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    The Trump Legal Saga: Fallout from $355 Million Fine and Investor Concerns in New York

    JimBy Updated: Whatfinger News 7 Mins Read

    Shark Tank’s Kevin O’Leary is back again, this time scorching CNN’s Laura Coates: “Excuse me, what fraud? This is no longer about Trump. I care about America.” The exchange gets heated quickly when Coates defends the judgment against Trump, and asks why companies would want to business with “people like yourself…if they know they can get away with fraud.” O’Leary: “Excuse me, what fraud? This is not about Trump anymore. This haggling has gone on for decades. That’s how it works….forget about Trump. I care about America. I care about entrepreneurship. I care about democracy. And the fairness of the judicial system is now being criticized. People in New York should wake up and asking themselves, why is this becoming so perverse. Why are we the focus of this injustice? New York is slowly becoming the number one loser state in America.” This entire exchange is fire. Worth watching in its entirety.  see clip below

    Former President Donald Trump is facing the aftermath of a recent court ruling that fined him over $350 million, with implications that extend beyond financial penalties. In a civil fraud trial, New York Supreme Court Justice Arthur Engoron accused the former president and Trump Organization executives of inflating asset values to secure better terms for bank loans. The ruling, issued on Feb. 16, not only imposed a substantial financial penalty but also barred Trump from conducting business in the state for three years. This is simply a witch trial, totally ridiculous in every way, and is just the Deep State moving on President Trump in order to hurt him as much as possible for daring to run for president.

    Some states and cities actually appreciate their businesses instead of stealing from them. – Jay

    Reacting to the verdict, Trump claimed during a Michigan rally that corrupt officials were forcing businesses out of New York, emphasizing his significant tax contributions. He expressed his intent to appeal the ruling, foreseeing far-reaching consequences from the case. Venture capitalist Kevin O’Leary, known for his role on “Shark Tank,” joined the criticism, denouncing the ruling as “appalling,” “unjust,” and “un-American.”

    O’Leary, in an interview with the New York Post and later on Fox News, warned that the ruling could trigger a business exodus from the state. He argued that the decision, coupled with New York’s already challenging regulatory environment, would make the state unattractive for investors. O’Leary emphasized the importance of considering states as winners or losers, contrasting New York with the thriving city of Nashville, Tennessee, which he referred to as a “winner state” with favorable policies and competitive taxes.

    President Trump, using his social media platform Truth Social, praised O’Leary for his critique and predicted the exodus of businesses from New York. The former president’s social media posts highlighted the potential economic consequences of the ruling and garnered further attention.

    The civil fraud case against Trump, brought by New York Attorney General Letitia James, focused on allegations of defrauding banks, insurers, and others by inflating asset values and exaggerating net worth in financial documents. Trump has defended his actions, asserting that no bank suffered losses, and that lenders, including Deutsche Bank, profited from the interest on loans. He maintained that his brand value, if considered, would reflect a higher net worth than stated in the Trump Organization’s financial statements.

    Despite Trump’s arguments, Justice Engoron’s 92-page legal opinion rejected the defense’s expert witnesses’ testimonies and accused the defendants of submitting false financial data to secure loans. The judge emphasized that statements of financial condition should not provide false estimates and denounced the lack of internal controls to prevent such occurrences.

    The court ruling imposed a $355 million penalty on Trump and Trump Organization executives, with the former president prohibited from conducting business in New York State for three years. Trump’s sons, Donald Trump Jr. and Eric Trump, were also fined $4 million each.  It doesn’t matter that there is no victim, and the judge is basically making up the law as he sees fit in order to appease his Deep State masters.

    New York Attorney General James initially sought a $250 million fine, later increased to $370 million, along with additional penalties. While Justice Engoron granted most of James’s requests, he stopped short of a permanent ban on Trump’s business activities in his native state.

    The fallout from this court ruling extends beyond financial penalties, as Trump and O’Leary’s warnings about a potential business exodus from New York State raise concerns about the state’s attractiveness to investors. The ongoing legal saga underscores the broader implications for the business landscape and economic climate in one of the nation’s key financial hubs.  New York and all Democrat controlled states are dying in every way. Citizens are leaving them all in droves for a reason. Everyone understands what injustice is and come this November, Biden must now rely on massive fraud in order to defeat Trump

    Major Points Discussed:

    • Former President Donald Trump faces a $355 million fine following a recent civil fraud trial in New York, where he and Trump Organization executives were accused of inflating asset values to secure favorable bank loans.
    • New York Supreme Court Justice Arthur Engoron’s ruling not only imposed a substantial financial penalty but also barred Trump from conducting business in the state for three years, prompting Trump to announce his plans to appeal the decision.
    • Venture capitalist Kevin O’Leary, known for his role on “Shark Tank,” joined the criticism, denouncing the ruling as “appalling,” “unjust,” and “un-American,” and warning that it could lead to a business exodus from New York State.
    • O’Leary highlighted the unfavorable business environment in New York, citing uncompetitive regulations and expressed concerns that the ruling would discourage investors, making the state an unattractive destination for businesses.
    • The court case, brought by New York Attorney General Letitia James, centered on allegations that Trump and his company defrauded banks by overvaluing assets and exaggerating net worth. The fallout from the ruling extends beyond financial penalties, raising broader concerns about the state’s appeal to investors and the potential economic consequences for New York.

    Comments – Threads – Links

    • Texas and Florida winners! – Patti Rivers 
    • NYC can now use the empty office building to stack illegals into. Then it will be too many people and no jobs but high crime- Mike MM
    • It would be nice if big business MOVED OUT of ny and boston . They Don’t DESERVE OR SUPPORT – jmsully
    • New York bit the hand that feeds it. – Paul
    • West Virginia’s governor was Democrat when elected into office then switched to Republican! – Jonathan Cole
    • I’m sure all the big companies will be moving to North Dakota lmao – ClaytonTravers

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