A New York judge has spared Donald Trump a “corporate death penalty” ruling, but the business did get hit hard with bans and cash penalties.

Donald Trump won’t face the corporate death penalty after all.

A New York judge on Friday spared the ex-president that worst case punishment as he ruled in a civil case alleging Trump fraudulently misrepresented financial figures to get cheaper loans and other benefits.

Still, Trump got slammed hard, facing big cash penalties, outside supervision of his companies and restrictions on his borrowing.

In a pretrial ruling last year, the same judge threatened to shut down much of the Republican presidential front-runner’s business by calling for the “dissolution” of corporate entities that hold many of his marquee properties. That raised the specter of possible fire sales of Trump Tower, a Wall Street skyscraper and other properties.

But New York Supreme Court Judge Arthur Engoron called off the dissolution.

Instead, he said the court would appoint two monitors to oversee the Trump Organization to make sure it doesn’t continue to submit false figures.

  • Flying Squid@lemmy.world
    952·
    9 months ago

    “Slammed” by having a fine realistic enough for his PACs to pay off, banned from doing business in New York for a whole three years, limited supervision and restrictions.

    This is utter bullshit, especially considering his and his lawyers’ behaviors in the courtroom.

    At the bare minimum his assets should have been seized.

    • FenrirIII@lemmy.world
      35·
      9 months ago

      Anything more than a slap on the wrist might encourage us plebs to start having faith in the system.

    • AfricanExpansionist
      173·
      9 months ago

      His PAC can’t pay it, at least not legally. It’s also not clear they have the money on hand

      • Viking_Hippie@lemmy.world
        15·
        9 months ago

        History PAC can’t pay it, at least not legally

        If you still think that would stop Trump and his cult or that there would be any consequences severe enough to discourage even NORMAL bad actors from doing it, you clearly haven’t been paying attention…

        • HandBreadedTools@lemmy.worldEnglish
          2·
          9 months ago

          The judge ordered a person to monitor over his personal finances and another over the finances of his business. The monitor has access to his current finances as well as every bit of information about the finances he receives. He is prohibited from using his campaign funding, and the monitor will know if he tries to.