Trump Fraud Case Has Business Owners Concerned

We have all seen what an overzealous Attorney General can do to a business empire.

Letitia James ran for office on the premise that she would take out Donald Trump.

Now, other business owners are growing concerned about their own business if James decides she wants to take them out as well.

Real-life ‘Billions’

I cannot help but compare the case brought by New York Attorney General Letitia James against Trump to the fictional battle in “Billions” between Bobby Axelrod and AG Chuck Rhoades.

If you are not familiar with the show, Rhoades is obsessed with taking down Axelrod and his investment firm to the point that he loses just about everything he has.

Rhoades winds up divorced as well as losing millions in his trust fund all because of schemes he concocted to take out Axe.

James has not ruined her own life, but she was obviously obsessed with Trump.

She happened to get a judge who apparently felt the same way, issuing a partial summary judgment against Trump before the trial had even started.

When James announced that she was increasing her judgment request, then it was granted by Judge Engoron, it started to get a lot of business owners’ attention, especially when they wanted the unprecedented judgment paid in full within a month.

Trump appealed that decision, winning, and getting the bond reduced from $464 million to $175 million, but that has done little to quell the fears of business owners in the state.

John Catsimatidis, a supermarket billionaire, expressed concerns during a recent podcast with New York Governor Kathy Hochul, saying that if James could “do that to the former president, they can do that to anybody.”

Hochul countered the concern by stating that law-abiding business owners have nothing to worry about, but that has not really worked to quell the fears Catsimatidis brought up.

For instance, real estate investing company Cardone’s Capital was hoping to expand operations in blue cities and states this year, looking to expand to Chicago, California, and New York City.

Cardone, however, has decided to put that plan on hold.

Cardone stated, "We thought this year was the opportunity to come into Chicago, California, and New York City. I've been waiting for 40 years now to invest in that marketplace. I was completely confident this was the year to come.

"And when that ruling happened, it was like, pencils down. Don't touch it. Don't go there."

Trump stated that he thought this case against him would impact New York’s business sector, and it would appear that he was correct.