Crime Letitia James Under Pressure to Prosecute Jon Stewart for selling his New York home 829% over market value

Scerpi said:
Interesting... So you're saying that its possible Mar Largo isn't worth $18 million and is likely worth several hundred million because that's what someone would pay for it?

lol...
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no. i didn't say anything about mar-a-lago anywhere in my posts. perhaps you are quoting the wrong guy. whatabout the mar-a-lago?

was the mar-a-lago appraised by the government at hundreds of millions of dollars? i dont think it was otherwise the fraudy orange election-losing rapist be paying alot more in property taxes. but that's not to say that he couldn't list the mar-a-lardo on the market for hundreds of millions of dollars.

it wouldn't be illegal for the fraudy orange sexual predator to sell the mar-a-lago for hundreds of millions of dollars either, assuming he didn't lie to anybody about the the property, he reports the sale and pays his taxes on it, and the buyer of the property didn't lie to the banks to obtain a loan to buy it or use any other kind of dirty money.

it doesn't matter if youre selling a new york apartment, your florida golf resort where you store your classified documents, or you're selling a banana or a piece of toast. if you do it by the books its all fair game. shit gets sold for well over appraised value or market price, every. single. day. just most of the time people don't lie to the banks and commit fraud just to obtain it.

that's the beauty of capitalism baby. you know this one time a piece of toast sold on ebay for $28,000. well i'm pretty sure it doesnt cost anywhere near that much money to buy a loaf of bread and toast it. but somebody once paid $28,0000 for a piece of toast. and i'd like to have them charged because donald trump once defrauded new york and my feelings are hurt and i need vindication.

so anyways, assuming that the person used honest money to buy the bread, the toaster, and pay their power bill, and the buyer used honest money to purchase that overvalued piece of toast, and the seller listed that piece of toast as income and paid his fair share of tax on it, then where's the crime? name the charges and define how those statutes would apply to selling something that you own for more than it's appraised market value?
 
White Whale said:
www.newsweek.com

Letitia James under pressure to prosecute Jon Stewart

Comedian faced criticism after it was reported that he sold his New York City apartment for significantly more than market value.
www.newsweek.com www.newsweek.com

nypost.com

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.
nypost.com nypost.com

People on social media have called for New York Attorney General Letitia James to prosecute late-night show host Jon Stewart as she did former President Donald Trump after it was reported that Stewart sold his city apartment for $15.6 million more than it was worth.

On Wednesday, the New York Post reported that Stewart sold his Tribeca penthouse in 2014 for $17.5 million. At the time, the 6,280-square-foot property had a market value of about $1.882 million, according to the City of New York's Assessment Roll 2013-2014, making the sale price roughly 830 percent higher.

People in glass houses shouldn't throw stones. Jon Stewart sold his New York way over its market value and according to himself that is not a victimless crime.
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Lol
 
Satsui Ryu said:
Not really. It is the city's responsibility to perform assessments on values of real estate for tax purposes. It has happened to me a few times and never once have I initiated. I'm not from NY but I am pretty sure there is no law stating Stewart had to provide updated appraisals at any point. If the city did not update their assessment that is on them. That is very different than Trump actually providing fraudulent information for tax purposes.
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it's really the same thing, two sides of the same coin. Valuations while done by the accessors can be wildly off from valuations done by a citizen. I have multiple properties that have varying valuations, and you can make the argument that the accessor is giving favorable treatment to Jon Stewart, are we going after the accessor for that? @Sinister says jon updated his place, that would trigger valuation increases if done properly, but naw, they safe. I have a piece of land that is overvalued by the accessor by 100% (not a typo), aint nobody going to bat on my behalf, bank on that. On top of that, the idea that the bank, who deals with valuations for a living, is ok with Trump's valuation, says it all, it's a non issue, the idea that the bank is defrauded on valuation only comes into play on pitched plays/business startups, but actual property, dont buy it at all, especially a non issue since they were paid back.
 
Natural Order said:
Undoubtedly. Like an embarrassed toddler lashing out in retort. Except neither scenario being anything alike. Hallmark Trumpian tantrum.

Make no mistake though, greed and corruption are much more aligned with the dollar than any ideology or perceived morality. Greed pisses on politics.
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No argument there.
 
chardog said:
it's really the same thing, two sides of the same coin. Valuations while done by the accessors can be wildly off from valuations done by a citizen. I have multiple properties that have varying valuations, and you can make the argument that the accessor is giving favorable treatment to Jon Stewart, are we going after the accessor for that? @Sinister says jon updated his place, that would trigger valuation increases if done properly, but naw, they safe. I have a piece of land that is overvalued by the accessor by 100% (not a typo), aint nobody going to bat on my behalf, bank on that. On top of that, the idea that the bank, who deals with valuations for a living, is ok with Trump's valuation, says it all, it's a non issue, the idea that the bank is defrauded on valuation only comes into play on pitched plays/business startups, but actual property, dont buy it at all, especially a non issue since they were paid back.
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That the system favors the wealthy is not anything you'll hear argument against here. But that's entirely different than one guy who sold at an inflated price, and one guy who actively falsified records to borrow against, and pay less taxes for, neither of which he disputes doing if you ask him one at a time. One guy is the beneficiary of a system that benefits the wealthy class, the other guy was gaming the system to accrue more wealth.
 
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UFCUCF said:
It is different unless you completely misunderstood how it works. The Assessor sets the value for tax purposes. No crime from Trump or Stewart for selling above the assessor’s value. In that case neither Trump nor Stewert lied to anyone. They paid the assessed value. This is not a crime anywhere in the u.s.

Trump lied on the value of his properties to induce people to loan him money. Stewert hasn’t taken any loan here. What Trump has done is a crime everywhere in the u.s.

This is not an intellectually honest thread.
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right, except that the banks are far better assessors than the government. The idea that they didnt know what they were getting into is also intellectually dishonest.
 
Natural Order said:
I wonder if his name and wealth had anything to do with the state forgetting about his...
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Initial appraisals are very formal. Reassessments are ballpark figures. When they happened to me, nobody came to check out my place. Wouldn't be surprised if the city simply went on Redfin and saw what comparable places were selling for and adjusted based on that. In a city as huge as NYC I would not be surprised if they use the most basic methodology to reassess real estate they can and probably do it by neighborhood rather than individual home.

Main point is there is absolutely nothing that Jon Stewart did that is underhanded in this case.
 
chardog said:
it's really the same thing, two sides of the same coin. Valuations while done by the accessors can be wildly off from valuations done by a citizen. I have multiple properties that have varying valuations, and you can make the argument that the accessor is giving favorable treatment to Jon Stewart, are we going after the accessor for that? @Sinister says jon updated his place, that would trigger valuation increases if done properly, but naw, they safe. I have a piece of land that is overvalued by the accessor by 100% (not a typo), aint nobody going to bat on my behalf, bank on that. On top of that, the idea that the bank, who deals with valuations for a living, is ok with Trump's valuation, says it all, it's a non issue, the idea that the bank is defrauded on valuation only comes into play on pitched plays/business startups, but actual property, dont buy it at all, especially a non issue since they were paid back.
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If you were in charge of lending, and one of your guys issued a loan / debt collateralized by a fraudulently over valued property, would you say it’s ok, we’ll just wait to see if they pay it back, or would you be pissed off at your lender and take action against the fraudulent representation of the asset by the borrower? Assuming you found out before the debt was repaid….
 
Sinister said:
Arguing that the system favors the wealthy is not anything you'll hear argument against here. Bit that's entirely different than one guy who sold at an inflated price, and one guy who actively falsified records to borrow against, and pay less taxes for, neither of which he disputes doing if you ask him one at a time. One guy is the beneficiary of a system that benefits the wealthy class, the other guy was gaming the system to accrue more wealth.
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you act like a bank handing out a massive loan, didnt have their own assessor.

try getting a loan using your beat up honda civic as collateral for 100K and see how far that goes.
 
chardog said:
no, but if you're going to hold the same standards, he defrauded the public by paying way below property taxes......
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the government assessed the value of his property. did he not pay that amount in property taxes before he sold his property?
 
White Whale said:
"Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied.

In response, Stewart asked: “How is he not this mad about overvaluations in the real world?”

“Because they are not victimless crimes,” he said.

To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”

Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior.

“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.”

In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million.

The property’s asking price at that time is not available in listing records.

But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million.

The actual assessor valuation was even lower, at $847,174.

Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue.

Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss, according to the Real Deal — at just over $13 million — in 2021.

Jon Stewart by his own logic committed a crime.
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Parag Pande - I see he worked at Blackstone
 
kflo said:
If you were in charge of lending, and one of your guys issued a loan / debt collateralized by a fraudulently over valued property, would you say it’s ok, we’ll just wait to see if they pay it back, or would you be pissed off at your lender and take action against the fraudulent representation of the asset by the borrower? Assuming you found out before the debt was repaid….
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you are making the assumption that the bank did not do their own appraisal

you get a damn appraisal for a heloc, trump suddenly gets by that because he's asking for more money that most humans would ever ask for? gtfo
 
Belaya Smert said:
I’m willing to sell my place for 600% over asking.
Furniture and air hockey table included.
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make sure you pay back 600% of your property taxes that you were told to have to pay every year you owned your property for, otherwise i will have no choice but to have to invent a crime to charge you with.

what are the dimensions to that hockey table?
 
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