BY: MARK HEMINGWAY – MARCH 26, 2024 – The Federalist
My cmnt: This clownish, corrupt, democrat judge claims, with no expertise in real estate at all, that President Trump’s Mar-a-Lago prime, ocean-front 28 acre estate is worth $18 million is laughable. Neighboring estates of much smaller and less developed status are easily selling for $100 million. Trump’s estate is much closer to $800 million to $1 billion, depending on who may want to buy it.
It’s pretty clear at this point that Democrats’ main election strategy against Donald Trump has nothing to do with Joe Biden running a savvy political campaign. Instead, they’re attempting to defeat Trump with a series of obviously politically coordinated lawsuits and criminal charges, hoping this will both drain Trump’s resources and any resulting convictions would tarnish him in the eyes of voters. Suffice it to say, this strategy is not working out well for them — Biden hasn’t led in the polls in six months.
And while there’s a lot to be said about the dubious nature of the charges being brought against him, the point has been driven home by the recent decision by a New York appeals court to reduce Trump’s bond in his civil fraud trial from $454 million to $175 million. Or rather, the issue is what no one is saying about this case: It’s such complete bunk that no one among the legion of Trump’s critics in and out of the corporate media is even trying to defend this case on the merits.
To recap: Trump took out loans over several years, as real estate moguls are wont to do. For him to get approved for those loans, the banks did their own due diligence about Trump’s finances and ability to pay back the loans and decided to give them to him. Trump paid back the loans, and everyone made money.
However, the state of New York, where the current Attorney General Letitia James campaigned for office on the insane premise of convicting Trump without even saying what he was guilty of, combed through the paperwork of these loans and charged Trump with fraudulently inflating the value of his assets to get favorable loan terms. They did this in spite of the fact that no bank has accused Trump of wrongdoing.
The case was decided by a judge who is personally bizarre and professionally incompetent and adversarial. In a case where Trump was accused of inflating the value of his assets, in Judge Engoron’s ruling he concluded that Mar-a-Lago, Trump’s historic estate on 17 oceanfront acres in the heart of the most exclusive neighborhood in America, was worth between “$18 million and $27.6 million.” Even CNN was incredulous about Engoron’s low valuation of Trump’s assets: “Real estate insiders question how Trump fraud judge valued Mar-a-Lago.” For those who believe that Trump inflated the value of his assets to get a loan — this would not exactly make him a unique figure in the business world — Engoron’s judgment is still unreliable.
The ruling against Trump is, in the words of former federal prosecutor Andy McCarthy, “a fraud case in which there are no fraud victims.” McCarthy’s National Review colleague Dan McLaughlin, who has decades of experience litigating business fraud in New York, notes, “The idea that Trump caused half a billion in damages to his lenders doesn’t pass the straight face test. A tenuous-at-best theory of illegality should not be a springboard for draconian punishment.” (It should also be noted that though McCarthy and McLaughlin are on the right, neither man has much affinity for Trump.)
This case is so obviously politically motivated, and even America’s corrupt media are at a loss to defend this: “An Associated Press analysis of nearly 70 years of similar cases showed Trump’s case stands apart: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses.”
Readers’ comments:
One slight revision to the last sentence might be in order. Consider the last portion of the sentence: “an establishment that will eagerly distort the law to subvert an election they’re afraid they can’t win on the merits.” Instead of “they’re afraid,” perhaps substituting “they know” is a bit more on target. Many thanks to the author for this straightforward commentary.
Gerard L.
I don’t know Mr. Hemingway, the Wall Street Journal headlines in today’s print edition read, “Court Lets Trump Post Smaller Bond” with the continuation of the article on page 4 stating “Trump Gets A Break On Bond.” It took the WSJ news reporters approximately nine or so paragraphs to report, “By lowering the bond amount, the appealate court may be signaling some concern with the size of the judgment of the lower court….”
It almost sounds if the WSJ news editors and reporters were distressed by the Engoron judgment not being upheld.
The Fourth Estate members that an American would think would be disgusted by Engoron’s attempt to violate an American’s property rights by removing an opportunity to appeal his decision by levying an obscenely high bond figure would have a tilt supportive of Engoron’s attack on an individual’s 8th Amendment rights.
As you have written Mr. Hemingway,, “In the end, what’s really telling is that while the “country over party” crowd won’t defend this decision on the merits, they’re also not speaking out about the perversion of justice here. They’re content to let it happen to Trump even if it erodes the very norms and concerns about “rule of law” they insist Trump threatens as president.”
The WSJ news editors/reporters seemingly may be part of the “…not speaking out about the perversion of justice…” or speaking with a very,very tiny whisper.
The nation’s Fourth Estate is no longer dependable in protecting the rights of all Americans.
[Engoron] concluded that Mar-a-Lago, Trump’s historic estate on oceanfront acres in the heart of the most exclusive neighborhood in America, was worth between “$18 million and $27.6 million.”
What a dolt. Real estate in Palm Beach of this kind would easily sell for $50-$100m, depending on the building square footage and land acreage. It might be more as I admit I didn’t look up Mar-a-Lago‘s stats.
Reply to Katherine H.
In Naples, FL – ocean front properties are regularly listed at $21 million plus. The most “affordable” neighborhoods start at $1.1 million according to RealEstate.com. Keep in mind these single home properties are on the water, without a golf course or opulent club house amenities. Engerkoff is a clown of a judge and should be disbarred.
Too much credit for even the Thieves mentioned. They may be looking out for their money backers – those who keep them in office and not just democrats; repubicans who hate Trump too; the silent beggers who are viewers of the actions that they should be protecting America from.The Senators and Representatives. To me,this story is more about all of the criminal actions by the democrats which would be used against them by Republicans’ inaction. However Republicans might as well be considered as co-conspriators as silent as they are. Comer [who is stuck on stupid[ while working ion the crime family while Americans are in the DC jail and others are being prosecuted for their speech and religion. Allowing the crime family to be a self imposed distraction.
Comer and Jordan only speak tough and then they issue an invitation or a stern l etter and when that is scoffed at they issue more words. That is not fight back; that is covering for it all.Look out; they are talking issuing a referral to the Biden team at DOJ.Democrats put Republicans in jail – Duncan Hunter & Tom Delay. Republicans vote their own out of office.
Last edited 2 hours ago by Norm K.
“. . .Trump, for all his considerable flaws, is less of a threat than an establishment that will eagerly distort the law to subvert an election they’re afraid they can’t win on the merits.”
This is the danger.
Lord Buckbeak: "Will you come into my parlor?," said the Spider to the Fly. 
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