Donald Trump may come out shining after his bruising civil fraud trial that hit him with an enormous fine of almost half a billion dollars, a legal analyst says.
‘$4 Billion Payday’
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The former president might even make $4 billion as part of an upcoming deal — more than enough to pay off a series of otherwise crippling fines, says retired lawyer and author David Moskowitz.
‘Victory’ for Trump
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In an opinion article for USA Today, Moskowitz — author of The Judge and the President: Stealing the 2020 Election, a book that looks at the fallout of the 2020 election that Trump lost to Joe Biden and indictments against Trump — argues that Trump will come out victorious after his recent legal battles.
Verdict ‘Not Fatal’ Blow
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He writes that despite the New York Judge’s “decision [that] imposes a hefty set of sanctions, I do not think it will be fatal to either Trump’s finances or his business organization.”
The Fraud Trial
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Trump, his adult sons Donald Jr and Eric and former executives of their Trump Organization real estate company were found guilty of committing “years of fraud” by lying about the value of their assets to get favorable loans and insurance. Judge Arthur Engoron appointed a monitor to oversee the business and canceled some of its licenses. And he fined the defendants $354 million, but with prejudgment interest, the sum rises to over $450 million.
Appeal of Verdict
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Trump has appealed Judge Engoron’s decision, and meanwhile the fine amount rises by $112,000 per day until it is paid. Trump lawyer Alina Habba said on Monday that she was asking the appeal court to “overturn this egregious fine and take the necessary steps to restore the public faith in New York’s legal system.”
Basis for Appeal
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Trump’s legal team said in a court filing that the basis for their appeal was potential “errors of law and/or fact” in Judge Engron’s ruling and if his Manhattan court had “abused its discretion” or “acted in excess of its jurisdiction.”
Trump ‘On Cliff Edge Before’
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Moskowitz notes in his USA Today article that it’s not the first time that Trump has faced seemingly insurmountable problems. He writes: “Trump has been on the edge of the cliff before. For example, Trump-owned companies operating in Atlantic City filed for Chapter 11 four times between 1991 and 2009. But none of them proved fatal to Trump’s real estate empire.”
‘Masterful’ Trump
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He said: “Trump has been masterful in converting his numerous litigation hurdles into opportunities for campaigning and fundraising. He portrays himself as the victim of malicious enemies rather than the perpetrator of fraudulent business activities. Most of his supporters do not believe he committed fraud.”
Trump’s Merger Plan
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As for Trump’s potential to reap $4 billion in a deal, the former lawyer says it is due to the approval of a merger by the Securities and Exchange Commission of Trump Media & Technology Group and Digital World Acquisition Corp. The former is an entity that owns Trump’s Truth Social network, which he set up after being banned from Twitter in the wake of the January 6, 2021, riots at the US Capitol. And the latter is a “blank check” enterprise formed to acquire businesses and raise capital in initial public offerings on stock exchanges. Moskowitz estimates that if the newly merged company floats, it could net Trump in the region of $4 billion.
‘Will Trump Survive?’
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Moskowitz said that if “Trump wins reelection, he’ll be able to shelve the federal criminal cases or even pardon himself. He also may be able to negotiate a plea deal in the Georgia case on trying to steal the 2020 election, avoiding prison and allowing him to continue as president. The $4 billion question is: Will Trump survive yet another crisis?”
Trump’s Other Problems
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Trump, 77, has also been hit with an $83.3 million fine after being found guilty by a jury in New York last month of defaming writer E. Jean Carroll. And he has been indicted four times and faces a total of 91 criminal charges that could send him to prison for the rest of his life if found guilty. Trump denies all the charges and says they are “politically motivated” by Democrats trying to stop him from becoming president again.
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