this post was submitted on 16 Feb 2024

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711

Trump Ordered to Pay Over $350 Million and Barred From New York Business (www.nytimes.com)

submitted 7 months ago by Rapidcreek@lemmy.world to c/politics@lemmy.world

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[–] Nightwingdragon@lemmy.world 171 points 7 months ago (9 children)

I actually consider this a very big win for Trump.

Literal decades of fraud that netted him billions in profits and he only has to pay back $300 million.

Little decades of fraud, and he's only banned from being an officer or director for 3 years. He gets to keep everything else.

Once again a very rich person got away with decades of crimes and only had to give back a portion of the profits. $355 million is only a small portion of the money he has made in the past four decades.

Guy should have been forced to cough up the full 375, and then permanently banned from doing any more businesses in the state. Anything else is a gift.

[–] tristan@aussie.zone 50 points 7 months ago (1 children)

I'm no expert by any means but I think once he's kicked out of NY, it's going to be pretty difficult for him to get back in.

He also has the court appointed monitor for the next 3 years which he already complained is costing him money (by stopping him from committing more fraud).

On top of that, banks will think twice before doing business with him in the future making it very difficult for him to make money without risking what he already has

While I agree that it should have been much more, I think (well more of a hope) that the long term damage this will do will cost him and his family far more than if he never committed fraud in the first place... Then again, he's shown an amazing ability to avoid consequences this far

[–] Boddhisatva@lemmy.world 20 points 7 months ago (2 children)

He hasn't really been kicked out, though. Has he? He's banned from "serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years" but the business certificates were not cancelled. The judge modified his original order from September to vacate the directive to cancel them. That means that when the monitor, who Trump is paying about $186,000/month, is done in three years, he'll be back in control of it all.

[–] tristan@aussie.zone 15 points 7 months ago

Oh... I misunderstood that part then, I thought that part of the order was still in place. That's not as bad for him. My hope is that the monitor digs up a lot more dirt in that time and hands it over, like they did a month or so back

[–] Natanael@slrpnk.net 7 points 7 months ago* (last edited 7 months ago) (1 children)

He's not allowed to control or direct the company for those 3 years, and the sum of the judgment might be enough to force the company to be sold off

[–] Boddhisatva@lemmy.world 9 points 7 months ago

Maybe, but somehow I don't think it'll play out that way.

I think one of two things will happen with the businesses. First, it may turn out that they owe so much because of the fraudulently acquired loans that they are not really profitable and will end up failing. They simply might not viable without the ongoing fraud. It'll get particularly dicey if the banks Trump and his companies defrauded decide to use the ruling to demand that the loans be immediately repaid. I doubt that will happen, but it'd be fun to watch.

On the other hand, Trump is such a bone head businessman that he could actually be richer if he'd just invested his inheritance in the stock market and not started his own businesses. This is a guy who managed to bankrupt multiple casinos. The saying, the house always wins, apparently doesn't apply when Trump is running the house. Without his tiny, incompetent hands at the wheel, his companies might actually start running more efficiently. Whoever will be running them instead of Trump may just do a better job than him, since they won't be so focused on committing crimes. Trump could actually make more money from them than he would otherwise.

[–] ImplyingImplications@lemmy.ca 47 points 7 months ago

I know Trump has done a lot of illegal stuff to make money over the years, but this trial is specifically about the over valuing of his properties in New York state. $300 million and loss of owning and operating businesses in the state, even temporarily, is a huge punishment for what he was on trial for.

If only his many other trials end the same way then maybe he will have faced justice. We'll have to see.

[–] MNByChoice@midwest.social 16 points 7 months ago

Amount is pretty close to what the prosecutor asked for.

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[–] ininewcrow@lemmy.ca 103 points 7 months ago (2 children)

This is a reflection of America ... not of Trump

The fact that someone this corrupt continues to have a political career says more about America than anything else.

[–] ctkatz@lemmy.ml 26 points 7 months ago (1 children)

it says a lot about the political coverage in the media and half of the voting population, but I'm not sure it says something about all of us. some of which were raising alarms and flags for 50 years (I'm not that old but I know people that were) and were ignored. sometimes intentionally.

[–] ininewcrow@lemmy.ca 17 points 7 months ago (1 children)

In history it's often portrayed as thirds.

A third is complicit in supporting fascist ideology

A third are active in fighting against fascist ideology

And a third are ignorant of any side and don't care if one or the other is supported so long as they are able to eat, have shelter and get by.

It's the ignorant masses that are the most volatile because all that's needed is a brief moment of their attention to change the course of history.

[–] theangryseal@lemmy.world 8 points 7 months ago* (last edited 7 months ago)

I have been speaking out against Donald Trump since he made the comment in his debate with Hillary Clinton about keeping us in suspense when they asked him if he’d accept the results if he lost.

In all of this time I have changed only one mind. ONE.

I said then, “I promise you, if he loses, he’ll claim it was stolen.” “No he won’t. He’s just making a show of it. He’s a really smart man and he’s playing with these career politicians.”

He won.

When he ran again, I reminded them of what he said in the debate with Hillary Clinton. When he lost, he did exactly what I said he would do (what HE said he would do). It didn’t matter that he won the last time. Still, nearly all of them said, “Well, they cheated the first time but they didn’t cheat hard enough. They cheated this time and Covid helped with voting by mail. Dead people voted.”

Even though he told them all EXACTLY what he would do if he lost, they still followed whatever he said after that and made excuses.

It blows my fucking mind.

[–] dQw4w9WgXcQ@lemm.ee 8 points 7 months ago

In Norway, we have had a wave of politicians leaving their minister posts or other high positions due to tax evasion on use of governmental appartments, small incidents of inside trading and lack of citations/plagiarism on their master thesis. It all seems so small nd innocent comparred to what Trump has done while still running strong for his party.

[–] UnPassive@lemmy.world 80 points 7 months ago* (last edited 7 months ago) (4 children)

"I'll vote for him again because he isn't like the other corrupt politicians"

-My dad

[–] mightyfoolish@lemmy.world 27 points 7 months ago

To be fair, Trump is his own class of corrupt.

[–] buzz86us@lemmy.world 15 points 7 months ago (1 children)

You should hear about the fucked up shit his dad did with coney island.

[–] Keineanung@lemmy.world 9 points 7 months ago (1 children)

Well now you're teasing. Please do tell.

[–] buzz86us@lemmy.world 9 points 7 months ago* (last edited 7 months ago) (2 children)

Like he demolished Steeplechase, ruined the gut, and displaced African Americans, and forced them to live in old Sumner camps that weren't designed for winter occupation while not letting then in Trump village, AND collecting relocation fees peer family. https://youtu.be/r6XCs652VDY?si=N-WpoQzxmTk1ez_D

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[–] jordanlund@lemmy.world 63 points 7 months ago (15 children)

Only banned for 3 years though...

[–] themeatbridge@lemmy.world 44 points 7 months ago (1 children)

And only banned from serving as an officer or director. Engoron cancelled the dissolution order, so he keeps his real estate holdings and his ownership interests.

[–] FuglyDuck@lemmy.world 25 points 7 months ago (1 children)

That’s just wrong.

[–] themeatbridge@lemmy.world 17 points 7 months ago

Yep, it's not like whoever works for his companies isn't going to take direction from him, regardless of whether he has a title or draws a salary.

[–] FlyingSquid@lemmy.world 36 points 7 months ago (1 children)

Honestly, the whole ruling is utter bullshit based on both the amount of fraud and Trump and his lawyer's behavior in court.

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[–] snooggums@midwest.social 9 points 7 months ago

It really should be permanent based on the scope of fraud.

[–] empireOfLove2@lemmy.dbzer0.com 8 points 7 months ago* (last edited 7 months ago)

3 years might be long enough to let the big macs catch up to him

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[–] homesweethomeMrL@lemmy.world 57 points 7 months ago (1 children)

In his unconventional style, Justice Engoron criticized Mr. Trump and the other defendants for refusing to admit errors for years. “Their complete lack of contrition and remorse borders on pathological,” he said.

Borders. Sure.

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[–] ChunkMcHorkle@lemmy.world 49 points 7 months ago (6 children)

The most blatant exaggeration was the listed size of Mr. Trump’s triplex apartment in Trump Tower on Fifth Avenue. For years, the former president had valued it as if it were 30,000 square feet, when it was actually 10,996.

You'd almost think he's a bit insecure about . . . size.

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[–] MNByChoice@midwest.social 33 points 7 months ago

The financial penalty reflects those lost profits, with nearly half of the $355 million — $168 million — representing the interest that Mr. Trump saved, and the remaining sum representing his profit on the recent sale of two properties, money that the judge has now clawed back from Mr. Trump and corporate entities he owns.

[–] snekerpimp@lemmy.world 26 points 7 months ago (1 children)

Republicans: “man, I just can’t think of a better candidate than this convicted fraudster. He can defraud the world and make America great again, again, again.”

[–] CosmicTurtle@lemmy.world 11 points 7 months ago

He defrauded everyone else. Surely he won't defraud us.

Republican voters

[–] mynamesnotrick@lemmy.zip 24 points 7 months ago

More like maga cult will pay in donations 350 million *

[–] SpaceNoodle@lemmy.world 24 points 7 months ago (1 children)

Loser.

Broke loser.

[–] FuglyDuck@lemmy.world 19 points 7 months ago

This is actually a massive win.

3 year ban from serving as an officer or board member, but doesn’t have to give up any companies, and retains ownership?

Given the rampant corruption and fraud and how long it’s been going on; that’s the least that should have happened.

[–] nutsack@lemmy.world 21 points 7 months ago (3 children)

he's only barred from controlling his businesses for 3 years? that doesn't seem like a big deal

[–] Psythik@lemmy.world 8 points 7 months ago (6 children)

He may not live another three years (hopefully).

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[–] jordanlund@lemmy.world 19 points 7 months ago (7 children)

$354 million here...
$83.3 million to E. Jean Carroll
$5 million on the first E. Jean Carroll case..

So $442,300,000 - Yow!

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[–] Buffalox@lemmy.world 17 points 7 months ago* (last edited 7 months ago)

Trump is a loser.
This is the takeaway we need to impress on a MAGA crowd, that is immune to all the immorality and treason.

[–] DandomRude@lemmy.world 15 points 7 months ago* (last edited 7 months ago) (1 children)

Could this ruling result in criminal charges or are there already proceedings underway in this matter? I mean, the judge has determined that Trump is personally responsible for fraud amounting to several hundred million dollars, right? Accordingly, he himself is banned from doing business in the state of New York for the next three years, which makes it clear that Trump himself has been found to have committed fraud. But is that all? Fraud on this scale must also be criminally relevant, mustn't it? Or is it really possible in the USA to get off the hook simply by paying a fine, even for such serious criminal misconduct?

[–] Subverb@lemmy.world 8 points 7 months ago (4 children)

OJ Simpson was found not guilty criminally and guilty civilly. It's a thing.

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[–] sunbytes@lemmy.world 13 points 7 months ago (3 children)

Come up with the money or secure a bond within 30 days

Or what? Does anyone think he's actually going to pay?

He's going to Alex Jones it at worst, and at best do the same but smarter.

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[–] PeckerBrown@lemmy.world 10 points 7 months ago (1 children)

Why the fuck not prison?

[–] elbucho@lemmy.world 31 points 7 months ago (4 children)

Well, there wouldn't have been prison in any case from this trial, as it was a civil suit, not a criminal one. But, he is facing 91 felony charges in total spread across a few cases that are currently working their way through the court, so maybe. Probably not. But maybe.

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[–] ctkatz@lemmy.ml 10 points 7 months ago

liquidator brunt approves.

[–] FabledAepitaph@lemmy.world 9 points 7 months ago

Finally, some freaking consequences

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