Elon Musk slams NY court ordering President Trump to pay $354 million: ‘No victims with losses, who is supposed to receive the money?’

"Given that there were no victims with losses, who is supposed to receive the money?"

Hannah Nightingale Washington DC

Following the ruling by New York Judge Arthur Engoron that 2024 GOP frontrunner has to pay out $354 billion in the state’s civil fraud trial, X owner Elon Musk questioned whom Trump would be paying this sum out to.

"Given that there were no victims with losses, who is supposed to receive the money," Musk wrote in response to a tweet by Charlie Kirk summing up the payments ordered by Engoron.

Trump and his businesses were ordered to pay around $354 million. Trump sons Don Jr and Eric were ordered to pay $4 million each. Allen Weisselberg was ordered to pay $1 million.

In addition, Engoron's ruling prohibits Trump, "from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years." 

James argued in the case that Trump inflated the value of his business entities in the city with real estate pricing and alleged he engaged in a pattern of "repeated and persistent fraud." 

The case, however, according to an Associated Press analysis is unprecedented in 70 years of case history.  

The outlet stated in a report that “taking away Trump's business empire would stand alone under New York fraud law."

Only 12 other cases in the 70-year span of case history the report analyzed had similar punishments levied against a fraudulent business entity. In addition, each of these cases had a victim of fraud who lost money. In the case of Trump, there were no victims, banks were paid back loans, and nobody took on losses.

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