Trump Fraud Trial Penalty Will Exceed $450 Million

[lost in melb.]

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 nearly $355 million plus interest 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.

Justice Engoron barred Mr. Trump for three years from serving in top roles at any New York company, including portions of his own Trump Organization. He also imposed a two-year ban on the former president’s adult sons and ordered that they pay more than $4 million each. One of them, Eric Trump, is the company’s de facto chief executive, and the ruling throws into doubt whether any member of the family can run the business in the near term.

The judge also ordered that they pay substantial interest, pushing the penalty for the former president to $450 million, according to the attorney general, Letitia James.

In his unconventional style, Justice Engoron criticized Mr. Trump and the other defendants for refusing to admit wrongdoing for years. “Their complete lack of contrition and remorse borders on pathological,” he said.

He noted that Mr. Trump had not committed violent crimes and also conceded that “Donald Trump is not Bernard Madoff.” Still, he wrote, “defendants are incapable of admitting the error of their ways.”

Mr. Trump will appeal the financial penalty but will have to either come up with the money or secure a bond within 30 days. The ruling will not render him bankrupt, because most of his wealth is in real estate, which altogether is worth far more than the penalty.

Mr. Trump will also ask an appeals court to halt the restrictions on him and his sons from running the company while it considers the case. In a news conference from his home in Mar-a-Lago on Friday evening, he attacked Ms. James and Justice Engoron, calling them both “corrupt.”

Alina Habba, one of Mr. Trump’s lawyers, described the ruling in her own statement as “a manifest injustice — plain and simple.” She added that “given the grave stakes, we trust that the Appellate Division will overturn this egregious verdict.”

etc....

https://www.nytimes.com/2024/02/16/n...al-ruling.html

[lost in melb.]

I can't believe:

-the extent of the fraud. Some valuations up to three times value or size.
-the fact that anyone had the courage to charge him at all.

[FBD]

I CAN believe that you are being blind to another miscarriage of justice because the MSMs told you trump was le debil

right to appeal is literally in the bill of rights and this asshat judge cant make up a fantasy number trump has to pay before he's allowed to appeal

you have 0 clue about the law or justice in the USA, rando judges cant just declare shit like that that's completely odious to the constitution

(oh but this rando judge can in Corporate America est 1871 as I have explained previously, because the corp can decide how it enforces its bylaws however it pleases, this is the only mechanism whereby such offenses as Social Security, Obamacare, Patriot Act, were ever implemented without immediately getting shot to shit by a real lawful review)

I don't even care about lost money. I care about how the fuck some random schmock can come out of the woodwork, say mar a lago is only worth 18 million dollars (which would it make one of the cheapest properties in that area) and the judge just takes his word for granted, ignoring all other appraisals and evaluations of the property.

Trump evaluated mar a lago at 1 billion dollars himself, the bank evaluated it as well and they found some middle ground to use it as collateral for a loan. The fucking DA hired some corrupt property evaluation and they came up with the number. Trump earns fucking 20 million+ a year from it, so they effectively said his property is worth less than its yearly income.

Its amazing how some folks never read all the details about these things and charge forward as if there's actually something there