Billionaire CEO, real estate investor on impact of Trump verdict: 'Nobody wants to do business' in NYC
Billionaire CEO, real estate investor on impact of Trump verdict: 'Nobody wants to do business' in NYC
Impact of Trump's Guilty Verdict on NYC Business Climate
Business Leaders' Concerns
Prominent executives like John Catsimatidis and Grant Cardone express concerns about the implications of Trump’s guilty verdict on the business environment in NYC, fearing a lack of rule of law.
Economic Consequences
Cardone has withdrawn his business from New York, citing the legal and political climate as detrimental to financial stability and investment willingness.
Future Business Prospects
The verdict has sparked fear among investors and business leaders, potentially leading to a significant decrease in business activities and investments in New York City.
What was the estimated cost to taxpayers for the NY v. Trump case, and how were these funds allocated?
The estimated cost to taxpayers for the NY v. Trump case was $2 million over six weeks, with $50,000 per day being spent on safety precautions. These funds were allocated to ensure the safety of former President Trump, the jurors, the judge, and other individuals involved in the trial1. The overall cost was estimated by trial attorney Mercedes Colwin1.
What were the specific charges against former President Donald Trump that led to his guilty verdict?
Former President Donald Trump was found guilty on all 34 counts of falsifying business records in the first degree. These charges were related to a scheme to cover up extramarital affairs in advance of the 2016 presidential election3. The scheme involved reimbursing Trump's former attorney, Michael Cohen, for a $130,000 hush money payment made to adult film star Stormy Daniels5. Each count corresponds to a check, invoice, and voucher generated to reimburse Cohen, and carries a maximum sentence of four years in prison and a $5,000 fine.