Truly Trumped: Ex-President Has Already Lost His Business, He Now Faces $250 Million in Fraud Case Damages

Former President Donald Trump is currently on trial in New York City for fraud. The trial could conclude with Trump having to pay upwards of $250 million in damages.

The Case Against Trump

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The charges against Trump, filed by New York attorney general Letitia James, alleged that from 2011 to 2021, the former President made false and misleading financial claims that made him look wealthier.

This made it easier for Trump to make deals and get financing. 

A Blow to Trump’s Image

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The ruling and the fallout may do damage to Trump’s image as a successful deal maker and wealthy entrepreneur. 

Not a Jury Trial

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The trial is a bench trial, which means there will be no jury. New York Supreme Court Justice Arthur Engoron, who is presiding over the case, will be the only person making a decision. 

No Chance of Jail Time

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Since it’s a civil trial, there’s no chance of Trump going to prison if found guilty and he doesn’t have to make an appearance before the court.

Trump Already Found Guilty of Fraud

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Engoron already ruled on Tuesday, September 25th, that Trump was guilty of fraud.

The ruling saw Trump, along with his adult sons, see their business certificates canceled, which means that they will no longer be able to do business in the state of New York.

Ruling Deemed “Corporate Death Penalty”

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The ruling, which is extraordinarily rare, has been called the “corporate death penalty” by legal experts.

Trump Vows Appeal

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Alina Habba, Trump’s attorney, vowed to appeal the decision.

High Stakes

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If upheld on appeal, the result could see Trump losing many New York properties, including Trump Tower, a golf course, and a suburban estate.

Trump Calls James Racist

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Trump alleged that attorney general James, who is Black, is racist and that the case was a witch hunt.

No One Is Above the Law

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“My message is simple, James said early Monday, “No matter how powerful you are, no matter how much money you think you may have, no one is above the law.”

A Short Trial?

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The result of a three-year investigation, the trial is set to go until December 22nd, although it will likely not go as long given that Engoron already settled the major question of whether or not Trump committed fraud.

A Three-Year Investigation

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During the investigation, James found that Trump had claimed that 23 of his properties and assets cost hundreds if not billions more than their actual worth.

Trump used these financial statements to obtain favorable deals and make his wealth appear greater than it actually was. 

Endless Legal Woes for Trump

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The case is yet another in a series of legal setbacks for the former President.

Earlier this year, a jury had found that Trump had sexually abused writer E. Jean Carroll and then defamed her in 2022 when he claimed the account was a fabrication.

Trump was ordered to pay Carroll $5 million by a jury. 

Trump Faces 91 Felony Charges

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Trump also currently faces 91 charges divided among four criminal cases. That’s 44 federal charges and 47 state charges, all of them felonies. 

Trump Co-defendant Enters Plea Deal

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On Friday, September 29th, Scott Hall, a Trump co-defendant charged in the Georgia election interference case, took a plea deal in which he will agree to testify in the case against others.

Trump’s Judge Issues an Order that Might Finally Take Him Down

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Federal Judge Aileen Cannon recently issued an order clarifying the rules for handling classified information in former President Donald Trump’s ongoing legal battle about government documents found in his Mar-a-Lago estate, and some see it as a clear indication that Trump will be losing this case. Trump’s Judge Issues an Order that Might Finally Take Him Down

“I’ll Just Follow My Orders” – Biden Rambles Through Another Speech That Leaves People Asking – Who’s Pulling the President’s Strings?’

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President Joe Biden’s recent press conference in Vietnam on September 11th sparked concerns and controversy as he made comments that left many questioning his mental and decision-making abilities. Here’s the full story. “I’ll Just Follow My Orders” – Biden Rambles Through Another Speech That Leaves People Asking – Who’s Pulling the President’s Strings?’

Are Vaccine and Mask Mandates Returning? According to Biden, Very Likely

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President Joe Biden asked Congress for more money to develop a new COVID-19 vaccine, and he may require everyone to get it. Here’s the full story. Are Vaccine and Mask Mandates Returning? According to Biden, Very Likely

Teachers Call Out DeSantis as a “Global Embarrassment” After New ‘Anti-Gay Law’ Means Colleges Were Forced to Drop Psychology

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In a recent development, the state of Florida has found itself embroiled in a contentious debate over the curriculum of its Advanced Placement (AP) psychology course. Teachers Call Out DeSantis as a “Global Embarrassment” After New ‘Anti-Gay Law’ Means Colleges Were Forced to Drop Psychology

“Constitutionally Ineligible” – Trump’s House of Cards on the Verge of Collapse as Supreme Court Could Finally Take Him Down

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Legal experts are debating the relevance of Section 3 of the 14th Amendment, which disqualifies people involved in insurrection from holding office. Some believe it could mean the disqualification of former President Trump from running for office. “Constitutionally Ineligible” – Trump’s House of Cards on the Verge of Collapse as Supreme Court Could Finally Take Him Down

The post Truly Trumped: Ex-President Has Already Lost His Business, He Now Faces $250 Million in Fraud Case Damages first appeared on Back Edge News.

Featured Image Credit: Shutterstock / Drop of Light. The people shown in the images are for illustrative purposes only, not the actual people featured in the story.

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