| In Run
Up to AG James
Trump Trial
his lawyers
Call Real
Estate
Subjective No
Sanction
Needed
by
Matthew Russell Lee, Patreon Book
Substack
NYS COURTHOUSE,
Sept 22 – In the run up the
Trump trial in the NYS AG
James cases about
overvaluation, Inner City
Press went and live tweeted
Judge Engoran's September 22
pre-trial conference on, among
other things, materiality and
(possible) sanctions. Thread:
OK - now at Trump
Org hearing before NYS Judge
Engoran. Courtroom gallery
full, court artist in jury
box, "SOFC Valuation Impact,
Donald J. Trump" sliding on 2
screens.
All rise! Judge
Engoran: Let's not get wrapped
up in materiality.
Trump Org lawyer:
Consider the Domino's Pizza
case...
Judge Engoran:
Domino's Pizza is not binding
on me.
Trump Org lawyer:
These sophisticated banks were
not fooled. The SOFC
disclaimers were unequivocal.
And so under GAAP, it's not
material. Trump Org
lawyer: We have an NYU Stern
professor...
Judge Engoran:
Let's consider Mazers,
Maysers, whatever you call it.
Are you saying, they just had
to rely on Trump?
Trump Org lawyer:
They put Deutsche Bank on
notice. And a bank like that
does due diligence Judge
Engoran: We all know that.
Give me a minute. [Law clerk
whispers to him, then blocks
view with legal pad, like a
pitching coach during a mound
visit. #LipReaders
Trump Org lawyer:
Here are valuations of these
trophy properties. Forget
Domino's Pizza, I know you
don't like it - how about
Temper-Pedic? It's like people
saying the Jets or Bills are
the best team, it's just
opinion-
Judge Engoran:
Why not the Miami
Dolphins? Trump Org
lawyer: President Trump bought
Mar-a-Lago for $8 million, now
it's worth billions. Judge
Engoran (banging on his table)
You. Cannot. Make. False.
Statements. In. Business!
That's what the statute is
about! [Looks out at courtroom
gallery]
Trump Org lawyer:
They did not make false
statements, Donald Trump, Don
Junior, Eric Trump. Judge's
law clerk (?) Weren't the
Revocable Trust documents
certified to? Trump Org Lawyer
2: Neither Eric nor Don Jr.
NYS AG's lawyer:
I'm sure Your Honor is going
to be generous with us...
These documents were used to
get loans... Consider the
Wabash loan in
Chicago..
AG lawyer:
Mar-a-Lago is not being used
as a private residence. It is
being used as a social club,
with an onerous restriction on
its deed. The undervaluing of
Doral doesn't make up for
it.
NYS AG lawyer:
Trump inflated the income from
40 Wall Street, and here's a
quote from a Deutsche
Banker... Donald Trump Jr was
a trustee...Their values are
inflated. Thank you.
Judge Engoran is
back after break, says this
csn go until
4:45... NYS
AG lawyer: We are compelled to
seek sanctions. Trump Org
lawyer 2: We have been
appropriate under the CPLR...
They are trying to sanction us
for something the First
Department ultimately reversed
on. We have a respected
retired judge's
affirmation...
Trump Org lawyer
2: If you have any
questions... Judge Engoran: I
have more comments than
questions. You can't put in an
expert affidavit about the
law. I'm the expert. I thought
these arguments were a joke.
Of course the AG can sue under
this statute Trump Org
lawyer: These were private
transactions, we don't believe
there's been any public harm.
Judge Engoran: I
said, these arguments were
frivolous the first time. Now
you have retired judge Leonard
Austin telling me something
has changed. Say hello for
me... Trump Org
lawyer 1: I know you dont like
Domino's--
Judge Engoran:
The pizza's OK, the case, not
so much. Trump Org lawyer 1:
As we go into trial, this
sanctions business is not the
best way to go in. Let's keep
the temperature down
Judge Engoran:
This is about fairness in the
marketplace, we in New York
want to keep thing fair. Maybe
someone will be hurt next
time.
Inner City Press
remains on the case.
***
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