Trump, who has not been in the headlines for a long time, finally broke the big news in the past two days:
Trump was fined US$364 million by a New York court because he was found guilty of financial fraud, and
nine of his affiliated institutions were banned for three years. When applying for a loan in New York State, he cannot serve as CEO of any company in New York State within three years.
(Trump appeared in court)
Two sons, Eric and Trump Jr., were also fined $4 million each, and Trump’s former chief financial director was also fined $1 million.
Trump has thirty days to collect the fine. Including interest, the total amount to be paid may be as high as $400 million.
Such a verdict means that in the next three years, Trump will basically be cut off from New York State’s financing channels, and he will inevitably suffer heavy bleeding in the short term...
(New York prosecutors accusing Trump)
Regarding Trump’s financial fraud The lawsuit has been going on for several months.
The prosecutor mainly accused him of falsifying financial data between 2011 and 2021.
Specifically:
Trump falsely reported many assets under his name and exaggerated these assets far beyond their actual value in order to obtain more loans from banks and obtain financing at lower interest rates.
The court found that the amount Trump falsely reported was quite shocking. Here are a few simple examples:
The court believed that the actual value of Trump Tower in New York was only $66 million, but Trump falsely reported it as $200 million, which was nearly three times the amount.
(Trump Tower, New York)
As for Mar-a-Lago in Florida, the court believed that the actual value was only 18 million US dollars, but Trump also falsely reported it to 420 million US dollars, and even once inflated the price to 1.5 billion US dollars.
(Mar-a-Lago)
Counting other falsely reported assets, the total amount of falsely reported assets exceeds the actual value by 2.2 billion US dollars...
So on February 16, the New York court made a judgment, and the fine of nearly 400 million was not a single amount. It was a small amount, but he could probably get it if he gritted his teeth.
According to an estimate by Forbes magazine at the end of last year, Trump’s net worth is US$2.6 billion, mainly derived from the real estate and golf industries.
has a combined cash and liquid assets of $640 million on hand, with a golf industry valuation of $870 million. Including real estate worth 690 million in New York, the social media and brand valuation is about 160 million.
If you think about it this way, it’s not a big deal if you can’t afford a fine of US$400 million.
But to have such a big piece of flesh taken away, Trump is naturally full of resentment.
Last night, Trump complained on his own social media truth social.
He wrote a long short essay eloquently, and the general content is:
The Democratic Party controlled, corrupt, biased judges and prosecutors worked together to plot against him. All this can be called a shame to the New York State legal system.
(Trump complained about the New York legal system)
later defended some specific details. For example, talking about his Mar-a-Lago, Trump believed, "The court said that Mar-a-Lago is only worth 18 million, which is simply ridiculous!"
"I am an innocent person and I was persecuted. What happened here is that they plotted against me!"
(Trump argued that he was "calculated")
Finally, Trump certainly did not forget to take advantage of the opportunity. Criticize the opponent in the election:
"We cannot allow injustice to prevail. We must continue to fight the bad guy Biden to the end and make America great again (maga)!"
(Trump attacks the Democratic Party)
The short composition has written a lot of content, to sum up Just one core meaning:
Trump did not commit the so-called "financial fraud". Everything was a vicious attack launched by the Democratic Party to control the New York legal system in order to win the election. He will definitely appeal again!
While Trump himself is still busy defending his financial fraud case, there are already people on the Internet who are committing fraud in his name.
On the well-known crowdfunding platform "gofundme", someone posted a project to raise US$355 million in fines for Trump. Someone actually paid for it, and US$11,629 was raised in just one day.
Some people on social media couldn't help but ridicule that the person who gave the money must be too stupid.
(Page for crowdfunding to pay Trump's fine)
But on the other hand, Trump's popularity is indeed ridiculously high. With a fine of nearly 400 million US dollars, some people are worried about him....
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