NEW REPUBLIC
Think $83.3 million is a lot of money? Well, hold onto your hat, buster, because this week, New York Judge Arthur Engoron is supposed to announce the penalty he’s slapping on Donald J. Trump in the Trump Organization fraud case.
The case, brought by New York Attorney General Letitia James in 2022, accuses Trump of lying to bankers and insurers about the value of his properties. Last September, Engoron declared in a summary judgment that the evidence clearly said Trump had done so. He wrote in his ruling: “In defendants’ world: Rent regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air; a disclaimer by one party casting responsibility on another party exonerates the other party’s lies. That is a fantasy world, not the real world.”
Last month, Engoron said he was aiming to announce the fine amount by January 31. That’s Wednesday. James is seeking $370 million.
Last week’s damage award in the E. Jean Carroll case was staggering. We had a little office pool going (well, just three of us, and we didn’t actually bet money). I came in highest at $40 million, so under traditional Price Is Right rules, I was the closest, but nevertheless light-years off. That rigged, deep-state jury took all of three hours to award Carroll more than three times what lawyer Roberta Kaplan was asking.
Is there a precedent there for a larger reward than was even being sought? Signs are promising. Engoron, you’ll recall, showed little patience for Trump’s courtroom antics. Earlier this month, he nixed Trump’s attempt to make a closing argument. “Not having heard from you by the third extended deadline (noon today), I assume that Mr. Trump will not agree to the reasonable, lawful limits I have imposed as a precondition to giving a closing statement above and beyond those given by his attorneys, and that, therefore, he will not be speaking in court tomorrow,” the judge wrote. Trump nevertheless managed to blurt out a few sentences of petulant nonsense. “Please control your client,” Engoron advised his counsel.
Bad? Yep. But the knife took another twist into Trump’s flesh last Friday, the same day the Carroll jury threw all that buckshot in Trump’s face. Barbara Jones was appointed last fall by Engoron to monitor some of the Trump Organization’s transactions. On Friday, Jones wrote Engoron a 12-page lettersaying, in part: “I have identified certain deficiencies in the financial information that I have reviewed, including disclosures that are either incomplete, present results inconsistently, and/or contain errors.” So—what’s your bet? Maybe $400 million? What about $500? Who knows?
The money isn’t even the main factor in play, especially considering that Trump probably doesn’t have it and wouldn’t pay it even if he did. No—the nuclear bomb here, the real psychological waterboarding of Donald John Trump, will come if Engoron strips him and his company of the ability to do business in New York state. This option is on the table because Trump was prosecuted under a 1956 law that allows courts the ability to issue a “permanent and plenary ban” on a company if the behavior is egregious enough to warrant it…
