The impact of Trump's verdict on New York business and U.S. election campaigns

 Research, editing : Gan Yung Chyan, KUCINTA SETIA

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Trump was found guilty. Business leaders: No one dares to do business in New York

Reporter : Yang Caihua / Editor: Lin Qing / https://www.ntdtv.com/gb/2024/06/01/a103886195.html /Image : Aerial view of One World Trade Center in Lower Manhattan, New York City. (Drew Angerer/Getty Images)

The hush money case of former US President Trump was sentenced on 30 May 2024, and all 34 charges were found guilty. Well-known business executives warned that after Trump was found guilty, other New York companies and leaders may also become victims of the city's "no rule of law".

Business tycoon John Catsimatidis said in an interview with host Maria Bartiromo on Fox TV: "If they (New York's judicial community) can do this to business people like Trump, they can do the same to any citizen and business in New York. Many people are worried that there is no rule of law here (New York)."

Of the 34 counts of falsifying business records that Trump was convicted of, 11 were related to invoices, 12 were related to ledger entries, and 11 were related to checks.

Grant Cardone, founder of Cardone Capital, also questioned on a show hosted by veteran media person Stuart Varney: "No matter how you feel about politics, if they can treat a former president like Trump like this, how will they treat me, Grant? How will they treat other businessmen?"

Kazimatidis added: "The city is shocked, the whole country is shocked, the whole world is shocked, it's incredible... We must restore the rule of law."

Former President Trump was found guilty in an unprecedented criminal trial, becoming the first former president of the United States to be convicted. Manhattan District Attorney Alvin Bragg charged Trump with first-degree falsification of business records, although Trump pleaded not guilty to all charges.

Litigation attorney Mercedes Colwin said that New York's lawsuit against Trump is estimated to cost taxpayers $2 million, and spent $50,000 a day on security measures during the six-week trial.

Cardone recently moved his business out of New York state and warned that Trump's legal problems, including a $355 million fine in a New York civil fraud case in February, would "cause a financial disaster" for the city.

"My investment company manages the money of 15,000 investors, and we have raised $1.3 billion," Cardone said. "If I said to them today, 'I want to invest in New York City,' they would not agree to do so with the money they have given me."

"New York City is one of the greatest cities on the planet. But no one wants to do business there. I condemn the judicial system there. Clearly, the political system has been weaponized."

After the ruling on the silence case was announced, Kazimatidis revealed that he attended a private dinner with Trump and 15 others. He said the 45th president seemed to be in good spirits despite his guilty verdict.

"Trump went around and I asked questions about who the next vice president should be. Everyone gave him advice," Kazimatidis described. "One of the suggestions I made resonated with my friends: Trump should not only choose the right vice president, but also announce the entire cabinet. This is something that has never been done before, and campaign as a team. Because we have to win back America."

"We have to change the world. President Trump is the only one who has the courage to change the world," he said, "This message must be conveyed."

Cadone's company has canceled $500 million of funds originally planned to be invested in New York and reallocated it to Florida real estate investment. He mentioned that this was a response to Trump's conviction in New York.

He said: "As a fiduciary for other investors, you face too many risks (in New York City): you can't raise rents, you can't evict tenants, and you can't estimate taxes." "Although New York is a great city, I need a stable market."

News (2)

After the hush money case, Trump and Biden launched a tit-for-tat election campaign

Reporter : Li Qingyi / https://www.ntdtv.com/gb/2024/06/01/a103886267.html

After Trump was convicted of the hush money case, Trump and Biden launched a tit-for-tat election campaign. 

Trump was found guilty by a jury on Thursday (30 May 2024). Trump believes that this is a conspiracy by the Biden-Harris administration to attack him politically. He told the media outside the court: "Our entire country is being manipulated. This is what the Biden administration did to hurt its political opponents."

In just one day after Trump was convicted, his campaign team raised nearly $35 million in donations, and most of them were small donations, setting a single-day fundraising record.

Former U.S. President Trump: "I like those donors. Because so far, I guess the verdict has caused a backlash, and I would rather it didn't happen. We will appeal this scam. He doesn't allow us to do anything. The judge is a tyrant."

On Friday (31 May 2024), one day after the hush money case verdict, Trump and the Republican National Committee (RNC) jointly launched a grassroots voter mobilization plan called "Trump Force 47", aiming to mobilize voters in key swing states.

The Biden campaign team also immediately began to raise funds for President Trump's conviction, and said in a text message to supporters on Thursday: "The jury found Donald Trump guilty today, but there is still only one way to keep Donald Trump away from the Oval Office: the ballot box."

Trump's sentencing date is scheduled for 11 July 2024, and House Speaker Mike Johnson called on the U.S. Supreme Court to intervene to overturn the Manhattan District Court's verdict.