The judge’s ruling in Donald J. Trump’s civil fraud case could cost him all his available cash. It also bars the former president from running a business in the state for three years.
I actually consider this a very big win for Trump.
Literal decades of fraud that netted him billions in profits and he only has to pay back $300 million.
Little decades of fraud, and he's only banned from being an officer or director for 3 years. He gets to keep everything else.
Once again a very rich person got away with decades of crimes and only had to give back a portion of the profits. $355 million is only a small portion of the money he has made in the past four decades.
Guy should have been forced to cough up the full 375, and then permanently banned from doing any more businesses in the state. Anything else is a gift.
I know Trump has done a lot of illegal stuff to make money over the years, but this trial is specifically about the over valuing of his properties in New York state. $300 million and loss of owning and operating businesses in the state, even temporarily, is a huge punishment for what he was on trial for.
If only his many other trials end the same way then maybe he will have faced justice. We'll have to see.
I'm no expert by any means but I think once he's kicked out of NY, it's going to be pretty difficult for him to get back in.
He also has the court appointed monitor for the next 3 years which he already complained is costing him money (by stopping him from committing more fraud).
On top of that, banks will think twice before doing business with him in the future making it very difficult for him to make money without risking what he already has
While I agree that it should have been much more, I think (well more of a hope) that the long term damage this will do will cost him and his family far more than if he never committed fraud in the first place... Then again, he's shown an amazing ability to avoid consequences this far
He hasn't really been kicked out, though. Has he? He's banned from "serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years" but the business certificates were not cancelled. The judge modified his original order from September to vacate the directive to cancel them. That means that when the monitor, who Trump is paying about $186,000/month, is done in three years, he'll be back in control of it all.
I think the issue is that the prosecuter was unable to show that anyone was harmed from this fraud, and no company has been dissolved without showing direct harm to consumers in the past.
it says a lot about the political coverage in the media and half of the voting population, but I'm not sure it says something about all of us. some of which were raising alarms and flags for 50 years (I'm not that old but I know people that were) and were ignored. sometimes intentionally.
In Norway, we have had a wave of politicians leaving their minister posts or other high positions due to tax evasion on use of governmental appartments, small incidents of inside trading and lack of citations/plagiarism on their master thesis. It all seems so small nd innocent comparred to what Trump has done while still running strong for his party.
Your dad is correct but what he's either leaving out or failing to realize is that he's more corrupt than other politicians. He isn't like them because he's worse.
And only banned from serving as an officer or director. Engoron cancelled the dissolution order, so he keeps his real estate holdings and his ownership interests.
In his unconventional style, Justice Engoron criticized Mr. Trump and the other defendants for refusing to admit errors for years. “Their complete lack of contrition and remorse borders on pathological,” he said.
In many US buildings they will skip the 13th floor. Some actually build the thing, and make it unusable to anyone except maintenance, but many literally label the 13th floor as the 14th floor. Superstitious nonsense.
As an European I had to convert this and... 10996 square feet is absolutely MASSIVE and I don't mean just for an apartment in a tower in NYC either. It's massive for a house in the countryside.
Republicans: “man, I just can’t think of a better candidate than this convicted fraudster. He can defraud the world and make America great again, again, again.”
The financial penalty reflects those lost profits, with nearly half of the $355 million — $168 million — representing the interest that Mr. Trump saved, and the remaining sum representing his profit on the recent sale of two properties, money that the judge has now clawed back from Mr. Trump and corporate entities he owns.
Could this ruling result in criminal charges or are there already proceedings underway in this matter? I mean, the judge has determined that Trump is personally responsible for fraud amounting to several hundred million dollars, right? Accordingly, he himself is banned from doing business in the state of New York for the next three years, which makes it clear that Trump himself has been found to have committed fraud. But is that all? Fraud on this scale must also be criminally relevant, mustn't it? Or is it really possible in the USA to get off the hook simply by paying a fine, even for such serious criminal misconduct?
Well, there wouldn't have been prison in any case from this trial, as it was a civil suit, not a criminal one. But, he is facing 91 felony charges in total spread across a few cases that are currently working their way through the court, so maybe. Probably not. But maybe.
Sure. He has 30 days to write a 350 million dollar check as payment or appeal bond.
Edit : Opps. The judgment was $354.9 million, but there's been $98.6 million of pre-judgment interest, meaning the actual total Trump alone owes is $453.5 million.
A New York judge on Friday handed Donald J. Trump a crushing defeat in his civil fraud case, finding the former president liable for conspiring to manipulate his net worth and ordering him to pay a penalty of more than $350 million that could wipe out his entire stockpile of cash.
The decision by Justice Arthur F. Engoron caps a chaotic, yearslong case in which New York’s attorney general put Mr. Trump’s fantastical claims of wealth on trial.
With no jury, the power was in Justice Engoron’s hands alone, and he came down hard: The judge delivered a sweeping array of punishments that threatens the former president’s business empire as he simultaneously contends with four criminal prosecutions and seeks to regain the White House.
Not only did Justice Engoron impose a three-year ban preventing Mr. Trump from serving in top roles at any New York company, including his own, but the judge also applied that punishment to the former president’s adult sons for two years.
Mr. Trump will appeal the financial penalty — which could climb to $400 million or more once interest is added — but will have to either come up with the money or secure a bond within 30 days.
Mr. Trump will also most likely ask an appeals court to halt the restrictions on him and his sons from running the company while it considers the case.
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I really want an honest answer from MAGA members that doesn't mention Fox News, Truth Social, Newsmax, or QAnon sources. A well versed, centrally sourced and educated response.