Trump Barred From Doing Business In New York For Three Years
A New York judge ordered Donald Trump, his companies, his sons, and his former CFO to pay $364 million
for engaging in a scheme that inflated Trump’s wealth in financial statements to banks and others. This decision came after a 2½-month trial where Trump was also barred from serving as an officer or director of any New York corporation for three years. The penalty, viewed as a victory for New York Attorney General Letitia James, was for civil fraud, not a criminal offense, thus not involving prison time.
The court found that Trump and his defendants presented financial statements that grossly overstated his assets, including claims about the size of his Trump Tower penthouse and the value of his Mar-a-Lago estate. Trump defended himself by stating that the banks involved conducted their own due diligence and were satisfied with the transactions, asserting that there were no victims in this case.
Trump’s legal team has announced plans to appeal the verdict, criticizing it as unjust and politically motivated. The lawsuit against Trump and his associates was initiated by Attorney General James in 2022 under a state law targeting persistent business fraud. The judge’s decision not only imposes a substantial financial penalty on Trump and his co-defendants but also limits Trump’s business activities in New York.
This case is one of several legal challenges facing Trump, including multiple indictments related to election interference, mishandling classified documents, and other issues. Despite these legal battles, Trump’s bid for the Republican presidential nomination appears unaffected. The penalty and the associated findings underscore ongoing scrutiny of Trump’s business practices and financial representations.
Alejandro Mayorkas, with the Republican majority determined to punish the Biden administration over its handling of the U.S-Mexico border after failing last week in a politically embarrassing setback.
criticized the collapse of a Senate deal on border enforcement and Ukraine aid, attributing the failure to Trump’s influence over Republicans. The breakdown of the deal, which included $60 billion in aid for Ukraine and enhancements to U.S.-Mexico border control, highlighted the challenges Biden faces in advancing his foreign policy and securing bipartisan support. Senate Republican Leader Mitch McConnell admitted the deal’s failure, underlining the divided stance within his party and Trump’s sway. Biden blamed Trump for intimidating Republicans into opposing the proposal, emphasizing the need for Congress to act in the nation’s interest. Despite efforts to broker a compromise that would demonstrate American leadership globally and support allies, the deadlock persists, affecting U.S. aid to Ukraine amid its conflict with Russia. The situation underscores the political dynamics influencing legislative action on national security and immigration, with Biden and Senate leaders facing opposition from conservatives led by Trump.
has proposed a resolution to formally state that former President Donald Trump did not partake in insurrection or rebellion against the United States. This move represents a broader attempt by some Republicans to reinterpret the events surrounding Trump’s actions after the 2020 election, which culminated in a violent breach of the U.S. Capitol by his supporters during the certification of the election results. Over 1,200 individuals have faced legal charges in relation to the Capitol attack.
Trump is eligible to be tried on charges linked to his attempts to contest the 2020 election outcome, dismissing his claims of immunity. This pivotal decision opens the door for potential further legal challenges, possibly escalating to the U.S. Supreme Court, and casts doubt on when the trial might proceed. The unanimous verdict from the court underlined that no individual, including ex-presidents, is exempt from the law, countering Trump’s assertion of absolute authority. This ruling is consistent with prior dismissals of Trump’s immunity defenses, underlining the significant political ramifications of when the trial is set to occur. As Trump seeks a return to the presidency, he is concurrently facing various legal battles, including accusations of holding classified documents unlawfully, efforts to undermine Georgia’s election results, and involvement in hush money payments.