Another New York Judge has dealt Donald Trump a massive blow.
New York State Supreme Court Justice Arthur Engoron ruled that Trump has committed fraud.
This is the case brought by New York Attorney General Letitia James.
Big Problems
The only good news for Trump in this case is that it is a civil case, so it will just hurt his bank account.
Trump is in no danger of going to jail, but the case will significantly add to his financial woes.
Now the case will move forward, with the trial expected to last into December.
If Trump loses this case, he faces up to $250 million in penalties.
Additionally, his business would be banned from operating in New York.
Trump has already lost the first count brought by James, so James and Trump have to “recommend the names of no more than three potential independent receivers to manage the dissolution.”
The trial will dictate the outcome of the remaining charges, including conspiracy to falsify records, insurance fraud, conspiracy to commit insurance fraud, issuing false financial statements, and conspiracy to falsify false financial statements.
We never expected Trump to win this case because of the venue, so his only hope is the appeals process.
Trump’s campaign is already bleeding money and Trump is not cash fluid, meaning the majority of his money is tied up in his properties.
I hate to say it, but Trump could be forced to start selling off properties to pay his legal bills, which will not be a good look for a presidential candidate.
Source: Washington Examiner
