Comments by "Matthew Loutner" (@Matthew_Loutner) on "Trump and his company "repeatedly" violated fraud law, judge rules" video.
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@amg5656 Well I am not specifically familiar with the laws of New York. But I do know that New York is a very strange place. So it is possible that they have some odd, unusual, and non-standard laws.
However . . .
In the NORMAL WORLD the definition of fraud is that you defraud someone out of their MONEY. In the NORMAL WORLD he did not commit fraud and I am sticking by the NORMAL DEFiNITION of the word fraud and he did not commit fraud.
Also, no property has a specific value or price tag on it. If I say my house is worth $52,000 and I can talk someone into buying it for $52,000 then it is worth $52,000. Houses rarely sell for the listing price and price of anything is negotiable. There is no specific value of anything and it is very common for a homeowner to start by listing the house at a price that is higher than they actually believe the house is worth, hoping to get the most that they can get. Is that practice illegal in New York???
The value of the house is finalized on title day when the buyer and seller meet at the title office, sign the papers, the money changes hands and the sale is made. That establishes the value of the house. Up until that moment, the house has no specific value and no one really knows what the house is actually worth. AFTER THE SALE, the sale price is used as a "comp" in order to GUESS what other houses in the area might sell for.
A house is worth what someone will pay for it. Even 2 state certified appraisors will come up with different values for a house (and the day that I sell it for more, they are both proven wrong). It would be problematic to say that someone misrepresented the value of their property when no property has an actual value. New York cannot have a law against value misrepresentation based upon VARYING OPINIONS of what something is worth. And if they do have a law like that, the validity of that law itself should be challenged.
I do not believe that having a high opinion of yourself and your property is a crime. Everyone knows that President Trump has a high value of his own worth and that is not a crime or fraud.
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