WELCOME BACK TO CBS NEWS. I AM LANA ZAK. >>> THE LARGEST JUDGMENT TO DATE HAS BEEN ISSUED AGAINST FORMER PRESIDENT TRUMP. THE JUDGE HAS IMPOSED A PENALTY OF MORE THAN $350 MILLION AGAINST DONALD TRUMP, AS WELL AGAINST HIS ADULT SONS AND HIS CORPORATIONS. THE FORMER PRESIDENT IS BEING ORDERED TO PAY MORE THAN $354 MILLION IN DAMAGES. HIS CODEFENDANTS ARE BEING ORDERED TO PAY ANOTHER $10 MILLION IN FINES. THE JUDGE ALSO BANNED THE FORMER PRESIDENT FROM CONDUCTING BUSINESS IN THE STATE OF NEW YORK OVER THE NEXT THREE YEARS. ERIC TRUMP AND DONALD TRUMP JR. ARE PREVENTED FROM SERVING AS AN OFFICER OR DIRECTOR FOR THE NEXT TWO YEARS. WE HAVE TEAM COVERAGE OF THIS RULING NOW. SCOTT MacFARLANE AND MAJOR GARRETT ARE IN WASHINGTON. I'M GOING TO START FIRST OF ALL WITH CAMPAIGN REPORTER, KATRINA KAUFMAN. KATRINA, IT'S INTERESTING, MOST OF THIS IS AGAINST FORMER PRESIDENT TRUMP AND THE CORPORATION. THERE ARE SPECIFIC TIMES WHERE THE JUDGE CALLS OUT ERIC TRUMP AND DONALD TRUMP JR. TALK TO US ABOUT THE JUDGMENTS AGAINST DONALD TRUMP'S CHILDREN. >> THIS REALLY IMPLICATES HIS SONS. THEY ARE NOT ABLE TO DO BUSINESS IN NEW YORK FOR TWO YEARS RITA PUTS IN QUESTION WHO WILL LEAD THE TRUMP CORPORATION. CANNOT BE A TRUMP FAMILY MEMBER. ANOTHER THING THAT WAS INTERESTING, OF ANKE, SHE'S NOT A DEFENDANT BUT WHEN SHE TOOK THE STAND SHE SAID SHE DIDN'T RECALL MORE TIMES THAN I CAN COUNT. WHILE THE JUDGE FOUND HER THOUGHTFUL AND ARTICULATE HE FOUND THAT SUSPECT. IT QUESTIONS THE CREDIBILITY OF WITNESSES. THERE WAS ANOTHER WITNESS WHO TRUMP THOUGHT WAS A STAR WITNESS FOR HIS CASE AND HE IS AN ACCOUNTING PROFESSOR FROM NYU. IF YOU PAY SOMEBODY MILLION DOLLARS THEY WILL SAY ANYTHING ON YOUR BEHALF. HE AGAIN SAYS THAT HE DID NOT FIND THAT TESTIMONY CREDIBLE. >> I WILL BRING IN, WASHINGTON CORRESPONDENT, MAJOR GARRETT. HE IS IN WASHINGTON. I WANT TO GET YOUR TAKE ON SOME OF WHAT WE ARE HEARING. THERE IS VERY STRONG LANGUAGE COMING FROM THE JUDGE IN ALL OF THIS. IN FACT, SAYING THAT THE DEFENDANTS FACTS AND EXPERT WITNESSES DENIED REALITY. SAYING THAT THE DEFENDANTS LACK OF CONTRITION AND REMORSE BORDERS ON PATHOLOGICAL. AT ONE POINT HE SAYS THE DEFENDANTS REFUSAL TO ADMIT ERROR CONTINUED TO CONSTRAIN THE COURT. JUST A LITTLE BIT OF TIME TO START TO LOOK INTO THIS JUDGMENT, WHAT JUMPS OUT TO YOU? >> Reporter: THE JUDGE KNEW THIS WOULD BE APPEALED AND HE KNEW THE ARGUMENT THAT IT WAS A SELECTIVE APPLICATION OF NEW YORK LAW, BASED ON EVALUATIONS AND ALLEGED FRAUD, IT WOULD STAND UP. HE BETTER HAVE AN EXCELLENT NATION AS TO WHY THIS CASE WAS HANDLED THE WAY IT WAS. HIS EXPLANATION IS EXACTLY LIKE YOU ARTICULATED. THE JUDGE SAYS THAT IN THE PATTERN OF CONVERSATION AND TESTIMONY, AND ACTUAL EVIDENCE, THE TRUMP ORGANIZATION LED BY THE FORMER PRESIDENT REFUSED TO ACKNOWLEDGE ERRORS. DID NOT SAY THAT IT WOULD HAVE TO TAKE REMEDIAL ACTION TO CORRECT THE OBVIOUS ERRORS IN THEIR BUSINESS PRACTICES. FRAUDULENT, AS ASSERTED BY THE NEW YORK ATTORNEY GENERAL. IF NOT PENALIZED, WOULD INEVITABLY CONTINUE TO ENGAGE IN MANIFEST FRAUD IN NEW YORK. SO MUCH SO, NOT ONLY IS THE FORMER PRESIDENT REQUIRED TO PAY THIS DISGORGEMENT. BUT, OTHERS IN THE TRUMP ORGANIZATION WERE FOUND TO BE LIABLE FOR THE CULTURAL FRAUD. ALLEN WEISSELBERG AND JEFFREY -- WHAT IS EVIDENT, THE FACT PATTERN AND LAW, WHEN IT GETS TO AN APPEALS COURT, TO SAY I HAD TO TAKE THE STEPS. IF I DIDN'T, NOT ONLY THE PUBLIC IN NEW YORK WOULD BE HARMED, BUT THE BUSINESS CLIMATE IS IN DANGER AND BE THREATENED MORE. >> I WANT TO FOLLOW UP ON A POINT YOU WERE MAKING. ALLEN WEISSELBERG AND JEFFREY HAVE BEEN BANNED, NOT FOR A PERIOD OF TWO OR THREE YEARS, BUT FOR THE REST OF THEIR LIVES. WHY DO YOU THINK THERE WAS A DIFFERENCE AND A HARSHER PENALTY FOR THOSE TWO OFFICERS OF THE TRUMP CORPORATION, AS OPPOSED TO THE PEOPLE THAT HAVE TRUMP IN THEIR NAME? IN THEY THE >> THEY WERE THE ONES CLOSEST IN ALL OF THESE REPRESENTATIONS. IT'S AN ACKNOWLEDGMENT THAT THE TRUMP ORGANIZATION THROUGH FORMER PRESIDENT TRUMP AND HIS SONS, IS A BRANDING ORGANIZATION. THE BRAND MATTERS AND ARE REPRESENTATIVE OF THAT BRAND. THEY ARE NOT NECESSARILY RESPONSIBLE DIRECTLY INVOLVED IN ALL OF THE NUMERICAL EVALUATIONS FOR THE OTHER TWO GENTLEMEN ARE QUITE OBVIOUSLY. WITHIN THE TRUMP ORGANIZATION THEY WERE MOST DIRECTLY INVOLVED IN FROM THE JUDGES PERSPECTIVE, THEY ARE THE MOST LIABLE FOR IT. THEY RECEIVED THE HARSHEST SANCTION. >> NOW I WILL BRING CONGRESSIONAL CORRESPONDENT, SCOTT McFARLANE, IN WASHINGTON. WE ARE ALREADY SEEING FUNDRAISING COMING OFF THE TRUMP CAMPAIGN. TRUMP, MAKE AMERICA GREAT AGAIN, 2024, WRITES THE WITCHHUNT, THE JUDGE JUST ROLLED AGAINST ME. TALK TO US ABOUT THE RESPONSE FROM THE FORMER PRESIDENT, HIS LEGAL TEAM, AND HOW THIS LIKELY WILL PLAY OUT ON THE CAMPAIGN TRAIL? >> Reporter: AND MOST LIKELY WILL BE THE APPEAL THAT IS IMMINENT. THE POLITICAL POSITIONING OF DONALD TRUMP HAS BEEN CONSISTENT THROUGHOUT THIS CASE. ARGUING INVARIABLY THAT IT IS A WITCHHUNT. THE STATEMENT ISSUED BY TRUMP.ORG AFTER THIS JUDGMENT, IT IS A MISCARRIAGE OF JUSTICE. IT WILL CAUSE AN EXIT IS OF BUSINESSES OUT OF NEW YORK STATE IF IT IS LEFT TO STAND. THIS WAS SOMEWHAT PREDICTABLE. THERE WAS A SILVER LINING FOR DONALD TRUMP. THERE WAS A PARTIAL VICTORY. IT WAS NOT AN ORDER THAT HE DISSOLVED HIS BUSINESS. WHAT THE JUDGE ORDERED, INDEPENDENT DIRECTOR OF COMPLIANCE TO BE PAID FOR BY TRUMP.ORG. THAT WILL ALLOW THE BUSINESS TO REMAIN A THING. THE BUSINESS HAS MADE TRUMP A LOT OF MONEY. IT'S ALSO SOMETHING HE HAS TAKEN GREAT PRIDE TO TRY TO BUILD HIS BRAND BEFORE HIS POLITICAL CAREER. SOMETHING ELSE JUMPS OUT AT ME FROM THIS JUDGMENT, IT'S WHAT THE JUDGE SAYS ABOUT TRUMP'S CHILDREN. THE LANGUAGE HE USES. ABOUT TRUMP'S TWO SONS, HE FINDS THAT THEY INTENTIONALLY FALSIFIED BUSINESS RECORDS AND THEY ARE TO BE BARRED TO BE AN OFFICER OF THE CORPORATION IN NEW YORK FOR THREE YEARS. I MORE STRUCK BY THE PHRASES HE USES TO DESCRIBE OF ANKE TRUMP. SHE FAMOUSLY TESTIFIED. SHE HAD NO RECOLLECTION OF THE EVENTS THAT GAVE RISE WHEN SHE WAS BEING QUESTIONED. SHE SUDDENLY HAD QUITE A BIT OF MEMORY WHEN SHE WAS BEING QUESTIONED BY HER OWN ATTORNEYS IN RESPONSE. WHAT THE JUDGE SAYS, HER LACK OF MEMORY ASIDE, HE WILL LET THE EMAILS AND RECORDS DETERMINE THE OUTCOME. HE FOUND THE EMAILS AND RECORDS THROUGH IVANKA WERE PART OF THE JUSTIFICATION FOR THIS RULING. THE JUDGE ALSO MADE A POINT OF SAYING THAT IVANKA WAS A THOUGHTFUL, ARTICULATE, AND POISED WITNESS. THE COURT FOUND HER INCONSISTENT RECALL SUSPECT. IT'S NOTEWORTHY THAT NOT ONLY THAT THE JUDGMENT HAS IMPLICATIONS OF TRUMP'S SONS, BUT THERE IS A LOT OF BANDWIDTH TALKING ABOUT HIS IMPRESSIONS OF THE CHILDREN AND WHAT ROLE THEY PLAYED. >> IF I COULD JUMP IN -- THAT IS REALLY WHAT IS GOING TO BE BEFORE THE APPELLATE JURISDICTION ON THIS. THEY ARE ACCUSED, THE TRUMP ORGANIZATION, ONLY OF INFLATING ASSET VALUES TO MAKE MORE MONEY. THE DOCUMENTS PROVE THIS OVER AND OVER AGAIN. THIS IS A VENIAL SIN. NOT A MORAL SIN. HE DID NOT COMMIT MURDER OR ARSON. THEY DID NOT ROB A BANK AT GUNPOINT. DONALD TRUMP IS NOT BERNARD MADE OFF. THE JUDGE WRITES THAT THEY ADOPT A SCENE WITH THE, HEAR NO EVIL, SPEAK NO EVIL, CONCEPT. IT IS CONSTITUTED TO FIND FACTS AND APPLY THE LAW. THIS PARTICULAR CASE, APPLYING THE LAW TO THE FACTS, THE COURT INTENDS TO PROTECT THE INTEGRITY OF THE FINANCIAL MARKETPLACE. THUS, THE PUBLIC AS A WHOLE. THIS GOES TO THE LARGER CONSTRUCT OF THE APPEAL. THE JUDGE IS SAYING, I'M NOT GOING OUT OF BOUNDS HERE. I AM DOING THIS FOR A VERY SPECIFIC REASON, AND FORMED BY THE EVIDENCE AND THE DEFENDANTS ATTITUDE. TO THE EVIDENCE AND THE FACT PATTERN, THEY MUST TAKE ACCOUNTABILITY. >> I HIGHLIGHTED THE SAME SECTION. KATRINA, I WANT YOUR TAKE ON THIS APPEAL QUESTION. ONE OF THE ARGUMENTS THAT WAS RAISED, THIS WAS COMMON BUSINESS PRACTICE. THE TRUMP ORGANIZATION WAS NOT DOING ANYTHING OTHER THAN ANY OTHER BIG CORPORATION IN NEW YORK. THE JUDGE WROTE, THE COMMON EXCUSE THAT EVERYBODY DOES IT IS ALL THE MORE REASON TO STRIKE FOR HONESTY AND TRANSPARENCY. TO BE VIGILANT TO ENFORCE THE RULES. HOW MUCH OF THAT WILL BE PART OF THE DEFENSE AS THIS IS APPEALED BY TRUMP? >> THEY MIGHT INCORPORATE THAT TO THEIR DEFENSE. I DO THINK THAT THIS IS POTENTIALLY A, NEW YORK REAL ESTATE BUSINESS PRACTICE. IN THE SAME PASSENGER READING HE SAID, NEW YORK MEANS BUSINESS TO COMBAT BUSINESS FRAUD. I THINK ANOTHER PART OF IT IS WHAT WE WERE TALKING ABOUT EARLIER, THE LACK OF CONTRITION, AS WELL. IN THE BERNIE MADE OFF COMPARISON, AT THE END OF THE TRIAL, ONE OF THE LAST THINGS THE JUDGE ASKED, FOR THEM TO COMPARE TRUMP TO BERNIE MADE OFF. BERNIE MADE OFF ACTUALLY SAID HE WAS SORRY FOR WHAT HE DID. THE JUDGE NOTES THAT TO THIS DAY TRUMP SAID HE DID NOTHING WRONG HERE. IN FACT, THE ONLY MISTAKE HE MADE WAS THE SIZE OF HIS -- DURING CLOSING ARGUMENTS HE SAID THEY ACCIDENTALLY INFLATED THAT AND IT WAS A MISTAKE. OTHER THAN THAT, HE SAID HIS STATEMENTS WERE PERFECT. THERE WERE DISCLAIMERS, THE BANKS WERE NOT SUPPOSED TO RELY ON THEM. THAT FACTORS INTO THIS JUDGMENT. >> LET'S GET INTO THE EXTENT OF THOSE ERRORS OF THE INFLATION. MAJOR, IF YOU CAN TALK TO OUR VIEWERS ABOUT MAR-A-LAGO AND HOW MUCH THE TRUMP ORGANIZATION HAD VALUED THAT PROPERTY AT. HE HAD SOME INTERESTING INSIGHTS. >> PAGE 36. ESSENTIALLY, THE TRUMP ORGANIZATION AND THE FORMER PRESIDENT, WHO TAKES JUSTIFIABLE PRIDE IN MAR-A-LAGO. IT IS A VERY NICE PLACE. THE EVALUATION OF THAT SHOULD PROPERLY BE ESTIMATED BETWEEN $1 BILLION AND $1.5 MILLION. AS THE DOCUMENT IN THE COURT JUDGMENT SAYS, FOR THAT TO BE TRUE, IT WOULD HAVE TO BE 400 TIMES MORE VALUABLE THAN THE MOST VALUABLE PROPERTY ANYWHERE IN THE UNITED STATES. I AM INSERTING THESE WORDS, NOT FROM THE JUDGMENT ITSELF, IT DOESN'T ADD UP. THAT IS ONE OF THE THINGS THAT THE JUDGE FOUND WAS A PERSISTENT PATTERN. AND, A PATTERN THAT WAS INCORPORATED INTO THE BUSINESS CULTURE OF THE TRUMP ORGANIZATION. >> HE HAS BEEN CALLED THE TEFLON DON. SO MANY OF THE CONVENTIONAL WISDOM ITEMS DON'T APPLY. EVEN LOOKING BACK AT THE TRUMP ORGANIZATION BEING CONVICTED OF TAX FRAUD IN 2022, AND BEING FINE $1.6 MILLION. THAT WOULD HAVE KILLED ANOTHER PRESIDENTIAL CAMPAIGN OR HURT ANOTHER ORGANIZATION. DOES THIS JUDGMENT HURT DONALD TRUMP? >> IT MIGHT. THERE'S ALWAYS A POSSIBILITY WITHIN THE AURA AROUND DONALD TRUMP THAT SOMETHING WILL BEGIN THE PROCESS OF RE-EXAMINATION. I AM SCHOOLED BY THE HISTORY I HAVE EXPERIENCED SINCE THE SUMMER OF 2015 WHEN I BEGAN ON THE DAILY BASIS TO COVER DONALD TRUMP. THERE IS A RESILIENCE AROUND NOT ONLY HIS MARKETED AND BUILT NAMEBRAND AND POLITICAL BRAND, THERE IS A RESILIENCE AROUND THE SENSE THAT HIS SUPPORTERS HAVE, THE REASON HE IS IN THESE LEGAL BARRELS, NOT BECAUSE HE DID SOMETHING WRONG. , BECAUSE SOME FORCES ARE TRYING TO KNOCK HIM DOWN. BY TRYING TO KNOCK HIM DOWN, THEY ARE TRYING TO KNOCK DOWN THE ASPIRATIONS OF HIS SUPPORTERS. AS LONG AS THAT SENSE OF CONNECTEDNESS CONTINUES, JUDGMENTS LIKE THIS, WILL PROBABLY HAVE SCARCE POLITICAL IMPACT. >> SCOTT, DOES THIS HURT HIM? >> LOOK AT THE BOTTOM LINE. THE JUDGE RULED THAT DONALD TRUMP IS NOT FIT TO BE AN OFFICER OF THE CORPORATION FOR THREE YEARS. THE FRAUD, HE'S NOT ABLE TO DO THAT. OR RIGHTFUL TO DO THAT. HE IS ABLE TO BE THE LEADING CONTENDER FOR THE REPUBLICAN NOMINATION FOR THE WHITE HOUSE. CANNOT RUN A NEW YORK BUSINESS, BUT CAN RUN THE COUNTRY. THE CONTRAST COMES OUT AT ME. WHATEVER THE APPEAL IS, EVEN IF THE MONEY GETS ERASED, YOU CANNOT ERASE THAT JUDGMENT. I CANNOT GET PAST THAT. FUNDAMENTALLY, THAT IS THE BIG NONFINANCIAL TAKE AWAY OF THIS RULING. THE APPEALS WILL HAPPEN AND TRUMP FINDS HIMSELF EFFECTIVE AT DELAYING THINGS AT COURT. STALLING THINGS OUT. SLOWING THINGS DOWN. HE POTENTIALLY COULD EXTEND THE TIME FRAME ON THIS QUITE A BIT. CANNOT CHANGE THE SENTIMENT OF THE JUDGE. WHICH IS, EVEN THOUGH THIS CASE IS FINANCIAL, IT'S A DAMNING INDICTMENT. >> KATRINA, THE QUESTION ABOUT THE DELAY, ABOUT THE APPEAL, WHAT IS THE TIMELINE FOR AN APPEAL IN THIS CASE? >> I'M NOT POSITIVE WHAT THE TIMELINE IS. ONE THING I WAS THINKING ABOUT, I WAS SITTING IN THE TRIAL YESTERDAY, THEY WERE TALKING ABOUT THE BURDEN OF TRYING TO PREPARE. NOW HE'S EMBROILED IN AN APPEAL. HE WILL BE APPEALING THE CAROL VERDICT AND THIS VERDICT. WHETHER OR NOT THIS HURTS HIM IN THE POLLS, HE'S ENGAGED IN ALL OF THESE CASES. THIS IS ALL A BIG BURDEN ON DONALD TRUMP.
