trump fined $355M for fraud

I have heard of this sort of thing causing massive damage. In this case the fallout may be worse than it sounds.
Trumps wealth is invented, not $ in the bank. Not cash, not shares, not liquid.

He will have to sell off big assets to come up with that money. It won't be the value he has put on them, it will be market price in a fire sale.
The sale will trigger capital gains tax and trump will lose the future income from them.
Add all the other bills he has recently amassed. He will be in for $500M by the time he has finished. And counting. Interest on that is a tsumani.
No bank will want him now.


https://www.abc.net.au/news/2024-02-17/donald-trump-must-pay-543-milllion-in-penalties-ny-judge-rules/103479874

Don't worry your pretty little head. This is not Australia even though we are filled with kangaroos. First there will be an injunction, as he starts the appeals process. I suspect it will be overturned before it reaches the Court of Appeals

Of course he will appeal. That is a given.
When he does appeal. he still has to put $355M in an account.
Whoever wins the appeal gets the cash, but it has to be sitting there.

The judges comments were incisive. Said trumps lack of remorse and complaints/attacking Court members showed he thought he did no wrong and would most likely repeat his fraud.

JMWinPR wrote:Don't worry your pretty little head. This is not Australia even though we are filled with kangaroos. First there will be an injunction, as he starts the appeals process. I suspect it will be overturned before it reaches the Court of Appeals

I sure hope so! This is an abuse of the justice system and an unjust fine! ANY Republican, would be found guilty by Democrats for ANYTHING.

The judges abbreviated comments

......... "failed to accept responsibility" ...........
........ "simply denied reality." ............
............ " complete lack of contrition and remorse borders on pathological" ........ "the frauds found here leap off the page and shock the conscience." ..........

Sprintcyclist wrote:The judges abbreviated comments

.........    "failed to accept responsibility"  ...........
........ "simply denied reality." ............
............ " complete lack of contrition and remorse borders on pathological" ........ "the frauds found here leap off the page and shock the conscience."            ..........

That judge is a disgrace.

Maybe the OP could tell us how the banks were hurt.

...with the loan paid in full.

And maybe he could tell why the after-the-fact government claim is the right valuation of the property; and not the valuation that Trump and the creditors agreed upon.

Maybe, the government was using the Manufacturer's Suggested Retail Price for land?

Or maybe the smirking idiot who claims to be a judge, is fcuked in the head.

Casey Jones wrote:Maybe the OP could tell us how the banks were hurt.

...with the loan paid in full.

And maybe he could tell why the after-the-fact government claim is the right valuation of the property; and not the valuation that Trump and the creditors agreed upon.

Maybe, the government was using the Manufacturer's Suggested Retail Price for land?

Or maybe the smirking idiot who claims to be a judge, is fcuked in the head.

The banks do not have to suffer a loss for fraud to have occurred. This is a legal fact.
Deuschte bank revalued trumps properties to 50% of what he claimed

Sprintcyclist wrote:

Casey Jones wrote:Maybe the OP could tell us how the banks were hurt.

...with the loan paid in full.

And maybe he could tell why the after-the-fact government claim is the right valuation of the property; and not the valuation that Trump and the creditors agreed upon.

Maybe, the government was using the Manufacturer's Suggested Retail Price for land?

Or maybe the smirking idiot who claims to be a judge, is fcuked in the head.

The banks do not have to suffer a loss for fraud to have occurred. This is a legal fact.
Deuschte bank revalued trumps properties to 50% of what he claimed

Who lost money? Anyone? Name one bank or insurance agency or any other financial entity that filed a law suit related to this case. Anyone?