A New York judge ruled Friday against Donald Trump, imposing a $364 million penalty over what the judge ruled was a yearslong scheme to dupe banks and others with financial statements that inflated the former president’s wealth.
Trump also was barred from serving as an officer or director of any New York corporation for three years.
Judge Arthur Engoron issued his decision after a 2½-month trial that saw the Republican presidential front-runner bristling under oath that he was the victim of a rigged legal system.
The stiff penalty was a victory for New York Attorney General Letitia James, a Democrat, who sued Trump over what she said was not just harmless bragging but years of deceptive practices as he built the multinational collection of skyscrapers, golf courses and other properties that catapulted him to wealth, fame and the White House.
Trump’s lawyers had said even before the verdict that they would appeal.
It had already been a big week in court for Trump. On Thursday, a different New York judge ruled that Trump will stand trial March 25 on charges that he falsified his company’s records as part of an effort to buy the silence of people with potentially embarrassing stories him. Trump says he is innocent.
If the schedule holds, it will be the first of his four criminal cases to go to trial.
Also Thursday, a judge in Atlanta heard arguments on whether to remove Fulton County District Attorney Fani Willis from Trump’s Georgia election interference case because she had a personal relationship with a special prosecutor she hired.
James’ office has estimated that Trump exaggerated his wealth by as much as $3.6 billion. State lawyers contend Trump used the inflated numbers to get lower insurance premiums and favorable loan terms, saving at least $168 million on interest alone.
The Republican presidential front-runner testified Nov. 6 that his financial statements actually understated his net worth and that banks did their own research and were happy with his business. During closing arguments in January, he decried the case as a “fraud on me.”
Engoron is deciding six claims in James’ lawsuit, including allegations of conspiracy, falsifying business records and insurance fraud. State lawyers alleged that Trump exaggerated his wealth by as much as $3.6 billion one year.
Before the trial, Engoron ruled on James’ top claim, finding that Trump’s financial statements were fraudulent. As punishment, the judge ordered some of his companies removed from his control and dissolved. An appeals court has put that on hold.
Because it is civil, not criminal in nature, there is no possibility of prison time.
(AP)
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9 Responses
What an absolute joke, an absolute farce. There was no victim here how can there be a 364 million dollar fine
Absolute corruption the judge is a total clown.
The victims are the self acclaimed elite who got indigestion at the sight of trump in the White House.
So these victims of indigestion are out for revenge.
There will be many constitutional issues (the standing of New York to sue since it wasn’t an injured party and the allegedly injured parties didn’t complain, is this really a penalty which under the constitution is something criminal, does selective prosecution violate the first amendment, and more). It will be appealed to two New York courts, and then to the United States Supreme Court which will take years.
If you suffer from “Trump derangement syndrome” you will rejoice, but the rest of the country is likely to be concerned about the Democrats using the legal system to harass their enemies, fearing that someday they may be seen as enemies, and much prefer a system motivated by “rule of law” rather than whose goal is to persecute those being defined as enemies of the people.
This is one more reason why these filthy TREASONOUS dictatorial Marxist DemonRats MUST be destroyed and eliminated.
Either by the ballot or the bullet, but destroyed they must be
“If you suffer from “Trump derangement syndrome” you will rejoice…”
Actually, as of February 8th, we are entitled to rejoice given that it is already Adar rishon. Our marbin b’simcha has only been enhanced by Judge Enogon’s decision.
He got off easy. The commenters who are defending him don’t know the law or the case. One falsely claimed it was a prosecution and also falsely claimed that there can only be penalties in a criminal case. Someone will probably claim that he was denied a nonexistent right to a jury trial (and in any case his idiot lawyer didn’t even ask for one).
Trump is a fraudster and is finally suffering consequences.
@Kuperma
Well said!
You can bet your last dollar the NY Appeals Court will decide this in an expedited manner. Certainly by early summer. You can also rest assured SCOTUS will reject any appeal to them. They don’t involve themselves in State civil liability cases unless there are Constructional issues like due process violations. There are no such accusations being made.
Democrats also find it hilarious that the party of law and order think that Trump being punished for his crimes in courts of law after losing every appeal possible and paying millions of dollars in lawyer fees is somehow a bad thing.
There is no right to a jury in a state civil trial, but the eighth amendment’s ban on excessive fines still applies, so while the liability finding probably can’t be appealed past the NY Court of Appeals, the outrageous fine can go to federal court, and ultimately to SCOTUS.