Donald Trump has headquartered his business in New York City for his entire business career. And for almost as long, he has been accused of running his business in a crooked manner.
The walls came closing in on Friday as Trump was ordered to pay a $354 million fine and was barred from heading a company in New York for 3 years.
Andrew Weissmann appeared on Katy Tur's show on Friday to discuss the charges. The former federal prosecutor noted that Trump's only recourse may be selling off a ton of his most valuable properties.
Weissmann began, "[the lack of access to loans] is a real damper on the way in which Donald Trump can seek to keep his companies afloat, because he cannot, for three years, seek that as a recourse. So I think ... one of the ways out is to have a sale of assets as a way to get this money, or to at least be able to put up the money so that he can take an appeal."
The ex-prosecutor continued his analysis by noting:
So this is really a decision that will cause a lot of pain, not just because of the number, but because of the way in which the company is restricted going forward. It's limited ability to act in New York and to basically have the lifeblood of a company, which is taking out loans since that is really necessary to so many buildings. A very severe decision from Judge Engoron."