Donald Trump Faces $350 Million Fine in Fraud Trial Verdict: Judge Orders Ban on Business in New York

New York, NY – Former President Donald Trump has been ordered to pay over $350 million in fines as part of a massive fraud trial ruling. The ruling, delivered by Justice Arthur Engoron, also includes interest of $463.9 million and a three-year ban on doing business in the state of New York. This civil fraud trial centered around allegations that Trump inflated his wealth on financial statements to secure loans and favorable deals.

New York Attorney General Letitia James brought the case and had sought $370 million in disgorgement from Trump’s entities. The judge had already determined that Trump had provided false financial figures to banks and insurers in order to secure these deals. However, the judge did not impose the corporate death penalty, sparing the ex-president from having to sell his assets.

Instead, Judge Engoron appointed two monitors to oversee the Trump Organization and ensure the accuracy of its financial reporting. This decision marks a significant reversal from a previous ruling in which the judge threatened to dissolve the corporate entities that hold many of Trump’s properties.

In addition to the financial penalties, the judge also banned Trump from serving as an officer or director in any New York corporation for three years. He is also prohibited from taking out loans with New York banks. Trump’s sons were also ordered to pay $4 million each.

Trump has responded to the ruling with accusations of a politically motivated “witch hunt,” targeting both the judge and the New York Attorney General. Despite his objections, the financial obligations imposed on the former president continue to grow, with interest accruing daily until paid.

This ruling comes amidst other legal challenges faced by Trump, including a case brought by Manhattan district attorney Alvin Bragg regarding alleged falsification of business records and a trial in Georgia related to interfering in the 2020 election. These legal battles may have significant implications for Trump’s future business dealings and political aspirations.