Several major corporations seem to be reconsidering their investment strategies following a significant ruling by Judge Arthur Engoron against President Donald Trump’s company, imposing a hefty $355 million fine for conducting business activities in the state. The fine was a result of a case initiated by New York State Attorney General Letitia James, a career Democrat who took office in January 2019 with a campaign promise to target Trump on unspecified charges. To fulfill this pledge, James pursued a civil “fraud” case against Trump and his family business.

The allegations of “fraud” were based on Trump’s repayment of loans in New York State, which were promptly paid back with interest. Despite property experts valuing Trump’s Mar-a-Lago resort in the nine figures, Judge Engoron ruled that the property was only worth $18 million, accusing Trump of inflating its value. Engoron’s decision to order Trump to pay $355 million in “damages” has raised concerns, especially since there were no actual victims in the case, and all parties involved were satisfied with the transactions.

Additionally, Engoron appointed a judge appointed by the Clinton administration to oversee Trump’s business operations in New York State, as reported by Volokh Conspiracy:

“Judge Engoron also appointed retired U.S. District Judge Barbara Jones to continue in her role as an “independent monitor” of the Trump business empire but expanded her authority to review financial disclosures before they are submitted to third parties.

“Judge Jones can hire an independent director of compliance, and she has the authority to compel Trump to sell some or even all of his businesses down the road.

“This is all punishment for Trump allegedly committing fraud by falsely in inflating and deflating the value of his real estate assets to pay lower state taxes and to receive more favorable loans from banks.”

The despotic behavior of New York state officials has not gone unnoticed. The decision has instilled concerns within the business community that companies may face persecution from the state’s radicalized judicial system based on their political beliefs. Renowned investor and “Shark Tank” star, Kevin O’Leary, announced on Monday that he will no longer engage in any future investment activities in New York.

He referred to NY as a “failing state” due to its political environment and the legal harassment of Trump. O’Leary is now redirecting his focus towards states such as Oklahoma, North Dakota, West Virginia, Florida, and Texas for his upcoming business ventures. In addition, Grant Cardone, a highly successful and prominent businessman managing $4 billion in assets through his private equity fund, declared on Monday that he will not waste his time in New York.

Cardone is the founder of 10X Studios, Cardone Ventures, and 10X Health System, and he is also a co-founder and investor in sixteen other businesses. Furthermore, he has authored seven best-selling books on business.

Cardone took to X to say: