Submitting fraudulent real estate prices in order to gain a larger loan from a lender is fraud.
Someone paying above listing price for your home is not fraud. Have you guys never seen a bidding war on a property? Remember how during the pandemic, people were paying stupid money, way above asking price for houses? People overpay for real estate all the time, and for some really stupid reasons sometimes. Some people will overpay just because the previous owner was famous or an idol of theirs. As long as the new buyers weren't given fraudulent information about the property (square footage, for example), then them choosing to overpay for a property is not fraud.
Before people get butt hurt about my post, let me clarify that I don't believe President Trump is guilty of anything. First of all, he has real estate lawyers and tax attorneys doing his loan papers and doing his taxes. If anyone did anything illegal, it was them. Second, what President Trump is accused of is what pretty much every large commercial real estate developer does, to one extent or other. They're simply singling President Trump out because of who he is.
Now, having said that, people really need to work on that whole "research" part of being an elite research board.
What Trump was prosecuted for was basically using two sets of books for the same property, depending on who that information was being given to. For example, when information was given to a lender for a loan, an apartment building would be said to have a high rate of occupancy, the square footage of the apartments would be increased, and the rent rates would be increased. That way he could get a higher loan.
But when information would be given to tax authorities, for the very same building, the occupancy rate would be lower, the rents would be lower, the square footage of the apartments would be lower. That way he could pay lower taxes.
THAT is what makes it fraud. Knowingly giving loan officers or tax accessors information that is not true in order to benefit from it. (Again, not saying Trump is guilty of anything. I personally couldn't care less if he never paid a penny in taxes in his life.)
But people need to understand the basics of what they're talking about. Especially if they're going to try to be redpilling anyone. Please don't make the entire group look ignorant.
Some of these posts are just mind bogglingly dumb sometimes.
I was surprised to see it on the NYPost. At least the top comment here is pointing out how it's not fraud, even if it's still pivoting to another theory without any evidence.
This comment should be stickied even if a bit harsh.
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Submitting fraudulent real estate prices in order to gain a larger loan from a lender is fraud.
Someone paying above listing price for your home is not fraud. Have you guys never seen a bidding war on a property? Remember how during the pandemic, people were paying stupid money, way above asking price for houses? People overpay for real estate all the time, and for some really stupid reasons sometimes. Some people will overpay just because the previous owner was famous or an idol of theirs. As long as the new buyers weren't given fraudulent information about the property (square footage, for example), then them choosing to overpay for a property is not fraud.
Before people get butt hurt about my post, let me clarify that I don't believe President Trump is guilty of anything. First of all, he has real estate lawyers and tax attorneys doing his loan papers and doing his taxes. If anyone did anything illegal, it was them. Second, what President Trump is accused of is what pretty much every large commercial real estate developer does, to one extent or other. They're simply singling President Trump out because of who he is.
Now, having said that, people really need to work on that whole "research" part of being an elite research board.
What Trump was prosecuted for was basically using two sets of books for the same property, depending on who that information was being given to. For example, when information was given to a lender for a loan, an apartment building would be said to have a high rate of occupancy, the square footage of the apartments would be increased, and the rent rates would be increased. That way he could get a higher loan.
But when information would be given to tax authorities, for the very same building, the occupancy rate would be lower, the rents would be lower, the square footage of the apartments would be lower. That way he could pay lower taxes.
THAT is what makes it fraud. Knowingly giving loan officers or tax accessors information that is not true in order to benefit from it. (Again, not saying Trump is guilty of anything. I personally couldn't care less if he never paid a penny in taxes in his life.)
But people need to understand the basics of what they're talking about. Especially if they're going to try to be redpilling anyone. Please don't make the entire group look ignorant.
Some of these posts are just mind bogglingly dumb sometimes.
I was surprised to see it on the NYPost. At least the top comment here is pointing out how it's not fraud, even if it's still pivoting to another theory without any evidence.
This comment should be stickied even if a bit harsh.