The judge also barred Donald Trump from serving as an officer or director of any New York corporation for three years.
By Michael R. Sisak, Associated PressFormer U.S. President Donald Trump, with lawyers Christopher Kise and Alina Habba, attends the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court, Jan. 11, 2024.
Trump, who built his reputation as a real estate titan, also was barred from serving as an officer or director of any New York corporation for three years or from getting a loan from banks registered in his native state. Engoron concluded that expert witnesses who testified for the defense “simply denied reality” and that Trump and his co-defendants “failed to accept responsibility” for their actions.
The suit accused Trump and his co-defendants of routinely puffing up his financial statements to create an illusion his properties were more valuable than they really were. State lawyers said Trump exaggerated his wealth by as much as $3.6 billion one year. Trump, one of 40 witnesses to testify at the trial, said his financial statements actually understated his net worth and that banks did their own research and were happy with his business.During the trial, Trump called the judge “extremely hostile” and the attorney general “a political hack.” In a six-minute diatribe during closing arguments in January, Trump proclaimed “I am an innocent man” and called the case a “fraud on me.
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Live updates: Trump ordered to pay nearly $355 million in civil fraud trialA judge has ordered former President Donald Trump and his companies to pay nearly $355 million in a ruling in the New York civil fraud case. Follow here for the latest live news updates.
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READ: Ruling ordering Trump and his companies to pay nearly $355M in New York civil fraud caseJudge Arthur Engoron ordered Donald Trump and his companies to pay nearly $355 million in a ruling in the New York civil fraud case.
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Donald Trump fraud verdict: $364 million penalty in New York civil caseTrump also has been barred from serving as an officer or director of any New York corporation for three years. His lawyers vowed to appeal.
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Judge fines Trump, co-defendants millions in New York civil fraud trialThe former president was found to have defrauded lenders
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Judge orders Trump and his company to pay $354 million in New York civil fraud caseThe judge's ruling bars former President Donald Trump from conducting business in New York for three years. Trump has vowed to appeal.
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