“Let Me Put This Whole Case in Plain English for You, Ok?” Trump’s Lawyer Habba Takes Aim at Letitia James, as She Attempts To Defend the Former President
Trump’s attorney, Alina Habba, has endeavored to provide a straightforward defense for Trump in his New York fraud trial, all while expressing her anger toward New York’s Attorney General, Letitia James.
“Let me put this whole case in plain English for you, OK?” argued Habba.
However, given the intricate network of questionable property valuations, financial documents, and witness accounts, can such a straightforward defense even be viable?
Habba Attempted to Defend Accusations of Fraud Against Trump
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Speaking to the press outside the courtroom, Habba took a shot at Attorney General James while striving to defend Trump against fraud allegations.
Former President Donald Trump faces a $250 million lawsuit in New York that could have significant implications for his personal wealth and the real estate empire that played a pivotal role in his journey to his former Presidency.
Trump and Sons Committed “Numerous Acts of Fraud,” Alleges James
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The lawsuit, brought by New York Attorney General Letitia James, accuses Trump, his sons Eric and Don Jr., and Trump Organization executives of participating in a scheme that involved “numerous acts of fraud and misrepresentation” to inflate Trump’s net worth.
Trump and His Organization Overstated the Value of Many Real Estate Properties
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In her civil suit, James alleges that Trump, his children, and the Trump Organization artificially inflated the values of numerous real estate properties to obtain more favorable terms on loans and insurance.
Bank’s Hire Appraisers, Habba Begins Her Argument
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“I think you guys need to understand something: banks hire appraisers, everybody here knows it, everybody here who has purchased a home or purchased anything in real estate understands this very basic thing,” said Habba, Trump’s lawyer.
“It’s Very Basic,” Argues Trump’s Lawyer in Fraud Trial
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She continued, “They hire people like that gentleman to go do their own values. Now, those values are going to be lower than the ones that the homeowner or the commercial real estate owner would use. It’s very basic.”
Can Trump’s Lawyer Defend Him “In Plain English?”
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Habba continued by attempting to put her argument into layperson’s terms. “Let me put this whole case in plain English for you, OK? You are an individual, you go to get something appraised. You say my house is worth this. Your bank doesn’t take your word for it,” she explained.
Valuation of Trump’s Properties Had Not Taken Into Consideration His “Brand.”
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Habba added that the case against Trump didn’t take into account the value of the Trump brand.
“The statement of financial conditions didn’t include President Trump’s brand. The statement of financial conditions does not include the big picture.”
Put Letitia James’ Name on Trump Tower, and It Would Not Be Worth as Much
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“If you take Trump Tower and you take the Trump name off of that building, and you put Letitia James’ name on that building, it would not be worth what it’s worth when Donald Trump owns it,” said Habbas, lashing out at Attorney General James in the press interview.
Property Appraisers Must Comply With USPAP
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During the trial, Trump listened to testimony about compliance with USPAP. USPAP is the benchmark for many appraisal services, encompassing real estate, personal property, business, and mass appraisal. Adherence to USPAP is mandatory for specific federally-related real estate transactions.
Independent Appraiser Looked Surprised at Seeing Trump’s Notes
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Trump observed as an external appraiser, Larson, engaged by a bank contemplating a loan for Trump, looked surprised upon finding his name referenced in notes within a Trump Organization dataset.
It implied he had advised the Trump Organization on a $735 million valuation of the 40 Wall Street property.
Valuation of Wall Street Property “Inappropriate and Inaccurate”
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“It’s inappropriate and inaccurate,” said the appraiser, Doug Larson, when questioned about his supposed valuation.
Trump’s personal lawyer rigorously questioned Larson, the appraiser, regarding his field of expertise, the distinction between market value and investment value, and whether there were disparities between appraisals and valuations.
Accountant Was Instructed to Value the Building at Full Occupancy
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The court was presented with details on the creation of a weekly internal cash report. Subsequently, an accountant currently employed at Trump’s company disclosed that an executive had directed her to value a building as if it were at full occupancy, based on the explanation that at some point it would be.
Ivanka Trump Had the “Right to Purchase” Two Apartments for Substantially Less Than Valued in Statements
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Trump’s daughter, Ivanka, was given the right to purchase two apartments — one for $8.5 million and the other for $14.2 million.
Attorney General James asserted that the company assessed the apartments at significantly higher values based on Trump’s statements, at $20 million and $45 million, respectively.
Trump Made Millions in “Ill-Gotten Gains”
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New York State asserts that Trump accrued hundreds of millions in “ill-gotten gains” by artificially inflating his wealth. In September, Judge Arthur Engoron, presiding over the case, had already found the defendants liable for fraud.
Trump Suggested Judge Engoron Was Getting Pushed Around “Like a Pinball” by Democrats
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As Habbas continues to defend the former President “in plain English,” Trump hit out at Judge Engoron.
“He’s got all the Democrats pushing him left and right, pushing him around like a pinball,” Trump said.
James Refuses to Be Caught up in Trump’s Onslaught
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Conversely, New York Attorney General Letitia James, who has been the subject of many of Trump’s remarks during courtroom intermissions, seems to have remained unaffected by them thus far.
Trump’s Empire “Was Built on Nothing but Lies” and “Sinking Sand”
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James has conveyed her confidence in winning the case. “He can call me names, he can engage in distractions, but at the end of the day… his entire empire was built on nothing but lies and on sinking sand,” she told the press.
NY Fraud Trial Ongoing With Allegations of Falsification of Records and Conspiracy
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The trial continues on numerous charges, encompassing falsification of business records and conspiracy.
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