Trump’s historic civil fraud trial ruling could spur an NY business exodus
NY Post
The men and women who run Gotham’s big banks and financial firms have had a long and somewhat tortured history with the former president dating back from his days as a real estate mogul.
Yet they see what’s happening to Donald Trump in the byzantine Letitia James bank-fraud prosecution and the over-the-top penalties issued by a state judge that could bankrupt Trump over relatively little.
They know they could be next — unless of course, they get out of Gotham, and fast.
That’s the word I’m getting from top executives at financial services firms, who paid close attention to the Trump case because of its broad implications for their businesses.
For years they’ve eyed the New York State Attorney General’s Office as a nuisance, its occupant using state laws, like the Martin Act, that give it wide latitude to prosecute financial crimes (and some petty crimes) for political advancement.
Recall: Before he was known as “Governor Socks,” Eliot Spitzer was the much-feared New York AG, the so-called sheriff of Wall Street, cracking down mostly on minor offenses that forced financial firms to fork over billions.
