Trump & Co liable for fraud - Judge rules

[spindle92]

$355 million!

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www.cnn.com/politics/live-news/trump-civil-fraud-trial-decision-02-16-24/index.html

Judge Arthur Engoron has issued a ruling in Donald Trump’s’ New York civil fraud trial.

New York Attorney General Letitia James is asking for $370 million  from Trump and the co-defendants in disgorgement – or ill-gotten gains, alleging he filed fraudulent financial statements that allowed him to obtain loans and insurance policies at more favorable rates.

The case goes to the heart of Trump’s image as a successful billionaire and includes accusations of fraud regarding his Trump Tower apartment, Mar-a-Lago estate and several golf courses, among others.

Engoron has already ruled that Trump and his co-defendants engaged in fraud and ordered the cancelation of any business certificates they hold in New York, an action that is on hold pending Trump’s appeal.

[pixy0stix]

NYT article added that he is barred from running a business in NY for 3 years.

I was hoping for more, but I'll take it.

ETA to add gift link - Trump Ordered to Pay $355 Million and Barred From New York Business www.nytimes.com/2024/02/16/nyregion/trump-civil-fraud-trial-ruling.html?unlocked_article_code=1.V00.-3xP.VFZ7Ozs_TKBB&smid=nytcore-android-share

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Per CNN

Donald Trump’s adult sons, Don Jr. and Eric, were ordered to pay $4 million each after Judge Arthur Engoron found them liable for multiple fraud counts.

[Susie]

Get it, Tish James!  As a NY voter and supporter of her for AG (I actually did not want her for governor because I didn't want her to set down what she was doing as AG), it so so so satisfying to watch this play out.

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James just gave a press conference...Apparently interest begins and continues to accrue until paid in full.

[ellipses84]

Hmmm, maybe someone barred from being an officer or director of a NY corporation should not be eligible to be president in the next three years either. Can you imagine if this were any other presidential candidate from the last few decades? They wouldn’t even be considered to have a chance and this is just one of many indictments and rulings.

“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. The ruling will not render him bankrupt, because most of his wealth is tied up in real estate.”

I saw another article yesterday about some hotelier giving him millions for legal fees and his campaign, but it’s really just a drop in the bucket compared to this.

I’m also reading These are the Plunderers about private equity and it goes into detail about some NYC businessmen who associated with Trump and Epstein. CE&P recommended reading!

[pixy0stix]

Per NBC there's already $96 (maybe $98?) Million in interest already owed on top of today's ruling.

ETA - $98.6M (my math dyslexia got in the way, lol!)