A Trump University seminar presentation advised students to try and boost their credit card limit by inflating their income by $75,000, according to documents made public in federal court this week. The instruction, legal experts said, could amount to a lesson in bank fraud.
“If someone is encouraging people to make a false representation about their current income -- that might be an appropriate target for prosecution,” said John W. Moscow, former head of the Frauds Bureau of the New York County District Attorney’s office.
“If the caller actually does what they were told to do, that could easily be fraud,” agreed Randall M. Fox, who served as founding Bureau Chief of New York Attorney General's Taxpayer Protection Bureau.
An undated presentation called “Fast Track to Foreclosure Investing,” offers an inside look at how the costly real estate seminars worked and includes instructions for how to increase credit card limits, presumably to enable someone with scarce resources to invest more money in foreclosed property.
“When asked for your income,” the instructor’s script reads, “take your current income and add $75,000 from your real estate enterprise.”
Throughout the deposition, Trump sparred with O'Brien's lawyer, Andrew Ceresney, over how the real estate tycoon determined what he was worth.
Trump: My net worth fluctuates, and it goes up and down with the markets and with attitudes and with feelings, even my own feelings, but I try.
Ceresney: Let me just understand that a little. You said your net worth goes up and down based upon your own feelings?
Trump: Yes, even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day ...
Ceresney: When you publicly state a net worth number, what do you base that number on?
Trump: I would say it's my general attitude at the time that the question may be asked. And as I say, it varies.
programs like this had alot to do with the housing crash
They went to Trump University...IMO they got what they deserved. Go to a real university next time. Jesus.
They probably believed they were going to the equivalent of a technical community college, where they would get the straight info without the required hippy dippy liberal arts credits. Lately the lid has been blowing off for-profit "universities" and it's only now starting to become common knowledge in the public awareness. That does not, however, make them deserve what they got. Fraud typically requires one party to be uninformed, but fraud is still illegal.
By "alot" (not a word BTW) you mean nothing at all
entitled kids wanted a get rich quick scheme. trump sold it to them. try a real university, my fellow 'millennials'. it's called work ethic, if it's easy it's probably not worth doing.
Lots of people believe a lot of ridiculous stuff. Perhaps they have legal recourse, but they are still ****ing retarded for going to Trump University in the first place.
actually alot of these programs existed before the housing crash, you might remember those informercials to buy a house and flip it for a profit, for no money down, no credit check and no collateral. you dont see those anymore do you?
entitled kids wanted a get rich quick scheme. trump sold it to them. try a real university, my fellow 'millennials'. it's called work ethic, if it's easy it's probably not worth doing.
I have netflix
But you are confusing cause and effect, programs like this are a byproduct of the problems that caused the housing crash
What they got instead equates out to a time share sales presentation.They probably believed they were going to the equivalent of a technical community college, where they would get the straight info without the required hippy dippy liberal arts credits. Lately the lid has been blowing off for-profit "universities" and it's only now starting to become common knowledge in the public awareness. That does not, however, make them deserve what they get. Fraud typically requires one party to be uninformed, but fraud is still illegal.
Meh, all of these things are very, very obvious in retrospect. Until I read an article a few years ago when the for-profit college issue was first coming to light (University of Phoenix), I didn't even know there was a difference between regional and national accreditation. Fortunately I didn't have to learn the for-profit college lesson myself (I just learned separate awful lessons).
First we find out that students were intimidated into giving positive reviews non-anonymously before they were allowed to receive their degrees. Then we learn that he lied that his knowledge on real estate would be in the Trump University curriculum, now we learn that he's encouraging students to commit bank fraud.
Trump University Script Tells Students to Inflate Income - ABC News
Trump Supporters' defense of this scandal thus far is that the students deserved it, because apparently "caveat emptor" is a get out of jail free card for any act, however despicable.
At least the curriculum's script is consistent with Trump's own philosophy on his net worth (in fact, it's probably the only thing he's ever been consistent about):
Donald Trump net worth: I'm worth whatever I feel - Apr. 21, 2011
So Trump is a fraud, defrauds the Trump University students, and then teaches them how to be frauds just like him. So what makes this election even worse than his usual business practices? Well, maybe it's because I know he's a fraud, and now that he's running for President there's a chance he'll defraud me in spite of my full awareness of what he is and that I don't want to get into bed with him.
Well, if nothing else, this is proof positive that Trump has made a lifetime out of feeding horse**** to really gullible people and making them believe that he actually gives a damn about them, and is going to help them. It didn't just start with this year's primary season.
well the true cause was deregulation, these programs were created to profit from those deregulations.
First we find out that students were intimidated into giving positive reviews non-anonymously before they were allowed to receive their degrees. Then we learn that he lied that his knowledge on real estate would be in the Trump University curriculum, now we learn that he's encouraging students to commit bank fraud.
Trump University Script Tells Students to Inflate Income - ABC News
Trump Supporters' defense of this scandal thus far is that the students deserved it, because apparently "caveat emptor" is a get out of jail free card for any act, however despicable.
At least the curriculum's script is consistent with Trump's own philosophy on his net worth (in fact, it's probably the only thing he's ever been consistent about):
Donald Trump net worth: I'm worth whatever I feel - Apr. 21, 2011
So Trump is a fraud, defrauds the Trump University students, and then teaches them how to be frauds just like him. So what makes this election even worse than his usual business practices? Well, maybe it's because I know he's a fraud, and now that he's running for President there's a chance he'll defraud me in spite of my full awareness of what he is and that I don't want to get into bed with him.
I don't think it needs hindsight. I think it just needs acknowledgement that one just applied to Trump University. Stupid people get what stupid people deserve.
Well, if nothing else, this is proof positive that Trump has made a lifetime out of feeding horse**** to really gullible people and making them believe that he actually gives a damn about them, and is going to help them. It didn't just start with this year's primary season.
They probably believed they were going to the equivalent of a technical community college, where they would get the straight info without the required hippy dippy liberal arts credits. Lately the lid has been blowing off for-profit "universities" and it's only now starting to become common knowledge in the public awareness. That does not, however, make them deserve what they get. Fraud typically requires one party to be uninformed, but fraud is still illegal.
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