@hana laguna je v podstatě taková přehrada, ale moc pěkná se stezkou vedle pro procházky. #Dovolena #Rhodos #SevenSprings
#sevensprings — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #sevensprings, aggregated by home.social.
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Dnešní den na #Dovolena na ostrově #Rhodos jsme navštívili udolí sedmi pramenů, je místo s malými mokřady v zalesněné oblasti poblíž Archangelos na východě ostrova. Je to tady moc krásné. Příjemné lesy, prameny tvoří malou říčku, která pomocí náhonu teče skrz tunel do velké laguny za kopcem. Tunel s náhonem je dlouhý 150 metrů a je v nejvyšším bodě cca 7 metrů hluboko. #SevenSprings ⤵️ s @hana
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Got lien?
Interactive map shows #GIS tax parcels in New York State that are assessed to Seven Springs LLC. This is the Trump family compound.
It is widely reported that New York Attorney General Letitia James has filed paperwork placing liens on this property due to the financial fraud money judgment against Trump.
#SevenSprings #SevenSpringsLLC #KissItGoodby -
"Those homes will sell for a tremendous amount of money, they're on the North Sea,"
(FYI These are *potential* homes, recall #SevenSprings)
Trump: “It's...like a painting, you can pretty much do what you want to do, the land is there”
Trump says even if the financial statements were off, it wouldn't matter.
"I'm worth billions of dollars more than the financial statements. So anything that would be a little bit off…. -
#NYAG: “Is the #SevenSprings [conservation] easement donation under review by the #IRS?"
#Trump: “Not that I know of. Again, I haven't spent a lot of time looking at these statements because their value (is low)”
Next topic, value of a joint venture w/real estate investment firm Vornado, involving one bldg in NYC & another in Cali.
Trump had a 30% stake, which he valued at >$800M.Trump: “And excuse me [but] the buildings have been refinanced, 2 yrs ago”
NYAG: “There's no question pending”
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#Trump: “The number was too high. They lowered it after that. I thought it was too high. I don't know what's too high any more."
But then Trump claimed that it wasn't "too far off" when you add rooftop access."They took 10k feet per floor, & they went times three. But they didn't take out elevator shafts & different things."
NYAG then moved on to the 2014 evaluation of Trump's #SevenSprings estate.
Trump valued it at $291M. Trump says HE decided to drop the value: “I thought it was high."
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#NYAG asserted #Trump's ~2016 #valuation of #SevenSprings for $291M was inflated. A #CushmanWakefield Dec 1, 2015 #valuation of the whole property (not just the easement) was $56.5M.
NYAG directly asked Eric to concede that the part of his video deposition when he stated, “I really haven't been involved in appraisal work on the property” was inaccurate:
"Will you concede that your #testimony was incorrect, yes or no?"
#EricTrump: "I don't focus on appraisals between a law firm & Cushman”
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#NYAG: “So you stand by your #testimony at your #deposition that you hadn't been involved in #appraisal work at the #SevenSprings property?
#EricTrump: “I was clearly involved in small points”
(Huh, that right Eric?)
NYAG notes the part of Eric's depo in which he says "I really haven't been involved in the appraisal process. …I don't focus on appraisals between a law firm & Cushman. …These are emails from 10 yrs ago. I don't know the person's name."
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This is when the whole “we’re gonna build luxury homes on the property” stuff was floated.
Gee I wonder why?
It’s not like the appraiser said the #SevenSprings easement property was only worth $12.5k & then imaginary homes that cost (an also imaginary) $23M each are suddenly in the mix & boost the property’s value up $161M.
& then #Trump DONATED THE PROPERTY AT THAT TOTALLY IMAGINARY VALUATION FOR A HUGE TAX BREAK!
& THEY NEVER BUILT THE HOMES!
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#NYAG showed #EricTrump’s email exchange w/ #CushmanWakefield appraiser David McArdle, who testified earlier (attached).
(This is also indirectly addressed in Eric’s video deposition where he claimed he didn’t know McArdle 🙄)
NYAG asked Eric if he now agreed that the Cushman 2014 #valuation of #SevenSprings was disregarded for the purpose of (to bolster) #Trump's #SFC.
Eric: "No, the exercises are apples & oranges, one has nothing to do w/the other.”
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NYAG continued w/ 2014 discussions re #SevenSprings' valuation.
In an Oct 2014 email, #SherriDillon discussed termination of Cushman & Wakefield’s engagement.
#EricTrump: "I have very little recollection of all of this.”
NYAG questioned Eric re the 71 units that were never built.
This was well covered on Day5 of this TrumpTrial during McConney’s testimony here’s my thread from then:
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#NYAG asked whether #EricTrump recalled if the #SevenSprings appraisal was “preliminary” or not.
(Paraphrasing) Eric: you would have to ask the #TrumpOrg's fmr outside counsel Sherri Dillon, who was "much closer to the process."
NYAG, making clear that Eric is who is on the stand, said: “There's a lot of people I could ask," then asks Eric again.
Eric: “I don’t recall.”
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#NYAG showed a 2013 email from #JeffMcConney to #EricTrump in which McConney tell Eric he needs the value for the #SevenSprings estate in Westchester County, NY.
NYAG questioned Eric about speaking to someone from Cushman & Wakefield in 2014 about the appraisal process.
Eric testified he remembered speaking to someone from the firm about it.
(Eric repeatedly has avoided yes or no answers to questioning.)
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The #NYAG moved on to #SevenSprings & the processes to acquire its conservation #easement.
#TrumpOrganization engaged real estate firm #Cushman&Wakefield to do its appraisal.
We heard previous testimony from Cushman & Wakefield re #EricTrump’s involvement.
"Eric Trump was deeply involved in this process, taking the lead on the Seven Springs property w/in his family & the #Trump Org. At various times from 2011 to 2016, Eric Trump spent time living at the property & repeatedly met w/town ofcls”
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#NYAG shows an Aug 20 2012 email in which #JeffMcConney tells Eric he's working on #Trump #SFCs & needs #valuation info on #SevenSprings.
NYAG: "He's asking for your assistance in 2013”
#EricTrump: "Yes.” Eric adds he gave info on project statuses to McConney.
NYAG: "Mr. Trump it is an undeniable fact, is it not, that as of Dec 4, 2012... you did know that your father had an annual financial statement (which) was used to show your father's financial wherewithal?"
Eric: "it's just incorrect."
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Thread by @Nonilex
The $161M for the 7 planned homes, which was baked into the #SevenSprings #valuation, was never discounted for the yrs it would take to build them, the cost of marketing/building/etc.
Yikes: The homes were Never Built
#Trump #TrumpTrial #law #fedilaw #fraud -
🚨🚨 Instead, #McConney treated the profit of $23M per home as if it were immediately realizable in 2012.
In 2013 & 2014, the #valuation for the 7 homes was done exactly the same way. He also wrote in his spreadsheets that the valuations were based on telephone calls in each of 2013 & 2014 w/ #EricTrump, who confirmed he should continue to #value the planned homes at #SevenSprings in the same way.
(Yikes)
The homes were NEVER BUILT.
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🚨🚨#McConney testifies that he understood the concept of #TimeValue (the value of a dollar today is worth more than the value of a dollar in the future) & that discounts should be applied to arrive at a present #value if money is going to be paid in the future.
The $161M for the 7 planned homes, which was baked into the #SevenSprings #valuation, was never discounted for the yrs it would take to build them, the cost of marketing/building/etc.
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Back to #McConney #witness / #defendant #testimony:
#NYAG #Amer delves into a flagrant instance of #fraudulent #valuations.
#Trump’s #SevenSprings estate planned to build 7 mansions on the property valued at $23M each.
McConney confirmed that in 2012, #EricTrump was involved w/the development of the #Westchester, NY, property & that he (McConney) assumed all necessary approvals were obtained prior to build.