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Undervaluing and overvaluing property is a longstanding practice in New York realestate. Yet, the New York law used by James is a curiosity because it does not actually require a victim. For example, in 1996, the justices limited state-awards of punitivedamages under the Due Process Clause of the Fourteenth Amendment.
That may be a common practice in New York realestate, but it is not a good practice. Gore , striking down a punitivedamage award. The case involved the practice of the company to repair and repaint cars damaged in transit without telling the customers. In the Trump case, the banks made money.
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