‘A Rigged Trial’ Judge Orders Trump, Executives to Pay More Than $350 Million
This judge — who infamously declared Trump guilty before the trial had even started — proved this was all an attempt to tie up Trump and punish anyone who is associated with him. No bank or any other entity lost money due to fraud, so where is the crime?
New York Supreme Court Justice Arthur Engoron issued a ruling on Feb. 16, ordering former President Donald Trump and Trump Organization executives to pay $355 million in damages, and barring the former president from doing business in the state for three years.
The ruling also modified a previous order to cancel Trump Organization business certificates in a move widely criticized as a “corporate death blow.”
“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,” the judge wrote
“This Court finds that defendants are likely to continue their fraudulent ways unless the Court grants significant injunctive relief.”
New York Attorney General Letitia James brought the case against President Donald Trump and the Trump Organization in September 2022, and the trial began on Oct. 2, 2023.
The judge granted most of what the attorney general had asked for in injunctive relief but, in a major departure from the recommended relief, did not permanently ban President Trump from doing business in New York.
This IMHO was an attempt on Engoron’s part to “prove” he wasn’t biased against Trump from the get-go. — TPR
Trump Organization executives are ordered to pay $355 million with backdated interest.
Wait, what? Trump “overvalued” his holdings and now has to pay taxes –with interest, no less– where the state claims the assets were worth LESS than Trump claimed??? Shouldn’t that be that they owe HIM money? I must be missing something here. –TPR
Former Trump Organization executives Allen Weisselberg and Jeffrey McConney are permanently banned from doing business in New York.
“The evidence is overwhelming that Allen Weisselberg and Jeffrey McConney cannot be entrusted with controlling the finances of any business,” the judge ordered.
Mr. Weisselberg, Mr. McConney, and President Trump are banned from serving as an officer or director of any New York corporation or legal entity for three years. Eric Trump and Donald Trump Jr. cannot serve as such for two years.
President Trump and his companies cannot apply for loans from any financial institution chartered by or registered in New York for three years.
This would effectively bar President Trump from doing business in the state for three years.
Former Judge Barbara Jones will continue to monitor the Trump Organization for at least three years and will send a proposal to the court in 30 days outlining what authority she needs to effectively serve as an independent monitor.
Another independent director of compliance will be installed at the Trump Organization, paid for by the defendants, to “ensure compliance with financial reporting obligations and to establish internal written accounting and financial reporting protocols.” Ms. Jones will make a list of recommended persons for the position within 30 days.
Justice Engoron wrote in his order that the ruling is intended to “protect the integrity of the financial marketplace and, thus, the public as a whole.”
He added that ongoing monitorship is necessary because the defendants have testified they do not believe changes need to be made.
Ms. James issued a statement on the ruling through a series of X, formerly Twitter, posts outlining the penalties.
“Today, justice has been served,” she wrote in her last post
. “This is a major win for everyone who believes that we must all play by the same rules. No matter how big, how rich, or how powerful you are, no one is above the law. Not even Donald Trump.”
President Trump also posted a lengthy social media statement, and then called a press conference in front of his Mar-a-Lago residence.
“This ‘decision’ is a Complete and Total SHAM,” he wrote. “There were No Victims, No Damages, No Complaints. Only satisfied Banks and Insurance Companies (which made a ton of money), GREAT Financial Statements, that didn’t even include the most valuable Asset – the TRUMP Brand, IRONCLAD Disclaimers (Buyer Beware, and Do you Own Due Diligence), and amazing Properties all over the World.”
No Cancellation of Business Certificates, For Now
The judge vacated his September 2023 order to cancel the Trump Organization business certificates, and decided instead that this penalty could be applied later at the recommendation of the monitor or “based on substantial evidence.”
Again, this, IMHO, was an attempt on Engoron’s part to “prove” he wasn’t biased against Trump from the get-go. — TPR
“Going forward there will be two-tiered oversight, an Independent Monitor and an Independent Director of Compliance, of the major activities that could lead to fraud, cancellation of the business licenses is no longer necessary,” the judge ordered.
These are outsiders (and certainly anti-Trump) — which Trump has to pay for — whose sole goal is to hamstring Trump businesses as much as possible. — TPR
“The restructuring and potential dissolution of any LLCs shall be subject to individual review by the Court appointed Independent Director of Compliance in consultation with Judge Jones.”