Donald Trump is facing a pair of major legal verdicts in New York that risk wiping out most — if not all — of the cash the billionaire says he has on hand, a potential blow to the presidential candidate whose persona is tied up with financial success and wealth.
Trump on Friday was ordered by a jury to pay $83.3 million to writer E. Jean Carroll for defaming her in 2019 when he denied her sexual-assault allegation. On top of that, a verdict is expected this week in New York’s civil fraud trial, which seeks the return of $370 million in “illegal profits” Trump allegedly made by lying to banks about his wealth to get better terms on loans.
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The timing couldn’t be worse as the likely Republican nominee for the November presidential election already faces mounting legal bills after being charged with 91 criminal offenses in four criminal prosecutions. Trump’s cash and his overall wealth are separate from his campaign finances, which by all accounts are still strong, but that money can’t be used to finance these verdicts.
I commneted in another thread. GOP loves to get elected and then pass laws that they know will be controversial. Say they ban books in school libraries. They know the Left will raise money to fight them, but since the GOP is in charge of the state they know that the local taxpayers will foot the bill while the Left has to ask for donations. Those donations mean that the Left politicians will have less to spend at election time. Trump is doing the reverse for the Right. He’s sucking up all the loose cash that used to go to the Party. Good for him!