FROM DOING BUSINESS IN THE
STATE.
I’M DAVID USHERY.
>> I’M NATALIE PASQUARELLA.
THAT DECISION WAS ANNOUNCED
ABOUT AN HOUR AGO.
>> OUR NEWSROOM HAS BEEN LOOKING
AT IT AND PROCESSING IT.
DONALD TRUMP HAS ORDERED PAY
$355 MILLION IN FINES.
HE IS BANNED FROM DOING BUSINESS
IN NEW YORK STATE FOR THREE
YEARS.
HIS SONS ERIC AND DONALD JR. ARE
BANNED FROM DOING BUSINESS IN
THE STATE FOR TWO YEARS. ERICA BYFIELD IS LIVE OUTSIDE
TRUMP TOWER WITH MORE ON THE
BREAKING DEVELOPMENTS.
>> Reporter: YEAH, WELL, DAVID,
YOU WOULD BE ABLE TO SEE TRUMP
TOWER.
THERE IS A BUS BEHIND ME AT THE
MOMENT.
A HUGE BLOW TO DONALD TRUMP AND
EVERYTHING THAT HE CRAFTED FOR
HIMSELF AS A REAL ESTATE MOGUL
NOT ONLY HERE IN THE STATE BUT
AROUND THE WORLD.
SO WE ARE TALKING ABOUT
SOMETHING IMPACTING HIS EGO
TONIGHT.
ALSO IMPACTING HIS POCKETBOOK.
SO THIS IS WHAT WE KNOW AT THIS
POINT.
TAKE A LOOK AT THE VIDEO WE HAVE
OF SOME OF THE PROPERTIES THAT
HE HAS.
WE ARE TALKING ABOUT OTHER
LANDMARKS IN ADDITION TO TRUMP
TOWER, WE ARE TALKING ABOUT 40
WALL STREET, TRUMP INTERNATIONAL
HOTEL NEAR CENTRAL PARK AND
TRUMP WORLD TOWER ANOTHER THE
UNITED NATIONS.
WE ARE WAITING A FORMAL REACTION
FROM THE FORMER PRESIDENT
HIMSELF.
BUT HIS LEGAL TEAM IS ALREADY
SIGNALING THEY SAY THEY ARE
GOING TO APPEAL THE DECISION.
SO WE KNOW HE IS GOING TO FACE
THAT FINE YOU WERE TALKING
ABOUT.
LET’S TALK ABOUT THE TRIAL FOR A
LITTLE BIT.
THERE WERE SEVEN COUNTS IN THE
CASE.
THE JUDGE RULED ON THE TOP ONE,
FRAUD, BEFORE THIS TRIAL BEGAN.
JUSTICE ARTHUR ENGORON FOUND
THAT DONALD TRUMP INFLATED HIS
WEALTH ON FINANCIAL STATEMENTS.
THAT HIS EMPLOYEES GAVE TO
BANKS, INSURERS AND OTHERS TO
MAKE DEALS AND SECURE LOANS.
THE DECISION DEALS WITH THE
OTHER SIX COUNTS THAT RELATE TO
ALLEGATIONS OF CONSPIRACY,
FALSIFYING BUSINESS RECORDS, AND
INSURANCE FRAUD.
I SAT THROUGH THE ENTIRE TRIAL,
INCLUDING THE DAY THAT DONALD
TRUMP TESTIFIED ON THE STAND.
THAT WAS NOVEMBER 6.
FROM THERE HE SAID THAT ALL OF
THE CLAIMS WERE NOT TRUE AND HE
SAID THAT THIS CASE WAS
POLITICAL IN NATURE.
FROM THE STAND HE DECIDED TO
ATTACK THE JUDGE AND HE ALSO
ATTACKED NEW YORK’S ATTORNEY
GENERAL.
THAT TRIAL LASTED TWO AND A HALF
MONTHS AND PROSECUTORS CLAIM
THROUGHOUT IT THAT TRUMP
EXAGGERATED HIS WEALTH BY AS
MUCH AS $3.6 BILLION.
THEY SAID THAT BY DOING THAT, HE
SAVED HIMSELF A LOT OF MONEY BY
ONE ESTIMATE WHEN IT CAME TO
INSURANCE PAYMENTS ALONE, THEY
SAY THAT FIGURE WAS
$168 MILLION.
AS YOU SAID, DAVID, ANOTHER
MASSIVE PART OF THIS SENTENCE IS
THAT HE IS NOW BANNED FROM DOING
BUSINESS HERE IN THE STATE FOR
THREE YEARS.
WHEN IT COMES TO HIS SONS, THEY ARE BANNED FOR TWO YEARS.
>> A LOT OF THE OUTCOME HERE
WILL DEPEND ON THEIR ABILITY TO
CONTINUE DOING BUSINESS IN THE CITY.
I THINK OVER THE NEXT COUPLE OF
DAYS WE WILL HAVE A BETTER IDEA
OF THE ABILITY OF THE
ORGANIZATION TO CONTINUE
OPERATING.
CERTAINLY THE DIFFICULTY IN
OBTAINING NEW FINANCING, THE
DIFFICULTY IN WHAT WILL PRESENT
A REAL CHALLENGE FOR THEM IN
CONTINUING TO OPERATE OVER THE
COURSE OF THE NEXT COUPLE OF
YEARS.
WHAT THAT MEANS FOR WHETHER OR
NOT THERE IS A STRATEGIC
DECISION TO LIQUIDATE, TO SELL
ASSETS IN THE CITY IN
PARTICULAR, I THINK IT’S
SOMETHING WE WILL SEE THE NEXT
COUPLE OF DAYS ONCE WE HAVE A
BETTER UNDERSTANDING OF WHERE
THE PROCEEDS, WHERE THE CASH WILL COME FROM TO ACTUALLY
SUPPORT THE PENALTY.
>> Reporter: SO THIS AFTERNOON A
TRUMP FAMILY ATTORNEY SAID THIS.
THIS VERDICT IS A MANIFEST
INJUSTICE, PLAIN AND SIMPLE.
SHE SAID LET ME MAKE ONE THING
PERFECTLY CLEAR.
THIS IS NOT JUST ABOUT DONALD
TRUMP.
IF THIS DECISION STANDS, IT WILL
SERVE AS SIGNAL TO EVERY SINGLE
AMERICAN THAT NEW YORK IS NO
LONGER OPEN FOR BUSINESS.
DONALD TRUMP AT THIS HOUR IS IN
FLORIDA.
WE ARE HEARING FROM MEMBERS OF
HIS CAMPAIGN HE COULD SPEAK ON
CAMERA LATER TODAY ABOUT THIS
ISSUE.
OF COURSE, AS SOON AS THAT
HAPPENS, WE WILL BRING YOU THAT
INFORMATION.
LIVE OUTSIDE OF TRUMP TOWER,
ERICA BYFIELD, NEWS 4 NEW YORK. >> THANKS.
LET’S TAKE A CLOSER LOOK WHAT
THIS MEANS FOR TRUMP AND THE
TRUMP ORGANIZATION.
CHRIS HAS FOLLOWED THE CASE FROM
THE BEGINNING AND HAS MORE ON
THAT ANGLE.
>> YOU COULD THINK OF THE
QUESTIONS THIS WAY.
WHAT’S NEXT FOR TRUMP
FINANCIALLY.
WHAT’S NEXT FOR TRUMP
POLITICALLY AND WHAT IS NEXT FOR
TRUMP’S LEGACY IN NEW YORK.
HIS ENTIRE LIFE HAS BEEN SHAPED
BY WEALTH AND POWER BUILT ON
REAL ESTATE.
THERE IS NOW A VERY REAL
QUESTION OF WHO WILL OVERSEE THE
REAL ESTATE PORTFOLIO THAT MADE
HIM A HOUSEHOLD NAME.
>> JUDGE ENGORON’S CIVIL FRAUD
DECISION TAKES DIRECT AIM AT
DONALD TRUMP’S BUSINESS LEGACY.
AND IT RAISES NEED QUESTIONS
ABOUT HOW THE TRUMP ORGANIZATION
CAN OPERATE GOING FORWARD.
A THREE-YEAR BAN ON TRUMP
HIMSELF RUNNING NEW YORK
BUSINESSES IS ONE THING.
BUT TRUMP IS A 77-YEAR-OLD MAN
RUNNING FOR PRESIDENT.
THE REAL IMPACT MAY BE THE
TWO-YEAR BAN ON DON JR. AND ERIC
TRUMP LEADING NEW YORK
BUSINESSES, EVEN THOUGH THOUGH
THE PENALTIES ARE SURE TO BE
APPEALED.
>> THE LIABILITY I THINK IS
GOING TO STICK HERE.
THERE WAS FRAUD.
THE QUESTION IS HOW BAD IS THE
PUNISHMENT, HOW HIGH IS THE
DOLLAR FIGURE.
>> NO MATTER HOW MUCH MONEY YOU
HAVE, NO ONE IS ABOVE THE LAW.
>> Reporter: HOW HARD THIS
DECISION HITS DONALD TRUMP’S
WALLET. THE FINANCIAL PENALTY IS NOT
GOING TO ELIMINATE THINKS
WEALTH, BUT IT’S NOT ENTIRELY
CLEAR OUT LIQUID TRUMP’S FORTUNE
IS.
BEFORE THE JUDGE’S DECISION
ANALYSTS SURMISED TRUMP COULD
HAVE TO SELL ASSETS IF THE
PENALTY APPROACHED $370 MILLION
SOUGHT BY THE STATE.
THE ATTORNEY GENERAL GOT MORE THAN 360 MILLION IN PENALTIES.
>> IF YOU SEE IT ABOVE 325
MILLION, I THINK IT’S A
FIVE-ALARM FIRE FOR THE TRUMP
ORGANIZATION.
THEY WOULD HAVE TO DO SORT OF
MAJOR RESTRUCTURING.
I THINK THEY WOULD BE ABLE TO
COME THROUGH TO IT.
UP TO 370, HE GOING TO BE IN
REAL TROUBLE.
I THINK HE WILL BE ABLE TO
SURVIVE, BUT IT WILL TAKE A
WHOLE LOT OF WORK TO MAKE THAT
HAPPEN.
>> Reporter: AND THEN THERE IS
THE QUESTION OF HOW THIS
SIGNIFICANT RULING IMPACTS TRUMP
POLITICALLY.
DURING THE TRIAL THE FORMER
PRESIDENT ROUTINELY ATTACKED THE
JUDGE AND HIS STAFF.
HE WAS SUBJECT TO A PARTIAL GAG
ORDER AND FINED FOR VIOLATING
IT.
>> NOW I HAVE TO COME IN HERE
AND JUSTIFY MYSELF AND HAVE
CROWDS OF PEOPLE WAITING IN THE
STREET.
IT’S A DISGRACE.
>> Reporter: BUT DESPITE
PROTESTERS OUTSIDE HIS
DEPOSITION AND HIS TRIAL, DONALD
TRUMP SUCCESSFULLY LEVERAGED HIS
GRIEVANCE AGAINST THE JUSTICE
SYSTEM TO MOTIVATE SUPPORT FROM
HIS POLITICAL BASE.
>> THESE ARE POLITICAL OPERATIVES THAT ARE GOING TO BE
DEALING WITH RIGHT NOW.
AND YOU HAVE A RACIST ATTORNEY
GENERAL.
>> Reporter: UP TO NOW, TRUMP
MAINTAINED STATE LAWYERS ARE
GROSSLY UNDERESTIMATING THE
VALUE OF HIS REAL ESTATE
PORTFOLIO.
IF TRUMP HAS TO SELL ANY OF HIS
PROPERTIES TO HELP COVER THE
PENALTY, WE WOULD SEE WHAT THE
PROPERTIES ARE WORTH RIGHT NOW.
IN A STATEMENT MINUTES AGO, THE TRUMP ORGANIZATION CALLED THIS
IS A MISCHAIRAGE OF JUSTICE AND