{"id":2095751,"date":"2023-11-09T19:39:04","date_gmt":"2023-11-10T00:39:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/letitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says\/"},"modified":"2023-11-09T19:42:08","modified_gmt":"2023-11-10T00:42:08","slug":"letitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/letitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says\/","title":{"rendered":"Letitia James Trying to Nail Trump for &#8216;Losses No One Ever Suffered,&#8217; Former Fed Prosecutor Says"},"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\">32<\/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%2Fletitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says%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=2095751&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--><h2>Letitia James Trying to Nail Trump for &#8216;Losses No One Ever\u2062 Suffered,&#8217;\u200d Former Fed Prosecutor Says<\/h2>\n<p>Former\u200b federal prosecutor Andrew McCarthy argues that New York\u200c Attorney General Letitia \u200bJames \u200dand Manhattan Supreme Court\u200c Justice Arthur Engoron are inventing losses to try\u200d to get \u200bTrump.\u200d McCarthy believes\u2063 that James&#8217; \u200bcase alleging civil\u200d fraud is baseless and\u2062 lacks evidence.<\/p>\n<p>This week, former President Donald\u200d Trump testified \u2063in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-legal-and-political-jeopardy-an-interview-with-former-federal-prosecutor-andrew-mccarthy\/\" title=\"Interview with ex-Federal Prosecutor Andrew McCarthy on Trump's legal and political risks.\">civil fraud case brought<\/a>\u2063 by James, who \u200cclaims that he and the Trump Organization\u200d inflated \u2062property values to\u200c secure better loan terms. James is seeking $250 million in penalties and a\u2062 ban on Trump and his company doing business in New York.<\/p>\n<p>Before testifying, \u200dTrump \u200bconfidently \u2064stated that his company&#8217;s \u2064financial\u2063 statements were conservative and that there was no fraud. He \u200bemphasized that \u2063lenders\u2062 were responsible for conducting their own due diligence to determine \u2063the value of \u2064the assets.<\/p>\n<p>After testifying, Trump expressed his belief that\u2062 there is no case and no \u2062victims, \u2063as everyone involved\u200c was paid. \u2064He criticized James, calling her a disgrace to the\u200b country\u200c and the state \u200bof New York,\u200b and\u2064 suggested that\u2064 she should\u200b focus on addressing \u200dviolent\u2062 crimes and murder in the \u2064city.<\/p>\n<p>In September, Engoron ruled that Trump and the Trump Organization committed\u200d fraud against \u200blenders and insurers by inflating property\u2064 values. He is now presiding over a non-jury \u200btrial \u2062to determine the penalties for the former president\u200c and his company.<\/p>\n<h3>Is\u2062 this a political prosecution?<\/h3>\n<p><strong>Yes<\/strong><\/p>\n<p><strong>No<\/strong><\/p>\n<p>Last week, James&#8217; \u200cattorneys presented a bank expert who claimed that the Trump Organization saved $168 million in loan interest \u200dpayments due to inaccurate property valuations. However, McCarthy\u200d dismisses this claim and argues that\u2062 banks are sophisticated enough \u2062to assess asset values independently.<\/p>\n<p>McCarthy further points out that even if Trump&#8217;s \u2063properties were \u2064overvalued, \u2063there\u2064 is no evidence that the banks \u200cwould \u200dhave <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/letitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says\/\" title=\"Letitia James Trying to Nail Trump for 'Losses No One Ever Suffered,' Former Fed Prosecutor Says\">charged higher interest rates<\/a>. He suggests that the banks \u2063would have taken\u200b into account various factors when\u200d setting loan terms, such as Trump&#8217;s\u2064 payment history and their\u200b own desire to\u200d earn money through lending.<\/p>\n<p>McCarthy also questions why the banks themselves did not sue Trump if\u2064 they believed\u2064 they had \u200dbeen \u2064defrauded. He concludes \u2064that James\u200b and\u2064 Engoron are inventing losses that no one ever suffered in an attempt to bring \u200ddown Trump.<\/p>\n<p>Trump&#8217;s legal team has requested \u2064a directed verdict, \u200casking Engoron \u2062to dismiss the case based on the evidence presented at trial, including Trump&#8217;s testimony.<\/p>\n<hr>\n<div class=\"author_subscription_pitch\">\n<p><em><b>A Note from Our\u200b Deputy\u200b Managing Editor:<\/b><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">I walked into the \u2062office\u2062 one \u200dmorning and noticed something strange. Half of\u200d The Western Journal\u2019s readership was missing.<\/span><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">It had finally happened. Facebook\u2062 had flipped THE \u2064switch.<\/span><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">Maybe\u200b it was because we\u2064 wrote about ivermectin. \u200bOr election integrity. Or the Jan. 6\u2062 detainees. Or ballot \u200dmules.<\/span><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">Whatever \u2062the reason, \u200cI immediately knew what\u2063 to do. We had to <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">turn \u2063to you<\/span><\/a><span style=\"font-weight: 400\">  because, frankly, we know\u200d you\u200d are the only ones we can \u200ctrust.<\/span><\/em><\/p>\n<\/p>\n<p><em><b>Can you help?\u200b <\/b><span style=\"font-weight: 400\">Every <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">donation<\/span><\/a><span style=\"font-weight: 400\">  to \u2063The Western Journal goes \u2063directly to funding our team of story researchers, writers and editors who\u200d doggedly pursue the truth and expose the corrupt \u200celites.<\/span><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">Can \u200bI count on you for a <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">small donation<\/span><\/a><span style=\"font-weight: 400\">? We operate \u2064on a shoestring compared to other news media companies, so I can personally\u2062 promise that not a penny of <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">your\u2062 donation<\/span><\/a><span style=\"font-weight: 400\">  will\u200c be wasted.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">We will use every single cent to fight\u2062 against the \u200blies and\u200c corruption\u2063 in high\u200c places. <\/span><b>And as long as we have <\/b><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><b>your\u2063 help<\/b><\/a><b>, we will never give up.<\/b><\/em><\/p>\n<\/p>\n<p><em><span style=\"font-weight: 400\">Sincerely,<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Josh Manning<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Deputy Managing Editor<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">The Western Journal<\/span><\/em><\/p>\n<\/div>\n<p>The \u200cpost\u200c <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/letitia-james-trying-nail-trump-losses-no-one-ever-suffered-former-fed-prosecutor-says\/\">Letitia James\u200c Trying\u200c to Nail Trump for &#8216;Losses No One Ever Suffered,&#8217; Former Fed \u2063Prosecutor Says<\/a> appeared first \u200don <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n<p> <\/p>\n<h2> Why does\u200d McCarthy\u2064 question why the banks themselves did not sue Trump if they believed they had been\u200d defrauded<\/h2>\n<p><span>  \u200dLetitia James, \u200dthe New York \u2063Attorney General, is currently pursuing a civil fraud case against \u2062former \u2063President Donald Trump\u200d and the Trump Organization. The \u200dcase alleges that Trump and his company inflated property values to secure better loan terms and seeks $250 \u200bmillion in penalties, as well as a ban on Trump and his company doing business in New York. However, former federal prosecutor Andrew McCarthy argues that \u200cJames&#8217; case is baseless and lacks evidence.<\/p>\n<p>Last week, the Trump Organization \u200btestified\u200d in the civil fraud case,\u200b with Trump himself confidently stating that the company&#8217;s financial statements were conservative and that there was no fraud. He emphasized that lenders were responsible for conducting \u2063their\u200c own due diligence to determine the value of the assets.<\/p>\n<p>Following his testimony, Trump expressed his belief that there \u2063is no case and no victims, as everyone involved was paid. He criticized\u2062 James, calling her a \u2063disgrace to the\u2064 country and the state of \u2062New York, and suggested that she\u2063 should focus on addressing violent crimes and murder in the city.<\/p>\n<p>In September, Manhattan Supreme Court Justice Arthur Engoron ruled that Trump and the Trump \u200bOrganization committed fraud against lenders \u2062and insurers by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-attorney-general-asks-court-to-penalize-trump-over-rejected-legal-arguments\/\" title=\"NY Attorney General seeks penalties against Trump for rejected legal arguments.\">inflating property values<\/a>. Engoron\u200c is now presiding over a non-jury trial to determine the penalties for the former president \u2063and his company.<\/p>\n<p>However, McCarthy questions the case presented by James, arguing that banks are sophisticated enough to assess asset values independently. Even if Trump&#8217;s\u2062 properties were\u200b overvalued, there is no evidence that the banks would have charged\u2064 higher interest rates.\u200b McCarthy \u2063suggests that the banks would have taken into account various factors when setting loan terms, such as Trump&#8217;s payment history and\u200b their\u200d own desire to earn money through lending. McCarthy also questions why\u200b the banks themselves did not sue Trump if they believed they had been defrauded. He concludes that James and Engoron are inventing losses that no one ever suffered in an attempt to bring Trump down.<\/p>\n<p>Trump&#8217;s \u200clegal team has requested a directed \u2064verdict, asking Engoron to dismiss the case based on the evidence \u2063presented at trial,\u200b including \u2064Trump&#8217;s testimony.<\/p>\n<p>In conclusion,\u2064 Andrew McCarthy argues \u200bthat Letitia James&#8217; case against Donald\u200b Trump and the\u2064 Trump Organization alleging civil fraud is baseless and lacks evidence. McCarthy believes that losses are being invented in an attempt to\u200b bring Trump\u2064 down, and questions why\u2063 the banks themselves did not sue if they believed they had been defrauded.\u2062 The trial will continue to determine the penalties\u2063 for Trump and his company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former prosecutor Andrew McCarthy accused NY Attorney General Letitia James and Justice Arthur Engoron of fabricating losses to target Trump. Trump recently testified in a civil fraud case filed by James, claiming that he and the Trump Organization exaggerated financial figures.<\/p>\n","protected":false},"author":662,"featured_media":2095752,"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":[],"tags":[],"class_list":["post-2095751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"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\/2095751","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\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2095751"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2095751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2095752"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2095751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2095751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2095751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}