Trump fined $355 million & banned from doing business in New York.

Tikay10

Trump and his organisation have been found liable to pay $354,868,768 (£281m).

Trump is banned from doing business in New York for three years, and his sons Eric and Donald Jr. are barred for two years.


Donald Trump, Jr and Eric Trump, who run the Trump Organization together, have each been found liable to pay $4,013,024 (£3,184,294).


Trump can't apply for loans in New York for three years

Donald Trump and the Trump Organization and its affiliates are banned from applying for loans from any financial institution chartered by or registered with the New York State Department of Financial Services.
That will last for for a period of three years.

tai-gar

Poor old Trump.

madprof

Someone told me if Trump had just invested all of the money he inherited, he would be better off financially than his whole failed business career!

Perhaps the way to consign Trump to history is for his failings to continue to cost his wallet!

Tikay10

On top of yesterday's fine there's another $100 million or so in what is called "pre-judgement interest", then of course he owes E. Jean Carroll (the woman he sexually assaulted) $83.3 million, and there's plenty more of that sort of stuff in the pipeline. Plus of course his legal fees which must be well into 7 or 8 figures now. He does not have that sort of ready cash, far from it, but he'll be OK, he'll just do what he always does & steal it from the Campaign Funds his supporters donate. And if all that's not enough, he has several other very big criminal trials awaiting him, insurrection/Jan6, & that business in Georgia where he begged the Governor to "find me" some votes. Ironic that he was caught on tape doing that & yet he accuses others of being corrupt, isn't it? He can't say "Biden" without adding "corrupt", & yet there's never been a more corrupt politician in the USA.

On top of all that, he's a rampant racist, which is unforgiveable.

I dislike schadenfrude intensely, and so I'm a little ashamed of myself here, but I can't help but feel pleased he is now having to face the music.

The US of A (& the world) deserves better than both Trump or Biden imo.

Essexphil

Part of the problem lies in the US Constitution. A 1789 document providing rules as to how to live in 2024. So-next to no Rules about being fit to stand as President. 1789 Gun Rules applying to 2024 weaponry.

We have the advantage of flexible rules, a Constitution that is largely not written down, and the ability to move with the times.

Whereas the US Constitution has only ever had 33 amendments in nearly 250 years. The last substantive 1 being in 1971.

https://en.wikipedia.org/wiki/List_of_amendments_to_the_Constitution_of_the_United_States

Tikay10

One more thing...

Almost predictably, after yesterday's disaster, Trump has shortened with the bookies to be next President. Every time he loses a case, he shortens in the market.

As of this morning, Wm Hill go 5/6 Trump, 9/4 Biden.

Go figure that one. And the bookies rarely get it wrong.

HAYSIE

Trump must now decide whether to LIQUIDATE assets from his $323M in golf courses and $690M in New York buildings and golf properties to pay stunning $355 million fraud fine or cough up $35M bond in 30 days.


https://www.msn.com/en-gb/money/other/trump-must-now-decide-whether-to-liquidate-assets-from-his-323m-in-golf-courses-and-690m-in-new-york-buildings-and-golf-properties-to-pay-stunning-355-million-fraud-fine-or-cough-up-35m-bond-in-30-days/ar-BB1ip9xc?ocid=msedgntp&pc=NMTS&cvid=a30fc13be4d44331971766a8a31dc810&ei=65

mumsie

Trump's has 30 days to come up with $454,156,783.05

Plus interest of £100,000 a day.

Sources:
CBS LINK
Yahoo Link
Bloomberg Link