Penalty increase: Trump must pay $454 million for fraud

Donald Trump was officially ordered by a New York judge to pay more than $454 million after being found responsible for manipulating his fortunein a civil fraud case brought by the New York State Attorney General.

The payment includes the $354.9 million fine imposed by Judge Arthur Engoron, in state court in Manhattan, ordered Feb. 16, plus interest, following a jury trial. which lasted three months.

Engoron also ordered Trump’s adult sons Donald Trump Jr. and Eric Trump to pay nearly $4.7 million each, and Allen Weisselberg, the Trump Organization’s former chief financial officer, to pay $1.1 million each, including interest .

The payments were set on Thursday and Interest continues to accrue. The verdict was published on Friday.

Attorney General Letitia James accused the defendants of unlawfully exaggerating the value of Trump’s real estate to inflate his net worth and obtain better loan and insurance terms.

Engoron also banned Trump from holding an executive position at a New York company or taking out loans from banks registered in the state for three years. Her adult children were banned from taking on leadership positions for two years. The judge said the defendant’s “complete lack of remorse and remorse borders on the pathological.”

Engoron’s decision looms The business empire Trump built over his adult life. The former Republican president also faces four unrelated criminal trials in which he has pleaded not guilty as he seeks to retake the White House from Democrat Joe Biden.

Trump has accused Democrats James and Engoron of corruption and described the case as part of a witch hunt by political opponents.

At the trial

During the civil trial in New York on January 11, Trump lashed out at the judge and James in the courtroom while maintaining his innocence. “You have your own agenda,” Trump scolded Engoron, who told Trump’s lawyer to “control your client.” During the trial, the judge had fined Trump $15,000 for twice violating a gag order against contemptuous court personnel.

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Engoron decided on this in September Trump’s financial reports were fake, so the focus of the trial is how much Trump should pay in sanctions. James called for a $370 million fine and a ban on commercial real estate in New York for Trump and his two adult sons, Donald Jr. and Eric Trump.

With information from Reuters.

ORP

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