New York Judge Arthur Engoron's recent ruling has ordered former President Trump, his companies, and co-defendants to pay nearly $364 million in total for civil fraud related to his business practices. This decision is significant, coming shortly after another ruling that required Trump to pay $83.3 million in a separate trial. Trump has also been barred from running a business as an officer or director in New York for three years.
The breakdown of the penalties includes Trump and his organizations owing $354,868,768, Eric Trump and Donald Trump, Jr. each owing $4,013,024, and Allen Weisselberg owing $1,000,000. Additionally, Trump associates Weisselberg and Jeffrey McConney are permanently prohibited from controlling the finances of any business operating in New York, while Eric Trump and Donald Trump, Jr. are banned from serving as officers or directors of New York corporations for two years.
New York Attorney General Letitia James had sought a $370 million penalty from Trump, accusing him of committing decades of financial fraud and aiming to prevent him and his sons from doing business in New York ever again. Engoron's ruling, which found Trump liable for financial fraud back in September, was highly anticipated to determine the penalties Trump and his business empire would face.
During the trial, Trump admitted to having some involvement in the financial statements central to the lawsuit. James alleged that Trump and his associates inflated his net worth by billions over more than a decade. The judge imposed a gag order on Trump after he attacked a law clerk on his Truth Social account, resulting in fines totaling $15,000 for violating that order.
Trump has faced several legal battles as he seeks the Republican presidential nomination, using the media attention from his appearances at the trial to portray himself as a victim of politically motivated prosecutors. This latest ruling adds to his legal woes, following the defamation case where he was ordered to pay damages to E. Jean Carroll.
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