Deutsche Bank gave me a $290 million loan against a property that I told the IRS was worth less than

[soothsayer]

Link to tweet

?s=21


Donald J. Drumpf
@RealDonalDrumpf
#HowYouKnowItsNotFair Deutsche Bank gave me a $290 million loan against a property that I told the IRS was worth less than $20 million.

[Indykatie]

1. I Have Always Thought it Would Be This Kind of Basic Financial Fraud That Brings TFG Down.

People are sent to prison everyday for lying on bank applications. It's not a sexy crime but it's an easy to understand crime with cut and dry evidence.

[spanone]

2. Go to Jail, go directly to jail, do not pass go, do not collect $200

that's called tax fraud, mr former guy.

[Danascot]

4. If I apply for a low 6 figure mortgage

they send in a team of proctologists. How does any bank loan hundreds of millions on the say so of a failed 'businessman'?

[spanone]

10. he must hypnotize people or threaten them, beats the hell out of me

[sarcasmo]

32. Deutsche Bank launders money for the Russians, that's why Trump received the loan.

[Turbineguy]

3. Bankers should choose their customers

carefully.

[Yavin4]

11. In this case, they did.

The customer was Putin.

[DanieRains]

20. Putin Backed His Loans

And look and the return he got.

[Rural_Progressive]

26. Not what he expected

second term was going to be the big payoff, Pooty poot not really happy about how it ended up playing out.

[Midnight Writer]

5. Trump will skate on this. No jury will convict him.

It will be just another Trump scandal, outraging the Left and leaving the Right yawning.

[soothsayer]

6. Or he'll settle. Can he settle in this kind of deal?

[Mr.Bill]

14. He doesn't have the money. n/t

[soothsayer]

15. Except he's been busy grifting. And didn't he just brag about mortgaging an asset in CA?

That empty building? Shoot now I gotta look.

[Mr.Bill]

17. He owns 30% of an office building

in San Francisco's financial district. The other partners just took out a loan on it. I'm sure Trump's share was mortgaged a long time ago. Probably for far more that it was worth. Trump's whole world revolves aroung having no equity in anything. Everything is hocked.

[soothsayer]

18. Ah, very good!

[soothsayer]

16. Here it is

Donald J. Trump
9:31pm May 19, 2021
A loan of $1.2 billion has closed on the asset known as the Bank of America Building (555 California Street) in San Francisco, CA. The interest rate is approximately 2%. Thank you!

[GB_RN]

21. This Is Criminal

Can't "settle" like a civil case. He might be able to cut a plea bargain - if his massive ego lets him, and the prosecutors are willing to cut one - but it's gotta get to that point first. Personally, I don't think that Letitia James/Cy Vance are gonna want to let him off that easy, if they've got the goods on him. They're gonna use RICO on his underlings and squeeze them like sponges for all they know and have them roll on "the boss", then go after Agent Orange.

[soothsayer]

30. Phew

[paleotn]

22. Criminal fraud. Negative.

[Yavin4]

13. +10000. He'll skate like Peggy Fleming at the Olympics. n/t

[Ilsa]

7. Did he lie on the application, or was this the only unencumbered asset

Deutsche Bank could use as collateral, thinking part of the loan will be unsecured?

I bet he lied on his application.

[Chainfire]

8. Perhaps it appears to be odd

because you aren't seeing the whole story. There may have been very good reasons why the bank was willing to transfer more money than a property was worth. Perhaps it was not the bank's money to begin with.... There are very crooked bankers like there are very crooked presidents and very crooked Supreme Rulers. Perhaps Trump was being paid, under the table for services rendered.

[rickford66]

9. The Russians were probably underwriting his loans.

Grooming him for money laundering and political advantage.

[wiggs]

29. Correct. nt

[LetMyPeopleVote]

12. This will be fun to watch

[keithbvadu2]

19. The fickle nature of real estate valuations?

The fickle nature of real estate valuations?

of course

[paleotn]

23. That's called....fraud.

[Hamlette]

24. this is the property he got conservation easement of $21M for not developing it.

To get the conservation easement he had to state he could develop it but won't. Problem is, he did not have authority to develop the property and he had been fighting in court to be allowed to develop for years.

[thesquanderer]

25. Doesn't make sense. We don't have a wealth tax. No reason for him to give the IRS a valuation.

The IRS cares what you buy someting for, and what you sell it for. It doesn't care what it's worth in the years in between. They don't ask, and it's not part of any tax reporting. What am I missing? I suspect this is a phoney meme.

[soothsayer]

27. Well the image is from a 2019 msnbc Rachel Maddow thingy

https://www.msnbc.com/rachel-maddow-show/trumps-alleged-financial-fraud-creates-important-new-vulnerability-msna1200161

[BobTheSubgenius]

28. Maybe he doesn't understand the difference between the Assessment Authority (or whatever it's called

in whatever jurisdiction) and IRS income tax. The only reason for low-balling to the IRS would be to lower your capital gain...but whatever value you happen to put on it means nothing. The price that the purchaser pays is what determines capital gain, less cost basis, and it would take some fancy footwork to disappear a pile of money that big, or some pretty major collusion with buyer, banker, agent, or any combination thereof.

The crimes start getting worse when you're in that territory.

[sarcasmo]

31. Tax fraud, real estate fraud, bank fraud, total fraud.

[Kid Berwyn]

33. Fraud is why the bluster.

Dumpy KNOWS he’s a con.