New York Attorney General Letitia James live-tweets the daily interest charges of over $110,000 accruing on the $464 million fraud ruling against Donald Trump and his associates, following a three-year investigation and 11-week trial. Trump's legal team has filed an appeal, but he has 30 days to post a bond to stop collections on the judgment, with James prepared to seize his assets if necessary. The judgment found Trump and others liable for inflating his net worth and assets to secure favorable financing terms over a decade.
Truckers supporting Donald Trump are threatening to boycott deliveries to New York City in protest of a court ruling that fined the former president $355 million for fraud. The boycott, initiated by conservative social media influencer Chicago Ray, has gained traction on social media, with truckers warning that it could significantly impact the city's supply chain and drive up prices for consumers. Trump has expressed support for the boycott, calling it a stand for freedom, while the influencer has distanced himself from being a leader of the movement.
The Trump Organization denounced a New York Supreme Court ruling ordering Trump, his sons, and former CFO Allen Weisselberg to pay a total cash penalty of $364 million for manipulating asset values, with interest potentially adding another $100 million. The judgment also bars Trump and his sons from running businesses in New York for several years. Experts believe this case is extreme and unlikely to impact other businesses, as it stemmed from a unique refusal to admit errors. The investigation into the Trump Organization was sparked by a 2019 congressional hearing exchange and a promise by New York Attorney General Letitia James to investigate Trump's business dealings.
A state judge ruled that former President Donald Trump persistently committed fraud by inflating the value of his assets, dealing a major blow to his business empire. The judge effectively revoked Trump's licenses to operate his flagship New York properties, including Trump Tower, Trump International Hotel, and a 72-story office building. Trump is expected to appeal the ruling and has already sued the judge. If the decision stands, the Trump Organization could face a sell-off of properties or be handed to a court-appointed chief executive, potentially Barbara S. Jones. The ruling is based on a little-known state law that allows the attorney general to pursue "persistent fraud" without having to show intent or financial loss. Trump denies wrongdoing and attacks the judge and attorney general, who seek to permanently bar him from running a business in New York.
Donald Trump's New York business empire is facing significant challenges after a fraud ruling that could potentially imperil his financial interests. The ruling, which found that Trump's company engaged in fraudulent practices, has raised concerns about the future of his business ventures in the city. This latest setback adds to the mounting legal and financial troubles faced by the former president.
The Trump Organization is grappling with the implications of a recent fraud ruling that found Donald Trump liable for fraud and canceled the business certification of the Trump Organization. Trump's attorneys are uncertain about the extent of the ruling and are working to determine which parts of the company may need to be dissolved. A court-appointed receiver will oversee the dissolution of Trump's corporate entities, and both sides will propose names for the role. Questions remain about how the receiver will operate, the impact on properties outside of New York, and the potential transfer of assets to a new out-of-state company. The trial will proceed as scheduled, allowing the attorney general's office to seek a larger penalty from the Trump Organization. The Trump team plans to appeal the ruling.
