Donald Trump Ordered to Pay $350m in Massive Fraud Trial Ruling
Donald Trump faced a setback in his legal battles as he was ordered to pay over $350 million in fines in a massive fraud trial ruling. The former US President made an unexpected appearance at “Sneaker Con,” a popular sneaker show, to launch his new Trump-branded high-tops. However, he was met with a mixed reaction from the crowd, with both boos and cheers greeting him.
The new footwear, called “Never Surrender High-Tops,” are shiny gold high tops with an American flag detail on the back. They are being sold for a whopping $399 on a newly launched website that also sells other Trump-branded shoes and cologne. This event came shortly after Justice Arthur Engoron delivered his verdict in Donald Trump’s civil fraud trial in New York.
The judge ruled that Trump had inflated his wealth on financial statements provided to banks and insurers in order to secure loans and favorable deals. As a result, Trump, his company, and his associates were fined $355 million, with interest amounting to $463.9 million. Additionally, they were banned from doing business in the state for three years.
Not only did Donald Trump face legal consequences, but his sons, Donald Trump Jr. and Eric Trump, were also ordered to pay fines totaling over $8 million for their involvement in the fraudulent business dealings of their father’s real estate empire. The court found that the Trump Organization had grossly inflated Trump’s net worth and assets in order to secure more favorable financing terms for their properties.
Despite these legal setbacks, Donald Trump did not hold back in expressing his grievances. During a campaign-style rally in Waterford Township, he criticized the judge who fined him, calling him “crooked.” He also referred to the New York Attorney General Letitia James as a “lunatic” and mocked other prosecutors involved in his cases.
Judge Arthur Engoron, who presided over the trial, believed the testimony of Trump’s former lawyer, Michael Cohen. Engoron dismissed Trump’s claims that Cohen was a biased witness and stated that he found Cohen’s testimony credible. He concluded that Trump had indirectly ordered Cohen to inflate financial statements in his “mob voice.”
The implications of this ruling are significant for Trump, as it raises questions about his financial standing and ability to pay the fines. However, it is worth noting that Trump will not face the corporate death penalty, as the judge did not order the dissolution of his corporate entities. Instead, two monitors will oversee the Trump Organization to prevent the submission of false figures.
Despite these legal challenges, Donald Trump remains a prominent figure in politics. Reports suggest that he privately supports a 16-week abortion ban, with exceptions for cases of rape, incest, or to save the life of the mother. However, he has chosen to keep his opinions on this matter private until the end of the Republican presidential primary.
While Donald Trump’s legal battles continue, his son Eric Trump has come to his defense. He passionately defended his father’s reputation, claiming that he revitalized and rebuilt much of New York City’s skyline. Eric referred to the case as “rigged” and expressed relief at having left New York.
Overall, Donald Trump’s fraud trial ruling has significant implications for him and his family. It remains to be seen how these legal battles will affect his political career and financial standing in the long run.
