The judgment against Trump is wildly excessive. None of his business partners suffered financial losses or accused him of deceit through incorrect financial statements. No trial witness testified that his supposed misrepresentations affected loan terms or prices, nor was there any evidence of him profiting from alleged deception. Yet, Judge Arthur Engoron ordered him to forfeit $355 million in "ill-gotten gains," based on speculative calculations by an expert hired by Ms. James. However, banks confirmed they didn't change loan terms, casting doubt on the accuracy of this assessment.
Rep. Ted Lieu (D-Calif.) tittered on X that #TrumpIsBroke. Lieu questioned Trump's billionaire status, asserting that his inability to pay the judgment exposes his lies about his wealth. Strangely enough, fellow Trump hater Mark Cuban came to Trump’s defense, saying, “Net worth is completely different than cash in the bank… Ted, you know I’m no supporter of Trump. That’s for damn sure, but you are wrong on this topic Ted.” Cuban posted on X that in a “zero interest rate environment” it would’ve been “dumb” for Trump to hoard cash in a bank or money market account.
Judge Engoron unjustly piled on alleged profits from properties Trump supposedly gained through false financial statements, without concrete evidence linking the two. Additionally, he imposed pre-judgment interest from the beginning of the investigation, essentially holding Trump accountable for actions he hadn't even been formally accused of. Add to that the fact that interest is piling up every day that goes by. These decisions undoubtedly provide ample grounds for a robust appeal. But good luck getting any justice in the Empire State.
Regardless of one's views on Trump's conduct, fundamental principles of justice demand due process, including the right to appeal. However, it appears that Attorney General James is bent on expediting Trump's downfall, as she unabashedly promised during her 2018 campaign. This flagrant disregard for procedural fairness should raise serious concerns for anyone engaged in business affairs in New York, given the potential for similar heavy-handed tactics from the attorney general's office.
The New York civil case is nothing short of a kangaroo court spectacle, where justice has been thrown out the window in favor of political vendettas. It’s a real-life drama where the outcome of the script was written long before the gavel ever fell. It's time to stop playing games and start defending the principles that truly matter: fairness, accountability, and the rule of law. All eyes are now on the appellate court, I regret to say I’m not as optimistic as some. Difficult decisions are going to have to be made as the deadline for payment is only days away.