Elena Cardone, the wife of investor Grant Cardone, an entrepreneur and investor launched a GoFundMe to meet the rising legal expenses of former US President Donald Trump. The campaign’s target is to meet $355 million and it had raised more than $185,000 from some 4,000 donors within a few hours of it being launched.
At the time of writing this report $410,354 were raised out of the target of $355,000,000.
The $355 million amount, which is being set as a target, is the fine Trump was told to pay Friday by New York judge Arthur Engoron in penalties after the New York judge found the former US president liable for unlawfully inflating his wealth and manipulating the value of properties in a bid to obtain bank loans and insurance on favourable terms.
“I stand unwaveringly with President Donald Trump in the face of what I see as unprecedented and unfair treatment by certain judicial elements in New York. The recent legal battles he faces are not just an attack on him, but an attack on the very ideals of fairness and due process that every American deserves,” Elena Cardone wrote on the GoFundMe page.
The former president was also banned from running companies in New York for three years, as per the ruling. The ruling deals a major blow to his business empire and financial standing, which he has used to bolster his both campaigns. He has constantly used his image as a successful businessman to show American voters that he is best-suited to lead the US and bolster its economy.
If Trump is not able to pay the penalty, it will test his claims of being a multi-billionaire with substantial cash flow in the hundreds of millions.
Trump and his businesses could have to pay more than $450 million, according to the New York attorney general’s office. In a separate case, the former president was ordered to pay $83.3 million when a judge ruled that Trump defamed writer E. Jean Carroll. A separate jury also found he sexually assaulted the columnist. Trump was previously ordered to pay Carroll $5 million last year.
Trump plans to appeal Friday’s ruling and claimed it was a political ‘witch hunt’ because the Biden administration knows he will defeat US President Joe Biden in the upcoming elections.
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