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Trump Ordered To Pay $364 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud

The Mark

The Mark

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www.forbes.com

Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud

Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.
www.forbes.com www.forbes.com

Former President Donald Trump will have to pay $364 million for fraudulently misstating the value of his and his company’s assets on financial statements, a New York judge ruled Friday, levying significant punishments against the ex-president and his business that could hurt him financially and affect his business’ operations.
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New York Attorney General Letitia James sued Trump, his associates—including his sons—and the Trump Organization for allegedly fraudulently misstating the value of assets on financial documents in order to obtain more favorable business deals and reflect a higher net worth for Trump.

Judge Arthur Engoron had already found the defendants liable for fraud by misstating the value of their assets, but held a monthslong trial to determine whether the Trump defendants committed the fraud knowingly and violated laws on falsifying business records, insurance fraud and issuing false financial statements.

Engoron found Trump and his co-defendants liable, ordering Trump personally to pay $354.9 million, while sons Eric and Donald Trump Jr. are each ordered to pay approximately $4 million, and former CFO Allen Weisselberg must pay $1 million.

This story is breaking and will be updated.
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I lost track of this one, can he repeal?

Either way, it's not a good result for him.
 
The Mark said:
www.forbes.com

Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud

Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.
www.forbes.com www.forbes.com




I lost track of this one, can he repeal?

Either way, it's not a good result for him.
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Trump civil fraud trial live updates: Judge fines Trump $354 million​


An appeal is inevitable.

However, it will lock up a good deal of his funds as he won't be able to liquidate anything and probably not make any deals pending the outcome of an appeal.
'

So he's technically grounded, but still free.

It's also a very expensive set back as an appeal will cost millions more and take up thousands of billable hours. This is what they did to Gotti and a a few others, drained his resources while hammering away at the weak spots.

He's dead, but still breathing.
 
I like this
He added: "As detailed herein, this Court now finds defendants liable, continues the appointment of an Independent Monitor, orders the installation of an Independent Director of Compliance, and limits defendants’ right to conduct business in New York for a few years."
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I’m thinking buying Heinz stock yesterday was a good idea.

Let’s all take a moment of silence to honor the walls of Mar a Lago which don’t deserve what is about to hit them (literally)
 
The Mark said:
I lost track of this one, can he repeal?
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He can appeal, but has to put the penalty into escrow, or get a bond for it.

The monitor will stay in place, regardless of the appeal.

I don't know if he can continue to run the company while he's appealing.

It's a state case, so even if he wins in November, he can't pardon himself.
 
HenryChinaski said:
I like this
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"and limits defendants’ right to conduct business in New York for a few years."

OUCH!
Rexedgar said:
If you open your window, you’ll hear the howling………….
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How much would I give to have a recording of Trump's initial live reaction!

He's such a baby....let your imagination run wild and remember....................he has to wear diapers!
 
This was posted less than 15 minutes ago. I thought he was in the NYC courthouse today?

🤷

The Fake News used Artificial Intelligence (A.I.) to create the picture on the top left. These are despicable people, but everyone knows that. The other pictures are me hitting Golf balls today to show the difference. Sadly, in our Country, Fake News is all you get!
https://truthsocial.com/@realDonaldTrump/111942989327699345
 
The judge appears to be fairly tempered in this verdict considering how Trump and his lawyers acted during the trial. They won’t be able to prove he sentenced Trump excessively in retaliation but I’m sure he’s gonna claim he’s a victim of it.
 
Visbek said:
He can appeal, but has to put the penalty into escrow, or get a bond for it.

The monitor will stay in place, regardless of the appeal.

I don't know if he can continue to run the company while he's appealing.

It's a state case, so even if he wins in November, he can't pardon himself.
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Yikes.

Thank you for that summary.
 
Visbek said:
He can appeal, but has to put the penalty into escrow, or get a bond for it.

The monitor will stay in place, regardless of the appeal.

I don't know if he can continue to run the company while he's appealing.

It's a state case, so even if he wins in November, he can't pardon himself.
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Since part of the reason this judgement was made is because he lied about his wealth (or rather the value of various properties, I think?), I have to wonder if he even has $364 million to put in escrow.
 
Rexedgar said:
This was posted less than 15 minutes ago. I thought he was in the NYC courthouse today?

🤷

The Fake News used Artificial Intelligence (A.I.) to create the picture on the top left. These are despicable people, but everyone knows that. The other pictures are me hitting Golf balls today to show the difference. Sadly, in our Country, Fake News is all you get!
https://truthsocial.com/@realDonaldTrump/111942989327699345
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Lol @ "artificial intelligence".
 
gbg3 said:
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
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I'm sure he'll miss paying New York's outrageous liberal income taxes. How many millionaires, billionaires and companies have moved from that weenie state in the past few years?
 
gbg3 said:
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
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Depending on how this ends up, after whatever repeals occur, that might be good for New York.

If, as seems likely to me, the result is that Trump is fined and barred from operating businesses in the state because he and his staff knowingly committed fraud, that sounds like the kind of business practices you don't want operating in your state.
 
The Mark said:
www.forbes.com

Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud

Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.
www.forbes.com www.forbes.com




I lost track of this one, can he repeal?

Either way, it's not a good result for him.
Click to expand...
This is ridiculous. Even if he were guilty the finding is excessive and based on a judge's hatred for Trump. However, if I'm thinking of the right trial, Trump's defense presented multiple witnesses, experts in the real estate field and in banking that said Trump didn't do anything wrong. They supported Trumps claim there were no victims, Trumps valuation of the property didn't appear out of line when them, they all got paid their loans back, and in the paperwork when Trump asked for the loans he recommended that the lender do their own valuations. This really is a BS decision by a corrupt justice system. At any rate I'm certain Trump will appeal and this will drag on longer.
So now democrats can claim he's been convicted of something. Sorry state our politics has come too. Using corruption in justice system to interfere in elections.
 
The Mark said:
Depending on how this ends up, after whatever repeals occur, that might be good for New York.

If, as seems likely to me, the result is that Trump is fined and barred from operating businesses in the state because he and his staff knowingly committed fraud, that sounds like the kind of business practices you don't want operating in your state.
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Yeah, sure. Did any of the sorry proseutors go after democrats doing the same thing? Nope. It's a Trump thing.
 
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