In the wake of Friday’s trial verdict that fined former President Donald Trump nearly $355 million and banned him from doing business in New York for three years for alleged over-valuation of his properties, Gov. Kathy Hochul is trying to assure New York business owners that the state is not targeting them for potential prosecution.
TheHill.com reported Hochul, a Democrat, appeared on a New York City radio talk show this weekend and insisted the Trump case was an anomaly.
“I think that this is really an extraordinary, unusual circumstance that the law-abiding and rule-following New Yorkers who are business people have nothing to worry about, because they’re very different than Donald Trump and his behavior,” said Hochul, adding business owners have nothing to fear because “by and large, they are honest people and they’re not trying to hide their assets and they’re following the rules. And so this judge determined that Donald Trump did not follow the rules.”
The governor added she did not have the authority to overrule Judge Arthur Engoron’s decision because “the governor of the state of New York does not have a say in the size of a fine, and we want to make sure that we don’t have that level of interference.”
Photo: MTAPhotos / Flickr Creative Commons
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I still don’t know who the aggrieved party is and who is the restitution party? All the bank reps said they made money and we’re happy with the results this seems like they are targeting someone they don’t like.
It’s so obvious. It’s an anomaly.
That statement is accurate. It’s ONLY cause it’s Trump.
I agree that there were no victims in this case. The banks that I have dealt with in the past never make a real estate loan without doing their own due diligence. They typically hire independent appraisers to verify the loan to value is within their guidelines and policies. In light of this situation, I want to know where the fines will be going since there are no plaintiff/victims? Will this money go into the general coffers of the state of New York, or to the Prosecutor’s Office? I have yet to hear who will get this money. Does anyone know?
Some people claimed without reference he avoided taxes by undervaluing his assets. In reality the governments have a tax assessor that values property. While you can appeal the appraisers tax value the assessor has the final decision in most cases unless you to court, which didn’t’ happen on property value.
Let’s face it NYC needs money to pay for the migrants that are receiving Free Hotel rooms, a Credit card each month for $ 1,000 Free food, medical and much more. While they attack the NYC police mug people on the street and are let out only to be back on the streets. The Mayor asked the President for money to safe the city and he said no. So who did they turn to Trump, I like to know if has to pay what will the state do with the monies ? Trump made the city and the people along with the banks and businesses money so where is the Crime ? What about Senators Dodd & Frank and the great loans they received has anyone ever look into those deals?
😂🤣
The aggrieved party is all the businesses and people who abide by the law. All the folks who don’t commit fraud. When any person commits illegal acts and/or fraud everyone else is the loser. When did we get to the place that as long as you can get away with it, that it should not matter? Any other person would be subject to the law why not a rich so-called businessman? Every law abiding citizen ought to be offended.
Seriously? Are you that ignorant? It’s people like you that are the biggest problem in this country. God help the USA.
That is rubbish. Even if you abide by he law hey often go after people and bleed them dry financially.What proof do you have of other businesses and people being harmed? Of are you just blowing smoke out of your rear. I”m sure the judge would love to see your proof to impose another $100 million dollar fine . The Banks were very happy. NYC got huge tax base and a lot of taxes along with additional businesses that profited by Trump’s presence.
When this level of government surfaces and restricts a business entity it’s time to look at different environment. I also wonder who the aggrieved party is. Simply bad business. And it originated via government.
I would run and not walk away from the crazy liberal states. beware those in NY as and California…. they are coming for YOU!
“I think that this is really an extraordinary, unusual circumstance…”
Admission that this was a political prosecution.
“…that the law-abiding and rule-following New Yorkers who are business people have nothing to worry about,…”
You have a great deal to worry about.
“…because they’re very different than Donald Trump and his behavior,”
You better act the way we tell you to.
A few comments were who are the victims or the plaintiff, the victims of Donald Trump’s fraud, and crimes would be every single New York State citizen. he committed fraud by over valuing his properties when he wanted a loan and undervaluing them when he wanted a lower tax for his property. So at the very least, he short, changed New York State and New York City and property taxes so the money should go back to the state and the city and then it gets dispersed. However, they normally do stuff with their funds but that is your number one victim. This happens to be a very common practice with real estate people. A lot of people seem to forget how many banks lost millions and millions of dollars with Donald Trump with all his bankruptcies. All you have to do is do the research his airline went bankrupt. All of his casinos went bankrupt do some research and find out how many subcontractors had to go bankrupt all the life savings lost and some closed their businesses. All of these people worked on his buildings. He has a horrible reputation in business. And if I’m correct, he undervalued the Mar-a-Lago estate in Florida so he could pay a lower property tax on that property and that’s on his documents that he filed with the city of Palm Beach and then he values it again to get a better loan term or rates.
Evidently you are a moron if you truly believe that a property owner can unilaterally decide on his own real estate value for a lower tax payment. I can assure you that the County Assessor’s office is the entity that assigns the appropriate value for any real estate parcels and that the real estate property taxes are calculated based on the Assessor’s valuation. I am assuming you were joking as there is no way you could be this uninformed.
I would love to live in a place where the government totally accepts my value of my property. That’s why we have tax assessors. While you can appeal their valuation and even go to court to protest the assessment in long term the assessor determines that taxable property value and the amount of taxes, not the homeowner. So unless the Tax Assessor was working for Trump there is no tax fraud,
But doesn’t the government give tax breaks to most big business so they will develop in their area? This is common practice. “We need money to pay for all the chaos we are committing.” is really what she is saying. City crying about affordable housing for the illegal immigrants. Trump has money we need and we need to bankrupt him so he can’t run and he will go away so we can do what we want. BTW, my property is worth 150k and I would like to pay taxes on 150k so I will go to the assessors and they will change it for me so I won’t have big taxes. IDK could he have done this? Of course he did, all big businesses do!!! Industrial parks are full of tax break businesses. Las Vegas casinos don’t pay the taxes for the public schools. Nobody would starve if the casinos in Las Vegas provided for the schools and poverty. Give me a break!! I do find Trump entertaining and a better president than the last 50years presidents. At least he brought all the corruption to light. So did the corona virus. NY is corrupt and Hochul lies. Look into what they did to Senator Ted Stevens from Alaska back in 2006. To turn the Senate from Republican to Democrat. Eric Holder lead prosecutor. They also accused his son, Ben, of the same crimes. Ted Stevens died in a mysterious plane crash. The justice department is corrupt and has been for years. US Attorneys like Eric Holder are promoted in the justice system for unethical conduct by withholding evidence and putting innocent people behind bars. We are in deep trouble in the USA and these people who respond, don’t think critically, or do any research into history, are destroying the country.
Agreed 100% with all of the above. No crime committed. The government gets a ton of undeserved cash. Totally a political prosecution. Completely unfair – and sets a future precedent for others. I would add: Mira Lago is worth $18M?????? Seriously????
This is yet another reason why I quit doing business in the city of New York. There are too many options outside of the Big Apple. Do as I dictate and you’ll be fine. If not, your business will end up like Trump’s.
To determine if “fair” remove the name Trump from the verdict. Regardless, the ruling will only deter future development in New York. What is apparent in terms of “harm” is whether actual “harm” resulted from the development, employment, and tax revenue generated by the portfolio of properties regardless of alleged over-valuation.
What Hochul is really saying is, if we don’t like you or your politics What Out, we’ll come after you. Also note her choice of words, he broke Rules which is clearly not the same as breaking Laws. Corrupt to the core.
Teresa and Joe Giudice of Housewifes of New Jersey went to prison because of fraud. They were accused of exaggerating their income back when they were applying for loans. MAGA Trump was also exaggerating his wealth and value of his properties based on whether he was paying taxes or applying for a bank loan. Guess ex President’s who committed fraud as a citizen are now exempt from prosecution. New York finally brought justice to citizens who commit fraud including MAGA Trump. There wasn’t any political connections but justice.
Whenever someone and even a supposed expert or government spokesperson says you have nothing to worry about – that is the time to worry.
What about the millions and millions of Americans who outright lied on their RE loan apps between 2004-2006, and thereby caused $30 trillion in financial damages worldwide as result of the Great Recession? Only one person was jailed, and the main lending institutions were fined merely pennies on the dollar compared to the $30T in damages when they “looked the other way” when Americans chose to lie on their loan apps. NY performed nothing less than a targeted witch hunt against him.