Judge Engoron’s Order Deals Severe Blow to Trump Empire
With a 92-page order issued by Judge Arthur Engoron, former President Donald Trump faces a grim reality as he was hit with a staggering $355 million fine, which could rise to over $450 million with interest. Beyond the financial penalty, Trump and his sons have been stripped of their ability to lead businesses or seek financing for two to three years, leaving the Trump Organization in deep legal and financial trouble.
New York Attorney General Applauds the Ruling
New York Attorney General Letitia James praised the penalties as effective measures to halt further fraudulent activities by the Trump Organization. The ruling has plunged the former president’s business empire into uncertainty as he faces mounting legal challenges and a costly presidential campaign.
Trump Plans to Appeal Despite Severe Consequences
Despite the heavy blow, Trump remains resolute in his stance to appeal the ruling. His legal team vows to challenge Engoron’s decision in higher courts, expressing confidence in a reversal of the judgment. The appeal process is expected to be lengthy, with potential implications for Trump’s financial standing.
Financial Crunch Looms for Trump Empire
The financial implications of the ruling could spell trouble for Trump, who may struggle to pay off the massive fines. With additional legal obligations, including a recent civil suit ruling requiring payment to columnist E. Jean Carroll, Trump’s liquidity is at risk. Potential cash crunches and limited access to capital may force him to consider selling off assets to meet the financial penalties.