Letters to the Editor: Who are the victims of Trump’s fraud in New York?

To the editor: I am a lifelong registered Democrat, based solely on the majority of major positions taken by the party. I have no sympathy for anyone, Democrat or Republican, who breaks the law. (“How the massive New York business fraud verdict will do real damage to Trump’s empire,” Opinion, Feb. 16)

In the legal cases that former President Trump faces, he should have to pay the penalty, if found guilty, to the full extent of the law, including with prison time for the criminal cases.

Regarding the New York civil trial, I agree with the finding that Trump was liable for lying about the value of his real estate assets in order to get preferred loan rates from several banks. But I disagree with the judge’s order that he pay a $355-million penalty.

Who were the victims of Trump’s fraud?

I was a banker for more than 20 years. My positions included commercial loan officer and vice president. Without exception, for anyone applying for a large loan who shows real estate holdings as a major asset, appraisals are required.

Since the banks in question were paid, I fail to understand who the victims are in this case.

Bob Bergman, Newbury Park

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To the editor: It is disturbing to me that Trump supporters claim that there were no victims in his efforts to defraud financial institutions.

Our economy functions on the availability of credit. The foundation of credit is trust. If we were to follow the Trump business model, our economy would implode.

This man is a leading candidate for president, and he is required to have a monitor to oversee his financial transactions. This makes me more fearful than President Biden’s age.

June Thompson, Los Angeles