Trump just got hit with a $364 million fine in his New York bank fraud trial—and the Trump Organization will be “Trump” in name only.
wealth was decimated on Friday when a New York judge ordered him and his lieutenants to pay more than $364 million—before interest—for engaging in, simultaneously yanking away the family’s control of his eponymous real estate company and handing the former president an embarrassing legal defeat.
“Indeed, the common excuse that ‘everybody does it’ is all the more reason to strive for honesty and transparency and to be vigilant in enforcing the rules. Here, despite the false financial statements, it is undisputed that defendants have made all required payments on time; the next group of lenders to receive bogus statements might not be so lucky. New York means business in combating business fraud,” he wrote.
“Her observations over the past 14 months indicate that still more oversight is required,” Engoron wrote, extending her monitorship for at least another three years.That means the Trumps may not even have the authority to shift around money to fight this massive court order without asking Jones for her approval.
Friday’s conclusion marked a stunning defeat for the boastful business mogul. The 92-page order struck at the source of Trump’s pride, a company he led and grew for half a century—one that allowed him to transform his glittering entrepreneurial image in the 1980s city tabloids into a popular network TV show withThe AG’s triumph was all but certain.
In his order, Engoron eviscerated the Trumps’ attempt to blame their accountants at trial, writing that “the buck for being truthful in the supporting data valuations stopped with the Trump Organization, not the accountants.”, the law is not concerned with trifles. Neither is this Court. But that is not what we have here,” he wrote. “The frauds found here leap off the page and shock the conscience.”and declined to permanently ban Trump from the real estate industry.
Trump can’t even rely on misappropriating MAGA donor funds that he keeps collecting in his bid for the 2024 Republican presidential nomination. The Save America political action committee alreadyon lawyers and lawsuits in the second half of 2023, draining his coffers to protect him from this case and the ongoing criminal prosecutions in
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