>> JOINING US NOW SOMEONE WHO IS VERY FAMILIAR WITH THE PROSE OF
SUING DONALD TRUMP, HOW HE RUNS HIS BUSINESS, ADAM LEITMAN
BAILEY IS A NEW YORK REAL ESTATE ATTORNEY WHO SUED THE FORMER
PRESIDENT SEVEN TIMES WHEN HE WON A SETTLEMENT FOR 30 PEOPLE WHO
WERE MISLED WHEN THEY BOUGHT APARTMENTS IN TRUMP'S SOHO
BUILDING. SO I THINK WHAT IS KEY HERE FOR
FOLKS TO UNDERSTAND IS WHAT IS THE PATTERN, RIGHT?
THE CASES THAT YOU DEALT WITH AND THE CASES WHERE WE'RE SEEING
HERE, FOR INSTANCE, THE FIGURE THAT JUMPED OUT TO ME OVER
VALUING HIS MAR-A-LAGO ESTATE BY TEN TIMES WHICH HE THEN USED TO
GAIN LOANS FROM PUBLIC COMPANIES THAT ARE OPENED BY SHAREHOLDERS,
RIGHT. I DECEIVED THEM TO DO SO.
WHAT IS THE PATTERN OF HOW HE RUNS HIS BUSINESS IN THIS WAY
AND WHAT IS WRONG WITH THAT, LEGALLY AND FINANCIALLY?
>> SO, FIRST OF ALL, THERE IS NO -- THE SIMILARITY BETWEEN THE
CASE THAT I WON GETTING EVERYTHING MY CLIENTS WANTED AND
THIS CASE IS THAT TRUMP LIES. EVERYONE IN THE UNIVERSE KNOWS.
THEY DIDN'T KNOW IN 2011 WHEN THEY STARTED THE TRUMP SOHO CASE
BUT THEY KNOW NOW THAT TRUMP DOESN'T TELL THE TRUTH.
AND THIS FRAUD AND THIS 225-PAGE COMPLAINT, WHERE THERE IS
HUNDREDS OF ALLEGATIONS OF FRAUD, IS IT FRAUD UNDER NEW
YORK LAW? AND THAT IS WHERE THERE MAY BE
SOME PROBLEMS IN THE LAWSUIT. I'LL GIVE YOU THE FIRST PROBLEM.
TO COMMIT FRAUD IN NEW YORK, YOU HAVE TO BRING IT WITHIN SIX
YEARS. AND IF YOU GO BACK SIX YEARS,
THE DAY HE BECAME PRESIDENT HE WASN'T IN CHARGE OF HIS OWN
AFFAIRS. SO LETITIA JAMES HAS A BIG
PROBLEM PROVING FRAUD AGAINST THE FORMER PRESIDENT, NUMBER
ONE. NUMBER TWO, THE BANKS -- I
REPRESENT BANKS. BANKS DO NOT CARE WHAT DONALD
TRUMP THINKS HIS PROPERTIES ARE WORTH.
WHAT HAPPENS IS THE BANKS HIRE THEIR OWN APPRAISERS, THEIR OWN
PROFESSIONALS AND THEY ASK FOR DOCUMENTS FROM DONALD TRUMP AND
THE MAIN THING THEY ASK FOR, THE NUMBER ONE DOCUMENT THEY WANT
IS -- ARE TAX RETURNS. AND THEY'RE LOOKING AT TAX
RETURNS AND FROM THE ACCOUNTANTS AND THEY ARE SAYING WHAT KIND OF
MONEY ARE THE BUILDINGS MAKING. AND WHAT -- WHEN YOU READ THE
COMPLAINT YOU'RE GOING TO SEE, AZORES, THE ACCOUNTANT, WE NO
LONGER AGREE WITH WHAT WE WROTE. SO THEY SHOULD GO AFTER THE
ACC ACCOUNTANTS.
AND THEN THE SECOND THING THEY LOOK AT IS THE APPRAISERS.
WHO PICKS THEM? THE BANKS.
CUSHMAN AND WAKEFIELD IN THIS CASE AND THE BANK RELIES ON
THEIR APPRAISER. SO WHAT HAPPENED WAS THE -- THE
BANKS PICKED THEIR APPRAISER AND THE DONALD TRUMP DOESN'T AGREE
WITH THE EVALUATION AND HE PICKS HIS OWN AND THEY GO BACK AND
FORTH. NOW IS THERE FRAUD CA--
>> CAN I JUMP IN ON THAT. HERE IS WHAT HE SAID ABOUT THIS
LAST NIGHT. HERE HE WAS.
>> YOU CAN'T JUST SAY HERE IS A FJ STATEMENT.
BUT HERE IS A FINANCIAL STATEMENT BUT BE CAREFUL BECAUSE
IT MAY NOT BE ACCURATE, IT MAY BE WAY OFF, WE GO -- THINK IT IS
CLOSE TO A PAGE AND A HALF OF ALL OF THESE THINGS, GET YOUR
OWN PEOPLE. USE YOUR OWN APPRAISERS.
USE YOUR OWN LAWYERS. DON'T RELY ON US.
>> DOES THAT SHIELD HIM? >> SO, HE USED -- HE USES --
RIGHT, WHAT HE'S DOING IS THE BANKS USE THEIR OWN PEOPLE AND
THEY SAY TO TRUMP, YOU WANT TO TAKE MORE MONEY, YOU WANT US TO
LEND YOU MORE MONEY, USE YOUR OWN PEOPLE AND HE DID THAT.
BUT HE DIDN'T DO IT HIMSELF. HE DIDN'T HIRE -- HE DIDN'T SAY
I'M DONALD TRUMP I'M GOING TO GO APRAISE IT MYSELF AND HE HIRED
EXPERTS AND THOSE EXPERTS HE'S RELYING ON.
ARE THEY GOING TO RISK THEIR LICENSE AND COME OUT AND SAY I
LIED. I COMMITTED FRAUD AND I MADE UP
NUMBERS? >> YEP.
>> ADAM, I HAVE TO ASK YOU, THOUGH.
>> THAT IS HOW HARD THIS LAWSUIT IS FOR HIM.
>> IS DOES THAT MEAN YOU COULD WHEN YOU TAKE OUT A LOAN.
MY HOUSE IS WORTH A BILLION DOLLARS AND LEND ME MORE MONEY.
I ASKED PAUL CALHAN THIS QUESTION LAST HOUR AND HE SAID
THAT THERE IS SOMETHING WRONG WITH SUBMITTING DECEPTIVE
DOCUMENTS. ARE YOU SAYING THERE ISN'T, OR
IS THERE ISN'T FOR SOMEONE WITH A GOOD ENOUGH LAWYER?
>> NO, IT IS NOT THAT EASY. DONALD TRUMP HAS TO FIND SOMEONE
TO LIE FOR HIM. A REPUTABLE APPRAISAL COMPANY
AND A REPUTABLE ACCOUNTANT TO DO THAT.
I'M NOT ABLE TO DO THAT. YOU'RE NOT ABLE TO DO THAT.
I CAN'T FIND AN ACCOUNTANT TO LIE FOR ME, I'M NOT ABLE TO DO
THAT. MAYBE DONALD TRUMP IS SO
PERSUASIVE. THERE IS ONE CAVEAT TO THIS.
WHEN THE APPRENTICE WAS GOING ON, DONALD TRUMP WAS ONE OF THE
MOST FAMOUS MEN IN AMERICA AND HE HAD A BRAND PERCEPTION AS
REFERRED TO IN HIS LAWSUIT. AND HOW MUCH IS A BRAND
PERCEPTION WORTH AND HIS VIEW IS BECAUSE I'M SO FAMOUS, MY
PROPERTIES ARE WORTH MORE. SO THAT IS A HARD CASE TO PROVE
FRAUD WHEN HE SAID IT IS AN OPINION THAT MY PROPERTIES ARE
WORTH MORE BECAUSE I'M SO FAMOUS AND THAT MAKES A VERY DIFFICULT
CASE FOR HER TO WIN. NOT THAT SHE WON'T WIN.
IT JUST MEANS IT WILL MAKE A DIFFICULT CASE.
>> THANKS FOR HELPING US WRAP OUR HEADS AROUND THIS.
>> THANK YOU FOR HAVING ME.