An interesting question is this: IF Trump’s real estate was so much overvalued (meaning: the court believes it’s worth way, way less) then why the penalty is so ridiculously high (in comparison to the “real” low value)?
If the “real” value is $20m then the penalty should be $10m or $5m.
I think Trump should just default and wait for the appeal.
Basically, because the amount of the loans Trump had was so high.
One loan, the one for the Doral golf course was 125 million. 1% is 1.25 million
In the ruling the witness for state said he saved 8% per year. That's 10 million.
This is the language from the ruling.
In 2020 the Doral loan was $125,000,000. Applying the non-recourse rate of 10% (or .01) results in an interest payment of $12,500,000. Applying the
recourse rate of 1.9348% (or .019348) results in an interest payment of
$2,418,500. Subtracting the latter from the former yields a saving of $10,081,500, as seen on PX330
McCarty calculated the differences between interest rates and determined the following ill-gotten interest savings, which this Court hereby adopts as the most reasonable approximation of the ill-
gotten interest rate savings upon which evidence was presented at trial:
$72,908,308 from 2014-2022 on the Doral loan;
$53,423,209 from 2015-2022 on the Old Post Office loan;
$17,443,359 from 2014-2022 on the Chicago loan; and
$24,265,291 from 2015-2022 on the 40 Wall Street loan.
An interesting question is this: IF Trump’s real estate was so much overvalued (meaning: the court believes it’s worth way, way less) then why the penalty is so ridiculously high (in comparison to the “real” low value)?
If the “real” value is $20m then the penalty should be $10m or $5m.
I think Trump should just default and wait for the appeal.
If he defaults, the government will seize his NY assets.
Basically, because the amount of the loans Trump had was so high.
One loan, the one for the Doral golf course was 125 million. 1% is 1.25 million In the ruling the witness for state said he saved 8% per year. That's 10 million.
This is the language from the ruling.
Will the victims be compensated and made whole?