The ruling, made in relation to a $250 million civil case originally brought forward by New York Attorney General Letitia James' office, has been described by some as a"corporate death penalty" due to business licenses being ordered to be rescinded and handed over to independent receivers.
Engoron's order included $7,500 fines for each of Trump's lawyers for their continued arguments in defense of their client, including one that the square footage of an apartment could be subjective.The fines, which were reportedly greater than James had requested, followed efforts by Trump's legal team to move the case to another judge. They also sued Engoron.
"Trump's lawyers need to get a backbone fast as following the Trump legal strategy keeps getting them personally damaged," Lieb said."We've previously seen criminal charges against Trump's attorneys. There have been disbarments and don't forget about the many civil cases.Former U.S. President Donald Trump at a rally on September 20, 2023, in Maquoketa, Iowa.
"Many of the assets that he owns, he has limited to no basis in them like 40 Wall Street, $1 million basis. You also have, say, a $100 million mortgage onto it," Cohen said."He's also going to have to pay Uncle Sam tax on the money between the basis and the sale price.
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