Trump Faces $355 Million in Fines and Business Ban in New York Fraud Case

Trump Hit With $355M In Penalties And Biz Ban In New York Fraud Case

In a significant development on Friday, New York state Judge Arthur Engoron delivered the long-awaited verdict in the civil fraud case involving Donald Trump.

The ruling, which reverberated through legal and political circles, mandated Trump, along with his sons Donald Trump Jr. and Eric Trump, alongside other executives, to pay a hefty sum exceeding $360 million.

Furthermore, it imposed stringent sanctions, with Trump facing a three-year ban on involvement in any New York corporation, while his sons are barred for two years.

Judge Engoron did not mince words in his assessment, remarking that the defendants’ utter lack of contrition and remorse bordered on the pathological. This scathing commentary underscored the gravity of the case and the behavior exhibited by the accused parties.

Trump (Credits: ABC News)

New York Attorney General Letitia James achieved significant victories in her pursuit of justice, securing nearly all the remedies she sought, including substantial disgorgement and the imposition of business bans, albeit for durations slightly shorter than her original requests.

In addition to the financial penalties, Judge Engoron took proactive measures to prevent future misconduct. He extended the tenure of the independent monitor overseeing the Trump Organization, citing concerns that without judicial intervention, there was a likelihood of continued fraudulent activities by Trump and his associates.

Furthermore, two high-ranking executives were permanently banned from holding positions of financial control within the organization, underscoring the severity of the wrongdoing.

Moreover, Engoron imposed restrictions on Trump and his company’s access to financial resources, prohibiting them from obtaining loans from New York financial institutions for a period of three years.

These measures were deemed necessary to safeguard against potential recurrences of fraudulent behavior and to uphold the integrity of the financial system.

It’s worth noting that Judge Engoron had previously ruled that Trump and his top executives were culpable of fraud. Friday’s verdict, therefore, marked the culmination of the legal proceedings, with Engoron delivering a decisive penalty in response to the egregious misconduct perpetrated by the defendants.

I'm Richard Rosales, I cover political news and ongoing US elections.