Legal Blow to Trump: Judge Imposes $350M Fine and Three-Year Business Ban in New York

Judge Arthur Engoron attends the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York City, January 11, 2024. Trump's legal team will deliver closing arguments January 11 in the fraud case after the judge barred the former president from using the trial finale as an election campaign grandstand.

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.

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

NEW YORK, NEW YORK – JANUARY 11: Former U.S. President Donald Trump and his lawyers Christopher Kise and Alina Habba attend the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court on January 11, 2024 in New York City. Trump won’t make his own closing arguments after his lawyers objected to Judge Arthur Engoron’s insistence that Trump stay within the bounds of “relevant, material facts that are in evidence” of the case. Prosecutors allege that Trump and his two sons Donald Trump Jr. and Eric Trump conspired to inflate his net worth on financial statements provided to banks and insurers to secure loans.


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.

Leave A Reply

Your email address will not be published.