"Did @jonstewart commit fraud when he sold his penthouse for $17.5M?
NY listed its market value at $1.8M an AV at around 800k"
NOPE Not fraud, this is money laundering, baby!
Overvaluing a property to receive a loan is one thing.
Actually selling a property worth $1m for $17m?? Ha! It makes less sense than buying a Hunter Biden painting.
Is it a crime to sell something to a fool who is willing to pay far more than the real value? Sure it may be unethical, but isn't value based on what someone is willing to pay for it?
When the purchaser sells the property later for a loss, I presume they will write that off on their taxes. So who (over)paid for this property? You did.
"writing it off on their taxes" doesn't negate the damage of a failed investment/gamble. Sure it will lead to them paying less taxes, as it did for Trump all the years where he paid little taxes, but I don't see it as anything more than a failure on the purchaser's part.
An overpayment of 25% is a failure. When you overpay by multiples of the value it is a bribe, a payoff, or money laundering. Local politicians do this all the time.
No, but surely anyone with that kind of money would be wise enough not to pay 14x the market value for a property. But it sure is a good way to shift money around.
I don't have the juice to get a million dollar loan. But if I could show I and only I could buy Mar a Lago for $100,000,000. I could get a loan. What that judge did is the crime.
There seems to be a regular scheme like this working in Dutchess County, NY. When selling our place, I would review the county parcel records, and I found many where there was a big up, then down fluctuation in the prices over a short time, and it wasn't due to the market or remodeling. My theory is that someone buys a place at the going rate, then sells it to someone they know for a lower price, and then that person sells at the going rate, with that difference being some kind of payback, without it appearing as a simple cash payment. I probably only reviewed a few dozen houses, but found this on 3 or 4. I wouldn't be suprised if it is mafia related. The other scheme I see is where a business does very well for years, and then goes out of business. I believe that is probably a way to keep profits without paying taxes, so that on paper, it appears the business isn't making much money. The other one is a business that you notice never has customers, yet goes on and on for years. I think this is where on paper, the business appears to be doing well, with taxes paid on the supposed profits, but of course, the "profits" are likely from illegal business such as drug sales. "Breaking Bad" showed this where a car wash was used to launder the drug money.
Driving up property values artificially to expand the money supply by making new loans must make sense to someone. Then the really rich can buy the write off ,turn it back to the Banks and the Fed can cover.
"Did @jonstewart commit fraud when he sold his penthouse for $17.5M?
NY listed its market value at $1.8M an AV at around 800k"
NOPE Not fraud, this is money laundering, baby!
Overvaluing a property to receive a loan is one thing. Actually selling a property worth $1m for $17m?? Ha! It makes less sense than buying a Hunter Biden painting.
Is it a crime to sell something to a fool who is willing to pay far more than the real value? Sure it may be unethical, but isn't value based on what someone is willing to pay for it?
When the purchaser sells the property later for a loss, I presume they will write that off on their taxes. So who (over)paid for this property? You did.
"writing it off on their taxes" doesn't negate the damage of a failed investment/gamble. Sure it will lead to them paying less taxes, as it did for Trump all the years where he paid little taxes, but I don't see it as anything more than a failure on the purchaser's part.
An overpayment of 25% is a failure. When you overpay by multiples of the value it is a bribe, a payoff, or money laundering. Local politicians do this all the time.
This is a good question ^^^ Wouldn't even be an issue if they didn't do it to Trump first. If you make the rules, you gotta die by them too kek
No, but surely anyone with that kind of money would be wise enough not to pay 14x the market value for a property. But it sure is a good way to shift money around.
The fool is the American public and the seller is the bi party Democratic and Republicans
I don't have the juice to get a million dollar loan. But if I could show I and only I could buy Mar a Lago for $100,000,000. I could get a loan. What that judge did is the crime.
There seems to be a regular scheme like this working in Dutchess County, NY. When selling our place, I would review the county parcel records, and I found many where there was a big up, then down fluctuation in the prices over a short time, and it wasn't due to the market or remodeling. My theory is that someone buys a place at the going rate, then sells it to someone they know for a lower price, and then that person sells at the going rate, with that difference being some kind of payback, without it appearing as a simple cash payment. I probably only reviewed a few dozen houses, but found this on 3 or 4. I wouldn't be suprised if it is mafia related. The other scheme I see is where a business does very well for years, and then goes out of business. I believe that is probably a way to keep profits without paying taxes, so that on paper, it appears the business isn't making much money. The other one is a business that you notice never has customers, yet goes on and on for years. I think this is where on paper, the business appears to be doing well, with taxes paid on the supposed profits, but of course, the "profits" are likely from illegal business such as drug sales. "Breaking Bad" showed this where a car wash was used to launder the drug money.
Unless he got a kickback from the sale ...
Or perhaps he included something else in the sale...
Like maybe he included a set of luggage with tags providing full access to the Comet Pizza canned tomato archives?
Or perhaps New Mexican Ranch sauce archives?
Driving up property values artificially to expand the money supply by making new loans must make sense to someone. Then the really rich can buy the write off ,turn it back to the Banks and the Fed can cover.