still waiting for you to prove Trump defrauded anyone specifically the banks that lent the money and got paid back in full
Originally Posted by The_Waco_Kid
Well I went and looked up the statute that was used to investigate and prosecute Trump and his businesses.
https://casetext.com/statute/consoli...general-duties
The law was written and passed in 1956. The text of the law gives the attorney general sweeping powers to investigate and prosecute crimes against fraudulent activities. The power to shut down businesses committing said fraud. The power to fine people and businesses that committed fraud for restitution.
I would think that the legislature that passed the law was cognizant of its purpose and powers. They had the opportunity to repeal or modify the law for almost seventy years and failed to do so.
New York is a hub of international business and politics. I would think that they wanted the power to police fraudulent activities and individuals who chose to do business in their community. So that they could assure the community that law trumps fraud. That everyone plays on an even field.
Whether you think that the prosecution is politically motivated is irrelevant. Whether you think the fine is egregious is irrelevant. Whether you think that appointing a monitor for the business is irrelevant. The fact is that he was found guilty and now has to pay the piper.
In truth by fraudulently obtaining those loans he presumably pushed out other competing companies that may have been trying to get funding. Companies that presumably didn’t fraudulently inflate their assets.
I think that the Attorney General is sending a message to every one who chooses to do business in new york that overvaluing their assets is suspect and doing so fraudulently is no longer acceptable. That everyone should take a good look at their business practices to verify that they comply with the law.