A New York judge who claimed that President Donald Trump committed fraud by assigning various values for his New York properties while he was developing his real estate empire is being described as "deranged," as Trump himself confirmed that there were no defaults on any of the loans and the lenders made money on the transactions.
The case is the real estate valuation dispute brought to the court, in a civil process after criminal prosecutors decided there was no evidence to support a criminal charge, by New York Attorney General Letitia James.
She had actively campaigned for office on her promise to "get" Trump in one way or another. Now, New York Judge Arthur Engoron has moved the political case forward by stating that Trump committed fraud, even though the property values he assigned to Trump properties are "insanely low," according to the man who bought and paid for them.
The Daily Mail's report on the dispute explained Trump could lose control of his properties, such as Trump Tower, under certain circumstances.
"The decision means Trump would still own the properties, but they would be placed in receivership," the report explained. "He would no longer be able to sell off any assets or use them to secure loans. If they are sold by the court, Trump would not see any returns until debts and liabilities have been paid."
The report quoted corporation experts as calling the judge's claims a "corporate death penalty."
Trump responded on his social media Truth Social platform:
"I have a Deranged, Trump-Hating Judge, who RAILROADED this FAKE CASE through a NYS Court at a speed never seen before, refusing to let it go to the Commercial Division, where it belongs, denying me everything, No Trial, No Jury. He made up this crazy "KILL TRUMP" decision, assigning insanely low values to properties, despite overwhelming evidence. AS AN EXAMPLE, HE VALUES THE MOST SPECTACULAR PROPERTY IN PALM BEACH, FLORIDA, MAR-A-LAGO, AT $18,000,000, WHEN IT IS WORTH POSSIBLY 100 TIMES THAT AMOUNT. His anger & hatred is politically motivated & unprecedented b those who watched! My actual Net Work is MUCH GREATER than the number shown on the Financial Statements, a BIG SURPRISE to him & the Racist A.G., Letitia James, who campaigned for office on a get Trump Platform. While murderers roam the sidewalks of New York, my banks are happy. All loans are current, or paid off in full, sometimes early, with no defaults or problems of any kind. There is also an IRONCLAD DISCLAIMING CLAUSE!"
He described the disclaimer clause, a component that is routine in many real estate transactions, as requiring participants to do their own independent research, analysis and due diligence on any of the financial statements included.
"This was fully accepted & acknowledged by the banks, but it didn't matter because all loans were good, & there were no defaults or problems of any kind," he said. "The banks were represented by highly sophisticated attorneys, were paid full interest, & made money."
He said politics – James' campaign promises to "get" him, and more, resulted in a "politically motivated witch hunt."
On the judge, Trump said, "Nobody has been as unhinged as this guy."
In fact, Engoron said he would not allow a trial by a jury to determine the outcome of the case; he would make the decision alone.
James had demanded Trump pay a $250 million penalty, and Trump had the option to appeal the judge's opinion.
James claimed Trump misled banks and others by overvaluing his assets to secure financing.
The judge refused to throw out the case, rejecting arguments from Trump's lawyers that since there was no evidence of harm, there was no ground for the lawsuit.