Hochul tells NY businesses not to fear about Trump verdict: ‘Nothing to worry about’
S E E D E D C O N T E N T
N ew York Gov. Kathy Hochul (D) addressed New York business owners in a new interview and told them there was “nothing to worry about” after former President Trump was hit with a $355 million fine and the inability to conduct business in New York for three years.
Hochul joined John Catsimatidis on “The Cats Roundtable” on WABC 770 AM where she was asked if other New York businesspeople should be worried that if “they can do that to the former president, they can do that to anybody.”
“I think that this is really an extraordinary unusual circumstance that the law-abiding and rule-following New Yorkers who are business people have nothing to worry about because they’re very different than Donald Trump and his behavior,” Hochul responded.
A New York judge on Friday ordered Trump to pay the massive sum in penalties in a civil fraud case. The decision came just weeks after closing arguments wrapped up a months-long trial after New York Attorney General Letitia James (D) sued Trump for alleging he falsely altered his net worth to receive tax and insurance benefits.
The judge, Arthur Engoron, found Trump, the Trump Organization, top executives and his adult sons liable for fraud.
Hochul said there was no way she would overrule Engoron’s decision because “we need a clear separation of powers.” She added that “that’s what was envisioned by our Founding Fathers.”
The governor provided reassurance to New York businesses after the ruling. “By and large, they are honest people and they’re not trying to hide their assets and they’re following the rules,” she said of the people who own and conduct business in the New York City area.
“And so this judge determined that Donald Trump did not follow the rules. He was prosecuted and truly, the governor of the state of New York does not have a say in the size of a fine, and we want to make sure that we don’t have that level of interference,” she said.
Is it me or did Hochul just admit that the NY cases were strictly political prosecutions?
its you.
No, she basically admitted that the former 'president' is a repeat felon criminal scumbag and that the majority of NY business folks are law abiding, unlike the former 'president'.
What the former 'president' was doing was an ongoing fraud/criminal for many, many years, can you say RICO?
He was a stand-alone case with a law created only for him.
Do you really believe that?
what law is that? when was this law created?
No No No, that is simply not true at all!
Martin Shkreli can and will swear to it...
What in the world has a federal case based on real law got to do with the lawfare vs Trump?
Butt, the state and federal cases (plural) against Trump are felonies (plural) based upon real laws (plural) and the evidence (massive) shown to grand juries (plural) in multiple jurisdictions which have all indicated Trump, whether you accept it or not...
DISGORGEMENT is what Shkreli has to do with Trump!
The law is known as 63(12), which stems from its place in New York’s rule book, is an overly broad law that does not require that anyone actually lose money. In this particular case the banks not only said that they were not victims and did not complain about the alleged fraud, but they said that they wanted to do more business with Trump. They described him as a "whale" client.
And of course, you have Melitia James who promised to bag this president for some undefined reason when she ran for office.
It is a farce. Political interference.
At some point the left will pay for all of it.
so its not a new law that was written for Trump.
So, you admit clawback and disgorgement laws are not novel to New York and they were not written specifically to "get Trump"!
Great!
Have you never heard of Bernie Madoff?
It is an ideal law to use to get Trump.
How so and how will we pay for 'all of it'?
If so, then Trump could have simply not have broken the law...
AKA Malicious Prosecution via liars & cheats.
We already exposed Fani!
Just like 2016, but the shoe is on the other foot so cons cry foul.
Vic, NO ONE wants to see your Fanni !!!
They're dirty!
It is an old, flawed law that was used against Trump. One could say that it was written for Trump.
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I see you included yourself in "the left."
I think either Trump wins or there will be a crisis for government.
"They're Dirty"...
You won't get it, will deny it and you will feign insult by me saying so. But that, is the most [removed] bullshit thinking I have seen admitted to online, lately...
The country has been in a crisis for the past 8 1/2 years.
Should you pull this off again, you will see a real crisis.
Your threats of revenge are as impotent as Trump's are...
Who is this we you keep speaking of?
Plus, the projection is palpable.
Reality tells a different story.
I KNOW IT!
If that traitor 'wins' the revenge and retribution campaign will start.
You're so awesome and you hit that nail right on the head!
The crisis has nothing to do with me. It has everything to do with what has been done to defeat Trump. Is there anything left that hasn't been used.
I know you don't think so, but people see it.
What law? Bank fraud? I think it's been around a long time.
... especially the people that can't recognize a con artist and traitor.
That 'crisis' for the government - another insurrection incited by it you mean, like it did the last time?
The former 'president' has done much to defeat itself. There is massive video and republican testimony that is 'defeating' the former 'president'.
It has nothing to do with the left/progressives/Democrats and everything to do with what was shown/proven
Lifelong con artist and repeat TRAITOR
Disgorgement - the new word for the former 'president's' daily verbal 'dumps'
No, I don't believe that. Here is a list of other high profile cases just from NY in the last decade.
Survey of Past New York Felony Prosecutions for Falsifying Business Records (justsecurity.org)
BS Hillary was and still is guilty as sin of mishandling classified documents, destroying government property, and obstruction.
Comey didn't cost her the election- her not campaigning in fly over country and calling anyone thinking of not voting for her "deplorables" cost her the election.
She was hated more than Trump- which is saying a lot.
The real crisis is just beginning:
T rump-supporting truckers are saying they are refusing to drive to New York City after the former president was slapped with a $355 million fine in his fraud case last week.
Trump-loving truckers refusing to drive to NYC after his $355 million fraud ruling (msn.com)
(It's right out of Atlas Shrugged )
a bunch of fox watching steering wheel holders avoiding NYC ought to raise the average IQ there...
Well of course the Trump case was political, that was started when she was running for DA and stated if elected she would "get" Donald Trump. The law in question does not require a victim, all that is necessary to get started is for a DA to decide there is fraud and bring charges.
Even MSNBC host Katy Tur asked if the judgement was fair. She noted that in the 70 years that the law had been enacted, it had never been used against anyone who had not been proven of doing harm to any individual or entity. Hard to see how a DA running for office promising to "get" someone and then to use a law in a manner it has never been used in, as not political in scope.
Anybody who denies this is engaging in willful disregard.
Thank you. My hopes for America are restored a bit when I read something so logical as your post.
The endless defense of the indefensible by you and Vic and all his supporters is not at all logical.
... but maga thinks it's perfectly fine for trump to threaten political retribution against his opponents, don't they?
It has been on its' revenge and retribution 'campaign' ever since it lost, BIGLY
You'd be mad too if you had to come up with a half billion $ to bail Trump out. Poor Trump, everybody treats him so bad! /S
Don't forget the recent $83 million to Ms. Carroll!!!!
Is she the old lady who claimed she was raped decades ago in a high-end, luxury department store but doesn't remember when it allegedly happened? Those stores always have very attentive salespeople and floor-walkers. I wonder why none of them ever stepped forward to say that they remembered the alleged rape incident.
In no way was I being "nasty" in comment 1.3.9 . I stated facts.
Trump is out 83 million $ for slandering Ms Carroll just like that!
Carroll is a lying bitch who can't even get her story straight. Little things like what year it happened, the day it happened, and witnesses matter. Except when it comes to TDS driven leftist New Yorkers.
No amount of evidence would have won Trump that case.
Just like no amount of evidence would have saved him in this one.
The jury said otherwise...
In addition, she never filed a police report or had a medical exam that would prove she was either raped or sexually assaulted.
Further, in a CNN interview she said that most people think that rape is sexy. I felt bad for a shocked Anderson Cooper ... he couldn't wait to cut to a commercial!
Years ago, she was a big "The Apprentice" and Trump fan, but when he announced that he was running for president, she started writing anti-Trump articles.
But a more logical, moderate thinking appeals courts will see through these political driven verdicts and put them where they belong.
In the trash can.
Well, yes, to some extent. Hochul is saying that Trump is in a class by himself which is what Trump has been telling us all along. Everyone knows the political motivations for going after Trump.
The unspoken consequences of the trial are more insidious. The juryless pre-trial conviction and judgement against Trump sends the message that the New York government will go to the wall defending and protecting big banks even if those banks are complicit in wrongdoing. New York has given the big banks a platinum 'get out of jail' card. And we're supposed to believe the banks won't exploit that? C'mon, folks, it's New York, after all.
It's you.
Assuring business (and the public) that a ruling of "fraud" is both valid and predicated on verifiable allegations based on satisfying the burden of proof, is warranted and crucial. While Trump's lawyers claim "no one was hurt, no one lost any money," while correct in a sense, it is not correct literally.
I'll explain. By providing creditors with fraudulent information, among other things, the borrower's fraud results in the creditor consequently charging lesser fees, THUS CHEATING THE CREDITOR OUT OF A RIGHTFULLY ARRIVED AT FEE BASED ON TRUTHFUL INFORMATION.
Fraud is fraud. It's a crime.
Except the bank testified to the exact opposite. You should read the opinion, the judge admits it.
If the bank had suffered a loss, it would be the one suing Trump. Instead the Governor, knowing pretty much every real estate in the state engages in similar practices, had to swear up and down that no other business will be treated like Trump's. She had to admit its a political prosecution to keep businesses from fleeing.
Northwestern Professor Steve Calabrisi, a noted "never Trumper"
On the record, on paper, the bank suffered no loss … BUT IT MADE LESS MONEY THAN THAT TO WHICH IT WAS ENTITLED because Trump's fraudulent information generated a better credit rating than he was entitled to!
Deutsche Bank believed Trump’s profits at one property were nearly triple the amount listed on an income statement. Does the discrepancy reflect accounting inconsistencies—or something more sinister?
Suppose you want to borrow $200,000 in the form of a fixed rate thirty-year mortgage. If your credit score is in the highest category, 760-850, a lender might charge you 3.307 percent interest for the loan. This means a monthly payment of $877. If, however, your credit score is in a lower range, 620-639 for example, lenders might charge you 4.869 percent that would result in a $1,061 monthly payment.
Trump's fraud increases or decreases his credit score, when borrowing, a HIGHER, FRAUDULENT SCORE GETS TRUMP, AS BORROWER, a LOWER INTEREST RATE, LOWER PAYMENTS … and the BANK IS thus CHEATED! When selling assets …
How Appraisal Fraud Works
Appraisal fraud is one of the most common types of mortgage fraud and happens when an appraiser , or a buyer or seller, artificially inflates (or deflates) the value of a property so that it diverges significantly from its FMV. The overstated value obtained through appraisal fraud is commonly used to:
That's not what the bank or the Judge said. The loan's terms were based on the bank's appraisal of the properties' values. Not Trump's.
At some point, maybe, the fact that the defenders of this ruling keep citing fake arguments that contradict what the Court actually found might tip them off to the fact their opinion is wrong.
TDS allows those afflicted to ignore standard practices if it speeds the “get Trump” process along.
At all costs. Resist Trump at all costs …… onward together comrades …. Onward together.
That is their problem for not doing due diligence and enlisting appraisals. I couldn't scrap that valuing for my mortgage nor did I get to tell the state what my house is worth for tax purposes. They both told ME. Any state where shit like that is allowed deserves what they get. Period.
Larson, a real estate brokerage executive and certified appraiser, assessed Trump properties for lenders. He was taken aback when told on the stand that he was repeatedly cited as an outside expert in former controller Jeffrey McConney 's valuation spreadsheets.
“It’s inappropriate and inaccurate,” Larson testified. “I should have been told, and an appraisal should have been ordered.”
In cross-examining Larson, Trump lawyer Lazaro Fields asked whether anything “prevents President Trump, as a real estate developer, from valuing his own properties.”
“I don’t know. I wouldn’t know,” Larson responded. Asked again, Larson said: “Not that I know of.”
.
"Built his empire on lies": Trump Org appraiser calls out "inaccurate" statements as Trump watches
Doug Larson rejected a Trump Org exec's claim that he advised him on swollen valuations
A key part of Tuesday's trial proceedings came in the form of testimony from a real estate appraiser for the Trump Organization, who harshly criticized the company's "inaccurate and inappropriate" behavior in attributing the faulty numbers to him.
More.
Trump company accountant Donna Kidder testified that she was told to make some assumptions favorable to the firm on internal financial spreadsheets. Outside appraiser Doug Larson said he didn’t suggest or condone a former Trump Organization comptroller’s methods of valuing properties.
“It doesn’t make sense,” Larson said of the way the ex-controller reached a $287.6 million value for a prominent Trump-owned retail space in 2013.
None of that addresses what I wrote.
If you want to address what I wrote, look at the Judge's opinion, not far left opinion pieces on Salon.
Well, there goes their argument.
Trump and Corporate Misdeeds: It’s Not His First Rodeo
Yeah, when the judgement was handed down it did make me wonder about the ramifications. Have to wonder how many businesses were watching the case and may decide to relocate outside of New York, there-by further impacting the tax base. Even if Trump wins the appeal, there was a lot of money spent to defend. Will other businesses feel that cost is justified in order to stay in New York? Have to wonder what the next couple of years will bring. We've already seen several companies move out of New York due to politics and taxes, will this exasperate that?
They'll leave. New York is now a banana republic.
The ones that leave will leave for fear of the inability to cheat without consequences!
No they won't. Hochul assured them they won't be destroyed so long as they don't cross progressives.
"Shark Tank co-host and entrepreneur Kevin O’Leary declared on Monday he would never invest in New York ever again, pointing to a judge ordering Donald Trump to pay $350 million-plus last week as his last straw.
“I’m not different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it,” O’Leary told Neil Cavuto on Fox Business.
In his New York fraud case, Trump was ordered by Judge Arthur Engoron to pay more than $350 million, and the former president was also barred from doing business in New York for three years. Trump was accused of fraud through past valuations of his properties that were inflated and used to get more beneficial agreements in a civil lawsuit filed by New York Attorney General Letitia James .
O’Leary called Trump’s actions a victimless crime and said other companies are now going to be even more fearful to conduct business in New York, which the Canadian-born O’Leary called a “loser state.”
“It doesn’t matter what the governor says, New York was already a loser state. Like California’s a loser state. There are many loser states because of policy, high taxes, uncompetitive regulation, it was already on the top of the list of being a loser state. I would never invest in New York now, and I’m not the only person saying that,” he said.
O’Leary, long a vocal critic of New York’s policies for business, described running into massive amounts of red tape while trying to set up a “high end data center” in New York and he’s now abandoning the state for “winner states,” like the Oklahoma, North Dakota, and West Virginia.
“The fine people of New York should ask themselves, why are we such a loser state? How are we going attract business?” O’Leary said. “It’s not just the existing businesses that are fleeing out to Texas and Florida. What about new money like what I’m talking about?”
The investor added that if there was any chance of his new venture being in New York, the Trump ruling ended that potential.
“Not a chance I would put that in New York, ” he said. “Zero probability. Never!"
Kevin O'Leary DONE with 'Loser State' NY After Trump Ruling (mediaite.com)
When the well-connected and powerful break the law to get more money than they are entitled to, it reduces resources available to working people, small businesses, and taxpayers.
"They are not victimless and it is not political. Trump saved huge amounts of money via fraud that was very brazen, intentional, and well established. The victims are the companies that were defrauded as well as the marketplace. The companies have reason to not complain publicly - it makes them look like fools. The state doesn't have to care about that, though.
New York Executive Law § 63(12) empowers the Attorney General to seek restitution, damages, and injunctive relief when any person or business entity has engaged in repeated fraudulent or illegal acts or otherwise demonstrates persistent fraud or illegality in the carrying on, conducting or transaction of business.
The Trump Organization committed wrongdoing. It's why he was fined. Are you and Vic and others saying that law abiding companies in New York will be targeted for prosecution? Is that what Governor Hochul was saying?
She's saying that she believes the vast majority of companies in New York follow the law. And Trump was an exception. It's bizarre that people are defending Trump on the basis that the prosecution of his company will lead to unfair prosecution of other companies.
All they have to do is obey the law.
Hochul was saying "don't worry boys, it was only to get Trump."
I jay walked yesterday too.
America is historically soft on white collar crime.
Unlike the former 'president'
Is this a crime in the field of real estate? It is extremely common for businesses to undervalue property, to try to lower tax costs, and to overvalue in securing loans.
Just think, soon he will be pretty much penniless and then hopefully behind bars soon enough. Penniless and behind bars. I can't wait!
why should that be legal?
It should be fined to the extent of $350 million./ S.
I'll bet you've always were perfect when you applied for a loan or prepared your taxes.
Don't you dare try and make this about merits. The left is AGAIN interfering in an election.
Big difference between making a mistake and flat out lying, Vic. Trump lied, he got caught, pretty simple.
New York Executive Law § 63(12) empowers the Attorney General to seek restitution, damages, and injunctive relief when any person or business entity has engaged in repeated fraudulent or illegal acts or otherwise demonstrates persistent fraud or illegality in the carrying on, conducting or transaction of business.
Eighth Amendment
Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.
U.S. Constitution - Eighth Amendment | Resources | Constitution Annotated | Congress.gov | Library of Congress
Our storage units here in small town America are full of NYC, Chicago, etc belongings waiting for housing to be built. People are getting out of dodge. Companies will follow.
Last business left in those cities turn out the lights.
I certainly have no problem with crooked NY business owners like trump moving to maga states and ripping off his supporters...
Like Hochul said: If you are not Trump, you have nothing to fear here.
Awesome!
You're my new hero! Taylor Swift is my new heroine!
It's a safe bet that dev is not a lifelong thug/crook/grifter/serial sexual assaulter/rapist/RICOfraudster/gangster/criminal - so I think he's safe and has nothing to fear here either!
That should be a trumpy bear. I believe most of its' supporters have one.
Where did she say THAT?
It's in the seeded article.
Another investor has now announced he will no longer work in New York because of this case.
How badly will this impact New York is a valid question. California's nonpartisan Legislative Analyst's Office is already cautioning that with a $24 billion "erosion in revenues" that will bring a $15 billion increase to the state's budget problem. Due to that, the budget deficit could grow from last months estimate of $58 billion to as high as $73 billion.
lol ….how would she know?
The very fact that she has to say this is an admission the case was corrupt. If trump had defrauded someone or got caught cheating on taxes, there would be no need to reassure businesses that it’s safe to operate in New York.
Let's go to the "videotape"
“I think that this is really an extraordinary unusual circumstance that the law-abiding and rule-following New Yorkers who are business people have nothing to worry about because they’re very different than Donald Trump and his behavior,” Hochul responded.
Exactly - they're not committing ongoing criminal conspiracies over decades. Like mobsters/thugs/gangsters do. Can you say RICO?
Calm down. Get a grip.
The left is doing dirty stuff again and this time it backfired. I look forward to seeing Trump back in the White House.
They said we are gonna get him!
How dare they? How uppity of them!
Where did YOU get YOUR law degree?
Over at University Hospital.
Again. She had to reassure businesses they had nothing to worry about. When has that ever happened after a legitimate prosecution? The message is usually “do this and we will catch and punish you” not, “don’t worry, it won’t happen to you.”
be honest. Admit that If trump had simply remained a democrat or never run for president, none of these actions would have been taken by the state of New York. The prosecution is wholly political and failure to admit that reflects on reality denier.
The message behind hochuls reassurance isn’t hard to miss. Play ball and nothing will happen.
You are short on answers to things that are said to you, and long on MAGA hopes and dreams.
All 4 cases are bogus. All 4 cases were scheduled for the election. All are being rushed to try and get convictions before the election.
We have been over it and over it. You did your best to hijack the conversation, but Hochul's assurance suggests the obvious: you do not have to fear a similar fate if you are not Trump in New York. That is precisely the problem.
Believe it or not, her comments are very clear cut
She specifically says the Trump matter is an extraordinarily unusual case. Your position and Vic's position is gaslighting.
I don't think the Campus of the Professions would accept you into their School of Law.
Try trump u
No former Presidents are traitors like this former 'president'.
I just want to work there.
There's a prison ward in the hospital itself.
Maybe they need some security guards
[Deleted]
Yeah, that's literally my entire point. Trump was targeted as a political threat , others don't have to worry about being "extraordinarily unusual" so long as the progressive mafia doesn't decide to destroy them. Just keep your head down and play ball and nothing happens.
If this were legit, Hochul says "let this be a lesson, if you use suspect valuations, even if no one is misled by them, we will destroy your business." That's what the government does when it prosecutes someone for legitimate purposes. It wants to send a message that they will catch, prosecute and punish anyone who engages in similar behavior. Not "don't worry. it's a one off thing"
Have you ever seen the governor reassure people "don't worry. It's extraordinarily rare we prosecute rapists"
Why won't you answer whether Trump would have been sued or prosecuted if he remained out of politics?
Lady justice is weeping ….
Extraordinary crimes merit extraordinary punishments...
if you liquidate all your assets and send trump a check to help him fund an appeal, I'm sure he'll pay you back. /s
He should have been indicted for various frauds a long time ago.
Ya, that's why they waited until the 2024 election.
Perfect meme of a roided out NFL player effectively assaulting his coach. Of course, I doubt you saw that live like I did.
[deleted]
Yes or no. Would New York have prosecuted him if remained on the fringes of politics?
'Lady Justice is weeping'
A lifelong thug/thief/crook/grifter/mobster is finally held accountable and . . . .
removed for context
As always your arguments fall woefully short
To Democrats/leftists.
Either the law applies equally to everyone or no one. Once it applies to no one you will be the ones screaming the loudest.
Congrats on putting another nail in the coffin of the law.
Yep, Pandora is getting ready to kick some ass.
Get some!