Letitia James’ Fraud Charges Against Trump Are Bogus

BizPac Review

Last week, a New York judge allowed a summary judgment effectively saying that Donald Trump, his family, and his organization are guilty of fraudulent business practices. Not only is that conclusion bogus, but it is the second time that Trump’s organization has been found guilty of fraud for doing what everybody else does.

In the most recent case, the judge said Trump inflated the value of his properties to obtain more favorable loan terms, even though for each loan, Trump was satisfied with the terms and the lender was satisfied with the terms. All loans were repaid and there were no defaults, meaning the lender was not harmed.

That didn’t stop New York City District Attorney Letitia James. James campaigned for her office promising to get Trump on something, anything, so she claimed that the public must have been hurt by Trump’s actions. That is bizarre.

When a borrower requests a loan from a bank that is collateralized by real property, the current market value of the property must be determined. That’s because the amount of the loan and the interest rate charged are determined, at least partially, by the property’s value.

Trump gave his appraisal of a property. Typically, Trump would hire a licensed appraiser who determines the current market value. The bank also does an appraisal. Then the sides come to an agreement on the value. If the value is high, then the loan amount can increase. Also, the loan-to-value ratio would be lower for a high-valued property, so the bank would charge a more favorable interest rate.

Trump and the bank came to an agreement and the loan was settled.

This happens every day in business and happens even with the average homeowner.

For instance, suppose someone bought a house a few years ago for $300,000. They are now seeking a home equity loan. The amount of the loan and the interest rate charged are based somewhat on the home’s current value.

“Well,” the homeowner may say, “My neighbor just sold a house like mine for $350,000. I have a much nicer kitchen, a slightly larger backyard and I just repainted. So, my house must be worth $400,000.”

He convinces the bank that the assessment is accurate, so the bank bases the loan terms on that amount. It turns out that an objective assessment may say the house’s current value is really $350,000, just like the neighbor. But, as long as the loan is repaid on time, there is no problem, unless your name is Donald Trump. In that case, the DA may say the homeowner defrauded the bank. That’s essentially what happened in the most recent Trump conviction.

Even worse, the Trump Organization was found guilty of criminal tax fraud last year. That case involved the benefit payments to key employees.

The court found that Trump paid benefits to those employees for the sole purpose of evading taxes. Trump paid for the housing expenses, automobile expenses and even paid to send the employees’ children to private schools in NYC. Why did Trump do this?

Let’s say, he recruited someone to be Executive Vice President of Finance. The recruit said they were willing to take the job and the salary offered was acceptable. But, living expenses in NYC are extremely high.

And it is very expensive to have a car in the city. Plus, since the NYC public schools were not of the standard the recruit was accustomed to, their children would have to attend private schools which are very expensive.

Trump replied that he will add to the benefit package a housing expense, car expense and tuition for your children. The Trump Organization will pay these expenses directly rather than increase the salary to avoid the employee having to pay higher taxes.

This is not illegal and indeed almost every worker has their health insurance fully or at least partially paid, by their employer to avoid paying income taxes on that benefit. That’s not fraud. Or if it is, we are all guilty.

A university recently hired a new president. Included in the benefits package was that the president can live rent-free in the university-owned president’s house. The university gave the president a car and even included a driver. And if the president’s children wish to attend the university, they can do so tuition-free.

Is the University guilty of tax fraud?

They would be only if their name was Donald Trump.

Another viewpoint:

 

 

Meanwhile, Letitia failed to disclose a six figure dark money loan she got from anti-Trump media operatives:

Letitia James, the Democrat-hack New York attorney general, likes to bloviate about “nobody being above the law.” Of course, she says this about former President Donald Trump.

When it comes to herself, however, that is a different story. Previously hidden documents show that James may have a money problem—a dark money problem. And Laura Loomer brought the receipts to her piece on Substack.

Think about it. Like other politicians among both parties, including the current occupant of the White House, James has managed to pad her bank account while working most of her life in the public sector, which isn’t intended to be a path to great wealth.

That hasn’t stopped lawmakers such as Nancy Pelosi (D-Calif.), Maxine Waters (D-Calif.), and many others from accumulating tremendous wealth.

Somehow, living on a public servant’s salary, James could afford a sweet four-story brownstone in the borough of Brooklyn, which she purchased in 2001, now believed to be worth several million dollars.

Over the years, James has had several, shall we say, illegal renovations done to her 296 Lafayette Ave. home. In 2007, she was cited for a “hazardous” violation by the NYC building department for improper scaffolding installation around her home, nor did the scaffold workers possess proper identification. Probably those illegal “migrants” James is constantly wailing about protecting.

In 2011, despite owning a home worth seven figures, James negotiated a deal to lower her monthly mortgage by crying poverty and applying for a Home Affordable Mortgage Modification Agreement.

In the affidavit, among other claims, James said she was “experiencing a financial hardship, and as a result, (i) I am in default under the Loan Documents, and (ii) I do not have sufficient income or access to sufficient liquid assets to make the monthly mortgage payments now or in the future.”

In 2017, James, then a candidate for New York Attorney General, who campaigned on a promise to “get Trump,” remodified her several mortgages into one loan for $625,000. However, a mysterious affidavit was attached with a note from an attorney for Wells Fargo Bank, Willard F. Miller.

That note referenced an additional loan issued previously in the amount of $770,000 on May 21, 2016, by Christopher J. French and Kristen French. The affidavit was attached and recorded with her latest mortgage consolidation filed in Nassau County, New York.

Loomer noted that there doesn’t appear to be any financial connection with Christopher or Kristen French anywhere in the United States, leading one to believe these names were an alias to hide the appearance of so-called dark money in Letitia James’ bank accounts.

Upon conducting research, were there any financial or professional ties between James and individuals in New York bearing the surname French who were connected to the Democratic Party in New York?

One possibility is a man named Christian J. French, the COO of WRNN, a regional news network that serves New York City. He is a long-time hater of former President Trump. U.S. partners of WRNN include Al Jazeera English.

Moreover, Christian French’s brother hosts a far-left talk show, “Richard French Live.” At the same time, Christian is allegedly a board member of several leftist organizations that do business in New York City and New York State.

Christian French’s LinkedIn profile shows he is president of the board of directors for Hudson Link. On its website, that organization calls itself a “progressive” organization that:

“…provides college education, life skills, and reentry support to currently and formerly incarcerated people so they can make a positive impact on their own lives, their families, and communities, resulting in lower rates of recidivism and higher rates of employment, community regenerations, cohesiveness, and reciprocity.”

In a likely connection to James, one of Hudson Link’s Board of Directors members is Annette Johnson, who at one time served as the Assistant Attorney General in the New York State Attorney General’s Office, where Letitia James now serves.

Another connection involves another board member for Hudson Links, Mayo Bartlett, the principal attorney at the Law Offices of Mayo Bartlett, PLLC. He regularly appeared on “Richard French Live” on WRNN as a legal panel member.

On June 15, 2022, May appeared on a legal panel with James while he displayed a banner boasting of his appearance on the panel with her prominently on his firm’s website.

Richard French, on the RNN-TV website, brags about his ties to former President Barack Obama:

“The Emmy Award-winning program is a forum that counts politicians, pundits, and personalities as contributors ranging from President Obama to the biggest newsmakers from the national to regional level. A multiple Emmy and state broadcaster awardee, Richard came to broadcasting from the world of politics.”

He is also an avid Trump hater, with most episodes on his YouTube channel featuring anti-Trump content.

The $770,000 loan that James has been burying and hiding on her financial disclosures is nowhere to be found in the 34-page 11/3/2017 mortgage agreement recorded with the Office of the Register in New York City’s Department of Finance. Nor did she mention the $770,000 loan on financial disclosure forms filed with the state election commission during her campaign for NYS Attorney General.

“Nobody is above the law.” Except for Letitia James, that is. Failure to disclose the loan on financial disclosures is illegal. What exactly is James trying to hide? For someone who likes to bloviate about Donald Trump’s alleged “crimes,” she has her own questionable financial hijinks to answer for.

Loomer has the receipts and published a copy of James’s 2022 financial disclosure statement, which only addressed the $625,000 mortgage from Wells Fargo, not mentioning the origins of the $770,000 loan from French. It also addressed loans from Citizens Bank, First Savings Bank, and Citibank, all worth a minimum of $100,000 each.

From Loomer’s Substack article:

Unauthorized restoration to her now multi-million dollar residence.

She managed to negotiate substantial savings for her monthly mortgage obligations, with a Home Affordable Mortgage Modification Agreement. Letitia cried poverty and beat the system.

 

 

 

Oh, and Letitia also covered up a sex harassment complaint against her top aide, Ibrahim Khan.

She routinely described Trump, a duly elected president of the United States as “illegitimate.”

Looks like Letitia should be brought up on charges.

 

Related articles:

https://nypost.com/2019/01/04/tish-james-anti-trump-crusade-lets-corrupt-ny-pols-off-the-hook/

https://www.city-journal.org/article/attorney-general-as-threat-to-the-rule-of-law

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