Donald Trump took a financial “death blow” on Tuesday, when the New York court system found him liable of fraud and steered his assets toward dissolution. Trump isn’t taking the news well, to put it mildly. In fact Trump may be making things even worse for himself ahead of the civil trial connected to this ruling.
One of the things Trump got busted for was massively overvaluing Mar-a-Lago in an attempt at defrauding the banks into floating him more money. Trump claimed Mar-a-Lago was worth a billion dollars, even though the property assessment was a mere $18 million. Now Trump is claiming on social media that “Mar-a-Lago is worth, perhaps, 100 times more” than $18 million, which would put it loose to two billion. In other words, Trump is doubling down on the fraudulent lies that got him in legal trouble to begin with. Not a smart move.
Trump is also insisting that “there is a powerful Disclaimer Clause on the first pages of the Financial Statements. It states that nothing in the Financial Statements should be accepted as fact!” Uh, wait a minute. Trump isn’t making the argument in favor of his innocence that he thinks he’s making.
If anything Donald Trump is merely digging himself a deeper hole. Even though the judge has already issued a summary judgment that he’s liable for fraud, the trial is set to begin next week in order to determine the size of the financial penalties. If Trump keeps making these kinds of fraudulent claims, the judge might find cause to hand down even bigger penalties. Bring it on.
Bill Palmer is the publisher of the political news outlet Palmer Report