The courts are finally catching up to a man who has long behaved as though there would never be any consequences for his deceptions.
The courts have finally caught up to a man who consistently believed there would be no repercussions for his dishonest actions.
Arthur Engoron, a judge in New York State, recently delivered an unexpected ruling that sends a clear message to Donald Trump and his fraudulent business practices. Engoron explicitly referred to the former president’s attorneys’ arguments as fantastical, describing the fantasy world that Trump had constructed for himself. The court found Trump’s property valuations and square footage claims to be fraudulent, both of which formed the basis of his alleged success as a business mogul. It is now evident that much of his reputation was built on falsehoods.
What is surprising is not that Trump and his co-defendants, including his sons Donald Jr. and Eric, engaged in fraud, but that they are now facing potential severe consequences for their actions. The scheme described by New York Attorney General Letitia James is simple but effective. Trump would intentionally undervalue his properties when seeking tax reductions and inflate their valuations when pursuing loans, ultimately boosting his net worth and obtaining favorable loan terms. Evidence of this pattern had already been uncovered, but James’s case provided even more damning information.
In response to the charges, Trump’s legal team argued that no harm was done. They contended that the banks providing the loans still profited, partly due to the higher fees imposed on a customer with multiple bankruptcies. Engoron expressed his outrage at these repeated frivolous arguments from Trump’s attorneys. He even fined the lawyers for their conduct.
Furthermore, Engoron granted the attorney general’s request to revoke business certificates held by Trump and his family. If this ruling stands, Trump could potentially lose control of his iconic properties, including Trump Tower and 40 Wall Street. While Trump’s attorney Christopher M. Kise complained that the decision aimed to nationalize their business empire and seize private property, it is essential to note that Trump would still technically own the buildings but would be unable to make financial decisions affecting them. The ruling may also prompt Trump’s business to cease operations in New York State, considering its extensive holdings across various entities.
Engoron’s ruling does not conclude the case but rather narrows down the issues for an upcoming trial. During this trial, the question of whether Trump should be fined for overvaluing his properties will be answered. Letitia James has requested a fine of $250 million, a substantial sum that Trump would easily be capable of paying if he truly is the billionaire he claims to be.
The potential damage to Trump’s reputation and psychological well-being may be the most significant blow. While he has portrayed himself as a victim of political persecution, being exposed as a fraud does him no favors. Trump had operated within his fantasy world for decades, causing it to appear almost real. The idea of facing consequences seemed remote, both to Trump and his critics.
Although the civil case in New York is separate from Trump’s other legal challenges, Engoron’s ruling indicates that the courts are finally catching up to a man who has long acted as though he could deceive without any repercussions. Trump has continuously tried to convince the American public of falsehoods, such as winning the 2020 election, the theft of the election from him, his entitlement to classified documents, and his self-proclaimed status as the greatest president in history. While this may be his fantasy world, the real world has a way of intruding.
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