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Trump assets, including NYC tower, could be on the chopping block to pay massive $355M civil fraud ruling

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Trump assets, including NYC tower, could be on the chopping block to pay massive 5M civil fraud ruling

As a 30-day deadline looms for former President Donald Trump to fork over $355 million in a civil fraud trial, several of his multi-million assets could be on the chopping block to pay off the fine. 

These assets would presumably include buildings owned by the Trump Organization such as the iconic Trump Tower, Trump Park Ave, 1290 Avenue of the Americas, 40 Wall Street, the Trump National Golf Club in Westchester, and the Seven Springs. 

That the former president will sell any of these properties – taking a chunk out of his estimated $2.6 billion net worth – is merely speculative at this point. And legal experts have argued he has strong grounds for an appeal.   

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The “Trump World Tower”, located on 845 United Nations Plaza, in New York City on February 17, 2024. ( CHARLY TRIBALLEAU/AFP via Getty Images / Getty Images)

“Even if we choose to appeal this – which we will – we have to post the bond, which is the full amount and some, and we will be prepared to do that,” Trump lawyer Alina Habba told Martha MacCallum on Monday. 

Trump could ultimately end up owing a half-billion dollars or more as a result of Friday’s verdict. In addition to the $355 million penalty, Trump is required to pay interest on that amount.

In all, Judge Arthur Engoron imposed $363.9 million in penalties on Trump and his co-defendants, including his sons Eric and Donald Trump Jr., or about $464 million with interest, according to New York Attorney General Letitia James’ office.

LOOMING LEGAL PENALTIES RAISE QUESTIONS ABOUT DONALD TRUMP’S FINANCES

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“What they’re trying to do … is put him out of business. It’s not going to work, number one. Number two, what they’re doing is a scare tactic,” Habba said. “It’s absolutely insane. No, there will be no mayhem for the Trump organization. Unfortunately, I know that was Miss James’ goal and Judge Engoron wanted, but that is not going to be the case.” 

George Washington University Law School professor and attorney Jonathan Turley has called the ruling “obscene” and accused Democrats of weaponizing the justice system to punish Trump, the presumptive GOP nominee in the 2024 presidential race. 

Republican presidential candidate former President Donald Trump holds gold Trump sneakers at Sneaker Con Philadelphia, an event popular among sneaker collectors, in Philadelphia, Saturday, Feb. 17, 2024.  (AP Photo/Manuel Balce Ceneta / AP Images)

Others have argued that the ruling would scare off investment in the Big Apple – a problem, FOX Business’ Charles Payne noted, already existed before the ruling. 

“You want office buildings built here? We’ve already got 52% capacity, that probably won’t go much higher,” he said. “You know people who don’t have to come to the city to work, aren’t going to come.” 

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O’Leary Ventures Chairman Kevin O’Leary said he “would never invest in New York now.” 

“And I’m not the only person saying that,” O’Leary said. “Do you think any foreign institution or any private equity firm or any pension fund would touch New York? No! And that’s why New Yorkers should be concerned.”

TRUMP BARRED FROM OPERATING BUSINESS, ORDERED TO PAY OVER $350 MILLION IN NY CIVIL FRAUD CASE

Trump praised O’Leary for telling it like it is, warning that “businesses will flee NYC & State after the Corrupt Judge’s ruling!” 

The former president himself has called Friday’s decision a “weaponization against a political opponent” and complained that he was being penalized for “having built a perfect company, great cash, great buildings, great everything.”

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For now, the former president can’t appeal the decision just quite yet because the clerk’s office at Engoron’s courthouse still has to file paperwork to make it official.

FILE: ustice Arthur Engoron presides over Donald Trump Jr.’s testimony in his family’s civil fraud case at the New York State Supreme Court on Monday, Nov. 13, 2023 in New York. (Erin Schaff/The New York Times via AP / AP Newsroom)

Once that happens, Trump can file an appeal with New York’s Appellate Division, a mid-level appeals court just above Engoron’s trial court in the state’s judicial hierarchy. His lawyers are almost certain to ask for an immediate stay — a legal term for an order halting enforcement of Engoron’s decision while the appeals process plays out.

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Under state law, Trump will receive an automatic stay if he puts up money, assets or an appeal bond covering the amount he owes. The appeals process typically takes months, if not a year or more. If Trump is unsuccessful at the Appellate Division, he can ask the state’s highest court, the Court of Appeals, to consider taking his case.

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The Associated Press contributed to this report. 

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Supreme Court blocks redrawing of New York congressional map, dealing a win for GOP

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Supreme Court blocks redrawing of New York congressional map, dealing a win for GOP

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The Supreme Court on Monday intervened in New York’s redistricting process, blocking a lower court decision that would likely have flipped a Republican congressional district into a Democratic district.    
  
At issue is the midterm redrawing of New York’s 11th congressional district, including Staten Island and a small part of Brooklyn. The district is currently held by a Republican, but on Jan. 21, a state Supreme Court judge ruled that the current district dilutes the power of Black and Latino voters in violation of the state constitution.  
  
GOP Rep. Nicole Malliotakis, who represents the district, and the Republican co-chair of the state Board of Elections promptly appealed to the U.S. Supreme Court, asking the justices to block the redrawing as an unconstitutional “racial gerrymander.” New York’s congressional election cycle was set to officially begin Feb. 24, the opening day for candidates to seek placement on the ballot.  
  
As in this year’s prior mid-decade redistricting fights — in Texas and California — the Trump administration backed the Republicans.   
 
Voters and the State of New York contended it’s too soon for the Supreme Court to wade into this dispute. New York’s highest state court has not issued a final judgment, so the voters asserted that if the Supreme Court grants relief now “future stay applicants will see little purpose in waiting for state court rulings before coming to this Court” and “be rewarded for such gamesmanship.” The state argues this is an issue for “New York courts, not federal courts” to resolve, and there is sufficient time for the dispute to be resolved on the merits. 
  
The court majority explained the decision to intervene in 101 words, which the three dissenting liberal justices  summarized as “Rules for thee, but not for me.” 
 
The unsigned majority order does not explain the Court’s rationale. It says only how long the stay will last, until the case moves through the New York State appeals courts. If, however, the losing party petitions and the court agrees to hear the challenge, the stay extends until the final opinion is announced. 
 
Dissenting from the decision were Justices Sonia Sotomayor, Elena Kagan, and Ketanji Brown Jackson. Writing for the three, Sotomayor  said that  if nonfinal decisions of a state trial court can be brought to highest court, “then every decision from any court is now fair game.” More immediately, she noted, “By granting these applications, the Court thrusts itself into the middle of every election-law dispute around the country, even as many States redraw their congressional maps ahead of the 2026 election.” 

Monday’s Supreme Court action deviates from the court’s hands-off pattern in these mid-term redistricting fights this year. In two previous cases — from Texas and California — the court refused to intervene, allowing newly drawn maps to stay in effect.  
  
Requests for Supreme Court intervention on redistricting issues has been a recurring theme this term, a trend that is likely to grow.  Earlier last month  the high court allowed California to use a voter-approved, Democratic-friendly map.  California’s redistricting came in response to a GOP-friendly redistricting plan in Texas that the Supreme Court also permitted to move forward. These redistricting efforts are expected to offset one another.     
   
But the high court itself has yet to rule on a challenge to Louisiana’s voting map, which was drawn by the state legislature after the decennial census in order to create a second majority-Black district.  Since the drawing of that second majority-black district, the state has backed away from that map, hoping to return to a plan that provides for only one majority-minority district.    
     
The Supreme Court’s consideration of the Louisiana case has stretched across two terms. The justices failed to resolve the case last term and chose to order a second round of arguments this term adding a new question: Does the state’s intentional creation of a second majority-minority district violate the constitution’s Fourteenth and Fifteenth Amendments’ guarantee of the right to vote and the authority of Congress to enforce that mandate?    
Following the addition of the new question, the state of Louisiana flipped positions to oppose the map it had just drawn and defended in court. Whether the Supreme Court follows suit remains to be seen. But the tone of the October argument suggested that the court’s conservative supermajority is likely to continue undercutting the 1965 Voting Rights Act.   

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Map: Earthquake Shakes Central California

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Map: Earthquake Shakes Central California

Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown.  All times on the map are Pacific time. The New York Times

A minor earthquake with a preliminary magnitude of 3.5 struck in Central California on Monday, according to the United States Geological Survey.

The temblor happened at 7:17 a.m. Pacific time about 6 miles northwest of Pinnacles, Calif., data from the agency shows.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Pacific time. Shake data is as of Monday, March 2 at 10:20 a.m. Eastern. Aftershocks data is as of Monday, March 2 at 11:18 a.m. Eastern.

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US says Kuwait accidentally shot down 3 American jets

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US says Kuwait accidentally shot down 3 American jets

The U.S. and Israel have been conducting strikes against targets in Iran since Saturday morning, with the aim of toppling Tehran’s clerical regime. Iran has fired back, with retaliatory assaults featuring missiles and drones targeting several Gulf countries and American bases in the Middle East.

“All six aircrew ejected safely, have been safely recovered, and are in stable condition. Kuwait has acknowledged this incident, and we are grateful for the efforts of the Kuwaiti defense forces and their support in this ongoing operation,” Central Command said.

“The cause of the incident is under investigation. Additional information will be released as it becomes available,” it added.

In a separate statement later Monday, Central Command said that American forces had been killed during combat since the strikes began.

“As of 7:30 am ET, March 2, four U.S. service members have been killed in action. The fourth service member, who was seriously wounded during Iran’s initial attacks, eventually succumbed to their injuries,” it said.

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Major combat operations continue and our response effort is ongoing. The identities of the fallen are being withheld until 24 hours after next of kin notification,” Central Command added.

This story has been updated.

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