16 February 2024
A New York judge on Friday ordered former President Trump to pay $354 million in penalties in a civil fraud case that has dealt a stark blow to his family’s business empire.
Judge Arthur Engoron’s 92-page decision came just weeks after closing arguments in the case following a months-long trial last year during which Trump frequently lambasted the judge and the prosecutor who brought the case.
New York Attorney General Letitia James (D) sued Trump in 2022, alleging he falsely altered his net worth on key financial statements to receive tax and insurance benefits. The documents, which detailed the value of the Trump Organization’s various assets, were sent to banks and insurers to secure loans and deals, which the state purports is evidence of fraud.
Engoron found Trump, the Trump Organization and several top executives, including his adult sons, liable for fraud before the trial began. The verdict is at the sole discretion of Engoron because there was no jury at the trial.
The fine is some $16 million less than the $370 million the attorney general’s office asked the judge to force Trump to pay. It also blocks Trump from participating in New York business for three years.
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