Feb. 16, 2024, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to New York City Judge Arthur Engoron fining former President Donald Trump and the Trump Organization over $350 million over property valuations:
“The political persecution of President Donald Trump by partisan prosecutors and judges continued today in New York, where ‘Judge’ Arthur Engoron fined Donald Trump and the Trump Organization more than $350 million and barred him from serving as an officer or director of any New York corporation for three years over a financial fraud claim.
“The claim came down to an alleged misevaluation of his properties by Trump to banks who loaned him money. In court, representatives of the banks testified that they conducted their own valuations (as happens with every property loan) and made the loans based upon those valuations, thus showing zero harm. What’s more the Trump valuations approximated the banks own valuations of the property, which were dramatically divergent from the valuations ascribed by the Attorney General office of New York. Likewise, Florida real estate experts testified that the Mar a Lago estate’s value far exceeded what was claimed by the New York Attorney General. In spite of the bank claiming no harm, and their testimony that the loans given were repaid in full including interest, the judge found Trump guilty and fined him $350 million. It is hard to imagine any reasonable person doing business with the state of New York in the future given the pure injustice of this decision and penalty.
“The Fifth and Fourteenth Amendments of the U.S. Constitution protects individuals from government taking of property. President Trump has promised to appeal the decision. For the sake of the future economic viability of the state of New York, this political confiscation of Donald Trump’s properly owned, maintained and financed properties must be overturned. Even partisan Democrat politicians have to understand that no one of sound mind can justify putting their wealth at risk of political confiscation as has happened to former President Trump in this case. The fact that this case even was allowed to be considered is a deep scar on the Empire State and should force every corporation which has significant assets in the state to engage in self-examination of whether having a spot on the New York City skyline is worth risking their entire company’s and personal wealth if they fall on the wrong political side of pernicious and venal local and state prosecutors working in concert with a political hack on the bench.”
For media availability contact Americans for Limited Government at media@limitgov.org .
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