A lawyer has suggested that the former president damned himself with his testimony in the New York civil fraud trial.

During his Monday testimony, Trump admitted that his real estate company, The Trump Organization, submitted financial statements “to induce lending” from companies such as Deutsche Bank—an apparent admission to a key allegation by James’ office that the financial statements which inaccurately valued his net worth were done so to receive loans from banks and insurers.

  • athos77@kbin.social
    15·
    11 months ago

    Um, maybe? Florida law prevents someone’s primary home (and their pensions) from being force-sold to pay creditors - it’s one of the main reasons OJ Simpson moved there, to protect his assets from the Goldmans and the Brown-Simpsons. And there’s no cap on the amount your primary residence is worth to be protected.

    That said, Mar-a-lago has some weird ownership thing going on with it, and I’m not sure whether federal disgorgement takes precedence over state protections. It’ll probably end up in court yet again.

    • Captain_Patchy@lemmy.worldOPEnglish
      461·
      11 months ago

      Part of the deed that allowed Mar-a-lago to be created in the first place is that it would not be allowed for ANYONE to EVER use it as a residence, not even allowed to tear it down and build residential in it’s place.
      The “deed of development rights” outlines that “the Club and Trump intend to forever extinguish their right to develop or use the Property for any purpose other than club use”

      Prisoner Number P01135809 is ALREADY breaking that covenant by living there.

      • GONADS125@lemmy.world
        5·
        11 months ago

        One of his recent defenses centered around that word “intend.” He believed that by specifically stating “intend” it doesn’t mean he will/has to do it, as he merely “intends” to. He argued that he can “intend” to do something at one point, but later change his mind, and he believes this is a legal loophole. It’s not…

        That defense has fallen flat… But it’s worth pointing out because in his deluded mind, he believes that allows him to violate all of his contracts/agreements.

        I guarantee that’s the situation here with Maralago being his residence.

        • logicbomb@lemmy.world
          1·
          11 months ago

          On top of all that, Trump seemed to be arguing that he could “intend” for one thing in perpetuity, even though he knew at that same moment that he would “intend” for something else one minute later. And I don’t think that would work with any definition of “intend.”