Andrew Weissmann Says Fraud Ruling Against Trump Is Severe [Video]

MSNBC legal analyst Andrew Weissmann predicted that the fraud ruling against former President Donald Trump will be devastating for the GOP frontrunner’s family business.

On Friday, Judge Arthur Engoron ordered the former president to pay $354 million in damages after ruling the Trump Organization committed widespread fraud. Moreover, additional fines were also levied against Trump’s sons Donald Trump Jr. and Eric Trump who each must pay $4 million in damages.

The ruling also prevents Trump from serving as a corporate officer or a director of a company in New York for three years, while his two sons received a two-year ban.

Weissmann reacted to the news during a panel discussion on MSNBC where he stated that Trump’s inability to seek a loan from a bank chartered in New York will “cause a lot of pain.”

Notably, for three years, Donald Trump and a whole variety of entities cannot seek to have a loan from any company, that is chartered in New York. To …