UPDATE: Tuesday, Feb 20, 2024 · 11:55:37 AM +00:00 · AlyoshaKaramazov
CBS piling on. Showing the 30 jurors effects on him. It’s funny that I never, ever feel one scintilla, one iota, one atom of pity for this “man”. He richly deserves everything he’s getting. I show him no mercy, because he shows none for others.
Trump's losses have come in state and federal court, civil and criminal, in rulings by juries and judges. A total of 30 jurors in three cases have unanimously ruled against Trump or his company. One of those juries was composed of citizens from heavily Democratic Manhattan, but two came in federal court in the Southern District of New York, with a pool of jurors from more politically diverse suburbs and exurbs.
The list of Trump's legal losses in New York is already lengthy:
- In December 2022, a Manhattan jury found two Trump Organization companies guilty of 17 felonies related to tax evasion. The company was ordered to pay a $1.6 million fine and the case landed its former CFO behind bars.
- On March 30, 2023, a New York grand jury in Manhattan indicted Trump on 34 felony counts of falsification of business records.
- Five weeks later, a federal jury in New York found Trump liable for sexual abuse and defamation in one of two civil lawsuits filed by the writer E. Jean Carroll. Trump was ordered to pay her $5 million.
- In September 2023, a state judge found Trump and his company liable for a decade-long fraud scheme in a pretrial ruling.
- In January, another federal jury found Trump liable for defaming Carroll. The jury awarded her another $83 million.
- On Friday, the judge in the civil fraud case issued his final ruling, saying Trump must pay the state $354 million, plus nearly $100 million in interest.
The fact that these defeats have all come in the Big Apple is not lost on Trump. He railed against his hometown in comments outside a Manhattan criminal courtroom on Feb. 15.
Donald Trump now owes over $half a billion (including interest) in jury (and judge) awards, for his three unsuccessful civil suits. Lawrence O’Donnell has stated that the interest ALONE comes to about $1million PER WEEK.
So…….that GoFundMe drive, in which $84,000 was raised on the first day, doesn’t even cover the daily interest he already owes on those damages.
So, what now?
Well, I keep seeing articles in major publications parroting Trump’s claim that he has $400,000,000 in ready cash.
So, I looked up where that number originated from.
And…………...it’s all in his mind.
But fraudulent financials are why he got sued by Letitia James in the first place.
And with 15 bankrupted businesses, a closed “university” with $25mil payout to “students,” a defunct “foundation,” and a corrupt presidency later, he isn’t doing any better financially.
Oh, he says he’s never been better. Mar-a-Lago is worth $1.5bil, he says. He could sell it to the Saudis in a NY minute.!11!!!1
Speaking…………..of…………..New York……………
When seven men and two women put their heads together in a Manhattan federal courthouse last week, to decide how much of Donald Trump's money to give E. Jean Carroll, they had the benefit of guidance from a top expert on the former president's finances.
That expert was Donald Trump.
The day before awarding Carroll $83.3 million in damages — Trump's penance for calling her a lying "whack job" when she told the world he'd sexually assaulted her — jurors heard, firsthand, how rich he was.
In fact, one of the last things Carroll attorney Roberta Kaplan did before resting her defamation case against Trump was to hit play on a video of him bragging about his stacks of cash.
It was as good as parading Trump before the jury with a "kick me" sign taped to his back.
"We have a lot of cash," Trump boasted in the clip that Carroll's jurors saw last Thursday morning.
"I believe we have substantially in excess of $400 million in cash, which is a lot for a developer," Trump bragged, leaning toward the camera from his seat at a conference table.
"Developers usually don't have cash," Trump eagerly went on. "We have, I believe, 400 plus, and going up very substantially every month."
[...]
Not the smartest legal strategy
[...]
His defense against New York's accusations that he fraudulently inflated his wealth to banks was to insist, under oath and on tape, that his numbers should have been even higher.
"You're saying I built up numbers," Trump told state officials in the deposition. "Well, it turned out I didn't because the numbers are much higher than they were."
Carroll's verdict needed to hurt — or else it would be pointless
And this all happened BEFORE the jury’s decision on his NY fraud trial.
Oh, and remember this?
David Nadelle
Mon, Oct 23, 2023
“With an estimated $2.6 billion fortune, he is $300 million shy of the cutoff for The Forbes 400 ranking of America’s richest people, the annual measurement that Trump has obsessed over for decades, relentlessly lying to reporters to try to vault himself higher on the list,” Forbes’ Dan Alexander wrote.
That was almost 4 months ago.
His net worth hasn’t gone in the ↑ direction, since.
Let’s see, if you’re worth $2.6bil and you just got whacked with $562mil in judgements, that’s a loss of nearly 21% of your wealth.
The verdict in the civil fraud trial requires Trump to pay interest on some of the deal profits he has been ordered to give up. New York Attorney General Letitia James, who brought the case, said the interest payments totaled $99 million and would “continue to increase every single day until it is paid.”
Between Friday’s ruling and the two judgments in Carroll’s case, Trump would be on the hook for about $542 million in legal judgments.
And he’s got debt coming due this year.
And nearly a $billion in 2028.
He can’t borrow money from any New York State Banks. That’s part of his punishment.
And any money he CAN borrow, or gain from asset sales, must be approved by his new best friend, Judge Jones. The monitor who’s been promoted to a three-year term.
Justice Engoron did let Trump off the hook as far as rescinding his dissolution of Trump’s corporate entities.
But Trump just got switched from a corporate “death penalty” to a corporate life in prison. I just don’t see how he survives three years of non-operation. And he can’t simply move everything to Florida either.
In short…….
The down-side for the world, is………….
A cornered rat will do anything to survive.
And a cornered rat who’s bleeding his wealth, will do even more.
But fear not:
His NY Hush-money CRIMINAL case begins on March 25th, 2024
Aileen Cannon just gave a thumbs-down on another (BIG) delay in his Documents case.
And although his D.C. CRIMINAL case won’t start in March, it will surely be over before the election, and quite possibly before Trump is crowned king of the GOP at their convention in July.
They’re already giving over the RNC to him and his daughter-in-law.
They’re putting all their eggs in Trumpty Dumpty’s basket
Again.
Trump hasn’t won anything since November 2016.
And he needed Russia and the Director of the FBI to do THAT………..
And………….there’s this
Up and coming for Trumpty Dumpty:
MORE:
apnews.com/…
www.wsj.com/…
www.forbes.com/…
In addition to the $355 million penalty — payback of what the judge deemed “ill-gotten gains” from his spurious financial statements — Trump is required to pay interest on that amount.
At an annual rate of 9%, as prescribed by New York law, that adds up fast.
James’ office calculates that, to date, Trump owes an additional $98.6 million in interest, bringing his total penalty to $453.5 million. The interest will keep accruing until Trump pays.
In his ruling, Engoron ruled that the interest Trump owes on about half of the total penalty amount, pertaining to loan savings, can be calculated from the start of the investigation in 2019. Some interest on the remaining amount, which pertains to more recent transactions, can be calculated starting in May 2022 or June 2023.
WHY DOES TRUMP OWE SO MUCH?
Engoron found that Trump’s phony wealth claims were critical to his success, affording him lower loan interest rates and allowing him to build projects he wouldn’t have otherwise been able to finish. The judge determined that those savings and windfall profits were “ill-gotten gains” and ordered him and his co-defendants to cough them up to the state, with interest.
Trump, both individually and as the owner of various corporate entities, must pay:
— $168 million, plus interest, in savings on loans he obtained using his inflated financial statements for a golf resort near Miami, a Chicago hotel and condominium tower, a Washington, D.C. hotel and a Manhattan office building. Trump obtained three of the loans through Deutsche Bank’s private wealth management unit, which offered lower interest rates than its commercial real estate division, and used his financial statements to show the bank he was wealthy and a good credit risk.
— $126.8 million, plus interest, in profit from selling the Trump International Hotel in Washington in May 2022 to a company that now operates it as a Waldorf Astoria. Trump used $170 million of the $375 million to pay off a loan on the property. Other proceeds went to his children.
— $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Engoron noted in his ruling that the buyer, Bally’s Corporation, stands to pay Trump an additional $115 million if it obtains a casino license for the property. However, he did not say if he would require Trump to give up that money, too.
Trump’s sons, Eric and Donald Jr., must each pay a little over $4 million, plus interest, to the state for their shares of the Washington hotel sales. Weisselberg, the former Trump Organization finance chief, was ordered to pay $1 million — half of the $2 million severance he’s receiving.
HOW WILL TRUMP’S APPEAL UNFOLD?
Trump isn’t able to appeal the decision just yet because the clerk’s office at Engoron’s courthouse still has to file paperwork to make it official.
Once that happens, Trump can file an appeal with New York’s Appellate Division, a mid-level appeals court just above Engoron’s trial court in the state’s judicial hierarchy. His lawyers are almost certain to ask for an immediate stay — a legal term for an order halting enforcement of Engoron’s decision while the appeals process plays out.
Under state law, Trump will receive an automatic stay if he puts up money, assets or an appeal bond covering the amount he owes. The appeals process typically takes months, if not a year or more. If Trump is unsuccessful at the Appellate Division, he can ask the state’s highest court, the Court of Appeals, to consider taking his case.