An expert witness took the stand yesterday, claiming that all valuations are inherently subjective.
The judgement? "Valuations, as elucidated ad nauseum in this trial, can be based on different criteria analyzed in different ways," he wrote. "But a lie is still a lie. Valuing occupied residences as if vacant, valuing restricted land as if unrestricted, valuing an apartment as if it were triple its actual size, valuing property many times the amount of concealed appraisals, valuing planned buildings as if completed and ready to rent, valuing golf courses with brand premium while claiming not to, and valuing restricted funds as cash, are not subjective differences of opinion, they are misstatements at best and fraud at worst."