In a significant legal ruling issued late Friday, Judge Arthur Engoron delivered a severe blow to Donald Trump, both financially and legally. The ruling could potentially deal a lasting blow to the business empire that propelled him to the presidency.
The judge’s order, spanning 92 pages, mandated Trump to pay a staggering $355 million. This amount could inflate to over $450 million with accruing interest. Additionally, the ruling temporarily revoked Trump and his sons’ authority to manage their own businesses. It also barred them from seeking financial support during this period.
New York Attorney General Letitia James praised the penalties, seeing them as effective measures to prevent further fraud. These penalties have placed the Trump Organization in a precarious situation, both legally and financially.
The former president now faces significant legal battles while also preparing for an expensive presidential campaign. The rulings have left the organization and its personnel in a state of uncertainty.
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Trump expressed determination to continue working and appealed the ruling. He believes that if unsuccessful, it could have dire consequences for New York State.
Trump’s legal team intends to appeal, confident that higher courts will overturn Engoron’s decision. A spokesperson for the Trump Organization warned that upholding the ruling could accelerate companies leaving New York. Trump and his legal team plan to appeal Engoron’s ruling to New York’s Appellate Division, First Judicial Department.
The same court previously granted Trump a temporary victory by halting the cancellation of his business certificates. Engoron reversed part of his previous order but imposed a three-year monitoring period on the Trump Organization.
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“That was a very carefully crafted remedy that the judge put in place,” said former federal prosecutor Josh Naftalis, who said the early penalty was likely vulnerable to an appeal. “It’s also much harder for the president to get [the new ruling] thrown out on appeal,” Naftalis said.
Engoron’s lengthy opinion also leaned heavily on the facts of the case — including lengthy portions on the testimony from each witness — in a manner that could strengthen the case on appeal, according to trial attorney Ryan Saba.
“This court sat one yard away from the witnesses on the stand, had a clearer view of the witnesses and was able to assess their credibility,” Saba said about Engoron’s role as a factfinder during the jury trial. “The findings in this opinion, if the appeal is based upon a factual challenge, are going to be very difficult to overturn.”
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Trump could potentially prolong the appeal process by seeking review from New York’s highest court, the Court of Appeals. However, while this could buy him time to gather funds for the fine, the penalty would continue to accumulate interest annually.
Trump’s legal team remains optimistic about their appeal prospects, citing past rulings that restricted the statute of limitations for the case’s conduct.
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