New York Governor Kathy Hochul recently addressed concerns raised by business owners in the state following former President Donald Trump's $355 million fine and temporary ban from engaging in commerce. In an interview with supermarket billionaire John Catsimatidis on the Cats Roundtable radio show, Hochul reassured law-abiding New York businesspeople that they have nothing to worry about, emphasizing that the penalties against Trump were stemming from his fraudulent business practices and were not a reflection of the general commercial climate in the state.

Hochul's comments were in response to fears expressed by some New York business leaders that Attorney General Letitia James's case against Trump could deter businesses and investments in the state. The governor highlighted that most New York business owners operate honestly and in compliance with the rules, unlike Trump and his associates who were found to have manipulated bank loans and insurance rates with inflated real estate values.

During the civil fraud trial, Trump denied any wrongdoing and maintained that there were no victims. He now has 30 days to secure a bond or put the $355 million fine into an escrow account for his appeals. However, Hochul made it clear that the state does not interfere in determining the size of fines and emphasized that the ruling against Trump does not reflect on the majority of law-abiding business owners in New York.

Despite Trump's vow to appeal the decision and accusations of corruption against James and Judge Arthur Engoron, the attorney general maintained that the fraud committed was intentional, egregious, and illegal. The ruling against Trump, which includes a three-year disqualification from doing business in New York, presents a significant blow to the developer-politician whose financial success has been a cornerstone of his public persona.