The judge's ruling bars former President Donald Trump from conducting business in New York for three years. Trump has vowed to appeal.
  • Trump and his company fined $354 million for fraud
  • Trump barred from running a New York business for three years
  • Trump vows to appeal the verdict
  • Nobody@lemmy.worldEnglish
    32·
    10 months ago

    New York has a 9% interest rate on judgments , so the real number is going to be even higher before it’s all said and done.

    • Auzy@beehaw.org
      7·
      10 months ago

      Probably not many. The guy has a bad rep amongst lawyers already apparently. And a really bad lawyer I’m guessing could make things worse as more evidence is uncovered if appealing.

      From my understanding, even if he appeals, the money still needs to be put aside and isn’t accessible. So it’s actually good if he appeals, because it will cost him and crap right wing Lawyers more money

      Appealing at the court won’t keep him out of jail either

  • AutoTL;DR@lemmings.worldBEnglish
    42·
    10 months ago

    This is the best summary I could come up with:

    “Every member of the New York business community, no matter the industry, should be gravely concerned with this gross overreach and brazen attempt by the attorney general to exert limitless power where no private or public harm has been established.”

    Trump and his legal team long expected a defeat, with the former president decrying the case as “rigged” and a “sham” and his lawyers laying the groundwork for an appeal before the judgment was even issued.

    Even before Friday’s ruling, the judge had largely affirmed James’ allegations that Trump and others at his company inflated valuations of his properties by hundreds of millions of dollars over the course of a decade, and misrepresented his wealth by billions.

    The trial, which began in October and wrapped up in January, focused on other aspects of the lawsuit related to alleged falsification of business records, issuing false financial statements, insurance fraud and conspiracy.

    The lawsuit laid out seven causes of actions — the claims of illegal conduct that James’ office said entitled the state to claw back ill-gotten profits and warranted severe sanctions against the defendants:

    Engoron agreed in September with James’ office that it was beyond dispute, based on evidence presented through pretrial filings, that Trump and his company provided banks with financial statements that misrepresented his wealth by billions.

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