Will NY Businesses Flee to Florida as New York State Becomes a ‘Legal Banana Republic’: Experts

The absurd ruling in the political persecution of Donald Trump represents the only big business penalized $365 million and shutdown without a showing of any obvious victims and major losses.

On the contrary the banks testified in defense of Trump.

The corrupt judge went out of his way to punish the former president with a worst-case scenario, making it easier for courts to wipe out companies in the future.

Clearly the Democrat elite decided to take out America’s greatest President and kill the greatest city in the world.

Trump’s penalty could cause NY biz exodus to Florida, as New York State becomes ‘legal banana republic’: Experts

NY AG Letitia James and liberal interests in the state appear to be seeking a political ‘death by exposure’ of Trump, analysts said

By Charles Creitz, Fox News, February 16, 2024:

Trump’s ‘breathtaking’ fine in fraud case is larger than budgets of some countries: Jonathan Turley

Fox News contributors Jonathan Turley and Ari Fleischer join chief legal correspondent Shannon Bream to react to Judge Arthur Engoron fining Donald Trump more than $350 million on ‘The Story.’

Legal experts analyzed what they called “breathtaking” civil penalties against former President Donald Trump, Donald Trump Jr., Eric Trump, former Trump Organization Comptroller Jeffrey McConney and ex-CFO Allen Weisselberg – warning other corporations based in the Empire State may realize they could suddenly be put out of business by the state on a political whim.

New York Supreme Court Judge Arthur Engoron found Trump liable for more than $350 million in damages in the fraud suit brought against him and his company by New York State Democratic District Attorney Letitia James.

Trump Sr., the Trump Revocable Trust and Trump Organization were found liable for $60 million, while Trump’s sons and Weisselberg were found liable for $4.01 million each – and Trump Sr. plus several entities including the Trump Organization and the LLC signifying Trump’s Chicago hotel were banned from applying for loans with institutions registered with New York for three years.

The three Trump family members were also banned from serving as executives of any business or legal entity based in New York for a similar length – which is key, as the Trump Organization is housed at its iconic tower at 5 Av and E. 57th Street.
Jonathan Turley on Trump civil fraud verdict: No other company would be subject to this ‘draconian exercise’ Video

In that regard, former Bush White House press secretary Ari Fleischer told Fox News the ban may spur Trump to relocate his entire business empire to Florida, just as he has his primary residence.

“If you’re Eric [or] Donald Junior, what are you going to do?” he asked.

“[Y]ou just say goodbye to New York, which fits a pattern that many successful people have been doing and leaving New York because New York is just too political, too blue and too punitive – you’re seeing that in the business community and among upper income New Yorkers already,” he said – adding the state’s crime wave accentuates the issue.

George Washington University Law Prof. Jonathan Turley further commented to Fox News that Engoron appeared to compound the highest fine figures in most of the areas adjudicated – noting that New York’s civil law in this area is unique because the proverbial crime can essentially be victimless.

“[It’s] an odd one because it does not require that anyone actually lose money. And so James was able to come in here with this [fraud] figure, and she kept on going up.”

Turley said the public and other legal officials may indeed take note of Trump world’s penalty, because, “when you’re imposing fines larger than the budget of some countries, you really have to wonder whether you’ve allowed your thoughts to run away with your judgment.”

“It’s one of the greatest ironies of this case: In the name of protecting businesses in New York, you probably just led to hundreds of businesses looking at potential rentals in Florida because they look and they go, ‘wow, if we fall on the wrong side of the politics in New York, they could sell us off for spare parts’.”

Fleischer noted that New York’s justice system has descended into a quasi-political entity, in that liberals and Democrats have been placed at the highest levers of power for the past few decades.

Continue reading.

Dissolving Trump’s Business Empire, as State Judge Threatens, Would Be Unprecedented Under New York’s Decades-Old Fraud Law

AP’s review of nearly 150 reported cases since New York’s “repeated fraud” statute was passed in 1956 showed that nearly every previous time a company was taken away, victims and losses were key factors. Customers had lost money or bought defective products or never received services ordered, leaving them cheated and angry.

What’s more, businesses were taken over almost always as a last resort to stop a fraud in progress and protect potential victims. They included a phony psychologist who sold dubious treatments, a fake lawyer who sold false claims he could get students into law school, and businessmen who marketed financial advice but instead swindled people out of their home deeds.

Read more.

Who suffered here? There are no victims.

“This is a basically a death penalty for a business,” said a Columbia University law professor, Eric Talley. “Is he getting his just desserts … or because people don’t like him?”

Kevin O’Leary slams Trump’s civil ruling as ‘un-American’ and a shock to the entire real estate industry

In a scathing rebuke of a New York Judge’s decision to fine Donald Trump a staggering $355 million, the entrepreneur and media personality Kevin O’Leary minced no words, denouncing the ruling as “unjust,” “appalling” and ultimately “un-American.

Manhattan Supreme Court Justice Arthur Engoron’s Friday ruling not only slapped Trump with that hefty fine, but also with a temporary ban from conducting business in his native New York.

O’Leary, known for his role on “Shark Tank,” lambasted the decision, arguing that it sets a dangerous precedent for the entire real estate industry.

O’Leary had previously been critical of the months-long fraud case in the media, saying on CNN recently that, “I don’t think this thing will ever survive appeal regardless of what the fine is. This doesn’t even make sense.”

“That fact that he was found guilty, you might as well find guilty every real estate developer on Earth,” O’Leary said in an exclusive interview with The Post.

The judge’s decree bars Trump from assuming any officer or director positions in New York for three years, a move O’Leary sees as detrimental not just to Trump, but also to the broader business landscape.

“I don’t understand where someone got hurt … What developer doesn’t ask for the highest price valued for any building they built?” O’Leary said.

O’Leary said in an exclusive interview with The Post. The judge’s decree bars Trump from assuming any officer or director positions in New York for three years, a move O’Leary sees as detrimental not just to Trump, but also to the broader business landscape.

“I don’t understand where someone got hurt … What developer doesn’t ask for the highest price valued for any building they built?” O’Leary said.

Read more.

Ayn Rand called it.

In this 1961 talk, Ayn Rand argues that “[E]very ugly, brutal aspect of injustice toward racial or religious minorities is being practiced towards businessmen” under America’s antitrust laws. Rand catalogs the injustices of antitrust, decries the scapegoating of businessmen.

An edited version of this talk is available in Capitalism: The Unknown Ideal, a book of essays by Rand and others.

AUTHOR

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EDITORS NOTE: This Geller Report is republished with permission. All rights reserved.

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