The Trump Verdict is Scaring New York Businesses

What’s happening: Donald Trump was found liable by Judge Arthur Engoron for $355 million plus interest for what Engoron said were false claims about the value of assets like Trump Tower and Mar-a-Lago.

A matter of price: Trump’s lawyers were quick to point out there is no evidence Trump ordered his employees to overvalue assets to secure lower-cost loans. Trump was particularly incensed over New York AG Letitia James’s claim that Mar-a-lago — a sprawling complex on prime Florida real estate — was worth only about $75 million.

Why it matters: The extremely large sum Trump was ordered to pay by Engoron, who some have called biased, has investors and business owners worried New York state’s justice system could ultimately be turned on them too for purely political reasons.

Concerned businesses: The seemingly subjective decision has forced New York Governor Kathy Hochul to run damage control. When asked during a radio interview if people should be concerned that if prosecutors could “do that to the former president, they can do that to anybody,” Hochul argued the case was unusual.

Unconvinced: One angry investor is Kevin O’Leary, a multimillionaire who regularly appears on Shark Tank. He questioned the verdict, saying what Trump had done was victimless and swearing off ever investing in New York in the future. His concerns were echoed by House Intelligence Chair Mike Turner, who said the decision threatened New York businesses.

What’s next: Trump has vowed to appeal the ruling, but the process will take months or years.