The MeidasTouch Podcast - DEBUNKING Trump’s Attack on Judge After LOSING Massive Fraud Lawsuit

Episode Date: September 27, 2023

MeidasTouch host Ben Meiselas debunks the attacks by Donald Trump, his adult kids Eric and Don Jr., and right-wing media that Judge Engoron ruled that Mar-A-Lago is valued at $18 million. Meiselas shows how the judge was citing the tax assessor and that the Trump’s fought for the lower valuation to pay less taxes. Thanks to our sponsor Zniotics! Head to zbiotics.com/MEIDAS to get 15% off your first order when you use MEIDAS at checkout. Remember to subscribe to ALL the Meidas Media Podcasts: MeidasTouch: https://pod.link/1510240831 Legal AF: https://pod.link/1580828595 The PoliticsGirl Podcast: https://pod.link/1595408601 The Influence Continuum: https://pod.link/1603773245 Kremlin File: https://pod.link/1575837599 Mea Culpa with Michael Cohen: https://pod.link/1530639447 The Weekend Show: https://pod.link/1612691018 The Tony Michaels Podcast: https://pod.link/1561049560 American Psyop: https://pod.link/1652143101 Burn the Boats: https://pod.link/1485464343 Majority 54: https://pod.link/1309354521 Political Beatdown: https://pod.link/1669634407 Lights On with Jessica Denson: https://pod.link/1676844320 Uncovered: https://pod.link/1690214260 Learn more about your ad choices. Visit megaphone.fm/adchoices

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free of charge bet mgm operates pursuant to an operating agreement with iGaming ontario i'm ben micellis from the midas touch network i want to immediately debunk the lies that Donald Trump, Eric Trump, Don Jr., and right-wing media are spreading about the summary judgment order that was granted by a New York judge, Judge Arthur Ngoran, in favor of New York Attorney General Letitia James in her civil fraud lawsuit against Donald Trump, Eric, Don Jr., and various Trump-related organizations. The partial summary judgment was handed down on Tuesday, and it resulted in the cancellation of the business licenses of the various Trump organizations in New York and ordered the dissolution of those businesses. And immediately after that order was handed down by Judge Arthur Ngoran, you had Donald Trump and Donald Trump's kids like Eric and Don

Jr. And then right-wing media spread this lie that Judge Ngoran is a Trump-hating judge who just lied throughout the order in order to destroy Donald Trump's business. And one of the pieces of evidence they all have been citing for that is that they claim Judge Ingoron made a ruling that Judge Ingoron, the New York judge, determined that Mar-a-Lago is worth only $18 million. And they say, how absurd is it that Judge Angoron can make that finding as a judge? This property is worth so much more than that. Look at all of the properties nearby. So it's very easy to debunk this. And this is what I always say on the Midas Touch Network. It's important that we have serious evidence and fact-based conversations, right? And the moment an order like this gets

handed down and it's not unique to this case, this civil case, it's all of the cases. What do the Trumps do? They spread lies, they spread disinformation, and then it is repeated in right-wing media and then parroted by all of their followers. And the problem is it's just false. They're grifters. They're conmen. They're liars. And let me prove it to you.

So here's what Eric Trump said after the partial summary judgment order was handed down. Eric says, in an attempt to destroy my father and kick him out of New York, a judge just ruled that Mar-a-Lago in Palm Beach, Florida is only worth approximate $18 million. Mar-a-Lago is speculated to be worth well over a billion dollars, making it arguably the most valuable residential property in the country. It's also corrupt and coordinated, to which I ask, okay, Eric, does that mean that you've been paying property taxes on a billion dollars? Or have you been paying the property taxes on a valuation of somewhere between $18 million and $26 million, which is where the Palm Beach County tax assessor valued the property? And perhaps what really happened when we care about the facts and not the propaganda is maybe back in 2020, you and your daddy and the Trump organization argued that a $26.6 million valuation was too high. Where would I find that out? Maybe if I just did a very

basic Google search, and here's the thing, all of this stuff is available this stuff is public record let's take a look at what the Palm Beach Daily News said back in November 13th of 2020 the property tax bill is down slightly for Mar-a-Lago Trump's Palm Beach County taxes hold steady at 1.48 million dollars for all of Donald Trump's properties so if you go through this article, it talks about the Mar-a-Lago Club is no longer the Winter White House because Trump lost. Even without the nickname, nothing much is expected to change about the club as far as the Palm Beach County Tax Collector's Office is concerned. Like every other taxable parcel in the country, Mar-a-Lago was billed for its 2020 property taxes when the tax rolls were finalized in October. Under state law,

the bills must be mailed on or before November 1. Records show Mar-a-Lago's bill totaled $511,000. We'll round up. We'll say $512,000 down slightly from last year and also down from a preliminary estimate of $516,000. Okay, so the property tax on Mar-a-Lago it's under 1%. So let's just say it was 1% property tax right there. So Eric, you're saying you want to pay the 1% on a billion dollar valuation. So wouldn't that mean that you would be paying about $10 million in tax every year? Yeah, I don't think that's what you were arguing to the tax assessors. Oh, wait a minute. As we go through this article, it actually says that the Trump organization filed an appeal to a valuation in 2020 of $26.6 million. And here's what it says. Tax representatives at Marvin F. Poore & Co., acting on behalf of Trump's property ownership, filed petitions this year to state-authorized value adjustment board challenging the valuations assigned to Mar-a-Lago and other properties. A virtual hearing has been scheduled December 3 to consider Mar-a-Lago's valuation, which at $26.6 million

is unchanged from last year. Under state law, values are assigned as of January 1 each year. You had a tax assessor. You filed an appeal to the tax assessor's valuation of $26.6 million to ask for it to be less. In other words, pull up this graphic. This is what you claim that Mar-a-Lago is at tax time. And here is what you claim Mar-a-Lago is at loan time. Exactly. Now let's take a look at what the judge actually said. Because the judge didn't formulate a valuation, the judge simply restated the undisputed fact, which is what the appraised value is. The judge didn't say, I hereby order the valuation of Mar-a-Lago is X. The judge said, here's what the appraisal is. And by the way, this is what the Trumps argued the value was.

That's why it's called an undisputed fact. This is from Judge Ngoran's order. From 2011 to 2021, the Palm Beach County Assessor appraised the market value of Mar-a-Lago at between $18 million and $27.6 million, and it cites where the appraisal was done. Notwithstanding that, the statement of financial condition values do not reflect these land use restrictions. Donald Trump's Statement of Financial Conditions for 2011-2021 value Mar-a-Lago at around $426 million and $612 million, an overvaluation of at least 2,300% compared to the assessor's appraisal. Okay, well, one of the things I'm interested in then too, right, because we care about the facts here, is let's take a look. Oh, by the way, Eric says it's a billion dollars. According to the statement of financial conditions, at most it's $612 million. So you're already now, Eric,

overvaluing it, inflating the valuation, exactly what you're accused of doing, even if you accept the outrageous valuation that you're giving it. But wait a minute. There's an issue about land use restrictions. So what are these land use restrictions that were placed on Mar-a-Lago? Well, probably also a tax avoidance scheme to pay less taxes, which is what encumbers the property and why the valuation would be less of Mar-a-Lago than adjacent and neighboring properties, even if the neighboring properties are purely residential,

are not encumbered, and have smaller lots. Here's what it says with Mar-a-Lago. Trust for historic preservation. Donald Trump agreed that, quote, Trump intends to forever extinguish his right to develop or use the property for any purpose other than club use. The 2002 deed also specifically limits changes to the property, including without limitation, the division or subdivision of the property for any purpose, including use as a single family home, the interior renovation of the mansion, which may be necessary and desirable for the sale of a property as a single family residential estate, the construction of new

buildings, and the obstruction of open vistas. In exchange for granting the easements, Mar-a-Lago was taxed at a significantly lower rate, the club rate, than it otherwise would have been. So all of these encumbrances, historical preservations, requirements that there can't be subdivisions, there can't be any other buildings on it, that's why this is actually not treated like a residential property because it was part of a tax avoidance scheme. And now let's take a quick break to talk about our next partner, ZBiotics. You ever skip a workout because of drinks the night before? Well, me too. If you're committed to your healthy routine this year, you need ZBioticsics. Z-Biotics pre-alcohol probiotic is

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Z-Biotics is also backed with a 100% money back guarantee. So if you're unsatisfied for any reason, they'll refund your money. No questions asked. Remember, head to zbiotics.com slash Midas and use the code Midas at checkout for 15% off. Thank you Z Biotics for sponsoring this. And now back to the video. So then you go into, I don't know, why don't we take a look at what Don Jr. says. So Don Jr. posts a property nearby by Taylor Budowich writes, for reference, here's a patch of trees down the road from the historic Mar-a-Lago property on a lot that's a

fraction of its size going for $150 million. And then Don Jr. goes, yeah, but Mar-a-Lago with 10 times the land, ocean frontage, and one of the most spectacular homes in the world on it is worth only $18 million because a judge wants it to be so for his narrative. No, you wanted it to be so for your narrative to pay less taxes. So you all, and this is what the case is about, you all suppressed, deflated the valuation of Mar-a-Lago and had all these historical preservations and easements and all these encumbrances on it to pay less taxes. And then when the tax assessor gave it a $26.6 million valuation, you all challenged it and said 26.6 was too high.

The judge doesn't have a narrative. The judge is again repeating what you all are saying, what you agreed to, to pay less taxes. That was the bargain that to, to pay less taxes. That was the bargain that you wanted to pay less taxes. And why this case is about fraud is because the deal that you made, you want to break with the financial markets. You want to say, okay, for purposes of taxes, we value this at under 26.6. For purposes of getting a loan on our statement of financial conditions, we are going to put the valuation at $627 million. By the way, as I mentioned, still less than what y'all are lying about right now. So how does the New York Post cover it? New York Post says, Donald Trump's

Mar-a-Lago estate worth at least $300 million, not $18 million as New York judge ruled. This is the New York Post headline. Okay. Even if you take the $300 million, there's still fraud that was committed. So New York Post's headline is conceding that there was fraud because that would still at $300 million be an incorrect valuation. But in any event, let's accept for the sake of argument here, take it at face value. It says $18 million as New York judge ruled. The New York judge didn't rule that. I've read to you what the New York judge stated. He stated what the tax assessor said, and the Trumps fought to make the tax assessor amount less. But okay, as I said, except for the

sake of argument, the New York Post headline that Mar-a-Lago is worth at least $300 million is what they say. Here's what Donald Trump's post is. I have a deranged Trump-hating judge who railroaded fake case, New York courts, high speed. They want to kill Trump, all caps. And this is the example they give. As an example, the judge values the most spectacular property in Palm Beach, Florida, Mar-a-Lago at $18 million when it is worth possibly 100 times that amount. Okay. So Donald Trump now says 1.8 billion. So now Donald Trump is engaging in the same fraud. Okay. New York Post do claim it's 300 million. Trump saying it's worth

1.8 billion. So he's engaging in the same scheme again. And then let's take a look at what Trump says at the bottom. He goes, there is also an ironclad disclaimer clause, which Trump claims allows him to lie to banks. And he could say whatever he wants when taking out a loan, it doesn't matter. He can say the valuations are numbers that are different than the tax assessments is what he argues. But when you actually take a look at what Donald Trump refers to as the ironclad worthless clause or disclaimer clause, again, this is why it's important that we read. This is what this clause is. First off, there's nothing.

There's no such thing as a worthless clause. You can't commit fraud on financial statements and then disclaim fraud. That's unlawful. You can't do that. But anyway, let's take a look at what this ironclad worthless clause says. Here's what it says. Assets are stated at their estimated current values and liabilities at their estimated current amounts using various valuation methods. Such valuation methods include but are not limited to the use of appraisals, capitalization of anticipated earnings, recent sales and offers, and estimates of current values as determined by Mr. Trump in conjunction with his associates and in some instances outside

professionals. Considerable judgment is necessary to interpret market data and develop the related estimates of current value. Accordingly, the estimates presented herein are not necessarily indicative of the amount that could be realized upon the disposition of the assets or payment of related liabilities. The use of different market assumptions and or estimation methodologies may have a material effect on the estimated current value amounts. And it says, in the sworn deposition, Trump spent a lot of time invoking this clause. Well, they call it a disclaimer. They call it a worthless clause.

Trump goes on to say that I have a clause in there that says, if I don't believe this statement, go out and do your own work. This statement is worthless. It means nothing. Furthermore, Trump implies that he did not consider it important to review his statement of financial conditions for accuracy because of the purported worthless clause. Those are just the facts. That worthless clause is not ironclad. It's not strong. There's no such thing as a worthless clause. And Donald Trump said he didn't even review his statement of financial conditions because he thought it was okay to lie. And that Donald Trump also says he seems to imply

that the numbers cannot be inflated because he could find a buyer from Saudi Arabia to pay any price he suggests. And as a footnote states, this statement seems to suggest influence buying by foreign countries more than savvy investing. And then again, if you go through all of the arguments that they make, like here's one that Eric Trump reposts. He posts the valuation of parcels or residential properties nearby. Here Eric goes, these homes are about 1 30th the size of Mar-a-Lago, not on the beach. Don't span from one side of Palm Beach Island to the other. It's a travesty and a justice for an embarrassment for the court. Well, here's the thing, like 500 Regents Park, $40 million. They're paying more property taxes than you're paying at

Mar-a-Lago. Seven La Costa Way, $39 million, $39 million. They're paying the property taxes on that unless they're committing crimes as well. They're paying property taxes at $40 million. You were paying property taxes at $26 million. And one of the final things that I find to be so fascinating here, I guess fascinating may be the wrong word. So then I posted in response to Eric Trump's false tweet that the judge made this order. The judge didn't order that. I said false. The judge didn't make any order. 2021, the Palm Beach County assessor appraised the market value of Mar-a-Lago at between $18

million and $27.6 million because of various land use restrictions. The judge simply restated the appraisal, which is an undisputed fact. That is, it's an undisputed fact. That's the appraised value. And you all fought again to make the valuation less. And the nearby properties don't have the historical preservation encumbrances on it, and they're able to sell it more freely and build in a different way than you are. That's why the valuations of those properties are higher. Again, that's the deal that you all wanted. But then all these people, whether they're bots or Elon's folk or whoever, like everyone wants to defend, not everybody, all the MAGA people want to defend Donald Trump's, like fraud scheme. And they act like they're experts on the topic. Like this person,

a great American male. Apparently, you don't know what undisputed means, referring to me. Sure, the appraisal says what it says, but the value is disputed. Anyone that owns a house knows that. What? No? What are you talking about? Anyone that owns a house knows that they tell the tax assessor that the value of their house is 100x lower than what the actual valuation is? No. Or how about the fact that Donald Trump was the one who argued for a less valuation than $26 million? Okay, and now this other person goes, no, it's actually assessed at $37 million. That's public record, and the assessment has nothing to do with the value. That's public record. And the assessment has nothing to do with the value. It is historically much lower than the property is worth.

This does not include the fact that it's a very profitable business, not just a building or land. The judge is wrong. It's that simple, says JSGinSFL. I'm just telling you what Donald Trump's people argued, what the valuation is. They're arguing separate valuations to get benefits fraudulently. That's just simply not a thing. That's legal. It's that simple. They're all like this too. A lot of these comments, Ben said, I got a lot of good comments, but I'm just reading you like the consistent ones that criticize me saying it's undisputed that the tax assessor said this. And this person goes, tax appraisal has little to do with real value. No one lost anything over these appraisals. Never has New York City brought a similar case. The banks do their own due diligence and loans contain disclaimer language as to property values. Shame on our

media for letting hacks like James and Ergoron, spelling it wrong, and Goron, fabricate cases against the number one DNC political rival. The DNC is dismantling our constitutional republic. And you see how this disinformation is just spread throughout the right wing like this very, very quickly. The judge just simply said, here's the tax appraisal. Here is what Donald Trump's paying in taxes. Donald Trump is engaged in a scheme to avoid the payment of taxes by deflating the valuation here, inflating the valuation here.

And then basically the market, we don't do that. You don't do that. So he's cheating. And in our free market system, you're not supposed to cheat like that and lie like that to gain all of these unfair advantages over everybody else who's reporting honestly in government records and in government documents and in documents to take out loans. It is a serious damage that occurs to the market. It is fraud. And that's what Judge N'Goran said. Judge N'Goran said, you can't just lie on everything and say, the Saudis will bail me out. You can't say that. And again, that's not like a normal thing. You go, oh, the Saudis are going to just help me. No, that's the issue, folks. I wanted to break it

down what this whole situation is here. And I hope you understand it in a better light right now. What the valuation is of Bar-a-Lago, why it's there, what the records show, the historical preservation encumbrances that are put on the property, why it was always the valuation was argued by the Trumps to be less as a way to avoid paying taxes. And then they would go to the lenders and say, ah, now it's $627 million. We want to take out a loan on a property that we just fought to decrease the value of the property and the valuation because we want to pay less taxes. And ultimately, like, Eric, if you claim it was a billion, I guess here's my final point.

For all of those years, then you would owe about $100 million in taxes if you're saying it had a billion dollar valuation. And if that's what you did over the 10 years, and that was the decision that you made, and you paid $10 million in taxes or so every year, we could be having a different conversation, but that's not what happened. And that's why there's a fraud here. I'm Ben Mycelis from the Midas Touch Network. Hit subscribe. We're on our way to 2 million subscribers. Thanks to your support. Have a great day. Hey, Midas Mighty. Love this report? Continue the conversation by following us on Instagram, at Midas Touch, to keep up with the most important

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