A remarkable outpouring of support has surged for former President Donald Trump through a GoFundMe campaign aimed at assisting him in the face of a hefty civil fraud fine nearing $1 million, merely six days after its inception.
Spearheaded by Elena Cardone, the wife of esteemed real estate tycoon Grant Cardone, the initiative, titled “Stand with Trump; Fund the $355M Unjust Judgment,” was prompted by Judge Arthur Engoron’s ruling, which mandated Trump to pay approximately $355 million for alleged fraudulent activities. This legal setback, instigated by New York Attorney General Letitia James, accuses Trump and top executives of The Trump Organization of inflating asset values to secure favorable deals from lenders and insurers.
While the fundraiser’s success is notable, critics like Scott Lucas, an international politics professor at University College Dublin, regard its impact as more symbolic than substantive. Lucas suggests that the $1 million raised is a mere fraction of the total penalty, which, including pre-judgment interest, exceeds $450 million. Moreover, this legal turmoil compounds the financial strain on Trump, considering the $83.3 million awarded to E. Jean Carroll in a separate case of sexual assault and defamation.
Nevertheless, Trump’s supporters view the GoFundMe campaign as a tangible display of solidarity against what they perceive as unwarranted legal persecution orchestrated by political adversaries.
This sentiment resonates particularly in light of Engoron’s ruling, which not only levied substantial fines but also imposed restrictions on Trump’s future business endeavors in New York. As Engoron barred Trump, Allen Weisselberg, and Jeffrey McConney from holding officer or director positions in New York corporations for three years, and mandated Donald Jr. and Eric Trump to pay hefty fines and refrain from conducting business in the state for two years, the future of the Trump Organization remains precarious.
Despite the significant funds raised, Lucas emphasizes that the GoFundMe campaign cannot rectify Trump’s business prospects in New York. Consequently, the Trump Organization finds itself ensnared in a precarious predicament, grappling with both financial penalties and operational limitations. As the legal battle unfolds, the implications extend far beyond monetary fines, permeating the realm of Trump’s business empire and political legacy.