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Trump is cornered financially due to lost control of company.

1 min read
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TLDR:

  • Trump Organization ordered to pay $364 million in damages and Trump barred from running business in New York for 3 years.
  • Legal liabilities growing for Trump impact his ability to finance presidential campaign.

In a recent ruling by New York State Supreme Court Justice Arthur Engoron, the Trump Organization was ordered to pay $364 million in penalties and former President Donald Trump was barred from any role in running a business in New York State for three years. This ruling severely impacts Trump’s ability to maneuver financially, especially as he faces growing legal liabilities and a presidential campaign to run.

New York Attorney General Letitia James had requested the financial penalty and ban on Trump and his children from running any company in New York, based on allegations of fraud in misrepresenting asset values. The ruling also appoints an independent monitor and compliance officer for the Trump Organization.

This ruling comes as part of a string of legal and financial blows for Trump, including other civil judgments and the mounting legal costs for various criminal cases. With limited control over his real-estate empire and mounting legal bills, Trump’s ability to finance his presidential campaign and handle debt payments on high-profile buildings could be severely compromised.

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