NY judge fines Trump $354 million in civil fraud case – National & International News – FRI 16Feb2024

NY judge fines Trump $354 million in civil fraud case.

Biden “contemplating” further action against Russia after Putin critic dies in prison.

NATIONAL NEWS

NY judge fines Trump $354 million in civil fraud case

In a 92-page decision, Judge Arthur Engoron has fined Donald Trump $354 million in a civil fraud case in New York, the details of which “shock the conscience” according to Engoron. In addition, Trump will have to pay approximately $100 million in interest for over a decade of fraudulent business dealings, bringing the total judgment against Trump in this case to about $450 million. Add to that the $83.3 million Trump was recently ordered to pay to E. Jean Carroll, a columnist who accused Trump of sexually assaulting her in the mid-1990s, and Trump’s total civil damages in New York come to over $530 million. 

The ruling also fines each of Trump’s adult sons, Don, Jr., and Eric, $4 million. Trump himself is barred from serving as an officer in any New York company for 3 years and Don, Jr., and Eric are each barred for 2 years. 

The ruling lays out in detail how Trump grossly inflated the value of his real estate holdings both to exaggerate his net worth and to secure more favorable financing terms from banks. At the same time, Trump undervalued his holdings to cheat on his taxes.

Engoron also states plainly his judgment that the Trumps and the Trump Organization would continue carrying on fraudulently unless “judicially restrained” from doing so. Engoron says of the defendants, “Their complete lack of contrition and remorse borders on pathological”.

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INTERNATIONAL NEWS

Biden “contemplating” further action against Russia after Putin critic dies in prison

Russian opposition leader Alexei Navalny has died in a Russian prison at the age of 47. Navalny was a vocal critic of President Vladimir Putin and led efforts to expose massive corruption engaged in by figures the Russian government, including Putin himself.

Navalny garnered international attention in 2020 when he was flown to Germany for treatment after a suspected poisoning attempt. After a months-long recovery, Navalny helped to investigate his own assassination attempt by impersonating a high-ranking Russian official and phoning Konstantin Kudryavtsev, purported to be an agent of Russia’s FSB (the successor organization to the Soviet-era KGB spy agency). During the call, Kudryavtsev revealed that other FSB agents had placed a nerve agent in Navalny’s underwear while he was staying in a hotel in Siberia.

When he died, Navalny was serving a 19-year prison sentence for convictions on fraud, contempt of court and extremism charges. Since his incarceration began in 2021, he had been moved around to different penal colonies, with many of his supporters raising fears for his health and his safety. In mid-December 2023, Navalny wound up in a prison colony in Yamalo-Nenets, a remote province in the Arctic Circle. His transfer there raised a panic when Navalny’s legal team lost track of his whereabouts for several days. 

A statement from the prison says that Navalny collapsed after taking a walk, having felt unwell that morning. Efforts to resuscitate him were unsuccessful. Navalny’s family and supporters in Russia have doubts and believe that he was assassinated, a position shared by the US.

US weighing response

When Navalny was jailed in 2021, President Biden promised to impose “devastating” consequences on Russia in the event of Navalny’s death. Obviously, a lot a has happened since then. Following Russia’s 2022 invasion of Ukraine, both the US and EU have imposed massive economic sanctions on Russia and seized assets from numerous pro-Putin Russian oligarchs.

Initially, the sanctions did indeed have a major impact on Russia’s economy and even on the financing of its war effort. This necessitated a reorientation of Russia’s banking and economy, part of which forced an increased dependence on China. This rejiggering helped Russia’s economy to stabilize and even recover some of its lost ground by selling cheap oil to China and India. The country is also revamping its own domestic production of weapons, supplemented by supplies from Iran, North Korea and possibly even China.

This has left the US with few levers to pull in response to Navalny’s death. Nevertheless, Biden considers Putin responsible for Navalny’s death and said today “we’re contemplating what else can be done” by way of punishment.