Donald Trump fined more than $350m in his New York civil fraud case
A judge has ordered Donald Trump to pay a $354.9m (£281.6m) fine in his New York civil fraud case.
On Friday, 16 February, Judge Arthur Engoron also banned Trump from serving as an officer or director of any New York corporation for three years.
The court previously found Trump guilty of a scheme to secure favourable financing terms for some of his brand-building properties.
Judge Engoron cancelled his prior ruling from September ordering the “dissolution” of companies that control pillars of Trump’s property empire.
He said it was no longer necessary because he is appointing an independent monitor and compliance director to oversee Trump’s businesses.
The lawsuit was brought by the New York Attorney General Letitia James, who accused Trump and his family businesses of overstating his net worth by as much $3.6bn (£2.9bn) a year for a decade to fool bankers into giving him better loan terms.
By making himself seem more wealthy, Trump qualified for better loan terms, saved on interest, and was able to complete projects he might otherwise not have finished, state lawyers said.
Trump has denied wrongdoing and called the case a political vendetta. He is expected to appeal the ruling.
The civil fraud case could deal a major blow to Trump’s property empire as he bids to challenge Democratic incumbent Joe Biden in the 5 November US Presidential election.
Judge Engoron ruled in September that Trump had engaged in fraud and ordered his business empire be partially dissolved. The full implications of that order are still unclear, and Mr Trump is appealing.
Friday’s ruling came after a contentious three-month trial in Manhattan.
During defiant and meandering testimony in November, Trump conceded that some of his property values were inaccurate, but insisted banks were obligated to do their own due diligence.
He used his occasional court appearances as impromptu campaign stops, delivering incendiary remarks to reporters and insisting his enemies were using the courts to prevent him from retaking the White House.
Trump is under indictment in four criminal cases, including one in New York related to hush money payments made to a porn star ahead of the 2016 election.
The judge overseeing that case on Thursday set a 25 March trial date over the objections of Trump’s lawyers, who sought to delay it due to his crowded legal and political schedule.
Trump has also been charged in Florida for his handling of classified documents upon leaving office, and in Washington and in Georgia for his efforts to overturn his 2020 election loss.
Trump has pleaded not guilty in all four cases.
During the New York civil case, Trump lashed out in the courtroom on 11 January against both the judge and Ms James while proclaiming his innocence. “You have your own agenda,” Trump scolded Judge Engoron, who responded by telling Trump’s lawyer, “Control your client.”
The judge during the trial had fined Trump $15,000 for twice violating a gag order against disparaging court staff.
Additional reporting by AP.
