The judge overseeing a civil business fraud trial against Donald Trump recently ruled that the former president, his sons, business associates, and company must pay over $350 million in damages and face temporary restrictions on conducting business in New York.
Judge Arthur Engoron has ruled that the former president and the Trump Organization must pay more than $354 million in damages. Additionally, Trump is prohibited from holding any officer or director positions in a New York corporation or legal entity for three years, including his own company.
New York Attorney General Letitia James, whose office filed the case, stated that the judgment exceeds $450 million, with pre-judgment interest causing the amount to grow daily until it is settled.
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Donald Trump is now being held accountable for his deceitful actions and massive fraud. James emphasized the importance of abiding by the law, stating that the ruling was a significant win for the state, the nation, and those who believe in equal treatment under the law.
The ruling prohibits Trump and his company from seeking any bank loans for a period of three years. Following the decision, Trump confidently stated, “We will appeal and we will prevail.”
Addressing the media at Mar-a-Lago on Friday night, Trump criticized the ruling as “a fine of 350 million for doing a perfect job.” He reiterated previous criticisms by labeling the judge as “crooked” and the attorney general as “corrupt.”
Trump did not answer any questions after delivering a brief six-minute speech. The judge’s ruling could have a significant impact on both Trump’s financial situation and public image.
Trump has always portrayed himself as a prosperous businessman, a reputation he used to his advantage during his initial presidential campaign. Trump is currently seeking the presidency for a third time.
Trump Faces Multiple Criminal Trials, Criticizes Ruling on Truth Social
This situation is just one of several he is currently dealing with, including four distinct ongoing criminal trials, with the initial one set to start on March 25.
The judge also mandated the ongoing appointment of an Independent Monitor and the installation of an Independent Director of Compliance for the company.
Trump criticized the ruling on his social media platform Truth Social, labeling it as an unlawful and un-American decision against himself, his family, and his business.
Throughout the trial, Trump and executives at his company, along with his sons Donald Trump Jr. and Eric Trump, tried to shift responsibility for the inflated financial statements central to New York Attorney General Letitia James’ fraud case onto the accountants who prepared them. Engoron expressed a differing opinion.