Letitia James Trying to Nail Trump for ‘Losses No One Ever Suffered,’ Former Fed Prosecutor Says
Letitia James Trying to Nail Trump for ‘Losses No One Ever Suffered,’ Former Fed Prosecutor Says
Former federal prosecutor Andrew McCarthy argues that New York Attorney General Letitia James and Manhattan Supreme Court Justice Arthur Engoron are inventing losses to try to get Trump. McCarthy believes that James’ case alleging civil fraud is baseless and lacks evidence.
This week, former President Donald Trump testified in the civil fraud case brought by James, who claims that he and the Trump Organization inflated property values to secure better loan terms. James is seeking $250 million in penalties and a ban on Trump and his company doing business in New York.
Before testifying, Trump confidently stated that his company’s financial statements were conservative and that there was no fraud. He emphasized that lenders were responsible for conducting their own due diligence to determine the value of the assets.
After testifying, Trump expressed his belief that there is no case and no victims, as everyone involved was paid. He criticized James, calling her a disgrace to the country and the state of New York, and suggested that she should focus on addressing violent crimes and murder in the city.
In September, Engoron ruled that Trump and the Trump Organization committed fraud against lenders and insurers by inflating property values. He is now presiding over a non-jury trial to determine the penalties for the former president and his company.
Is this a political prosecution?
Yes
No
Last week, James’ attorneys presented a bank expert who claimed that the Trump Organization saved $168 million in loan interest payments due to inaccurate property valuations. However, McCarthy dismisses this claim and argues that banks are sophisticated enough to assess asset values independently.
McCarthy further points out that even if Trump’s properties were overvalued, there is no evidence that the banks would have charged higher interest rates. He suggests that the banks would have taken into account various factors when setting loan terms, such as Trump’s payment history and their own desire to earn money through lending.
McCarthy also questions why the banks themselves did not sue Trump if they believed they had been defrauded. He concludes that James and Engoron are inventing losses that no one ever suffered in an attempt to bring down Trump.
Trump’s legal team has requested a directed verdict, asking Engoron to dismiss the case based on the evidence presented at trial, including Trump’s testimony.
The post Letitia James Trying to Nail Trump for ‘Losses No One Ever Suffered,’ Former Fed Prosecutor Says appeared first on The Western Journal.
Why does McCarthy question why the banks themselves did not sue Trump if they believed they had been defrauded
Letitia James, the New York Attorney General, is currently pursuing a civil fraud case against former President Donald Trump and the Trump Organization. The case alleges that Trump and his company inflated property values to secure better loan terms and seeks $250 million in penalties, as well as a ban on Trump and his company doing business in New York. However, former federal prosecutor Andrew McCarthy argues that James’ case is baseless and lacks evidence.
Last week, the Trump Organization testified in the civil fraud case, with Trump himself confidently stating that the company’s financial statements were conservative and that there was no fraud. He emphasized that lenders were responsible for conducting their own due diligence to determine the value of the assets.
Following his testimony, Trump expressed his belief that there is no case and no victims, as everyone involved was paid. He criticized James, calling her a disgrace to the country and the state of New York, and suggested that she should focus on addressing violent crimes and murder in the city.
In September, Manhattan Supreme Court Justice Arthur Engoron ruled that Trump and the Trump Organization committed fraud against lenders and insurers by inflating property values. Engoron is now presiding over a non-jury trial to determine the penalties for the former president and his company.
However, McCarthy questions the case presented by James, arguing that banks are sophisticated enough to assess asset values independently. Even if Trump’s properties were overvalued, there is no evidence that the banks would have charged higher interest rates. McCarthy suggests that the banks would have taken into account various factors when setting loan terms, such as Trump’s payment history and their own desire to earn money through lending. McCarthy also questions why the banks themselves did not sue Trump if they believed they had been defrauded. He concludes that James and Engoron are inventing losses that no one ever suffered in an attempt to bring Trump down.
Trump’s legal team has requested a directed verdict, asking Engoron to dismiss the case based on the evidence presented at trial, including Trump’s testimony.
In conclusion, Andrew McCarthy argues that Letitia James’ case against Donald Trump and the Trump Organization alleging civil fraud is baseless and lacks evidence. McCarthy believes that losses are being invented in an attempt to bring Trump down, and questions why the banks themselves did not sue if they believed they had been defrauded. The trial will continue to determine the penalties for Trump and his company.
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