From the New York Post, an op-ed written by the Post Editorial Board: Forbes just estimated the value of Mar-a-Lago at about $560 million, again exposing the fakery in New York state Attorney General Tish James’ 2023 civil fraud persecution of President Trump.
James argued that Trump had wildly inflated the value of the resort and other properties to get better loan terms from Deutsche Bank.
Democratic hack Judge Arthur Engoron agreed, calling Trump’s half-billion-dollar estimate for the Palm Beach palace “an overvaluation of at least 2,300%, compared to the assessor’s appraisal.”
Bogus assumption No. 1 was that tax assessments reflect real market value; No. 2, that a sophisticated global powerhouse like Deutsche Bank would ever take a borrower’s word for what his assets are worth.
As National Review’s Andrew McCarthy notes, Forbes’ new list of billionaires bumped Trump into the ranks of the 1,000 richest people in the world, partly based on valuing the president’s Xanadu in the ballpark of Trump’s “original fraudulent” estimate.
In September 2022, James had filed a lawsuit against Trump, accusing him of committing “years of financial fraud.”
She claimed that Trump’s Mar-a-Lago estate “should have been valued at closer to $75 million” instead of the $739 million value he had placed on the property.
Last year, an appeals court threw out a nearly $400 million fine that Engoron had hit Trump with, saying the judgement was “excessive” and a violation of the Eighth Amendment.
READ MORE from the New York Post.
Follow us on X (Formerly Twitter.)
The DML News App: www.X.com/DMLNewsApp
The Dennis Michael Lynch Podcast archive is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
