{"id":2178419,"date":"2024-02-16T17:12:04","date_gmt":"2024-02-16T22:12:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-lays-354-million-fine-on-trump-bans-him-from-business-in-new-york\/"},"modified":"2024-02-16T17:15:24","modified_gmt":"2024-02-16T22:15:24","slug":"judge-lays-354-million-fine-on-trump-bans-him-from-business-in-new-york","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/judge-lays-354-million-fine-on-trump-bans-him-from-business-in-new-york\/","title":{"rendered":"Trump fined $354 million, barred from NY business"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjudge-lays-354-million-fine-on-trump-bans-him-from-business-in-new-york%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2178419&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Donald Trump \u2063Ordered \u200bto\u200c Pay $354.9 Million in Fraud Case<\/h2>\n<p>In a \u200cstunning blow to former U.S. President Donald Trump, a New York judge has ruled that\u2062 he\u2064 must pay\u200d $354.9 million in \u200dpenalties for fraudulently overstating his net worth. The ruling comes \u200das Trump faces multiple legal\u2064 challenges \u2063that could jeopardize his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fraud-blm-co-founder-patrisse-cullors-blasted-over-real-estate-buying-binge\/\" title=\"\u2018Fraud\u2019: BLM Co-Founder Patrisse Cullors Blasted Over \u2018Real Estate Buying Binge\u2019\">real estate empire<\/a>.<\/p>\n<p>Justice Arthur Engoron, who\u2062 presided over the contentious three-month trial in Manhattan, delivered a scathing decision that\u200d also prohibits Trump from holding any officer or \u2064director \u200dpositions in New York corporations for\u200c three years. Trump&#8217;s lawyer, Alina Habba,\u2063 has vowed to\u2064 appeal the ruling.<\/p>\n<blockquote>\n<p>&#8220;Their complete lack of contrition and remorse borders\u200b on\u2063 pathological,&#8221; Engoron\u200b wrote. &#8220;Instead, they adopt a &#8216;See\u2063 no evil, hear no evil, speak no evil&#8217; posture that the evidence belies.&#8221;<\/p>\n<\/blockquote>\n<p>The \u2064lawsuit, brought by New York attorney \u200cgeneral Letitia\u2064 James,\u200d accuses Trump and his family businesses of inflating his net worth by\u200d up\u2062 to $3.6 \u2062billion annually over a decade to deceive lenders \u200binto offering more favorable loan terms. Trump, who\u2063 also faces criminal charges in four other cases, has dismissed the lawsuit as a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inspector-general-closes-ethics-probe-into-elaine-chao-angering-dems\/\" title=\"Inspector General Closes Ethics Probe Into Elaine Chao, Angering Dems\">politically motivated attack<\/a> by James, a Democrat.<\/p>\n<p>Habba denounced the ruling as \u2064a\u2064 &#8220;manifest injustice&#8221; and the culmination of \u200ca &#8220;politically fueled witch hunt&#8221; against Trump. She warned that if the decision\u2064 stands, it will send \u200ba message that \u2064New York is no longer\u2062 open for business.<\/p>\n<h3>Severe \u200dPenalties and Restrictions<\/h3>\n<p>In addition to the financial \u2064penalties, Engoron barred Trump\u2064 and his \u2063companies from applying for\u200b loans from any New York-chartered financial institution for three years. This could severely limit Trump&#8217;s access to credit from major \u200dU.S. banks.<\/p>\n<blockquote>\n<p>&#8220;Defendants are likely\u2062 to continue their fraudulent ways unless the court grants significant injunctive relief,&#8221; Engoron wrote.<\/p>\n<\/blockquote>\n<p>The judge&#8217;s decision could have far-reaching \u2064consequences for Trump&#8217;s\u200c real estate\u2063 empire, even as\u2062 he leads the race for the \u2064Republican \u2063nomination to \u200dchallenge Democratic President Joe Biden in the upcoming U.S.\u2064 election.<\/p>\n<p>During the\u200c trial, \u2062Trump&#8217;s\u200c behavior and testimony came under scrutiny. \u200cEngoron\u200d criticized \u200cTrump for his evasive responses and irrelevant\u2063 speeches, stating that they severely compromised his credibility.<\/p>\n<p>Trump may be required\u200d to deposit\u200b the full\u2063 judgment amount plus interest during \u200bthe appeal process. However, finding a\u200d lender willing to provide an appeal bond\u200c could\u2062 prove challenging \u200dafter\u200c Engoron\u2064 found that Trump had lied to banks about \u200chis\u200d wealth.<\/p>\n<p>While estimates \u2062of Trump&#8217;s fortune vary, Forbes values his net worth at $2.6 billion. Trump testified in an April deposition\u2063 that he had approximately\u200c $400 million in \u2063cash. He could potentially sell his \u200cmajority stake \u2062in \u2064his social media app, Truth Social, which is currently valued at around $4 billion.<\/p>\n<p>However, selling parts of his \u200breal estate portfolio to\u200d satisfy the judgment may take time, as the value of his \u200choldings remains uncertain. It \u200cis worth noting\u200c that Trump cannot \u2062use\u200c campaign funds to pay the judgment, \u2063as\u200d the \u200ccase\u2064 is\u2063 unrelated\u200d to his campaign or conduct as\u2062 a president or\u200b political \u200bcandidate.<\/p>\n<h3>Legal Battles and Political Ambitions<\/h3>\n<p>Trump has used his court \u200cappearances as impromptu campaign\u200c stops, using them as platforms to deliver \u2062incendiary remarks and claim that his enemies are\u200b using\u200d the courts\u2064 to\u200c prevent his \u200breturn to the\u2063 White House.<\/p>\n<p>Aside from the civil case, Trump is \u200dfacing indictment in four criminal cases,\u2063 including one \u200bin New York related to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supreme-court-rejects-trump-bid-to-shield-financial-records\/\" title=\"Supreme Court Rejects Trump Bid To Shield Financial Records\">hush money payments made<\/a> to \u200ca porn star before the 2016 election. The judge overseeing that case recently set a\u200c trial date for March 25,\u2062 despite objections from Trump&#8217;s lawyers.<\/p>\n<p>Trump\u200d has pleaded not guilty in all four\u200d cases.<\/p>\n<p>During the New York civil trial,\u2064 Trump \u2064clashed with the\u200c judge and attorney general James, accusing them of bias.\u2063 Engoron fined \u2062Trump $15,000 for \u200dviolating\u2063 a gag \u200border against disparaging court staff.<\/p>\n<p>The trial featured dramatic testimony, \u2063including Trump&#8217;s\u2064 defiant appearance on the witness stand, where he boasted about his business acumen and accused James \u2062and Engoron of partisanship. Trump&#8217;s former lawyer, Michael\u2063 Cohen, also testified for the state,\u2063 revealing that he manipulated the\u200b values of Trump&#8217;s real estate properties to\u200c match Trump&#8217;s claims.<\/p>\n<p> <\/p>\n<h2> How could the restrictions imposed\u2062 on Trump by the \u2063ruling affect his ability to\u2062 obtain a large loan?<\/h2>\n<p><span>  Ovide such a large loan may prove\u2063 challenging \u2064given\u2062 the restrictions placed on him by the ruling.\u2062 This could further\u2062 strain Trump&#8217;s\u200b already troubled financial situation.<\/p>\n<h3>Political\u200c Implications<\/h3>\n<p>As Trump&#8217;s \u200clegal battles continue to\u200c mount,\u200b there are broader implications for his political\u200c ambitions. With \u2064the 2024 U.S. presidential election on the horizon, these\u2062 legal setbacks could hinder his bid for a\u2062 second term in office.<\/p>\n<p>The ruling in the fraud case \u200dadds to the mounting legal woes faced by Trump. He is also under investigation for \u2064potential \u2063tax fraud, obstruction of \u2062justice, and campaign finance\u2064 violations, among \u2062other\u200d charges. \u2063The outcome of these cases could\u200b significantly impact his reputation and \u2064ability to attract voters.<\/p>\n<p>Furthermore, the \u2063ruling raises questions about the integrity and\u200b legitimacy \u200dof Trump&#8217;s business practices. The judge&#8217;s scathing remarks and severe penalties reflect a lack of \u2063trust in Trump&#8217;s character \u2062and actions. This could \u2062harm his ability to maintain support among\u200d his base and attract new followers.<\/p>\n<h3>Repercussions for Real Estate Empire<\/h3>\n<p>The financial penalties and restrictions imposed by the ruling could have serious consequences \u2063for Trump&#8217;s real estate empire. With\u200b limited \u2062access to \u200ccredit and potential damage to his reputation, securing new \u200cloans and maintaining \u2064existing ones may prove \u200dchallenging.<\/p>\n<p>Trump\u200c has built his brand on his supposed business acumen \u200band success in the real estate industry. \u200dHowever, the fraud\u2064 case\u200c and subsequent ruling cast doubt on the veracity of his \u200cclaims. It remains to be seen how this will \u2063impact the perception of his\u200d real estate ventures\u2063 and \u2063the willingness of potential investors to engage with him.<\/p>\n<p>The \u2064ruling\u200c also raises concerns\u200b about the \u2063stability\u2063 of Trump&#8217;s real estate businesses. With significant financial\u2064 penalties to \u2062pay,\u200c the viability of these ventures may be questioned. This could lead\u200c to a decline in property \u2064values, rental incomes, and overall profitability.<\/p>\n<h3>The\u2062 Path\u2063 Forward<\/h3>\n<p>Although Trump&#8217;s lawyer has vowed to appeal the ruling, the legal battles ahead \u2064remain formidable. \u2063The outcome of these cases will significantly\u200d shape \u200cTrump&#8217;s future and his standing\u2064 in the public eye.<\/p>\n<p>As the legal \u2064proceedings continue, it is clear that Trump&#8217;s fraudulent actions have caught up with him.\u2063 The judge&#8217;s decision reflects a \u2064strong stance against \u200csuch\u2062 behavior and serves \u2063as a warning to others who may be tempted\u2063 to engage in \u200dsimilar practices.<\/p>\n<p>For Donald \u200bTrump,\u2063 the $354.9 million judgment and\u200c accompanying penalties mark a severe blow to his personal finances and standing \u2062in the business world. As he continues to fight these legal\u2063 battles,\u2062 the future of \u200chis real \u200cestate \u2064empire\u200b and political\u200d ambitions hangs in the balance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump faces a $354.9 million penalty for deceiving lenders by inflating his net worth, as ruled by a New York judge. This legal blow adds to the challenges the former president is already facing, jeopardizing his real estate business. Justice Arthur Engoron&#8217;s decision, delivered after a heated three-month trial, was strongly worded<\/p>\n","protected":false},"author":66,"featured_media":2178420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/01\/trump-wins-iowa.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2178419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/freebeacon.com\/wp-content\/uploads\/2024\/01\/trump-wins-iowa.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2178419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2178419"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2178419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2178420"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2178419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2178419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2178419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}