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During his 11-week fraud trial before New York Judge Arthur Engoron, Donald Trump practically begged for a harsher sentence. On Friday, his wish came true, and then some.
In a scathing 92-page judgment, Engoron ordered Trump and co-defendants to pay $364 million for defrauding New Yorkers. And that huge number actually understates the price tag. Adding pre-judgment interest required by New York state law, President Trump is looking at nearly $500 million.
Combined with the $83 million a jury ordered President Trump to pay last month for defamation of author E. Jean Carroll, the former president’s empire’s cash reserves likely exceeded even his own account. facing a devastating blow.
read more: Littman: Court of Appeals throws out President Trump’s immunity claim.He could be tried before the election
Like Carroll, people in New York may not have access to the money right away. President Trump has promised to appeal the verdict, but that would require him to pay a fine or at least secure bail.
Nevertheless, this decision places real responsibility on a man who has gotten away with it many times. Engoron’s opinion appears to ridicule Trump’s unresponsive, stream-of-consciousness testimony and paint him as a truant who needs unstinting scrutiny and harsh punishment.
Although the financial aspect of the fine made headlines, it is just one of several ways Engoron defrauded the former president.
read more: Littman: How Donald Trump’s abhorrent personality caused the E. Jean Carroll incident
The ruling further punished Trump and caused him to lose control of his business. Mr. Engoron has appointed a second monitor, described as an independent head of compliance, to join former judge Barbara Jones in overseeing the Trump empire. The net effect is that after a lifetime of doing what you want regardless of the rules, at least in New York, you’re going to get off your perch and look at other people’s decisions about all kinds of business decisions that were previously unilateral. This means you will have to ask for permission.
Engoron has introduced remedies to protect assets currently owed to state residents in the interim. These are no longer about President Trump’s whims.
The judge also prohibited Trump from serving as a director or officer of any New York company for three years. That means he can’t try to escape trouble or scrutiny by forming another company.
The opinion also serves as a body blow to the brand that Trump has spent his life mythologizing. Giants of commerce don’t tend to issue huge fraud judgments or ask someone’s permission to write a check.
The extent to which Trump’s brand is supported by lies is always open to question. After today’s ruling, there are even fewer people supporting the brand.
Mr. Engoron’s judgment was not limited to Mr. Trump himself. His sons also face hefty fines and are barred from holding senior positions at New York companies for two years.
And Trump’s problems are just beginning. A day before the verdict, another New York judge ordered him to stand trial next month in the Stormy Daniels hush money case, which could result in a felony conviction and possible prison time. There is sex. Also scheduled are three of his other criminal trials, a civil lawsuit over the events of January 6, 2021, and the outcome of a potentially devastating tax audit.
Even his only obvious long-term defense strategy (returning to the White House to avoid further prosecution) will not undo much of the damage.
Mr. Engoron’s scathing verdict left no doubt that Mr. Trump’s characteristic arrogance and slash-and-burn politics played a significant role in the verdict. The judge noted his “lack of repentance and remorse,” which he described as “nearly pathological.”
In this regard, he compared President Trump unfavorably to criminal mastermind Bernie Madoff, who at least had the humility to recognize the damage he had done and apologize to the courts and his victims.
Trump, by contrast, only has one speed. He can be expected to continue approaching his campaign and a series of court appearances with a flair for outrageously dishonest boasts. If other cases go the way this one did, it could be his undoing.
Harry Littman officiating. Podcast “Talking Fed”. @Harry Littman
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This story originally appeared in the Los Angeles Times.
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