Former US President Donald Trump has been ordered to pay nearly $355 million and banned from doing business in New York state for three years after pleading guilty to fraud. Trump is currently leading the race for the Republican nomination to challenge Democratic President Joe Biden in the November 5 US election.
“The court hereby enjoins Donald Trump from serving as an officer or director of any New York corporation or other entity within the state for a period of 3 years,” Judge Arthur Engoren wrote in his ruling, ordering Trump to pay exactly $354,868,768.
In doing so, Engoren reversed his previous ruling from September ordering the “dissolution” of companies that control the pillars of Trump’s real estate empire. The judge has now said that is no longer necessary as he appoints an independent monitor of Trump’s businesses.
In his decision, the judge also wrote that Trump and the other defendants in the case “are incapable of admitting their wrongdoing” and added: “The complete lack of remorse borders on pathology. Instead, they adopt a posture of ‘see no evil, hear no evil, I speak no evil’, which the evidence refutes’.
The lawsuit, filed by New York Attorney General Leticia James, accused the former US president of overstating his net worth by $3.6 billion a year over a decade in order to trick bankers into giving him better loans. .
Trump’s lawyer, Alina Haba, called the ruling a “manifest injustice” and “the culmination of a multi-year, politically fueled witch hunt” against him.
“If this decision stands, it will serve as a signal to every American that New York is no longer open for business,” Haba said, adding that he plans to appeal.
Trump’s sons, Don Jr. and Eric, were also defendants in the case and were ordered to pay $4 million each. They were banned from running any New York companies for two years. “One of the sons, Eric Trump, is the de facto head of the Trump Organization, and the decision calls into question whether any family members will be able to run the business in the near future,” the NYT wrote.
Trump himself has denied wrongdoing and called the whole thing a political vendetta against New York’s attorney general, who is a Democrat.
Back in November, however, during a deposition, Trump admitted that some of his property prices were inaccurate, but insisted that banks are required to do their own due diligence before making loans. He will most likely appeal, but either find the money for it or provide a bond within 30 days.
A total of 4 criminal cases are pending against the former president, including another in New York related to secret payments to a porn star before the 2016 election. The judge in this case set March 25 for the start of the trial. Trump has been indicted in Florida for handling classified documents after leaving the White House, and in Georgia for trying to overturn his 2020 election loss.
Trump has pleaded not guilty to all four counts.
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2024-02-16 21:15:44
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