Christopher Michelson, Professor of Principled Leadership at the Opus College of Business at the University of St. Thomas, calls for a strong rule of law and trustworthy business practices in the United States in the wake of former President Donald Trump’s civil lawsuit. recently spoke to the Star Tribune about the importance of his efforts. The fraud trial resulted in a $355 million fine.
He said at least three potential victims come to mind. Christopher Michelson is the Opus Distinguished Professor of Principled Leadership in the Opus College of Business at the University of St. Thomas.
“One would be banks making loans at low interest rates as a result of these (financial) misstatements,” Michelson told the editorial board. “Another victim would be society as a whole. As long as there is an unfair system where the powerful and the knowledgeable are subjected to a kind of game, others will have access to accurate information. When someone offers favorable terms by submitting unfair information, others are likely to submit accurate information on less favorable terms. ” Thirdly, Mr. Michelson added: “Competitors conducting business with integrity.
“The idea that this is a victimless crime is that perhaps these are big, abstract, nebulous entities – big banks, big societies, big competitors – but they are victims nonetheless.” “Maybe it’s based on ideas.”
