{"id":2047270,"date":"2023-09-27T21:25:04","date_gmt":"2023-09-28T01:25:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/eric-trump-says-new-york-judge-undervalued-mar-a-lago-in-fraud-ruling\/"},"modified":"2023-09-27T21:28:34","modified_gmt":"2023-09-28T01:28:34","slug":"eric-trump-says-new-york-judge-undervalued-mar-a-lago-in-fraud-ruling","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/eric-trump-says-new-york-judge-undervalued-mar-a-lago-in-fraud-ruling\/","title":{"rendered":"Eric Trump claims New York judge undervalued Mar-a-Lago in fraud ruling."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feric-trump-says-new-york-judge-undervalued-mar-a-lago-in-fraud-ruling%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2047270&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>Eric Trump\u200b Claims Undervaluation of \u200dMar-a-Lago\u2062 in \u200dFraud Case<\/h2>\n<p>According to Eric Trump, a New York judge has severely undervalued Mar-a-Lago by \u2063approximately $1 billion in a recent ruling that held him and\u200c his father accountable for \u2063fraud. The \u200druling, issued by Judge Arthur Engoron on Sept. 26, found former President\u2062 Donald Trump and his Trump Organization liable for fraud in a \u200ccivil suit brought by New York Attorney General Letitia James. The suit also names Eric Trump and Donald Trump Jr. as defendants.<\/p>\n<div class=\"my-5\">\n<p>Letitia\u2062 James\u200c is seeking penalties of $250 \u200cmillion and the removal of\u200d the three \u2062defendants from their positions in the company, as well\u200b as a ban on holding \u2063executive posts in New \u2063York State. Within 10 days, they must\u2062 recommend three independent reviewers to manage the dissolution of the Trump Organization\u200d and \u2064its \u2063related holdings. A non-jury trial is scheduled to begin on Oct.\u2064 2.<\/p>\n<\/p><\/div>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\" id=\"in_article_related_stories\">\n<h2 class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/h2>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/us\/trump-says-hed-testify-under-oath-that-key-evidence-in-<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-times-maggie-haberman-attacks-president-trump-over-white-house-reporters-having-to-work-early-on-christmas-eve\/\" title=\"NY Times\u2019 Maggie Haberman Attacks President Trump Over White House Reporters Having to Work Early on Christmas Eve\">mar-a-lago<\/a>-case-is-false-5492189?<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jacob-siegel-on-disinformation-the-hoax-of-the-century-part-1\/\" title=\"Jacob Siegel discusses disinformation and refers to it as the 'Hoax of the Century' in Part 1.\">ea_src=author_manual&#038;ea_med=related_stories<\/a>&#8220;><\/p>\n<h3>Trump Says He&#8217;d Testify Under \u2062Oath That Key Evidence in Mar-a-Lago Case Is &#8216;False&#8217;<\/h3>\n<p>            <\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">9\/15\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/us\/trump-says-hed-testify-under-oath-that-key-evidence-in-mar-a-lago-case-is-false-5492189?ea_src=author_manual&#038;ea_med=related_stories\"><\/a>\n        <\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/us\/trump-sons-respond-after-real-estate-<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unprecedented-demand-for-trump-mugshot-merch-retailer\/\" title=\"Retailer reports soaring demand for Trump mugshot merchandise.\">website-lists-mar-a-lago-<\/a>as-sold-5480852?ea_src=author_manual&#038;ea_med=related_stories&#8221;><\/p>\n<h3>Trump Sons Respond After Real Estate Website Lists \u200cMar-a-Lago as Sold<\/h3>\n<p>            <\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/25\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/us\/trump-sons-respond-after-real-estate-website-lists-mar-a-lago-as-sold-5480852?ea_src=author_manual&#038;ea_med=related_stories\"><\/a>\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"my-5\">\n<p>&#8220;In an attempt to destroy my\u2063 father and kick him out of New York, a Judge just ruled that Mar-a-Lago, in \u2064Palm Beach Florida, is only worth approximate[ly] &#8216;$18 Million \u200cdollars,'&#8221; wrote Eric Trump,\u200d executive vice president of Trump \u200bOrganization, on X (formerly\u200d Twitter). &#8220;Mar-a-Lago is speculated to be worth we\u2019ll [sic] over \u200ca billion dollars making\u2062 it arguably the most valuable \u2062residential property in the country. It is all so corrupt and coordinated.&#8221;<\/p>\n<h2>&#8216;Collateral Damage&#8217;<\/h2>\n<p>Eric Trump expressed in another social media post that he feels like &#8220;collateral damage&#8221; in the political attacks against his father, who is leading the\u200d Republican \u200ccandidates by a \u2064wide margin in polls and campaigning for\u2063 the presidency in 2024.<\/p>\n<\/p><\/div>\n<div class=\"my-5\">\n<p>&#8220;While everyone can see that \u200cthis\u200b case is egregious, the only thing worse\u200c than weaponizing the legal system against\u2064 a political opponent\u2063 is unfairly going after \u2063their family,&#8221; he wrote.<\/p>\n<p>&#8220;Both the Attorney General and the Judge know I had absolutely \u200bNOTHING to do with this case. Every single person \u200chas testified that my job\u2062 has \u2062always been acquiring, developing, and managing properties, not back \u200coffice functions. The only reason I am collateral damage is because my last\u200d name is Trump and I am unwavering in the support \u2064of my father,\u200b his accomplishments, \u2063and what he has\u200d done for our country, a nation \u200bwhich\u200d is now\u2064 rapidly in decline.&#8221;<\/p>\n<p>He added that\u2063 he was disillusioned by the justice system.<\/p>\n<\/p><\/div>\n<div class=\"my-5\">\n<p>&#8220;Today, I lost all\u2064 faith in the \u2062New York legal system,&#8221; he said. &#8220;Never\u200b before have I seen such hatred\u200d toward one person by a judge\u200d &#8211; a\u2062 coordinated effort with the Attorney\u200d General to destroy a man\u2019s life, company, and accomplishments.&#8221;<\/p>\n<p>&#8220;We have run an exceptional company\u2062 &#8211; never missing a loan payment, making banks hundreds of millions of dollars, developing\u200c some of the\u2062 most iconic assets in the world. Yet today, the\u2063 persecution of our family \u2062continues,&#8221; he wrote.<\/p>\n<h2>Mar-a-Lago<\/h2>\n<p>&#8220;The real estate circles in Florida are laughing at this foolishness,&#8221; Eric Trump wrote, sharing real estate listings from the area.<\/p>\n<\/p><\/div>\n<p>Homes ranging from 5,000 to 11,500 square feet and located\u200b further from the beach than Mar-a-Lago were listed at prices near $40 million. Mar-a-Lago, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/eric-trump-says-new-york-judge-undervalued-mar-a-lago-in-fraud-ruling\/\" title=\"Eric Trump claims New York judge undervalued Mar-a-Lago in fraud ruling.\">waterfront-facing resort-turned-club spanning 62<\/a>,000 square\u200d feet, boasts a spa and other luxurious amenities. President Trump acquired the property in 1985 during a market slump.<\/p>\n<p>The 20-acre plot was originally developed by heiress Marjorie\u2064 Merriweather Post\u2064 and architects Marion Sims Wyeth and\u200c Joseph\u200c Urban. Completed in 1927, the property was\u2062 willed to the government by Ms.\u2063 Post, who \u2064was then the richest woman in America, \u200bto be used as a warm-weather retreat for\u200b the \u2062President.<\/p>\n<p>However, the\u2063 cost of maintenance reached $1\u2063 million \u2063annually, leading the government to return the building to the Post Foundation in 1981.<\/p>\n<p>President \u200bTrump has often referred to Mar-a-Lago as his &#8220;winter White House,&#8221; which\u200c aligns with Ms. Post&#8217;s original vision.<\/p>\n<div class=\"post-figure\">\n<figure style=\"width:600px\" class=\"aligncenter\"><figcaption>An aerial view of Mar-a-Lago, the Florida home of former President Donald Trump, on Aug. 15, 2022. (Marco Bello\/Reuters)<\/figcaption><\/figure>\n<\/p><\/div>\n<div class=\"my-5\">\n<h2>Fraud Case<\/h2>\n<p>Letitia James filed a \u200bmotion seeking a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-issues-lengthy-statement-after-new-york-fraud-ruling\/\" title=\"Trump responds to New York fraud ruling with a lengthy statement.\">pre-trial summary judgment<\/a> \u2064from the court, alleging that President Trump had overvalued his properties by up to $2.2 billion.<\/p>\n<\/p><\/div>\n<p>This \u2064claim is one of \u200cseven in James&#8217;s petition, and the judge is expected to rule on the remaining six.<\/p>\n<p>James\u200c contends that from 2011 to 2021, President Trump, Eric Trump, and Donald\u200b Trump Jr. engaged in &#8220;numerous acts of fraud and misrepresentation&#8221; \u2063in their financial documents, leading insurers and \u200dlenders to\u200c offer lower prices. James has interviewed 65 witnesses,\u2063 including President \u200bTrump himself.<\/p>\n<p>In April, President Trump was deposed for seven hours, and his attorneys released the 479-page transcript of\u200d his testimony in a motion opposing James&#8217;s request for a summary judgment without\u200d trial.<\/p>\n<p>Judge Engoron ruled on Tuesday that \u200cJames had provided sufficient evidence of liability\u200c for false valuations of several properties, including Mar-a-Lago,\u2063 and that President Trump&#8217;s testimony contained comments that were &#8220;wholly without basis in law or\u200c fact.&#8221;<\/p>\n<div class=\"my-5\">\n<p>President Trump has vehemently denied any wrongdoing and \u2062issued a lengthy statement denouncing the judge&#8217;s decision.<\/p>\n<\/p><\/div>\n<\/blockquote>\n<p> <\/p>\n<h2> What\u200d penalties\u2062 is\u200c Letitia James seeking in the fraud case against the Trump Organization?<\/h2>\n<p><span>  Website-lists-mar-a-lago-as-sold-5480852?ea_src=author_manual&#038;ea_med=related_stories&#8221;><\/a><\/p><\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n<p>            <a href=\"http:\/\/www.theepochtimes.com\/us\/prosecutors-say-trump-organization-executives-destroyed-mar-a-lago-documents-5475775?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Prosecutors\u200b Say Trump \u200bOrganization\u200d Executives Destroyed \u2064Mar-a-Lago Documents<\/h3>\n<p>            <\/a><\/p><\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/15\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n<p>          <a href=\"http:\/\/www.theepochtimes.com\/us\/prosecutors-say-trump-organization-executives-destroyed-mar-a-lago-documents-5475775?ea_src=author_manual&#038;ea_med=related_stories\"><\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Eric Trump,\u2063 the son \u2062of former President Donald Trump, has made a claim that Mar-a-Lago, the\u200d family&#8217;s private \u200bclub in Palm Beach, Florida,\u200c has been undervalued\u200d in a recent \u200bfraud case. According to Eric, a New York judge has \u200dseverely underestimated the value \u200cof Mar-a-Lago by approximately\u200c $1 billion.<\/p>\n<p>The ruling,\u200c issued\u2063 by Judge \u2064Arthur Engoron on September 26, found Donald Trump and the Trump\u2062 Organization liable for fraud in a\u200d civil suit brought by New York Attorney General Letitia James. Eric Trump and Donald Trump Jr. are\u2062 also\u2062 named as\u2064 defendants\u200d in the case.<\/p>\n<p>Letitia James is seeking penalties\u2064 of $250 million and the removal of the three defendants\u200b from their \u200bpositions in the company, \u2062as well as a ban on holding executive posts in New York State. Within 10\u200c days, they must recommend three independent\u200b reviewers to manage the dissolution\u200b of the\u200c Trump Organization and its related holdings. A \u2063non-jury trial is scheduled\u200d to begin\u200d on October 2.<\/p>\n<p>This latest development comes as Eric Trump claims that the\u200d valuation of Mar-a-Lago in the fraud case is\u2064 inaccurate. He argues that the property,\u2064 which is known for its luxury\u2064 and exclusivity, is worth much more than \u200bwhat\u2064 the judge has determined.<\/p>\n<p>Mar-a-Lago has long \u2064been a source of controversy and\u200b criticism for \u2063the \u2062Trump \u2063family. The club \u200bhas\u2063 faced scrutiny for potential conflicts of\u2064 interest and \u200cviolations of ethics rules during Donald Trump&#8217;s presidency. The fraud case \u200bbrought \u2063by\u2062 Letitia James adds\u200d to the legal\u200b challenges faced by\u200c the Trump\u200d Organization.<\/p>\n<p>It remains to be seen \u2063how the upcoming\u2064 non-jury trial will unfold and what \u2062impact Eric Trump&#8217;s claim of undervaluation will have on the case. The outcome of the trial\u2063 could \u2064have significant consequences for the Trump Organization and its future operations.<\/p>\n<p>Meanwhile, the related \u2063stories surrounding Mar-a-Lago\u200c continue to attract attention. Recent articles have discussed Donald Trump&#8217;s\u200c willingness \u200cto testify under oath regarding the case, as well as the \u2064listing of Mar-a-Lago as sold on a real estate \u2063website. These stories further contribute\u200b to the \u200bongoing public interest in the\u2064 Trump family\u200b and their business dealings.<\/p>\n<p>As the legal battle over Mar-a-Lago unfolds, the Trump Organization and its executives must navigate the challenges and repercussions of\u2064 the fraud case. The future of \u2063the family&#8217;s private club hangs in the\u200b balance, as does the reputational and financial standing of \u2063the\u2064 Trump Organization.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Eric Trump claims that a New York judge underestimated Mar-a-Lago&#8217;s value by $1 billion when ruling that he and his father were responsible for fraud. On Sept. 26, Judge Arthur Engoron issued a summary judgment holding former President Donald Trump and his Trump Organization accountable for fraud in a civil lawsuit filed in New York.<\/p>\n","protected":false},"author":2167,"featured_media":2047271,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2047270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2047270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2167"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2047270"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2047270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2047271"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2047270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2047270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2047270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}