NYC Protest Begins🔥Truckers Block New York! Gov Kathy Hochul Deploys National Guard: LATEST UPDATE!
Summary
TLDRThe transcript discusses the ongoing legal battle involving former President Donald Trump and his business practices. Trump and his associates have been ordered to pay over $350 million in damages for allegedly inflating assets to secure loans. The New York Attorney General, Letitia James, has been vocal in her pursuit of the case, which Trump's attorney, Alina Habba, claims is politically motivated. The case has implications for New York's business climate, with concerns raised about the state's regulatory environment and the potential for a chilling effect on entrepreneurship. Trump's appeal against the civil fraud verdict continues, with the former president's team preparing to challenge the ruling.
Takeaways
- 📜 Former President Trump and his codefendants have been ordered to pay over $350 million in damages following a civil fraud trial in New York.
- 🚨 New York Governor Kathy Hochul is deploying state personnel, including the National Guard, to address protests and security concerns in the city.
- 🏛️ The New York Attorney General, Leticia James, accused Trump of a decade-long fraudulent scheme to inflate asset values for financial gain.
- 🔊 Trump's attorney, Alina Habba, claims the lawsuit is politically motivated and that the appeal record is strong, indicating confidence in an overturn on appeal.
- 💼 The ruling could potentially force Trump to forfeit a significant portion of his wealth and lead to a reshuffling at the Trump Organization.
- 🚫 The New York appellate judge rejected Trump's request to pause the $454 million civil fraud penalty but allowed a temporary delay on rulings affecting his business operations.
- 🏦 Major investment firms are reportedly leaving New York, with concerns about the legal environment and potential for similar cases against other businesses.
- 🏙️ The situation has raised questions about the future of entrepreneurship and investment in New York, with some considering more business-friendly states.
- 📉 The financial hit from the penalty could impact Trump's ability to raise funds and maintain his business ventures.
- 🗣️ There is ongoing debate about the fairness and precedent set by the case, with some arguing it could deter investment and entrepreneurship in New York.
Q & A
What is the update on former President Trump's appeal against his New York civil fraud verdict?
-A New York appellate judge rejected former President Trump's request to pause the $454 million civil fraud penalty, but he won a temporary delay on rulings that banned him from running a business in New York state and taking out loans from New York banks.
How much was Donald Trump and his family business ordered to pay in penalties?
-Donald Trump and his family business were ordered to pay more than $350 million in penalties for fraudulently inflating his wealth for financial gain.
What was the accusation against Trump by New York Attorney General Leticia James?
-Leticia James accused Trump of engaging in a decade-long scheme to fraudulently and falsely value his assets to acquire loans at bargain rates.
What was the reaction of the New York Times to the situation?
-The New York Times reported that several major investment firms
Outlines
📰 Trump's New York Civil Fraud Verdict Update
The video discusses the recent developments in former President Trump's appeal against the New York civil fraud verdict. Trump and his co-defendants have been ordered to pay over $350 million in damages. The New York attorney general, Leticia James, accused Trump of a decade-long scheme to inflate his assets for financial gain. The video also mentions the protests in New York City and the deployment of state personnel and the National Guard to manage the situation. Trump's attorney, Alina Habba, argues that the case is politically motivated and that the appeal record is strong.
💰 Trump's Financial Strategy Post-Verdict
This paragraph focuses on the financial implications of the verdict and Trump's potential strategies to deal with the $350 million penalty. Trump's attorney, Alina Habba, suggests that the amount requested by James was inflated due to the wealth of the Trump organization. Habba also criticizes James's motives and assures that the appeal process will reveal the truth. The conversation touches on the potential impact on Trump's business empire and the political implications of the case.
🏛️ The Legal and Political Fallout
The discussion continues with concerns about the legal and political consequences of the case. The speaker criticizes the prosecution of Trump as a form of political abuse and warns of the broader implications for prosecutorial misconduct. The conversation also addresses the potential damage to New York's reputation as a business-friendly state, with references to major investment firms distancing themselves from the situation. The speaker calls for accountability and a return to the rule of law.
🏦 Impact on New York's Business Climate
This section of the video script explores the potential impact of the verdict on New York's business climate. Kevin O'Leary, a businessman and television personality, expresses concern about the message the verdict sends to entrepreneurs and investors. He argues that the case could deter investment in New York due to the perception of a hostile legal environment. The conversation also touches on the broader implications for the state's economy and the need for better management to prevent New York from becoming a 'flyover state'.
🤝 Entrepreneurship and the Future of New York
The final paragraph discusses the importance of entrepreneurship and the potential risks to New York's economy due to the legal actions against Trump. The speaker emphasizes the need for a fair and supportive judicial system to protect investors and entrepreneurs. The conversation highlights the concerns of business owners and potential investors about the future of doing business in New York, with calls for the state to improve its regulatory environment and tax policies to remain competitive.
Mindmap
Keywords
💡Civil Fraud Verdict
💡Appeal
💡New York Attorney General
💡Trump Organization
💡Legal Challenges
💡Political Stunts
💡Victimless Crime
💡Prosecutorial Abuse
💡Investor Confidence
💡Rule of Law
Highlights
Former President Trump and his codefendants ordered to pay over $350 million in damages by a New York judge.
The damages are related to a civil fraud case where Trump was accused of falsely valuing his assets to acquire loans at bargain rates.
New York Governor Kathy Hochul announced efforts to address the shortage of workers and the protests in New York City.
The New York attorney general Leticia James, a Democrat and vocal critic of Trump, brought the lawsuit against him.
A New York appellate judge rejected Trump's request to pause the $454 million civil fraud penalty.
Trump won a temporary delay on rulings that banned him from running a business in New York state and taking out loans from New York banks.
The ruling could force Trump to forfeit a significant portion of his wealth and lead to a reshuffling at the Trump Organization.
Trump's attorney, Alina Habba, argues that the lawsuit is a political stunt and that the record for the appeal is strong.
Habba claims that James's goal was to hurt Trump, his family, and his company, and that this goal will not succeed.
The case is described as a victimless crime, with no one losing money or reporting to the police.
Investment firms are reportedly leaving New York, with major players like JP Morgan Chase, State Street, and BlackRock distancing themselves from the situation.
The case is seen as a potential deterrent for entrepreneurs and investors considering New York due to the legal environment.
The governor of New York has assured that legitimate business operations have nothing to worry about.
The appeals process will likely address the novelty of the case and the decision-making by loan entities.
The case has raised concerns about the fairness of the judicial system and the potential for prosecutorial abuse.
The situation in New York is being compared to a legal banana republic, with calls for better management to prevent the state from becoming a flyover state.
The case is seen as a test of the rule of law in the United States and its application across different political beliefs.
Trump's response to the situation is to focus on success as his form of vengeance, rather than engaging in a legal battle.
Transcripts
we now have an update on former
president Trump's appeal against his New
York civil fraud verdict as the city
breaks this for an influx of
truckers so we have that crisis
unfolding we've been talking about this
for a long time and we're feeling the
effects here in New York but on the
other
hand we have a shortage of workers
crisis today New York Governor Kathy
hokel announced new efforts to fight
hundreds of protests in New York City
already from above you can see the sheer
numbers the crowd
massive demonstrators blocked traffic
all the way from 34th Street to Bryant
Park so hokel is deploying a thousand
State Personnel from the MTA State
Police even the National Guard to help
the city and they're going to have a
security perimeter that stretches for
several Avenues here and this is because
of the two factors the two issues that
you sort of alluded to right there the
first is former president Donald Trump
and his codefendants in this case
ordered today by judge Arthur and gorin
to pay out more than 300 million about
$350 million in
Damages New York leading with New York
business owners to stay in the city the
number of legal challenges against Trump
raising some questions now about whether
they are political stunts to keep him
from a second term or anything else the
New York attorney general Leticia James
who brought the lawsuit against Trump
and his adult children in
2022 James a Democrat and vocal critic
of trump accused the former president of
engaging in a decade long scheme to
fraudulently and falsely value his
assets to acquire loans at bargain rates
Donald Trump may have authored the art
of the deal but he perfected the art of
the
steel New York attorney general Laticia
James getting booed today in New York
City her lawsuit led to former president
Trump's fine of more than 300 well over
$350 million at this point in the Civil
fraud trial he is appealing and he says
he did nothing wrong watch what happened
when James spoke at the fire department
uh promotion ceremony today at a church
in
[Applause]
Brooklyn oh come on we're in a house of
God first um simmer down I want to thank
commissioner Kavanaugh
and chief hodgin for that
[Music]
recognition oh you know who's going to
love
that um FDNY chief of Department John
hodgin telling Fox quote today's
ceremony was about one thing the
accomplishment of the members being
promoted the members whose whose
Behavior excuse me distracted from that
celebration were an embarrassment and
not befitting of the world's best fire
department and indeed they are and we
congratulate all of those who got
promoted today um and we thank them for
the hard work they do every day in New
York City uh you know listen there's so
many indictments so you know I'm not a
lawyer but you look at New York for
instance right now with the penalties
and everything 400 million to be paid on
a victimless crime where there was no
victim no one showed up that the local
police precinct to f a report in fact
the banks that did business with
President Trump wanted to do more
business with President Trump and this
breaking news uh while we were showing
you that we now have an update on former
president Trump's appeal against his New
York civil fraud verdict a New York
appellate judge has rejected the former
president's request to put a pause on
the $454 million civil fraud penalty but
the former president did win his request
to temporarily delay rulings that banned
him from running a business in New York
state and taking out loans from New York
Banks a New York judge ordered Donald
Trump and his family business to pay
more than $350 million in penalties for
fraudulently inflating his wealth for
financial gain if upheld the ruling
could force Trump to Forfeit a sizable
chunk of his money and lead to a
reshuffling at the Trump organization
which is run by his sons Eric Trump and
Donald Trump Jr uh it's a ridiculous
award this a fine of $355 million for
doing a perfect job we asked Mark Zer a
veteran New York trial and app pellet
lawyer to break down the judge's
decision and what it means for Trump's
business Empire one of the things that
the judge noted in a footnote to his
decision was a reason why he was pulling
back on the cancellation of business
certificates is what he characterized as
potential economic harm with that we're
bring in Alina habba attorney for former
president Trump Alina great to have you
with us thank you for being here today I
actually want to start uh with that a
piece of sound from the town hall last
night with Laura Ingram and the former
president Donald Trump watch this
it's such a huge amount of money you
have to decide whether you're going to
put up that Bond and escrow to to appeal
are you going to do that where you going
tell you what we're going to do number
one well I have a lot of cash but that
doesn't mean he can take it I mean you
know what he did I think he looked at my
cash and he said well we'll take all of
his cash so Alina welcome uh first of
all thank you for being here and does
that indicate that the former president
plans to pay this Bond whether he's
going to do the bond or pay this
outright in cash because he says that he
essentially has that much cash is that
the
case I actually agree with my client's
sentiment I just want to add something
that most Americans don't realize Miss
James started out asking for $250
million when she got a glimpse of just
how wealthy the Trump organization is
because they're a successful business in
the state of New York because they
employ thousands of people and pay
hundreds of millions of do dollars in
taxes to the state of New York she upped
that she upped that ask why because her
goal was to try and hurt the president
try and hurt his family his company and
quite honestly all I can say to that
without breaking my privilege and giving
her a glimpse which I would never give
her the courtesy of having into our
strategy is that she has no chance the
appellant record is strong the record is
going to be uh very clear to the
American public and I look forward to
having everyone see what we say and and
really get a glimpse of what happened in
that 11 weeks in court but nonetheless
Elena that amount is there any hail Mar
pass that circumvents the reality that
that money has to be paid whether it's
in a bond or in cash before you can go
to the Appellate process is there any
workaround at
all so there's a couple things right and
I'll speak generally you can post a bond
um which is an option you can tell the
judge that you should set aside the
verdict because it's insane which this
is um will you be asking do all those
options are on the table I will never
show my cards Martha you know I'm too
good to do that but I will tell you that
we we have a great team I'm proud of our
our team and we're working around the
clock to figure out what strategically
is the best move one thing I can tell
you is that her goal of tearing down the
Trump organization her goal of tearing
down the individuals that work so hard
including on his campaign his family and
the list goes on and on her goal is
frankly not going to succeed that's all
I'm willing to say what did you make of
the fact that she said you know when she
was sort of guessing how he may come up
with this money or what he might choose
to sell off she said well I look up at
40 Wall Street every single
day yes and that chip on her shoulder is
why we're here today look this is a
woman who ran on getting Trump before
she even knew anything about the Trump
organization she made good on a campaign
promise and she used judgeing Goron to
help her facilitate that promise Martha
all I can say is this President Trump is
one of the smartest businessmen one of
the greatest presidents we have ever
seen if she thinks she is going to take
him down if that was her goal which we
all know very well it was and she got a
strong assist there in court but I will
tell you this that goal will not be
successful and that is the message I can
give to everyone listening here it will
not be successful we've seen it happen
time and time again look at what's
happening in Georgia look at what's
happening with Miss James going to
Washington right before she files the
complaint we have proof of that now
we're not talking about it because it's
so damaging this is all political
there's absolutely no no factual basis
to it and I'm really looking forward to
everybody seeing our record on appeal I
hope they take the time to read it so
that they can get a window into what are
the facts they've done nothing wrong
there were no victims and everyone made
money you're going to see businesses
fleeing New York right the New York
Times reports several major investment
firms are leaving major players in the
financial world are rethinking their
involvement in the fight three Giants JB
Morgan Chase State Street and black rock
have distanced themselves New York has
become a legal Banana Republic yes so
you show me the man I'll show you the
crime that was a famous saying from
Stalin's chief of police that's how the
prosecutorial system is now working
against Donald Trump today Not only was
this not a victimless crime Sean you
want to think about the people who did
business with Donald Trump they made
money off of those interactions not just
average consumers but financial
institutions so for her to bring this
case I think is a legal and
unconstitutional violation and when
that's overturned on appeal she's now
talking about seizing Trump's residences
in real estate properties I want to know
what property of Leticia James is going
to be seized when this is overturned on
appeal for the damage this is doing to
our country and to trust in the standard
of the rule of law in the United States
of America we need accountability when
this is overturned on appeal but for now
I'll say this is a travesty of justice
and this should not happen in the United
States of America I've been indicted
more than some of the greatest criminals
in the world for
nothing for nothing if I if my
plane flies over a blue
state that evening I get a subpoena to
report to a Federal
grand can you explain that to me what
has happened to this great
constitutional republic that is supposed
to be you know governed by Equal justice
under the law and equal application of
our laws every American should fear this
regardless of where they stand
politically that's what I
believe this isn't the American dream
this is the American Nightmare and this
is not even about Donald Trump it's
about every other American at home who's
now at risk of prosecutorial abuse as
well I think one of the great things
that happened for this country was in
the last week seeing Fanny Willis
actually testify in that case Sean there
the American public was able to see bear
these are the people who are actually
pursuing these cases against Donald
Trump people have no idea about basic
geography or the basic idea or the
understanding of the law as well these
are not the people that our founding
fathers and vision should be in charge
of let alone Prosecuting a former
president of the United States and
somebody who's running for president of
the United States they're rolling over
in their graves we're supposed to be a
country where regardless of your skin
color and yes regardless of your
political belief there is one standard
of the rule of law in the United States
of America and I'm grateful that Donald
Trump is standing strong that he's
actually said it beautifully the other
night actually on Fox on the at the Town
Hall he said it you know what my
Vengeance will be success will be my
Vengeance there's a trap to try to bait
somebody to come after them in so many
different directions that you get them
to crumble or to make a mistake I'm glad
to see him going in the other direction
to say that you know what we're going to
chase success success is unifying
success is how we win and you know what
I have full confidence that that's
exactly what's going to happen this
November even though they've created a
complicated path to get there well let's
bring in the chairman of oir venture
Shark Tank Judge Kevin o Kevin so good
to see you this evening I mean let me
just jump right in here last time you
and I spoke about the possibility of
what the fine could be in this case we
now know what it is it's more than 350
million bucks that's a huge financial
hit and I'm I'm wondering where is he
going to get this
money actually it's close at a half a
billion with a 9% interest assuming
it'll take 18 to 2 years to actually
settle this in an appeal which I think
it should be appealed um he he'll work
hard to raise it I think he can do it
but I what I I don't think this case is
about Trump anymore at all because you
heard the governor of New York come out
yesterday and say look everybody uh
don't be scared about doing a business
in New York uh because the only people
we prosecute are people like Donald
Trump who don't behave well that didn't
go over very well with the investment
Community because we're all asking each
other who's next this was a victimless
crime nobody lost any money and a judge
out of nowhere put on a
$355 million penalty I mean who's next
so if you Kevin before I I don't want to
cut you off but I hear about the the
so-called victim's crimes but the laws
on the books falsification of business
records in second degree issuing false
financial statements insurance fraud
conspiracy and all these different
aspects of it those are actual crimes I
take it your point is that these should
not have been
prosecuted well my point is there's
never been a case like this in 75 years
everything you just listed off is done
by every real estate developer
everywhere on earth in every city this
has never ever been prosecuted but
here's the real point that people in New
York should concern themselves with you
can put your money anywhere I'm a real
estate developer do you think there's a
chance I would ever take a chance on New
York again New York is turning itself
into a fly over State I have to build
data centers now I'm not going to go to
New York New York has power it's got
fber Optics it's got Niagara Falls but
no we're not even thinking about it
we're going to places that have the
exact same thing where we have rational
Governors that have never done this to
investors this is about New York and its
people if I were in New York today and I
was living there I would ask myself
maybe we should hire better
management why is this happening to us
why are we becoming a flyover State why
are investors concerned about putting
their money there but shouldn't you ask
that wouldn't wouldn't those people also
be saying first of all I do wonder how
many people take issue with the idea
that every investor is engaged in
falsifying business records that every
investor is engaged in what has been
accused of Donald Trump and the Trump
organization because there's probably a
lot who are saying to themselves I've
never falsified my business records I
know what a square foot looks like like
I know what what I can ask for and what
I have the money to support so I I
wonder to what extent that really is
true but on the second Point wouldn't
there be many companies who would not
want to do business or loan money to
people like yourself or investors if
they know that they can get away with
fraud and there's no recourse to protect
them excuse me what fraud I don't this
is not about Trump anymore when you get
a developer when you get a developer
that builds a building and he says it's
worth $400 million and he wants to
borrow 200 million from a bank which
happens every day everywhere on Earth
including every American city every
developer is an entrepreneur they Shine
the Light on their building and they say
it's worth 400 the bank does its own due
diligence as was done in this case
because they're very good at it the
banks are very good and they say no it's
worth 300 we're only going to loan you
150 million that haggling has gone on
for decades that's how it works and then
in this case even the bank that was
supposedly defrauded testified and said
we didn't lose anything we want to do
business with this guy again we'd like
to but the judge said no no no no no no
let's penalize this developer for 355
million and we're going to do that let's
penalize all the developers all across
America they've all done the same thing
all of them should go to jail and we
should stop building buildings that's
what the message is from New York even
the governor herself is concerned about
what this looks like to investors all
around the world it's not just us
domestic all around the world people are
talking about what happened here you
really think people want to invest money
in New York after this how about we go
somewhere else I think there are people
who would I don't want to cut you off
but I I want to converse with you inste
did I it's only because I want to have a
conversation I
respect I respect you because you're a
lawyer you're lawyer you understand
exactly what I'm talking about I got to
tell you I'm I'm respectable for a
number of reasons Kevin o lary but being
a lawyer is one of those issues but I'll
tell you when I when I hear your
conversation and I do want to converse
with you about this point I understand
that there are legitimate concerns that
were raised during the trial and will
continue to be raised about who the
quote unquote what who is actually
bringing the suit it wasn't the banks
who were saying that we as consumers are
unsophisticated feel this way but
Laticia James the Attorney General and I
know you want to expand Beyond Trump has
suggested well it's about making the
playing field level for those who are
not the major and billionaire investors
but for those who are supposed to put
business records out there want to get a
loan the idea of making sure that they
have to have the same true statements
included as those who have a lot more
money is there any weight to that for
you well I ask you who lost money and I
make it even clearer you and I we
developing a data center together and I
say to you we can go to New York where
this just happened it's your money now
you're now an investor and you're taking
risk you're an entrepreneur with me
right beside me we're together on the
deal or I can show you Oklahoma North
Dakota West Virginia where the governors
actually ran businesses let's go there
where that's never happened before they
have power they have permits they've got
legislation that's supportive of
Entrepreneurship why would we go to New
York why take the risk
my only point is did we just diminish
the great state of New York and the
great people of New York and shouldn't
they ask for better management so they
don't become a flyover State remember
New York has the highest taxes in the
country the worst regulatory environment
and it's incredibly mismanaged and I'm
pointing out now on top of that you get
this Insanity a a victimless crime and
forget about Trump it's not about Trump
I don't care about Trump in this I care
about America and I care about
entrepreneurship and I care about
democracy and the fairness the judicial
system is now being criticized people
are asking themselves the bar of New
York is this judge rational to charge
355 million in a case where no one lost
any money is that good for the people of
New York shouldn't the people of New
York wake up to this and say what's
happening to us why is this becoming so
pervert
why are we the focus of this Injustice
and nothing to do with Trump I'm not
supporting Trump I'm supporting American
entrepreneurship and New York is slowly
becoming the number one loser state in
America I'm sorry that's what's
happening well that's news to the city
that doesn't sleep but I'll tell you
what the governor has said that
legitimate business operations have
nothing to worry about I as an attorney
am looking at this issue wondering what
the appeals process will look like
because they're going to delve into that
very topic that you have raised they're
going to talk about perhaps the novelty
of this being as you describe not
brought on behalf of you know
unsophisticated consumers who may have
been duped but decisions made by loan
entities who wanted to engage in
business with this particular
organization that be important go ahead
put your hand put my hand I want to put
up my hand and ask governor who's next
who are you going after next you want
your hand up for that Kevin put your
hand down if that's the question what do
you mean every every entrepreneur in New
York is saying am I next Who's Next why
should I do business here when there are
so many more business friendly states
that I could do business in Florida in
Texas for example we've seen Elon Musk
make that historic move so I think
people are looking at New York and
saying unless you do something to change
the vibe here to turn this environment
around not for me
5.0 / 5 (0 votes)
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