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submitted 8 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

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.

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[-] FlyingSquid@lemmy.world 95 points 8 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 35 points 8 months ago

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

[-] AfricanExpansionist@lemmy.ml 13 points 8 months ago* (last edited 8 months ago)

His PAC can't pay it, at least not legally. It's also not clear they have the money on hand

[-] Viking_Hippie@lemmy.world 16 points 8 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..

[-] HopeOfTheGunblade@kbin.social 4 points 8 months ago

People started a GoFundMe for him.

[-] Viking_Hippie@lemmy.world 2 points 8 months ago

There really is one born every minute.. 🤦

[-] HandBreadedTools@lemmy.world 2 points 8 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.world 62 points 8 months ago* (last edited 8 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 47 points 8 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.

[-] DarkNightoftheSoul@mander.xyz 11 points 8 months ago

Trump's business will get SLAMMED

[-] homesweethomeMrL@lemmy.world 11 points 8 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

this post was submitted on 17 Feb 2024
160 points (96.0% liked)

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