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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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Reflections on America’s 250th birthday

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Reflections on America’s 250th birthday

The nation’s capital may be the focal point of the 250th Independence Day celebration, but people all across America have plans to mark the occasion, from boisterous public parades to quiet personal reflections on history.

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As the United States turns 250 years old, Americans across the country are spending the holiday thinking about what the big birthday means to them, with reflections and celebrations as diverse as the nation itself.

NPR’s member station reporters fanned out to collect snapshots of the occasion from sea to shining sea.

In one ‘City of Presidents,’ Main Street is decorated for a party

At least two cities in the U.S.call themselves the “City of Presidents” and Cuba City, in Wisconsin, is one of them, largely due to its patriotic Main Street decorations. Every year from Memorial Day through Veteran’s Day, red, white, and blue shields, one for each U.S. president, are prominently displayed high up on the light poles lining Main Street.

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It’s a tradition that began in 1976 to commemorate the country’s bicentennial, says Donna Rogers, who is president of the ongoing project but admitted that when it first started, she wasn’t particularly tuned-in to the display.

“I was raising three little boys and working at John Deere, so I didn’t really pay too much attention to community service at that time,” she said.

Donna Rogers shows off one of Cuba City's presidential lampposts.

Donna Rogers shows off one of Cuba City’s presidential lampposts.

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A few years later, she was tapped to help keep the initiative alive.

When she thinks of the country’s history, she says the signing of the Declaration of Independence and abolition of slavery top her list, plus a current event–

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“Of course, now, our nation’s 250th birthday. I think those three would be the three most important things in history to me,” she said, quickly adding “[the] right for women to vote, don’t forget that, right?”

Rogers and Cuba City are pulling out all the stops for the 250th, with a parade and a mac-and-cheese festival, because “that was some of our founding fathers favorite foods, along with turkey and cranberries and other items.”

She laughed and admitted she googled that. True or not, Rogers says they’ll go all-out to celebrate the 250th in her “City of Presidents”.

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Family-owned company prepares to put on the largest fireworks display in history: “It is the biggest show that we’ve ever done”

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Family-owned company prepares to put on the largest fireworks display in history: “It is the biggest show that we’ve ever done”

Washington — There are fireworks, and then there’s what’s in store for Saturday in Washington, D.C.

When the sun goes down on Independence Day, the skies of Washington are expected to fill with a record-setting 850,000 individual fireworks for a 40-minute spectacle like no one has seen before.

A company called Pyrotecnico will attempt the biggest fireworks show in history, using five generations of family know-how and a background in Super Bowls and large musical acts to help America celebrate its 250th birthday with a bang.

“I mean, it is the biggest show that we’ve done,” Rocco Vitale, president of Pyrotecnico, told CBS News. “…My earliest memories of fireworks displays and doing the Fourth of July was here.”

Pyrotecnico has been planning this year’s show since January, using computers to simulate the display. But now it’s time for the real thing.

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Vitale gave CBS News an exclusive look at his not-so-secret weapons: eight barges out on the Potomac River, each one ready to light up the night sky.
 
“Each firing location has a communication device, and its all set on GPS. And once the time of the show is put into the system, it goes at that time,” Vitale explained.

According to Freedom 250, the organizer of the “Salute to America 250 Celebration & Fireworks” on the National Mall, President Trump will deliver remarks at 9:45 p.m. Eastern Time, and the fireworks display will get underway at 10:45 p.m. The event is expected to draw hundreds of thousands of people.


Join CBS for “The Great American Block Party 250,” a primetime special on Saturday, July 4, hosted by CBS Evening News anchor Tony Dokoupil and Entertainment Tonight’s Nischelle Turner, featuring live musical performances, celebrations around the country, and the largest fireworks show in history in the skies over the nation’s capital. Tune in July 4 at 8 p.m. ET on CBS and stream it on Paramount+ and CBS News 24/7.

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Oregon ER doctors win a ‘David and Goliath’ battle against a national company

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Oregon ER doctors win a ‘David and Goliath’ battle against a national company

A national physician staffing firm tried to take over the contract held by Eugene Emergency Physicians to work in local hospitals. The local physicians used a new state law to oppose the move.

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In between shifts in the emergency room, Dr. Dan McGee was in an Oregon courtroom. He was fighting for his practice — Eugene Emergency Physicians (EEP). The group of more than 40 doctors and physician assistants work at multiple emergency departments; it was being replaced by a national company.

“This was big time, David and Goliath stuff,” McGee said. “You see 14 of their lawyers sitting there and you see three of ours.”

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Those lawyers argued that ApolloMD, the national company, violated Oregon’s corporate practice of medicine law. The 2025 law bans corporations from taking control of a medical practice’s operations and finances.

The case garnered national interest because Oregon’s new law targets the loopholes large staffing firms have been employing to circumvent state corporate medicine laws.

Money for control

Most states have laws requiring that doctors own medical practices, not corporations. These rules aim to put patient interests ahead of profit motives. Over the last several years, companies have used a model where a doctor technically owns the local practice, but as Erin Fuse Brown, a professor at Brown University, explains, those physician owners are often not involved in care and cede hiring, firing and other operational functions to the corporation.

Fuse Brown said these arrangements are attractive to hospitals because these companies often promise more revenue and take over the responsibilities that come with running an ER.

“There’s worry that these investors or these corporate management companies should not be totally controlling the operations and the clinical decisions of those who are trained to deliver patient care,” Fuse Brown said.

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The connection to patient care concerned Dr. Jonas Pologe, who works for Eugene Emergency Physicians, in the Eugene, Ore., area. ApolloMD offered local doctors jobs, but Pologe worried that if he pushed back on decisions ApolloMD made, he could lose work hours.

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