Trump ordered to pay over $355M in civil fraud trial

Time Of Info By TOI Desk Report   February 17, 2024   Update on : February 17, 2024

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Donald Trump. Photo: Screengrab

A New York judge has ordered former US President Donald Trump and executives at the Trump Organization to pay over $364 million for fraudulent business practices in New York.

The judge on Friday found him liable in the civil fraud case for conspiring to manipulate his net worth.

The penalty of nearly $355 million plus interest could wipe out his entire stockpile of cash.

New York Attorney General Letitia James sued Trump and his associates after a three-year investigation.

Eric Trump and Donald Trump Jr, who are sons of Trump and co-defendants, are each liable for $4 million.

Former Trump Organization executive Allen Weisselberg is liable for $1 million.

According to the attorney general’s office, the total is even higher with interest — more than $450 million overall.

In an emailed statement, Trump himself called the decision a “Complete and Total SHAM” and said that the justice system overall is politically biased against him.

However, the state attorney general said in a statement that this is a tremendous victory for this nation, this state, and for everyone.

The judge also took a decision to limit the ability of Trump and his co-defendants to do business in the Empire State.

The court also prohibited Trump and his companies from serving as an officer or director of any New York business or applying for loans for three years.

His sons– Eric Trump and Donald Trump Jr,– are limited from similar leadership roles for two years.

However, Trump Organization ex-controller Jeffrey McConney, also a defendant, was not ordered to pay any amount.

McConney and Weisselberg are permanently barred from serving in the financial control function of any New York corporation.

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