Former President Donald Trump has been ordered by a New York judge to pay approximately $355 million in fines and has been barred from holding top positions at any New York company for three years, including his own Trump Organization. This ruling comes as a result of a civil business fraud trial in which Judge Arthur Engoron found Trump liable for conspiring to manipulate his net worth.
Key Takeaway
Former President Donald Trump has been ordered to pay a substantial fine and has been barred from holding top positions at any New York company for three years following a civil business fraud trial. The ruling represents a significant legal setback for Trump and his family, with potential far-reaching implications for their business activities in New York.
Financial Penalty and Business Ban
In addition to the substantial financial penalty, the judge’s ruling also includes a prohibition on Trump serving in key roles at any New York business entity for the next three years. This decision is a significant blow to Trump’s business activities in the state and could have far-reaching implications for his future endeavors in New York.
Accusations of Fraud
Prosecutors had sought a $370 million fine, alleging that Trump, along with his sons Donald Trump Jr. and Eric Trump, falsified financial statements and business records as part of repeated and persistent fraud. The ruling marks a major legal setback for the former president and his family, adding to the legal challenges they have faced in recent years.
Legal Challenges and Appeals
It is anticipated that Trump will appeal the fine, which could potentially increase to $400 million with interest. This ongoing legal battle adds to the series of legal disputes that Trump has been embroiled in, including a recent case in which he was ordered to pay $83.3 million for defamation.
