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Donald Trump, the previous president, has consistently been accompanied by numerous legal cases.
He crafted his political image around a story of achieving success through his own efforts. This was before he rode down his cherished golden escalators to announce his bid for the presidency. He used lawsuits and settlements to secure his position in office and to make “deals” that helped build his brand over the course of several decades.
A lengthy trial and a harsh verdict on February 16 have shattered the narrative that he has been telling himself and the public for a long time. This narrative was primarily used to elevate his image in the country and gain the support of millions of voters.
After three years of investigation, a severe ruling was reached, resulting in over $355 million in fines for him and his organizations. With interest, this amount will skyrocket to $454 million and continue to increase until it is paid.
The ruling poses a risk of depleting his available funds, hindering his ability to continue operating in his home state, and jeopardizing his company and real estate investments, which he has heavily invested in and tied to his family’s well-being.
Judge Arthur Engoron made a decision recently following a federal jury’s $83 million ruling against him for repeatedly defaming E Jean Carroll. This is in addition to the $5.5 million he already owes her for falsely claiming she was sexually abused. In a separate case last year, two Trump Organization subsidiaries were fined over $1.6 million for committing fraud over a span of 15 years, as described by prosecutors.
The ex-president has a team of lawyers spread throughout the nation, battling numerous lawsuits and multiple criminal allegations in locations such as New York, Florida, Georgia, and Washington DC. Political action committees linked to Trump have spent millions of dollars on his legal representation and associated costs.
The majority of his wealth is linked to his personal brand, assets, and real estate. However, it is believed that he has approximately $425 million in cash and liquid assets. If he chooses not to use his available cash to cover the recent penalties he faces, his legal troubles could hinder his ability to find a company willing to guarantee his bond for an appeal. This could potentially lead to him having to sell off his other assets, resulting in the removal of the Trump name from his properties and planes.
If elected, his second term in the White House could potentially overlap with the lengthy process of appealing, which could last for months or even years.
The lawsuits brought against him may not be fatal to his business, but he may see his wealth start to dwindle if he continues to be absent from his company’s leadership. He will also be facing court cases on the east coast related to his efforts to conceal scandalous tales of his affair with a pornographic actress, possession of confidential materials, and trying to overturn the outcome of the 2020 election.
In a previous ruling, Judge Engoron accused Mr. Trump’s lawyers of presenting unrealistic arguments. In his recent ruling on Friday, the judge scolded the former president for his refusal to acknowledge any wrongdoing and his lack of willingness to make changes. The judge noted that Mr. Trump and his co-defendants’ lack of regret and repentance could be seen as pathological.
The series of occurrences has highlighted his dependence on his increasing legal conflicts as he runs for president. He is using his criminal accusations and the situation in New York to portray himself as a target of political oppression. He warns his followers that if he fails to stop it, the alleged conspiracy against him will also harm them.
However, the ruling made on Friday has a deeply personal impact, causing damage to both his legal standing and his reputation. This could potentially lead to the downfall of the business he is trying to safeguard and profit from if he wins the election.
During his final day in court, his campaign sent a message expressing regret that he was not still campaigning in Iowa before the state’s caucuses. He accused Democratic officials of wanting to silence him. Shortly after, he spoke from the defence table in New York, quickly and continuously sharing his complaints and criticisms about the judge and attorney general who were suing him.
According to the ex-president, he does not owe anything. In fact, he believes that the government should be compensating him for his experiences.
During the duration of the trial, he openly expressed anger and criticism towards the court’s devaluation of his Mar-a-Lago resort, which he holds dear. Following the ruling on Friday, he vented his frustration in front of cameras outside the resort’s entrance.
Source: independent.co.uk
