The former president was handed a lifeline as an appeals court agreed to lower the bond amount in his civil fraud case.

After an appeals court ruled on Monday that Donald Trump could proceed with a much lower amount than the $454 million penalty against him in his civil fraud case, New York Attorney General Letitia James fired back at the former president.

“Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands,” James said in a statement.

  • Jaysyn@kbin.social
    332·
    3 months ago

    Why New York state is suing Trump instead of charging him with crimes

    James seems to be taking this approach, as opposed to a criminal indictment, because New York law empowers the AG to seek damages caused by fraudulent business behavior as a form of consumer protection. The law doesn’t require the AG to identify a victim or even demonstrate anybody suffered harm. Plus, the burden of proof is lower in civil cases than in criminal ones.

    “What makes this statute particularly powerful is that there doesn’t have to be a loss,” Will Thomas, a law professor at the University of Michigan’s Ross School of Business, told Yahoo Finance. “This statute has been used to disgorge profits illegally gained. The government can be allowed to claw back all of those profits. Provable nature is lower, and you don’t have to prove intent or willfulness.”

    A civil suit also prevents James from bumping into the criminal case against Trump’s company that the Manhattan district attorney is prosecuting. Those two offices sometimes work together on criminal cases, as they’re doing on the recent indictment of former Trump adviser Steve Bannon. With regard to Trump, however, they seem to be pursuing complementary approaches instead of overlapping ones.

    So the answer is: it’s easier to win, it’s easier to punish Trump & they can still file criminal charges after a successful civil case if more crimes are uncovered.

    • KevonLooney@lemm.ee
      26·
      3 months ago

      She has already given her evidence of bank fraud to the Justice Department. Every time this fat loser lied on a loan application, it’s a felony. You can get up to 30 years in prison per offense, but I believe it’s usually something like 2 years per instance and rarely prosecuted.

      If they have enough evidence that Trump knowingly lied about the value of his properties, the Justice Department can charge him with a crime for each loan application.

      • snooggums@midwest.socialEnglish
        10·
        3 months ago

        It would be great if they moved on those criminal charges now that this trial has wrapped up except for the consequences part.