Judge Arthur Engoron’s ruling that former President Donald Trump must pay $354 million in fines, $450 million with interest, for fraud was a mindboggling decision. Sued under an obscure NY statute that requires no harm done and criminalized real estate valuations in NY, Trump is now the only case in state history.
Jonathan Turley of the New York Post explained this is little more than persecution.
“Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio. Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.”
The bank involved already said they would have lent Trump the money at the “correct” valuations anyway. The loan was paid in full and on time, so there was no damage done. A lawsuit like this sends a message to the American people. With Judge Engoron refusing to allow Trump to defend himself and declaring his decision via summary judgment for the state, this reads more like extortion than a court case.
Getting this kind of cash on short notice is difficult, even for someone like Trump. This level of excessive fine brings about important questions about the statutes of the law as well as constitutional issues. Being forced to put up the money before he can appeal is damn near impossible and certainly punitive.
A ruling like this needs to be examined by a higher court because every bit of this case, as well as the other cases brought against Trump, is nothing more than a new way to try and keep him from demolishing Biden in this year’s Presidential election.
