Tuesday, February 20, 2024
Year : 2, Issue : 8
The New York governor has told business owners in her state that there is “nothing to worry about” after Donald Trump was fined $355m and temporarily banned from engaging in commerce in the state when he lost his civil fraud trial Friday.
In an interview on the New York radio show the Cats Roundtable with the supermarket billionaire John Catsimatidis, Kathy Hochul sought to quell fears in some quarters that the penalties handed to Trump for engaging in fraudulent business practices could chill the state’s commercial climate.
Asked if businesspeople should be worried that if prosecutors could “do that to the former president, they can do that to anybody”, Hochul said: “Law-abiding and rule-following New Yorkers who are businesspeople have nothing to worry about because they’re very different than Donald Trump and his behavior.”
She added that the fraud case against Trump resulted from “really an extraordinary, unusual circumstance”.
The governor said most New York business owners were “honest people, and they’re not trying to hide their assets and they’re following the rules”.
Hochul said most business owners would not merit state intervention.
“This judge determined that Donald Trump did not follow the rules,” Hochul added. “He was prosecuted and truly, the governor of the state of New York does not have a say in the size of a fine, and we want to make sure that we don’t have that level of interference.”
Trump, who denied wrongdoing in the case and maintained there were no victims, now has 30 days to come up with a non-recoverable $35m to secure a bond – a third-party guarantee – against his real estate holdings to show that he can pay the full fine if his appeals fail.
