Trump had ‘no defenses’: Ex-Trump White House lawyer Ty Cobb on latest ruling

Former Trump attorney Michael Cohen reacts to a New York judge finding that Donald Trump and his adult sons are liable for fraud. In a recent New York City court ruling, Donald Trump faced allegations of real estate fraud related to the valuation of his properties. While the judge did not pursue criminal charges, he imposed substantial fines, revoked Trump's business licenses, and mandated the appointment of a court-ordered controller to oversee and liquidate the Trump organization's assets in New York. Trump vehemently denied the accusations, claiming bias on the part of the judge, even though the judge cited Trump's own documents as evidence.
The crux of the matter centered on Trump's ability to declare property values for loans and insurance purposes without external appraisal or verification, a practice that raised eyebrows given typical commercial and real estate lending standards. The judge notably pointed out the undervaluation of Mar-a-Lago, which was assessed at $18 million, though comparable properties in the area commanded figures in the billions, albeit with unique considerations for Mar-a-Lago's lack of divisibility and development constraints.

Trump countered by asserting that the loans in question were not delinquent and were either paid off or in the process of being paid. He raised questions about the motivations behind the lawsuit, ranging from political bias to concerns over his financial success and party affiliation.

This ongoing legal saga has generated widespread interest and debate, prompting discussions about Trump's financial practices, the role of external audits in property valuation, and the broader implications of the case, including its political dimensions.

Keywords in this video: New York City, Judge, Lawsuit, Donald Trump, Real estate fraud, Criminal charges, Fined, Business licenses, Controller, Liquidate, Trump organization, Former president, Fraud denial, Democrat judge, Evidence, Banks, Property valuation, Loans, Insurance coverage, Red flag, Commercial loans, Real estate loans, Financials, Third-party auditor, Appraise, Value, Valuation, Comps, Risk, Donald Trump's word, Truth social, Negative articles, Mar-a-Lago, Resort, Oceanfront property, Raw land, Loans paid back, Bankruptcies, Self-declared property values, Double checking, Appraisals, Developing story, Guilty, New York residents, Democrat to Republican, Election interference, Justice, National scale, Financial wrongdoing, Legal proceedings, Real estate market, Property appraisal, Loan applications, Financial discrepancies, Legal implications, Property values, Court ruling, Real estate industry, Asset valuation, Legal consequences.