This is also effectively the same crime that got Donald Trump a $450 million penalty in the recent New York civil fraud case. To get those five mortgages, mayb

This is also effectively the same crime that got Donald Trump a $450 million penalty in the recent New York civil fraud case. To get those five mortgages, maybe you could just exaggerate the value of the property by 5x? Lenders would think there’s ample collateral, but in fact the property is over-leveraged. Unlike Hwang, Trump’s scheme didn’t blow up and result in massive losses for the banks. But the underlying fraud was the same.