Donald Trump is issued a staggering fine of $US354.9 million, which could deal a major blow to the former president's brand, bank balance and business empire. Here's why.
In the city where Donald Trump made his name and fortune, the former president has been hit with hundreds of millions of dollars in fines and barred from working for any New York company for three years.The ruling marks the end of a protracted and bitter civil lawsuit and represents a potentially devastating blow to the Trump Organization, which could damage his brand, bank balance and business empire.
At the time, Judge Engoron ruled Mr Trump, his sons — Eric Trump and Donald Trump Jr — and the Trump Organization had committed "fantasy world" fraud. From the outset, Mr Trump and his team have denied any wrongdoing and instead argued the court had significantly undervalued his assets. He also attacked the judge and his clerk, resulting in the imposition of a gag order, which he subsequently violated.
"I helped New York City during its worst of times, and now … the radicals are doing all they can to kick me out," he said.If the decision were to stand, "it will serve as a signal to every single American that New York is no longer open for business," she said.It's not all bad for the Trump Organizaition — Judge Engoron's 92-page ruling did include some good news for the former president.
Former prosecutor Mitchell Epner said this could take up to 36 months as the appeal process in New York tends to be very slow. Yesterday, a court in New York dismissed his motion to throw out a case related to his alleged attempts to disguise hush money payments to porn star Stormy Daniels.If it goes ahead, it'll be the first time a former president has ever gone on trial for criminal charges.
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