A New York judge ruled on Friday, February 16 against Donald Trump, imposing a fine of 364 million dollars, for what, as he ruled, was a years-long plan to deceive banks and other entities with financial statements that inflated the former president’s wealth.
Judge Arthur Engoron issued his decision after of a two and a half month trial in which the Republican presidential front-runner raged under oath that he was the victim of a rigged legal system.
The harsh sentence was a victory for New York Attorney General Letitia James, a Democrat, who sued Trump for what she said was not just harmless bragging.a, but years of deceptive practices while building the multinational collection of skyscrapers, golf courses and other properties that catapulted Trump.
New York Attorney General Letitia James requested 370 million dollars and a ban on Trump and other defendants from doing business in the state. Such a sanction could potentially damage the real estate empire that helped Trump build his image as a savvy billionaire businessman and propelled him to fame and the White House.
‘Busy’ week for Trump in court
It’s already been a big week in court for Trump. On Thursday, another New York judge ruled that sHe will stand trial March 25 on charges of falsifying his company’s records. as part of an effort to buy the silence of people with potentially embarrassing stories of alleged infidelity. 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, an Atlanta judge heard arguments on whether Fulton County District Attorney Fani Willis should be removed from Trump’s election interference case in Georgia because she had a personal relationship with a special prosecutor she hired.
James’ office has estimated that Trump exaggerated his wealth by up to $3.6 billion. State attorneys contend that Trump used the inflated numbers to obtain lower insurance premiums and favorable loan terms, saving at least $168 million in interest alone.
Trump has denied wrongdoing and his lawyers have said they will appeal if Engoron rules against him.
The Republican presidential front-runner testified Nov. 6 that his financial statements actually understated his net worth and that banks did their own investigations and were happy with his business. During closing arguments in January, he denounced the case as a “fraud on me.”
Engoron is settling six claims in the James lawsuit, including allegations of conspiracy, falsification of business records and insurance fraud. State attorneys alleged that Trump exaggerated his wealth by as much as $3.6 billion a year.
Before the trial, Engoron ruled on James’ main claim and found that the financial statements of trump They were fraudulent. As punishment, the judge ordered that some of his companies be removed from his control and dissolved. An appeals court has put it on hold.
Because it is civil in nature, not criminal, there is no possibility of prison.
