In response to rising concerns, GoFundMe has addressed the legitimacy of a fundraiser created after Donald Trump’s civil fraud fine.
Trump Fundraiser: Legit or Not?
A representative told Newsweek that the page, established last Friday post Judge Arthur Engoron’s decision, which mandates Trump to pay close to $355 million in penalties for fraud, operates “within its terms and services”, despite social media’s critical buzz.
Asset Exaggeration Scandal
A recent ruling on Friday found that Donald Trump and senior executives at The Trump Organization are engaged in fraud by exaggerating asset values to secure better deals from lenders and insurers.
$370 Million Demand
Initially, New York Attorney General Letitia James filed a lawsuit seeking $250 million in damages, but later raised the demand to $370 million, plus interest.
Legal Costs Soar
With New York State’s 9 percent interest rate on damages, James stated post-ruling that the total, including pre-judgment interest, exceeds $450 million. This figure “will continue to increase every single day” until it’s settled.
‘Stand with Trump’ Fund
In response, Elena Cardone, real estate mogul Grant Cardone’s wife, launched a GoFundMe campaign, “Stand with Trump; Fund the $355M Unjust Judgment,” following Judge Engoron’s decision.
GoFundMe Gains Momentum
As of the morning of February 19, the GoFundMe initiative has raised around $414,000. However, on X, previously known as Twitter, some voiced concerns over its potential violation of platform policies regarding fundraising for crime convicts, urging its closure.
Fraud Trial Implications
Legal experts, including former federal prosecutor Gene Rossi, expressed similar doubts, saying: “The New York fraud trial opinion establishes one major theme: Trump World is a financial mirage perpetrated by a family of grifters and sycophant employees.”
Potential Fraud
“The GoFundMe proposal is an unsurprising offshoot—and it against the platform’s strict rules and likely to end up in court with a request for an injunction or other civil remedy,“ Rossi continued
“Plus, there may be criminal implications if the GoFundMe sponsors know that what they are doing is itself a fraud. In sum, another Trump mess!”
Trump’s Fund Legitimacy
Jalen Drummond, the director of public affairs, clarified to Newsweek, “This fundraiser is currently within our terms of service.”
Ruling Hits Trump Hard
On Friday, Justice Arthur Engoron issued a forceful ruling against Donald Trump, ordering him to pay $355 million in penalties for fraud. This ruling marks another setback for the former U.S. president in a civil case that threatens his real estate holdings.
Three-Year Ban
Engoron, delivering a stern verdict after a three-month trial in Manhattan, also prohibited Trump from holding any officer or director position in New York corporations for three years.
Refusal to Admit Fault
Engoron’s ruling emphasized that Trump and the co-defendants “are incapable of admitting the error of their ways.” Following the decision, Trump’s attorney Alina Habba announced plans to appeal.
Lack of Remorse
“Their complete lack of contrition and remorse borders on pathological,” the judge wrote. “Instead, they adopt a ‘See no evil, hear no evil, speak no evil’ posture that the evidence belies.”
Trump Reacts Strongly
On his social media platform, Donald Trump labeled Judge Engoron as “crooked,” Attorney General Letitia James as “corrupt,” and described the lawsuit against him as “ELECTION INTERFERENCE” and a “WITCH HUNT.”
He vehemently called the ruling a “Complete and Total SHAM,” insisting, “We cannot let injustice stand.”
Additional Sanctions
Judge Engoron, who presided over the case without a jury, additionally imposed a three-year ban on Trump and his implicated companies from seeking loans from New York-chartered financial institutions, potentially limiting his access to major U.S. bank credit.
Sons Face Financial Penalties
Trump’s sons, Don Jr. and Eric, also named as defendants, were each ordered to pay $4 million. Their attorney, Clifford Robert, decried the verdict as a “gross injustice” and expressed confidence in its reversal upon appeal.
Rationale Behind Penalties
Engoron justified the severe penalties by citing Trump and his companies’ previous legal issues, including the Trump Organization’s 2022 criminal tax fraud conviction and settlements of prior allegations of misconduct in New York
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