Trump avoids 'corporate death penalty' in civil fraud case, but his business will still get slammed
apnews.com
A New York judge has spared Donald Trump a “corporate death penalty” ruling, but his business did get hit hard with bans and cash penalties.

Donald Trump won’t face the corporate death penalty after all.

A New York judge on Friday spared the ex-president that worst case punishment as he ruled in a civil case alleging Trump fraudulently misrepresented financial figures to get cheaper loans and other benefits.

Still, Trump got slammed hard, facing big cash penalties, outside supervision of his companies and restrictions on his borrowing.

In a pretrial ruling last year, the same judge threatened to shut down much of the Republican presidential front-runner’s business by calling for the “dissolution” of corporate entities that hold many of his marquee properties. That raised the specter of possible fire sales of Trump Tower, a Wall Street skyscraper and other properties.

But New York Supreme Court Judge Arthur Engoron called off the dissolution.

Instead, he said the court would appoint two monitors to oversee the Trump Organization to make sure it doesn’t continue to submit false figures.

  • Flying Squid@lemmy.world
    812·
    9 months ago

    “Slammed” by having a fine realistic enough for his PACs to pay off, banned from doing business in New York for a whole three years, limited supervision and restrictions.

    This is utter bullshit, especially considering his and his lawyers’ behaviors in the courtroom.

    At the bare minimum his assets should have been seized.

    • FenrirIII@lemmy.world
      27·
      9 months ago

      Anything more than a slap on the wrist might encourage us plebs to start having faith in the system.

      • Viking_Hippie@lemmy.world
        10·
        9 months ago

        History PAC can’t pay it, at least not legally

        If you still think that would stop Trump and his cult or that there would be any consequences severe enough to discourage even NORMAL bad actors from doing it, you clearly haven’t been paying attention…

        • HandBreadedTools@lemmy.worldEnglish
          1·
          9 months ago

          The judge ordered a person to monitor over his personal finances and another over the finances of his business. The monitor has access to his current finances as well as every bit of information about the finances he receives. He is prohibited from using his campaign funding, and the monitor will know if he tries to.

  • grue@lemmy.worldEnglish
    562·
    9 months ago

    Anything less than the corporate death penalty is a slap on the wrist. Corporations – in general – do not deserve leniency or second chances!

  • themeatbridge@lemmy.world
    333·
    9 months ago

    1. He’s never going to pay a dime of that money. He will appeal, posting a bond, and delay for as long as he can, and then assuming he can’t get his judges to reduce or eliminate the fine, the money will magically appear, mostly in rubles and renminbi.

    2. He is only prohibited from serving as a director or an officer of a company in New York. Trump doesn’t need a title to tell people what to do.

    3. It’s only for three years.

    Don’t misunderstand, I think it’s good that the fine was high, and the restrictions were as severe as they could have been. The appellate courts already indicated that dissolution would not be upheld on appeal.

    But our justice system is broken. There are no rules for the wealthy and well connected. There are no consequences for brazen crimes and treason, as long as you can get enough idiots to support your candidacy for president.

    • LufyCZ@lemmy.world
      417·
      9 months ago

      1. Have you tried paying a fine in the US with anything else than USD? What are you even talking about

      2. Still a bad look

      3. He’ll probably be dead by then anyway

      It’s probably a much better outcome for the average Joe, since, and people don’t seem to think about this, there are people who work for Trump. The higher ups might and probably are shitty people, but on the lower level, there are regular people trying to pay their bills, and dissolving the whole thing would hurt those the most

      • themeatbridge@lemmy.world
        81·
        9 months ago
        1. I’m saying that if he is finally forced to fork over the cash, it’s going to come from international donations in return for additional state secrets. Or they’ll just Epstein him.
        • LufyCZ@lemmy.world
          22·
          9 months ago

          Russia really doesn’t have the tens to hundreds of millions of USD it’s gonna cost right now.

          There’s a whole war thing going on and their USD accounts are frozen last time I checked.

            • LufyCZ@lemmy.world
              24·
              9 months ago

              Sure, it’s not gonna be suspicious at all when the company’s account receives tens of millions from a random international account.

              Be realistic, you’re free to hate Trump all you want, I don’t like the guy either, but selling state secrets isn’t the same as buying a kitkat at a grocery store

  • Optional@lemmy.world
    9·
    9 months ago

    In any case, Trump already has enough in cash to pay much of that penalty, assuming he is telling the truth about his finances. In a deposition in the fraud case, he said he had more than $400 million in cash.

    lol

  • Gonkulator@lemm.ee
    2024·
    9 months ago

    Ah shit. Be prepared for this entire thread being about people who are apoplectic about the word “slammed” with zero discussion of the content in the article. Its truly a bizarre fixation that intentionally or not serves to blame shift to a kill the messenger vibe.