(RepublicanPress.org) – In February, former President Donald Trump lost his civil fraud trial in New York. The lawsuit claimed that the defendant inflated his property values on financial statements in order to get better deals on loans while at the same time undervaluing his properties when the taxes came due. Recently, comedian Jon Stewart got called out for his own real estate deal after roasting Trump.
On March 25, “The Daily Show” host blasted the experts claiming that Trump’s fraud was a victimless crime. Stewart laid out the judgment and the defendant’s problems securing a nearly half-billion dollar bond to appeal. He rolled a clip of “Shark Tank” star Kevin O’Leary stating that the entire real estate industry is now worried because what Trump did was standard practice. Stewart then laid out who was hurt by Trump’s actions. Soon afterward, the host was called out on social media for reportedly selling his apartment for 829% over assessed value.
The political commentator claimed Stewart’s New York apartment’s market value was listed as $1.8 million when he sold it for $17.5 million. The assessed value was allegedly listed as $800,000. The sleuth asked, “Who did He defraud?” The answer is nobody.
People can sell their belongings at whatever the market will pay for them—the very definition of market value. In Stewart’s case, that appeared to be a significant markup. The assessed value of a property is determined by the local tax assessor and is not tied to the market value.
Stewart responded with his own tongue-in-cheek response, exclaiming, “OMG, I’ve been caught doing something not remotely similar to Trump!”
Judge Arthur Engoron ordered Trump to pay $355 million, plus interest, for his fraud case, which has accumulated to over $454 million to date. After he failed to secure a bond, an appeals court reduced the amount he needed to secure it down to $175 million and extended the deadline by 10 days. The judgment, however, remains at $454 million and counting.
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