seize the residence to pay his debts in the event of default? Why do these articles never reveal what it is that Trump was supposed to have done?
11 people like this.

Reply 3 - Posted by: czechlist 10/12/2023 8:24:34 AM (No. 1575498)
habeas corpus? where/who is the victim of this 30 year old "crime"?
7 people like this.

Reply 4 - Posted by: Namma 10/12/2023 8:39:45 AM (No. 1575514)
Correct me if I am wrong, but if the value was overstated, Woukd PRESIDENT Trump have paid higher taxes then he should have? If so, the man is owed a refund. He should Sue!
16 people like this.

Reply 5 - Posted by: cor-vet 10/12/2023 9:13:52 AM (No. 1575558)
When has any lender not verified a property's loan value before making the loan?
15 people like this.

Reply 6 - Posted by: Rumblehog 10/12/2023 11:26:27 AM (No. 1575690)
No frauds were perpetrated. Anyone familiar with the 1980's TV show, "Lifestyles of the Rich and Famous" would know that "inflating" the perceived value of "things" whether yachts or penthouse suites, is no crime, never has and never will be. In the world of big money, anyone who pays sticker is a sucker. It's a wonderful thing, the "FREE" market.
1 person likes this.

Reply 7 - Posted by: danu 10/12/2023 12:32:08 PM (No. 1575733)
would you go to the ny ag's office to hire a realtor, get a mortgage, and buy a house? these ppl shed i q points on a daily basis.
3 people like this.

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