Trump avoids 'corporate death penalty' in civil fraud case, but his business will still get slammed
Source: Associated Press
Trump avoids ‘corporate death penalty’ in civil fraud case, but his business will still get slammed
BY BERNARD CONDON
Updated 4:38 PM EST, February 17, 2024
NEW YORK (AP) — 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.
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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.
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Read more: https://apnews.com/article/trump-new-york-business-fraud-lawsuit-1acac26e66862f497782350f172cf970