A judge banned the former president and Republican presidential candidate from operating his business in New York for three years.
Donald Trump was ordered by a New York court to pay $354 million in fines for grossly falsifying the value of his properties to get favorable loans from banks and preferential rates from insurance companies.
Judge Arthur Angoron, who for several months presided over a civil suit brought by New York State against the Trump Organization, added to this significant penalty a ban on Donald Trump from exercising functions as a leader or director for three years. A New York based company. His two grown sons, Eric Trump and Donald Trump Jr., the company’s executive vice-president, were each fined more than $4 million and banned from running New York companies for two years. However, he did not go so far as to order the dissolution of the Trump Organization, as he could have done. A court-appointed administrator will have to monitor the company’s activities during the three-year ban.
Donald Trump promised on Friday that he would appeal his sentence. “There was no cheating” And it is “An Instrumentalization Towards a Political Rivalry”He assured the press from his Mar-a-Lago residence in Florida.
In his ruling, Judge Angoro found that the defendants, Trump and his two sons “Deny reality“, and being”pathologically” Unable to recognize their actions. “His total lack of remorse and remorse over pathology.”He wrote, “The accused did not commit murder or arson. They didn’t rob a bank at gunpoint. Donald Trump is not Bernard Madoff. However, the accused are unable to admit their mistake.. “The deception is obvious and shocks the conscience”The judge added.
manipulation of value
The decision directly affects the image of a wealthy and shrewd businessman on which Trump has built his reputation, in the same New York City where he began his career as a real estate developer. The 92-page document details how Trump systematically manipulated the values of some of his best-known properties, such as his Trump Tower triplex at 5E Avenue, the luxurious Seven Springs property and his 80 hectares of land north of New York, the Mar-a-Lago mansion in Palm Beach, Florida, or his golf club in Aberdeen, Scotland.
According to the document, Trump and his company routinely defrauded the valuation of these properties to obtain favorable loans from banks such as Deutsche Bank, one of Trump’s main lenders. According to Trump’s former lawyer Michael Cohen, who testified at the trial, Trump never directly asked his aides to further appraise his properties. “He talks like the boss of a mob, saying whatever he wants without being precise. For example, when he said, I am worth more than 5 billion, maybe six, seven or eight, we understood what he wanted.
According to the procedure for this civil trial without a jury, Judge Angron alone decided on the judgment and sanctions, which were close to the $370 million claimed by the New York plaintiff, Letitia James. “Today, the Court ignored the law and the facts, and upheld the Attorney General’s patently unjust political crusade against the most prominent candidate for President of the United States.”, Trump’s lawyer commented in a statement. Qualification of decision as“Atrocious Abuse of Power” And announced that his client would appeal the verdict.
Trump, whose presence at the trial caused a stormy exit, called the verdict “Humbug”. In a statement, he attacked Democratic prosecutor Letitia James “racist and corrupt”, “Crooked Judge Angoron” And “An illegal and un-American ruling against me, my family and my incredible business.” “There were no victims, no damage, no complaints. There were only satisfied banks and insurance companies”Trump said.
