Donald Trump is staring down the barrel of a $454 million judgment in a New York fraud case, a staggering fine that has provoked a vitriolic response toward New York Attorney General Letitia James. The former president’s financial woes have intensified, and amidst his denials and fundraising efforts, he has taken to Truth Social to air his grievances, lambasting James and Judge Arthur Engoron in a fiery rant.
The judgment, part of a civil suit, calls for the substantial payment by Trump and temporarily prevents him from conducting business in New York, a state that once served as the fertile ground for his real estate empire. The ruling by Manhattan Supreme Court Justice Arthur Engoron is a culmination of findings that Trump inflated his net worth by billions to secure favorable loans from banks and insurers.
On social media, Trump’s disdain for the legal authorities involved was clear. “Arthur Engoron is a Rogue Judge who was intimidated by the big, nasty, and ugly mouth of Leticia James, considered by many to be the WORST Attorney General in the U.S. She is a Low IQ individual who campaigned for Governor, using my name, and got TROUNCED,” Trump posted on his platform, Truth Social. He added with bravado, “But have no fear — When I become the 47th President, we will MAKE NEW YORK GREAT AGAIN!”
Despite Trump’s assertion of having close to $500 million in cash, his claims are met with skepticism, especially given his legal team’s admission that securing funds to pay the fine has been an uphill battle. Insurance companies have reportedly refused to underwrite a bond for the judgment, and this financial squeeze comes at a time when Trump is ramping up for another presidential run.
As for the judgment itself, it’s the result of Trump’s alleged decade-long inflation of property values to secure advantageous loan terms. Engoron’s decision, accompanied by a three-year ban on Trump serving as an officer or director of any New York company, also extends a two-year business ban to his two eldest sons and mandates they each pay $4 million.
Engoron’s ruling pulls no punches, describing the fraud as something that “leap[s] off the page and shock[s] the conscience.” Trump’s lawyer, Alina Habba, described the ruling as “manifest injustice,” and is confident that an appeal will upend the decision and “end this relentless persecution against my clients.”
This legal development marks yet another chapter in the saga of Trump’s tumultuous post-presidential life, which has been marred by a string of lawsuits and investigations. While Trump’s defense team downplays the cash shortage, critics point to a deposition where Trump claimed to have over $400 million in cash, raising questions about the veracity of his current financial predicament.
Trump’s attacks on AG James and Judge Engoron extend beyond mere social media outbursts. In the courtroom, he’s known to veer off-topic to insult the judge and argue against the legitimacy of the proceedings, framing himself as the victim of a partisan witch hunt.
Relevant articles:
– Trump refers to AG Letitia James as having an “ugly mouth” and “low IQ” in Truth Social rant
– Trump’s half-billion-dollar problem, Le Monde, Thu, 21 Mar 2024 19:00:21 GMT
– Donald Trump ordered to pay $355M, barred from NY business in civil fraud case, New York Post, Fri, 16 Feb 2024 08:00:00 GMT
– Donald Trump To Pay $112K Per Day In NY Civil Trial Fraud Interest; Ex-POTUS Has 30 Days To Post $466M Bond For Appeal Or Assets Could Be Seized – Update, Deadline, Fri, 23 Feb 2024 08:00:00 GMT