Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

Former US President Donald Trump and Justice Arthur Engoron of the state Supreme Court listen to opening arguments from his lawyer Alina Habba, during the trial of Trump, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City on Oct. 2, 2023 in this courtroom sketch. (Reuters/File)

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Updated 16 February 2024

Reuters

February 16, 2024 23:24

Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

Justice Arthur Engoron also banned Trump from serving as an officer or director of any New York corporation for three years
Trump has denied wrongdoing and called the case a political vendetta by James, an elected Democrat

Updated 16 February 2024

Reuters

February 16, 2024 23:24

NEW YORK: Donald Trump must pay $354.9 million in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday, handing the former US president another legal setback in a civil case that imperils his real estate empire.
Justice Arthur Engoron also banned Trump from serving as an officer or director of any New York corporation for three years.
Engoron canceled his prior ruling from September ordering the “dissolution” of companies that control pillars of Trump’s real estate empire, saying on Friday that this was no longer necessary because he is appointing an independent monitor and compliance director to oversee Trump’s businesses
The lawsuit brought by New York Attorney General Letitia James accused Trump and his family businesses of overstating his net worth by as much $3.6 billion a year over a decade to fool bankers into giving him better loan terms.
Trump has denied wrongdoing and called the case a political vendetta by James, an elected Democrat. Trump is expected to appeal Friday’s ruling by Engoron.
The civil fraud case could deal a major blow to Trump’s real estate empire as the businessman turned politician leads the race for the Republican nomination to challenge Democratic President Joe Biden in the Nov. 5 US election.
Engoron had previously ruled in September that Trump had engaged in fraud and ordered his business empire be partially dissolved.
Friday’s ruling came after a contentious three-month trial in Manhattan.
During defiant and meandering testimony in November, Trump conceded that some of his property values were inaccurate but insisted banks were obligated to do their own due diligence.
He used his occasional court appearances as impromptu campaign stops, delivering incendiary remarks to reporters and insisting his enemies are using the courts to prevent him from retaking the White House.
Trump is cruising to the Republican nomination despite a host of other legal troubles.
He is under indictment in four criminal cases, including one in New York related to hush money payments he made to a porn star ahead of the 2016 election. The judge overseeing that case on Thursday set a March 25 trial date over the objections of Trump’s lawyers, who sought to delay it due to Trump’s crowded legal and political schedule.
Trump has also been charged in Florida for his handling of classified documents upon leaving office and in Washington and in Georgia for his efforts to overturn his 2020 election loss.
Trump has pleaded not guilty in all four cases.
During the New York civil case, Trump lashed out in the courtroom on Jan. 11 against both the judge and James while proclaiming his innocence. “You have your own agenda,” Trump scolded Engoron, who told Trump’s lawyer “control your client.” The judge during the trial had fined Trump $15,000 for twice violating a gag order against disparaging court staff.
Engoron ruled in September that Trump’s financial statements were fraudulent, leaving the focus of the trial on how much Trump should pay in penalties. James sought $370 million in penalties and a New York commercial real estate ban on Trump and his two adult sons, Donald Jr. and Eric Trump.
The trial featured some dramatic testimony. Trump during a defiant appearance on the witness stand boasted about his business acumen and accused James and Engoron of partisanship. Trump’s former lawyer and “fixer” Michael Cohen testified for the state.
Cohen testified that he manipulated the values of Trump’s real estate properties to match “whatever number Mr. Trump told us.” Trump afterward called Cohen a “disgraceful fellow.” His lawyers grilled Cohen on his criminal record and accused him of lying to boost his book sales and podcast traffic.
Donald Jr., Eric and Trump’s daughter Ivanka Trump also testified. They said they had little to no involvement in their father’s financial statements while running the Trump Organization, an umbrella company for Trump’s many business ventures. Unlike her brothers, Ivanka Trump was not a defendant.

Turmoil overshadows Romania vote as far right hopes to gain ground

Updated 01 December 2024

AFP

December 01, 2024 05:49

Turmoil overshadows Romania vote as far right hopes to gain ground

Updated 01 December 2024

AFP

December 01, 2024 05:49

BUCHAREST: Still reeling from this week’s shock developments, Romanians return to the polls to elect their parliament on Sunday, with the far right tipped to win, potentially heralding a shift in the NATO country’s foreign policy.
Romania was thrown into turmoil after a top court ordered a recount of the first round of last week’s presidential election won by Calin Georgescu, a little-known far-right admirer of Russian President Vladimir Putin.
Despite accusations of Russian influence and alleged interference via TikTok, Sunday’s parliamentary elections were going ahead as planned.
While the recounting of more than nine million ballots appeared to proceed quickly, people on the streets of Bucharest expressed worries about the recent twists and turns.
“What’s going on now doesn’t seem very democratic,” Gina Visan told AFP at a Christmas market in Bucharest.
“They should respect our vote. We’re disappointed, but we’re used to this kind of behavior,” said the 40-year-old nurse, echoing voter’s distrust in traditional parties.
Polling stations open at 7:00 am (0500 GMT) and close at 9:00 pm, with an exit poll due to be published shortly afterwards.
The first official results are expected later in the evening.

Amid allegations of irregularities and possible interference in the election, concerns over the transparency of the electoral process have emerged, with independent observers being denied access to the recount.
According to Septimius Parvu of the Expert Forum think-tank, the recount order by Romania’s Constitutional Court had “many negative effects,” including undermining confidence in institutions.
“We’ve already recounted votes in Romania in the past, but not millions of votes, with parliamentary elections in the middle of it all,” said Parvu.
“No decision made during this crucial period should limit the right of Romanians to vote freely nor further put at risk the credibility of the election process,” the US embassy in Romania stressed.
But the top court’s decision is likely to boost the far right, Parvu said.
The NATO member of 19 million people has so far resisted rising nationalism in the region, but experts say it faces an unprecedented situation as anger over soaring inflation and fears of being dragged into Russia’s war in neighboring Ukraine have mounted.
George Sorin in Bucharest said he hopes the far right will score well, claiming the current parliament had mostly served the interests of “Brussels and Ukraine” instead of “national interests.”
Outgoing President Klaus Iohannis said Sunday’s vote would determine Romania’s future — whether it will “remain a country of freedom and openness or collapse into toxic isolation and a dark past.”

Romania’s political landscape has been shaped by two major parties for the past three decades, but analysts predict a fragmented parliament to emerge from Sunday’s vote, influencing the chances of forming a future government.
Polls show that three far-right parties are predicted to claim more than 30 percent of the vote share combined.
Among them is the AUR party, whose leader George Simion won nearly 14 percent of the presidential vote, which actually topped the latest polls on more than 22 percent.
“We are here, standing, alive, more numerous than ever, and with a huge opportunity ahead of us,” Simion — a fan of US President-elect Donald Trump — recently told his supporters.
The Party of Young People (POT), which was founded in 2023 and has meanwhile thrown its support behind Georgescu, could reach the five-percent threshold to enter parliament and there is also the extreme-right SOS Romania party, led by firebrand Diana Sosoaca.
In recent years, around 30 percent of Romanians have embraced far-right views, even if they have not always voted for them in elections.
Elena Lasconi’s pro-European USR party has warned that the country faces “a historic confrontation” between those who wish to “preserve Romania’s young democracy” and those who want to “return to the Russian sphere of influence.”
The ruling Social Democrats (PSD) and the National Liberal Party (PNL), which suffered a defeat in the presidential ballot, have centered their campaigns on their “experience.”
“The political scene is completely reset,” said political scientist Remus Stefureac, adding that 2025 “will be extremely complicated in terms of security risks.”

Topics: Romania

UK business confidence lowest since COVID pandemic, IoD says

Updated 01 December 2024

Reuters

December 01, 2024 04:21

UK business confidence lowest since COVID pandemic, IoD says

The IoD survey took place between Nov. 15 and Nov. 27 and was based on 601 responses, mostly from small businesses

Updated 01 December 2024

Reuters

December 01, 2024 04:21

LONDON: Britain’s Institute of Directors said on Sunday that optimism among its members had fallen to the lowest since the onset of the COVID-19 pandemic, following tax rises in finance minister Rachel Reeves’ first budget on Oct. 30.
Investment plans and employment intentions were the weakest since May 2020 last month, while a gauge of business leaders’ optimism sank to its lowest since April 2020 at -65, down from -52 in October.
“As businesses continue to absorb the consequences of the Budget for their business plans, confidence has continued to plummet,” IoD Chief Economist Anna Leach said.
“Far from fixing the foundations, the Budget has undermined them, damaging the private sector’s ability to invest in their businesses and their workforces,” she added.
The IoD report adds to a chorus of complaints by businesses since the budget and other signs of an economic slowdown.
Last week Reeves promised the Confederation of British Industry that she would not be “coming back with more borrowing or more taxes” at future budgets.
Reeves announced 40 billion pounds ($51 billion) of tax rises at the budget, including a 25 billion pound increase in employers’ annual social security contributions.
Labour had only pointed to around 8 billion pounds of tax rises before the election and Reeves blamed the extra increases in large part on what she said was an unexpectedly poor fiscal legacy left by the previous Conservative government.
A planned tightening of employment laws was also likely to increase costs for employers, the IoD said.
The IoD survey took place between Nov. 15 and Nov. 27 and was based on 601 responses, mostly from small businesses.

Topics: Institute of Directors Britain UK business

Iceland votes for a new parliament after political disagreements force an early election

Updated 01 December 2024

December 01, 2024 03:51

Iceland votes for a new parliament after political disagreements force an early election

Iceland, a nation of about 400,000 people, is proud of its democratic traditions, describing itself as arguably the world’s oldest parliamentary democracy

Updated 01 December 2024

December 01, 2024 03:51

REYKJAVIK, Iceland: Icelanders voted to elect a new parliament Saturday after disagreements over immigration, energy policy and the economy forced Prime Minister Bjarni Benediktsson to pull the plug on his coalition government and call an early election.
All polling stations managed to open despite fierce weather in the sub-Arctic nation that left roads in many areas blocked by snow. Ballot-counting began after polls closed at 10 p.m. local time (2200GMT), with results expected early Sunday.
This is Iceland’s sixth general election since the 2008 financial crisis devastated the economy of the North Atlantic island nation and ushered in a new era of political instability.
Opinion polls suggested the country could be in for another upheaval, with support for the three governing parties plunging. Benediktsson, who was named prime minister in April following the resignation of his predecessor, struggled to hold together the unlikely coalition of his conservative Independence Party with the centrist Progressive Party and the Left-Green Movement.
“My expectation is like, something new (is) going to happen, hopefully,” said Hörður Guðjónsson, voting in the capital, Reykjavik. “We always have had these old parties taking care of things. I hope we see the light now to come in with a younger people, new ideas.”
Iceland, a nation of about 400,000 people, is proud of its democratic traditions, describing itself as arguably the world’s oldest parliamentary democracy. The island’s parliament, the Althingi, was founded in 930 by the Norsemen who settled the country.
How does the election work?
Voters are choosing 63 members of the Althingi in an election that will allocate seats both by regional constituencies and proportional representation. Parties need at least 5 percent of the vote to win seats in parliament. Eight parties were represented in the outgoing parliament, and 10 parties are contesting this election.
Turnout is traditionally high by international standards, with 80 percent of registered voters casting ballots in the 2021 parliamentary election.
Why now?
A windswept island near the Arctic Circle, Iceland normally holds elections during the warmer months of the year. But Benediktsson decided on Oct. 13 that his coalition couldn’t last any longer, and he asked President Halla Tómasdóttir to dissolve the Althingi.
“The weakness of this society is that we have no very strong party and we have no very strong leader of any party,’’ said Vilhjálmur Bjarnason a former member of parliament. “We have no charming person with a vision … That is very difficult for us.”
Despite the electoral headwinds, Benediktsson expressed confidence that his Independence Party could emerge on top.
“It was an uphill battle for my party, initially, but as we moved on into the election campaign, I think things started to turn our way and I feel that this will be a very exciting election day,” he said.
Why is Iceland’s politics so fractured?
The splintering of Iceland’s political landscape came after the 2008 financial crisis, which prompted years of economic upheaval after the country’s debt-swollen banks collapsed.
The crisis led to anger and distrust of the parties that had traditionally traded power back and forth, and prompted the creation of new parties ranging from the environment focused Left-Green Alliance to the Pirate Party, which advocates direct democracy and individual freedoms.
“This is one of the consequences of the economic crash,’’ said Eva H. Önnudóttir, a professor of political science at the University of Iceland. “It’s just the changed landscape. Parties, especially the old parties, have maybe kind of been hoping that we would go back to how things were before, but that’s not going to happen.”
What are the issues?
Like many Western countries, Iceland has been buffeted by the rising cost of living and immigration pressures.
Inflation peaked at an annual rate of 10.2 percent in February 2023, fueled by the fallout from the COVID-19 pandemic and Russia’s full-scale invasion of Ukraine in February 2022. While inflation slowed to 5.1 percent in October, that is still high compared with neighboring countries. The US inflation rate stood at 2.6 percent last month, while the European Union’s rate was 2.3 percent.
Iceland is also struggling to accommodate a rising number of asylum-seekers, creating tensions within the small, traditionally homogenous country. The number of immigrants seeking protection in Iceland jumped to more than 4,000 in each of the past three years, compared with a previous average of less than 1,000.
What about the volcano?
Repeated eruptions of a volcano in the southwestern part of the country have displaced thousands of people and strained public finances. One year after the first eruption forced the evacuation of the town of Grindavik, many residents still don’t have secure housing, leading to complaints that the government has been slow to respond.
But it also added to a shortage of affordable housing exacerbated by Iceland’s tourism boom. Young people are struggling to get a foot on the housing ladder at a time when short-term vacation rentals have reduced the housing stock available for locals, Önnudóttir said.
“The housing issue is becoming a big issue in Iceland,” she said.

Topics: Iceland Bjarni Benediktsson Parliament elections

Trump taps Kash Patel for FBI director, a loyalist who would aid effort to upend law enforcement

Updated 01 December 2024

December 01, 2024 03:12

Trump taps Kash Patel for FBI director, a loyalist who would aid effort to upend law enforcement

Patel, the child of Indian immigrants and a former public defender, spent several years as a Justice Department prosecutor before catching the Trump administration’s attention as a staffer for the House Permanent Select Committee on Intelligence

Updated 01 December 2024

December 01, 2024 03:12

WASHINGTON: President-elect Donald Trump has nominated Kash Patel to serve as FBI director, turning to a fierce ally to upend America’s premier law enforcement agency and rid the government of perceived “conspirators.” It’s the latest bombshell Trump has thrown at the Washington establishment and a test for how far Senate Republicans will go in confirming his nominees.
“I am proud to announce that Kashyap ‘Kash’ Patel will serve as the next Director of the Federal Bureau of Investigation,” Trump posted Saturday night on Truth Social. “Kash is a brilliant lawyer, investigator, and ‘America First’ fighter who has spent his career exposing corruption, defending Justice, and protecting the American People.”
The selection is in keeping with Trump’s view that the government’s law enforcement and intelligence agencies require a radical transformation and his stated desire for retribution against supposed adversaries. It shows how Trump, still fuming over years of federal investigations that shadowed his first administration and later led to his indictment, is moving to place atop the FBI and Justice Department close allies he believes will protect rather than scrutinize him.
Patel “played a pivotal role in uncovering the Russia, Russia, Russia Hoax, standing as an advocate for truth, accountability, and the Constitution,” Trump wrote Saturday night.
It remains unclear whether Patel could be confirmed, even by a Republican-led Senate, though Trump has also raised the prospect of using recess appointments to push his selections through.
Patel would replace Christopher Wray, who was appointed by Trump in 2017 but quickly fell out of favor with the president and his allies. Though the position carries a 10-year term, Wray’s removal was not unexpected given Trump’s long-running public criticism of him and the FBI, including after a search of his Florida’s property for classified documents and two investigations that resulted in his indictment.
Patel’s past proposals, if carried out, would lead to convulsive change for an agency tasked not only with investigating violations of federal law but also protecting the country from terrorist attacks, foreign espionage and other threats.
He’s called for dramatically reducing the FBI’s footprint, a perspective that dramatically sets him apart from earlier directors who have sought additional resources for the bureau, and has suggested closing down the bureau’s headquarters in Washington and “reopen it the next day as a museum of the deep state” — Trump’s pejorative catch-all for the federal bureaucracy.
And though the Justice Department in 2021 halted the practice of secretly seizing reporters’ phone records during leak investigation, Patel has said he intends to aggressively hunt down government officials who leak information to reporters and change the law to make it easier to sue journalists.
During an interview with Steve Bannon last December, Patel said he and others “will go out and find the conspirators not just in government but in the media.”
“We’re going to come after the people in the media who lied about American citizens who helped Joe Biden rig presidential elections,” Patel said, referring to the 2020 presidential election in which Biden, the Democratic challenger, defeated Trump. “We’re going to come after you, whether it’s criminally or civilly. We’ll figure that out. But yeah, we’re putting you all on notice.”
Trump also announced Saturday that he would nominate Sheriff Chad Chronister, the top law enforcement officer in Hillsborough County, Florida, to serve as the administrator of the Drug Enforcement Agency.
Chronister is another Florida Republican named to Trump’s administration. He has worked for the Hillsborough County Sheriff’s Office since 1992 and became the top law enforcement officer in Hillsborough County 2017. He also worked closely with Trump’s choice for attorney general, Pam Bondi.
Patel, the child of Indian immigrants and a former public defender, spent several years as a Justice Department prosecutor before catching the Trump administration’s attention as a staffer for the House Permanent Select Committee on Intelligence.
The panel’s then-chairman, Rep. Devin Nunes, R-Calif., was a strong Trump ally who tasked Patel with running the committee’s investigation into Russian interference in the 2016 campaign. Patel ultimately helped author what became known as the “Nunes Memo,” a four-page report that detailed how it said the Justice Department had erred in obtaining a warrant to surveil a former Trump campaign volunteer. The memo’s release faced vehement opposition from Wray and the Justice Department, who warned that it would be reckless to disclose sensitive information.
A subsequent inspector general report identified significant problems with FBI surveillance during the Russia investigation, but also found no evidence that the FBI had acted with partisan motives in conducting the probe and said there had been a legitimate basis to open the inquiry.
The Russia investigation fueled Patel’s suspicions of the FBI, the intelligence community and also the media, which he has called “the most powerful enemy the United States has ever seen.” Seizing on compliance errors in the FBI’s use of a spy program that officials say is vital for national security, Patel has accused the FBI of having “weaponized” its surveillance powers against innocent Americans.
Patel parlayed that work into influential administration roles on the National Security Council and later as chief of staff to acting Defense Secretary Christopher Miller.
He continued as a loyal Trump lieutenant even after he left office, accompanying the president-elect into court during his criminal trial in New York and asserting to reporters that Trump was the victim of a “constitutional circus.”
In addition to his 2023 memoir, “Government Gangsters: The Deep State, the Truth, and the Battle for Our Democracy,” Patel has published two children’s books that lionize Trump. “The Plot Against the King” features a thinly veiled Hillary Clinton as the villain going after “King Donald,” while Kash, a wizard called the Distinguished Discoverer, exposes a nefarious plot.

Topics: Trump Returns President-elect Donald Trump FBI Kash Patel

British PM Starmer to set out detailed policy targets in week ahead

Updated 01 December 2024

Reuters

December 01, 2024 02:37

British PM Starmer to set out detailed policy targets in week ahead

Starmer said he would set out a “plan for change” as the next phase of delivering goals including the fastest sustained growth in the Group of Seven advanced economies, a halving of serious violent crime, lower energy bills and less ill health

Updated 01 December 2024

Reuters

December 01, 2024 02:37

LONDON: British Prime Minister Keir Starmer will set more detailed targets in the coming week to achieve the government’s five main goals on areas including growth, health care, crime and green energy, as his party approaches five months in power.
Labour won a sweeping majority in Britain’s lower house of parliament in July, taking power for the first time in 14 years, but has fallen just behind the opposition Conservative Party in some recent opinion polls.
Starmer said he would set out a “plan for change” as the next phase of delivering goals including the fastest sustained growth in the Group of Seven advanced economies, a halving of serious violent crime, lower energy bills and less ill health.
“Mission-led government does not mean picking milestones because they are easy or will happen anyway. It means relentlessly driving real improvements in the lives of working people,” Starmer said in a statement released by his office.
Government ministers and officials would be told to focus on these goals rather than individual ministries’ traditional priorities, Starmer’s office added.
Labour has not had an easy start in office. Ministers say the previous government concealed the extent of problems in areas such as prisons and the immigration system, contributing to what finance minister Rachel Reeves said was a 22 billion pound ($28 billion) black hole in public finances.
Conservatives dispute this and say much of the cost overrun reflected Labour decisions to increase pay for public-sector workers and standard in-year spending variations.
Reeves announced 40 billion pounds of tax rises in her first budget last month — up from around 8 billion pounds in Labour’s pre-election plan — on top of higher borrowing to halt a fall in public investment planned by the previous government.
Businesses have complained that they will bear the brunt of the tax rises and will probably cut investment or jobs and need to raise prices as a result.

Topics: keir starmer Britain UK Labour Party

Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

Biden blasts Trump’s ‘dumb’ and ‘dangerous’ NATO threats

Trump says he warned NATO ally: Spend more on defense or Russia can ‘do whatever the hell they want’

Turmoil overshadows Romania vote as far right hopes to gain ground

Turmoil overshadows Romania vote as far right hopes to gain ground

Far-right populist surprises in Romanian presidential election appearing set to enter runoff

Georgian president declares parliament illegitimate amid pro-EU protests

UK business confidence lowest since COVID pandemic, IoD says

UK business confidence lowest since COVID pandemic, IoD says

Half of UK businesses impacted by Middle East conflict

PM urges UK businesspersons to benefit from Pakistan’s investment-friendly policies

Iceland votes for a new parliament after political disagreements force an early election

Iceland votes for a new parliament after political disagreements force an early election

Businesswoman set to become Iceland’s next president

Volcano in Iceland erupts again

Trump taps Kash Patel for FBI director, a loyalist who would aid effort to upend law enforcement

Trump taps Kash Patel for FBI director, a loyalist who would aid effort to upend law enforcement

Trump wants pardoned real estate developer Charles Kushner to become US ambassador to France

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British PM Starmer to set out detailed policy targets in week ahead

British PM Starmer to set out detailed policy targets in week ahead

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Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

Donald Trump must pay $354.9 million, barred from NY business for 3 years, judge rules

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