Trump Fights Back! By Charles Taylor (Florida)
Donald Trump has been hit by a legal judgment which almost defies comprehension, that he committed fraud against banks who testified that he did not, and that they in fact made substantial profits from his loans. The alleged crime is thus a victimless crime. But we know it was lawfare, constructed to financially destroy Trump. The fine is for $ 354 million, and as detailed in an opinion piece by Professor Turley, this money must be paid as a bond before Trump can even appeal the case! In other words, heads we win, tails you lose! Even given this, Trump's lawyers are still appealing, but I have not seen any new information as to how they intend to deal with the Catch-22 bond issue. Maybe the whole decision will be contested in a higher court outside of insane woke New York.
"A lawyer representing former President Donald Trump said that his team will challenge a New York judge's decision last week, targeting the judge's definition of what fraud is.
Last Friday, Judge Arthur Engoron ruled that the former president is liable for a $355 million fine and cannot operate his Trump Organization in New York state for three years.
"The case raises serious legal and constitutional questions regarding 'fraud' claims/findings without any actual fraud," Chris Kise, the former lawyer in the case, told Newsweek on Monday.
Regarding the appeal of the cause, the lawyer said that it "will depend on many factors so it's hard to say at the moment, but in any event, it will fall within the 30-day clock" under the court's rules.
In 2022, New York Attorney General Letitia James, a Democrat, filed a lawsuit against the former president, his two sons Eric and Donald Jr, the Trump Organization, and several other individuals. Weeks before the trial started, Judge Engoron ruled that President Trump inflated his assets to get better loans.
Other than the judgment against President Trump, the judge wrote that sons Donald Jr. and Eric have to pay $4 million each and are also banned from doing business in New York state for two years. Two executives at the company, Allen Weisselberg and Jeff McConney, were barred from serving as a company officer for three years.
This is a venial sin, not a mortal sin," Judge Engoron wrote. "They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways."
He said their "complete lack of contrition and remorse borders on pathological" and "the frauds found here leap off the page and shock the conscience."
The defendants in the case, including President Trump, said they were innocent and asserted that the judge and Ms. James are acting in a politically motivated manner to target the former president, who is currently the Republican 2024 presidential frontrunner, according to numerous polls.
During the trial, President Trump called Judge Engoron "extremely hostile" and Ms. James "a political hack." He also incurred $15,000 in fines for violating a gag order that the judge imposed after he made a disparaging and untrue social media post about a key court staffer.
While testifying, President Trump said his financial statements actually understated his net worth. He maintains that he is worth several billion dollars and testified last year that he had about $400 million in cash, in addition to properties and other investments.
Reiterating his testimony, the President Trump said last week, "There were no victims because the banks made a lot of money."
A former Trump banker at Deutsche Bank, David Williams, also said in November that the bank adjusted President Trump's net worth to $2.6 billion from the $4.9 billion that he reported. But such a revision, he added, is "not unusual or atypical."
Last month, a jury ordered the former president to pay $83.3 million to writer E. Jean Carroll for defaming her after she accused him in 2019 of sexually assaulting her in a Manhattan department store in the 1990s. That's on top of the $5 million a jury awarded Ms. Carroll in a related trial last year.
In 2022, the Trump Organization was convicted of tax fraud and fined $1.6 million in an unrelated criminal case.
Aside from those cases, President Trump faces a trial in Manhattan next month for allegedly falsifying business records connected to payments he made toward the end of the 2016 campaign. The former president has pleaded not guilty in the case, which is being brought by Democrat Manhattan District Attorney Alvin Bragg.
He's said that Mr. Bragg and Judge Juan Merchan, the presiding judge in the case, have a political bias against him.
Appeal?
Should President Trump appeal the decision, one legal analyst said that it hinges on his argument that there were no victims.
"It is unusual, and that's one of the issues here," said white collar criminal defense attorney Paul DerOhannesian, reported Reuters. "We haven't really seen this type of proceeding before against a very large New York business."
Syracuse University law professor Gregory Germain appeared to dispute the case, telling Reuters that the "attorney general's job is to protect people who can't protect themselves," adding that "we're dealing with very sophisticated lenders who are fully capable of protecting themselves and haven't asked the attorney general for help."
"I think the judges are going to have to look carefully at what the powers of the attorney general are here," Mr. Germain said. "Are they so broad that any lie can put you out of business, even if nobody believed it?"
After Judge Engoron's ruling, there have been warnings that businesses may not want to operate out of New York state, potentially leading to a downturn in the state's economy. That prompted Gov. Kathy Hochul to try and reassure businesses that they have "nothing to worry about" after the ruling."
No Legal Rights for Donald Trump:
"Former President Donald Trump must pay nearly half a billion dollars as a bond to New York State before he can appeal the ruling by Judge Arthur Engoron last week that he must pay $354 million in fines — over $450 million, with interest — for fraud.
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 estate valuations in negotiations with banks.
Though Attorney General Letitia James — who ran for office promising to target Trump — claimed that no one is above the law, her case against Trump marks the only such case in the history of the state. And the staggering fine is likewise unprecedented.
Jonathan Turley points out another astonishing fact at the New York Post: before he can appeal, Trump must pay the whole fine:
Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.
Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.
The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.
Engoron also refused to allow Trump to mount any defense, declaring Trump guilty via summary judgment for the state."
"Oscar Wilde wrote that "moderation is a fatal thing. Nothing succeeds like excess." Justice Arthur Engoron took that line to heart with his absurd imposition of $455 million in fines and interest against Donald Trump and his corporation.
It succeeded wonderfully with New Yorkers, who celebrated the verdict like a popular public execution. It also worked wonderfully to make it difficult to appeal.
Much of the criticism of the decision focused on the unprecedented use of the law and the excessive size of the fine. The New York statute has been on the books for decades and has always been something of an anomaly in not requiring an actual victim or loss to justify disgorgement or fines.
Even the New York Times agreed that it could not find a single case in history where this statute was used against an individual or a company that did not commit a criminal offense, go bankrupt, or leave financial victims.
Engoron then combined that unprecedented application with an equally extraordinary penalty, which is greater than the gross national product of some countries.
He disgorged hundreds of millions in a case where not one dollar was lost by anyone. Indeed, the "victims" wanted to get more business from Trump and are now being prevented from doing so by Engoron.
There is also an added inequity to Engoron's decision.
Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.
Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.
The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.
First, however, Trump must come up with almost half a billion dollars to park with the court. Even with a bond, the high costs of securing a guarantor could come at a premium. It would cost a fortune to the bond holder just to carry the risk even if Trump prevails on appeal."
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