Former President Donald Trump faces a unique legal challenge in New York, where he has been fined $350 million under an obscure fraud statute that does not require proof of harm. This law has led to Trump being the only person ever targeted under its provisions. The case revolves around allegations of financial dishonesty, specifically that Trump's financial statements were inflated, a practice critics argue is not uncommon in New York's business circles. Despite the banks conducting their own due diligence and not claiming to have been defrauded, the court's decision to impose such a significant fine has sparked debate. Concurrently, Trump's potential financial future looks bright as his stake in Truth Social could be worth upwards of $4 billion if the company goes public. This juxtaposition of financial adversity and opportunity highlights the complex legal and economic narratives surrounding Trump post-presidency.
“The New York State laws used to go after Trump have NEVER been used in this way…not a single bank claimed that it had been defrauded by Trump in the loans it had made to him. This is truly a victimless crime…James and Engeron have essentially turned a vaguely worded New York…
Think of all of the over valuations of assets that must take place in NY on financial statements every year and yet Trump is the ONLY high profile person ever to be sued under this obscure law. Banks did their due diligence. No one was harmed. Trump did not profit unfairly.
Trump is the ONLY PERSON EVER TO BE SUED UNDER THIS OBSCURE LAW. Critics have noted that Trump is the only person ever to be sued under an obscure New York fraud statute that does not require any harm be done, and that effectively criminalizes the everyday practice of real…
WATCH: CNN says if TRUTH Social goes public, Trump’s shares could be worth “upwards of $4 BILLION” https://t.co/CldlmFWL0H
Trump is the first modern President to become poorer after leaving office, partly due to nearly $500 million in sham verdicts in New York alone. But all that may soon change... Trump stands to enjoy a windfall of nearly $4 billion if Truth Social goes public. POETIC JUSTICE. https://t.co/4DnKF4sgFo
CNN on Trump’s stake in Truth Social: “How much would Trump’s shares be worth if it does in fact go public? It could be upwards of $4 billion” https://t.co/5KfcVbbjjp
CNN: “How much would Trump’s shares be worth if it does in fact go public? It could be upwards of $4 billion. That’s billion with a B—not million with an M” https://t.co/S7hbnYTZmY
CNN analyzes Trump’s Truth Social merger “How much would Trump’s shares be worth if it does in fact go public? It could be upwards of $4 billion. That’s billion with a B—not million with an M” They’re trying to shut down his empire and he’s getting richer 🔥 https://t.co/aHahi8FcgS
The New York law that resulted in a staggering "disgorgement" order against Trump does not require proof that anyone was injured by his financial dishonesty. https://t.co/kxKpSPQpHq
If the banks did not rely upon Trump's numbers, how did Trump illegally profit? The loans were made on vetted numbers.
If the New York Banks did their own due diligence and realized that Trump's numbers were fake yet lended on them anyway, shouldn't the banks also have to give back the profits they made from Trump because they intentionally lended on what they knew were fake numbers?
How did the New York Court determine Trump's 350 million dollar fine as ill-gotten gains when the banks in question all did their own due diligence and lent based upon that. Trump's financial records were irrelevant. The banks left based upon what they thought the property was…
Donald Trump may be the first businessman in NYC sued for half a billion dollars for making everyone money.