New Yorkers Silently Worrying Over Ramifications of Trump Ruling

The Epoch Times Header

Business insiders wonโ€™t say it out loud, but many worry that they could face financial ruin if they run afoul of the politically powerful in New York.

Mondayโ€™s dramatic bond reduction for former President Donald Trump did nothing to dissipate the dark cloud that his civil-fraud case has cast over New York business deals.

Although investors wonโ€™t publicly admit it, the case is having a chilling effect, said Charles Trzcinka, professor of finance at Indiana University-Bloomington.

โ€œIf you talk to people in this market, they are very, very upset โ€ฆ and these are people who are neutral or even opposed to Trump,โ€ Mr. Trzcinka told The Epoch Times. โ€œTheyโ€™re just angry about it.โ€

In his role at the university, Mr. Trzcinka said he places students in the corporate lending market in New York, making him aware of trends in that sphere.

An appeals courtโ€™s decision to slash the bond by about 60 percent, reducing it to $175 million, still left a massive penalty intact while President Trump continues a legal challenge of Justice Arthur Engoronโ€™s ruling.

Judge Engoron ruled that President Trump and his associates fraudulently overvalued their assets. But Mr. Trzcinka said anyone who thinks President Trumpโ€™s activities in that case were irregular or fraudulent may lack an understanding of typical New York business transactions.

A source familiar with the case explained to The Epoch Times that, normally, business-related cases are handled in the New York courtsโ€™ commercial division.

There, cases are decided by judges who have specific, โ€œsophisticatedโ€ knowledge of commercial law and business practices.

But the case didnโ€™t go that route because New York Attorney General Letitia James found a novel way to use New Yorkโ€™s anti-fraud law.

Researchers examined other alleged fraud cases in New York over a 70-year period and found the Trump case stands alone. The Trump Organization was the only company that confronted the possibility of being forced out of business despite no victim suffering major financial harm.

Because of Ms. Jamesโ€™ unusual application of the law, the case was channeled to a court that would rarely, if ever, handle business-related matters.

Thus, the source said, โ€œThis case proceeded in just a highly irregular fashion from the start.โ€

Byย Janice Hisle,ย Catherine Yang

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Beijing and Moscow Double Down on Propping Up Tehran, Threaten to Give It Nukes

As anyone who understands how these things unfold could...

The Looming Threat To Our Homeland

After success of โ€œOperation Midnight Hammer,โ€ where U.S. military bombed Iranian nuclear facilities, the threat to America has never been greater.

Trumpโ€™s Bold Strike on Iran: A Necessary Move for Global Securityย 

Trumpโ€™s airstrikes on Iranโ€™s nuclear facilities have been hailed as a courageous and necessary action to safeguard American interests and global stability.

Groundhog Day came late this year to the Land of Smiles.

itโ€™s the same rigmarole, on whatever pretext, the army commandeers the Thai state with vague promises to restore democracy at some unspecified future date.

Resource number one

Russia has an unsustainable birthrate worsened by mortality rate of Russian males through war and alcoholism. One solution, steal young children from other countries.ย 

Boeing, FAA Share Blame for Door Panel Flying Off During Alaska Airlines Flight: NTSB

The sudden midair door panel blowout on Alaska Airlines flight last year stemmed from failures by Boeing, its supplier Spirit AeroSystems, and the FAA.

RFK Jr. Says Pregnant Women Can Get COVID-19 Vaccine If They Choose To

Pregnant women can get COVID-19 vaccines, even after CDC stopped recommending shots during pregnancy, Sec. RFK, Jr. told members of Congress.

Texas Governor Signs Law Requiring Warning Labels on Some Foods

Texas is requiring companies to add warning labels to some foods, under the Texas MAHA legislation bill signed into law by Gov. Greg Abbott.

21.8 Million US Seniors Paying for Expenses With Only Social Security Income: Survey

An estimated 21.8 million senior citizens in America make ends meet solely using their social security funds, The Senior Citizens League (TSCL) said.

Trump Arrives in Netherlands for NATO Summit, With Defense Spending High on Agenda

President Donald Trump arrived in Amsterdam on Tuesday to attend the NATO summit, which is being held in The Hague from June 24 to 25.

Major Victory for Trump Administration and the American People on Deporting Criminal Illegal Aliens to Third Countries

Supreme Court decision allows DHS to deport criminal illegal aliens who are not wanted in their home country to third countries who've agreed to accept them.

No Changes Planned for FDAโ€™s Vaccine Advisory Committee โ€˜At This Timeโ€™: Spokesperson

There are no plans to remove any members of the panel that advises the FDA on vaccines, a spokesperson said on June 20.

Trump Says Trade Deals Expected With India and Pakistan

President Trump expects US will sign trade deals with India and Pakistan, signaling growing momentum in push to reshape global trade through tariff diplomacy.
spot_img

Related Articles