The judge, however, lifted a ban on Trump’s ability to obtain loans from a New York bank, which could allow him to obtain the necessary funds
The judge, however, lifted a ban on Trump’s ability to obtain loans from a New York bank, which could allow him to obtain the necessary funds
I don’t understand why he would be allowed to borrow money for this purpose. Seems to me that would be an opportunity to commit more fraud by using properties at inflated values as collateral.
I am sure there’s a Russian bank out there that will give him amazing terms on a “loan”.
Would love for that to happen, then US seizes the Russian funds. Would be hilarious.
Realistically, selling something like Trump Tower isn’t the same as getting cash for a car.
Hopefully, every bank is on to his scams at this point and would require 3rd party appraisals.
I would be more concerned that he would use it to launder money. For example, he can’t use campaign money to pay his civil judgment, but his campaign could “rent” some space and other services from Trump corp for exorbitant amounts to raise the funds to pay the loan. He has been using the scam to launder Russia mob money since the 80s.
Got to be honest, I don’t think it was an issue of banks not knowing about the scam.
I wouldn’t be surprised if some of these “loans” weren’t partially secured with foreign checkbooks.
Well, the feds fucking love letting someone commit additional crimes while they watch
I bet it’s more of a non-issue in that no bank is going to lend anymore.
I can see why no bank would lend him money, especially with the risk of his properties being seized. But this guy keeps getting away with it. I won’t believe it until I see it.
Any bank lending to Trump is at high risk of losing money. He could’ve gotten a loan from any bank in any other state, right? How is having access to a bank in NY going to change anything?
Probably because they would accept Trump Tower and other NY assets as collateral. But any bank that actually did and tried to sieze them after he defaults would likely face years of lawsuits. Caveat emptor and all that.
Isn’t there a special master monitoring his finances? If so, I’m fine with giving him more rope
I think so. I’m not sure what the special master does.