Trump GUILTY

Reuters reports that a New York judge, Justice Arthur Engoron, has found former U.S. President Donald Trump and his family business liable for fraudulently inflating the value of his properties and other assets. This decision could significantly impact Trump's ability to conduct business in New York State.

Key Points:

    Legal Consequences: The judge ordered the cancellation of certificates that allowed some of Trump's businesses, including the Trump Organization, to operate in New York. A receiver has also been appointed to manage the dissolution of these businesses.

    Upcoming Trial: The ruling makes it easier for New York State Attorney General Letitia James to establish damages in a trial scheduled for October 2.

    Fraudulent Valuations: The judge stated that Trump, his adult sons Donald Jr. and Eric, and the Trump Organization inflated Trump's net worth to suit their business needs, describing it as a "fantasy world."

    Legal Sanctions: The judge also sanctioned the lawyers of the defendants for making "preposterous" legal arguments.

    Appeal Plans: Trump and the other defendants plan to appeal the decision, stating that they never committed fraud and that the transactions in question were profitable.

    Political Implications: Despite this setback, Trump is still seeking the Republican presidential nomination for 2024.

    Public Response: Trump has publicly denounced the ruling, calling it a "witch hunt" and stating that the judge is biased.

    Financial Impact: If the decision is upheld, Trump's businesses may have to liquidate their assets, according to Bill Black, a scholar in residence for financial regulation at the University of Minnesota Law School.

    Ongoing Litigation: Trump also faces multiple other legal challenges, including criminal charges and civil trials.

The article suggests that this ruling could have far-reaching implications for Trump, both legally and financially.

The ruling against Donald Trump and his family business by the New York judge could have several far-reaching implications, both legally and financially:

Legal Implications:

    Criminal Charges: The civil fraud case could potentially pave the way for criminal charges, depending on the evidence presented. Criminal charges would have more severe consequences, including possible jail time.

    Legal Precedent: This ruling could set a legal precedent for other pending cases against Trump, making it easier for prosecutors to argue their cases.

    Appeals and Legal Costs: Trump and his organization plan to appeal, which will not only prolong the legal battle but also increase legal costs significantly.


    Sanctions on Lawyers: The judge also sanctioned the lawyers of the defendants, which could make it more challenging for Trump to find legal representation in future cases.

Financial Implications:

    Business Operations: The cancellation of certificates that allowed Trump's businesses to operate in New York means an immediate halt in those operations, affecting revenue.

    Asset Liquidation: If the ruling is upheld, Trump's businesses may have to liquidate their assets, as mentioned by Bill Black. This could mean selling off properties and other valuable assets at potentially lower market values.

    Financial Scrutiny: The ruling could lead to increased scrutiny of Trump's financial dealings, making it difficult for him to secure loans, partnerships, or other financial instruments.

    Impact on Stakeholders: Shareholders and partners in Trump's various businesses could also face financial losses, and it could deter future investors and partners.

    Credit and Loans: The fraudulent inflation of asset values could make financial institutions wary of extending credit or loans to Trump and his businesses, affecting their liquidity and operational capabilities.

    Insurance Costs: If Trump is found to have defrauded insurers as well, the cost of insuring his businesses could skyrocket, adding to operational costs.

    Tax Implications: If asset values were fraudulently inflated, there could be back taxes owed, along with penalties.

    Political Fundraising: The legal and financial troubles could also impact Trump's ability to fundraise for political campaigns.

    Global Business Deals: The ruling could also affect Trump's business dealings internationally, as foreign companies and governments may be hesitant to engage with a business leader under such legal and financial scrutiny.

In summary, the ruling could have a domino effect that impacts Trump's legal standing, financial health, and even his political future.