Judge orders Trump to pay $354.9 million penalty for asset inflation fraud
The judge, Arthur Engoron, further imposed a ban preventing Trump from holding the director position in any New York company for three years.
6:48 AM EST, February 17, 2024
According to the lawsuit lodged by New York Attorney General Letitia James, Trump's firms and his family inflated the value of their net assets by $3.6 billion over a decade, with the intent of securing better loan repayment terms.
Trump, vehemently denying any unlawful behavior, has insisted that the case is nothing more than a politically motivated act of retribution by Democrat James. He has communicated his intention to appeal.
A demonstration of absolute remorselessness
Highlighting his verdict, the judge emphasized the defendants' "absolute lack of remorse and guilt," which, in his perception, "skirts the edges of pathology."
This civil fraud case in New York could significantly damage Donald Trump. This past September, Engoron proclaimed that Trump had enacted fraud, deciding to enforce a partial dissolution of his business empire. However, as of this Friday, he has rescinded this most recent ruling.
