Global real estate firm lied and broke its own rules to help Trump Organization inflate assets: judge

On Wednesday, The Daily Beast reported that a state judge in New York has determined that Cushman & Wakefield, a global real estate corporation, lied and broke its own internal policies to help the Trump Organization inflate the value of its assets to fraudulently secure better loan deals.

"Judge Arthur F. Engoron’s surprising assertions were included in his court order on Wednesday, in which he formally directed Cushman & Wakefield to turn over documents to the New York attorney general’s office," reported Jose Pagliery. "New York Attorney General Letitia James is investigating the Trump Organization over what prosecutors have determined to be a long-running pattern of hyping the value of golf resorts and buildings in California and New York, as part of a scheme to commit bank and insurance fraud."

"In court on Monday, the AG’s attorneys detailed how their investigators had caught Cushman & Wakefield employees lying in ways that would benefit the Trump Organization," said the report. "Assistant attorney general Austin Thompson laid out how the firm’s appraisers routinely abdicated their responsibilities and just defaulted to whatever the Trump company and its outside lawyer, Sheri Dillon, wanted from them. He cited two instances in Los Angeles and Seven Springs when appraisers claimed they created value assessments that factored in planned real estate development timelines — except the appraisers just filled in the blanks as they were told."

Earlier this week, the same judge held former President Donald Trump himself in civil contempt for refusing to produce documents subpoenaed by James. Trump has moved to appeal this decision, which could fine him $10,000 per day he remains out of compliance.

It is unlikely that the order will result in Trump being sent to jail, although experts have said it is possible in extreme circumstances.

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