'Shark Tank' investor Kevin O'Leary warned businesses against incorporating in New York State after a ruling handed Donald Trump a nine-figure punitive damages fine.
He says forget Trump , and then goes through it all, but Trump did the fraud consistently to a level noone else would ever dream of.
Most people who do this type of fraud add 20% value perhaps to squeeze a bit more cash out of it. Trump went full on 500% valuation on things that will never add up or reach the value.
It’s a clear difference, not another one of these "both sides’ type arguments they try to lower everyone down to.
The bank accepted those numbers. The bank testified as a witness for Trump. They said they did not lose money. The forms clearly stated these were made up numbers.
Fraud typically requires a victim. This is the only fraud case I know of that there is no victim. That is the point Mr wonderful is making. We are not punishing people when all parties were fine with the deal and there is no victim.
The people of the state are the victim. While everyone else (the people) has to play by the rules, Trump chose to not play by the rules. The act alone is the unlawful activity, not the result.
The state isn’t damaged. The bank is would be the victim and they said they were not damaged. They reviewed the data, made adjustment and issued the loans.
First time there has been a victimless fraud lawsuit.
Yeah man I see your comments all over the thread and it’s just you repeating the same talking points about an activity you seemingly are not currently comprehending.
If I was a betting person, and I am, I’d bet it’s not going to make it past the first level of appeal (state appellate court), let alone get to SCOTUS. Plus, it’s a state case, not federal, so it’s even less likely to end up before SCOTUS.
I’m not sure you understand how courts work. The appellate court is just a step to SCOTUS. SCOTUS rarely hears cases until the lower courts have had a chance to have an opinion. A state case has nothing to do with whether SCOTUS will hear it or not. That is some weird logic. SCOTUS deals with laws and whether they are constitutional.
Since the primary motivation is to stop him from running for president, this concerns our Republic. I get you like fascist policies and people, but I don’t. No American should. As the other developers have said this is crazy shit. Why many have publically announced they won’t do business in NY and the governor released a comment in response.
Mr. Wonderfuls whole argument is disingenuous.
He says forget Trump , and then goes through it all, but Trump did the fraud consistently to a level noone else would ever dream of.
Most people who do this type of fraud add 20% value perhaps to squeeze a bit more cash out of it. Trump went full on 500% valuation on things that will never add up or reach the value.
It’s a clear difference, not another one of these "both sides’ type arguments they try to lower everyone down to.
The bank accepted those numbers. The bank testified as a witness for Trump. They said they did not lose money. The forms clearly stated these were made up numbers.
Fraud typically requires a victim. This is the only fraud case I know of that there is no victim. That is the point Mr wonderful is making. We are not punishing people when all parties were fine with the deal and there is no victim.
The people of the state are the victim. While everyone else (the people) has to play by the rules, Trump chose to not play by the rules. The act alone is the unlawful activity, not the result.
The state isn’t damaged. The bank is would be the victim and they said they were not damaged. They reviewed the data, made adjustment and issued the loans.
First time there has been a victimless fraud lawsuit.
Yeah man I see your comments all over the thread and it’s just you repeating the same talking points about an activity you seemingly are not currently comprehending.
I Comprehend just fine. We will see what scouts says about the case. I suspect they’ll overturn it.
If I was a betting person, and I am, I’d bet it’s not going to make it past the first level of appeal (state appellate court), let alone get to SCOTUS. Plus, it’s a state case, not federal, so it’s even less likely to end up before SCOTUS.
I’m not sure you understand how courts work. The appellate court is just a step to SCOTUS. SCOTUS rarely hears cases until the lower courts have had a chance to have an opinion. A state case has nothing to do with whether SCOTUS will hear it or not. That is some weird logic. SCOTUS deals with laws and whether they are constitutional.
https://reason.com/volokh/2024/01/14/new-yorks-civil-lawsuit-against-trump-is-unconstitutional/
https://thehill.com/regulation/court-battles/4235447-trump-law-being-used-in-new-york-fraud-trial-may-not-be-constitutional/
Since the primary motivation is to stop him from running for president, this concerns our Republic. I get you like fascist policies and people, but I don’t. No American should. As the other developers have said this is crazy shit. Why many have publically announced they won’t do business in NY and the governor released a comment in response.
Fraud requires a crime and evidence.