Scratch the surface and you can see the bondo and the salvage title.
Trump company controller McConney admitted on the stand that his appraisal of $500 million was wildly inaccurate. The amount was based on splitting the property up into individual units. When the prosecutor pointed out the deed had been restricted to keep from sub dividing and to remain as a club (a condition of the sale in 2002), the controller admitted he had known that when he submitted the fraudulent value. I didn't see an explanation why he had continued to claim 500 mill when he knew for a fact the property was worth nowhere near what he claimed.
Since it has to stay in one piece, that reduces its value. Unless you want a club.
In case anyone was looking for some provable fraud (like claiming 11000 sf is 30000 sf) this looks like a good example. The controller clearly knew he was misrepresenting the value.
This is also a good example of trumpys ignoring facts that the court takes full notice of while they (trumpys) also display their lack of understanding of evidence and application of the law.
Since I'm not an attorney and don't play one on TV, I don't presume to be an expert in the field. But it doesn't take an expert to recognize bad actors in the field either.
This article is from Oct. 5th.
https://abcnews.go.com/US/live-updat...7?id=103642561
Trump company controller knowingly over valued mar-whereever
