Former President Donald Trump will have to pay $364 million for fraudulently misstating the value of his and his company’s assets on financial statements, a New York judge ruled Friday, levying significant punishments against the ex-president and his business that could hurt him financially and affect his business’ operations.
New York Attorney General Letitia James sued Trump, his associates—including his sons—and the Trump Organization for allegedly fraudulently misstating the value of assets on financial documents in order to obtain more favorable business deals and reflect a higher net worth for Trump.
Judge Arthur Engoron had already found the defendants liable for fraud by misstating the value of their assets, but held a monthslong trial to determine whether the Trump defendants committed the fraud knowingly and violated laws on falsifying business records, insurance fraud and issuing false financial statements.
Engoron found Trump and his co-defendants liable, ordering Trump personally to pay $354.9 million, while sons Eric and Donald Trump Jr. are each ordered to pay approximately $4 million, and former CFO Allen Weisselberg must pay $1 million.
This story is breaking and will be updated.
Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud
Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.www.forbes.com
I lost track of this one, can he repeal?
Either way, it's not a good result for him.
He added: "As detailed herein, this Court now finds defendants liable, continues the appointment of an Independent Monitor, orders the installation of an Independent Director of Compliance, and limits defendants’ right to conduct business in New York for a few years."
He can appeal, but has to put the penalty into escrow, or get a bond for it.I lost track of this one, can he repeal?
"and limits defendants’ right to conduct business in New York for a few years."I like this
If you open your window, you’ll hear the howling………….
Yes, he can (and certainly will) appeal.Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud
Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.www.forbes.com
I lost track of this one, can he repeal?
Either way, it's not a good result for him.
Yikes.He can appeal, but has to put the penalty into escrow, or get a bond for it.
The monitor will stay in place, regardless of the appeal.
I don't know if he can continue to run the company while he's appealing.
It's a state case, so even if he wins in November, he can't pardon himself.
Since part of the reason this judgement was made is because he lied about his wealth (or rather the value of various properties, I think?), I have to wonder if he even has $364 million to put in escrow.He can appeal, but has to put the penalty into escrow, or get a bond for it.
The monitor will stay in place, regardless of the appeal.
I don't know if he can continue to run the company while he's appealing.
It's a state case, so even if he wins in November, he can't pardon himself.
Lol @ "artificial intelligence".This was posted less than 15 minutes ago. I thought he was in the NYC courthouse today?
The Fake News used Artificial Intelligence (A.I.) to create the picture on the top left. These are despicable people, but everyone knows that. The other pictures are me hitting Golf balls today to show the difference. Sadly, in our Country, Fake News is all you get!
https://truthsocial.com/@realDonaldTrump/111942989327699345
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses."and limits defendants’ right to conduct business in New York for a few years."
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
Depending on how this ends up, after whatever repeals occur, that might be good for New York.I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
I expect you are unaware of how these things work.I expect Trump's New York businesses will be moved from New York. And not just Trump's businesses.
This is ridiculous. Even if he were guilty the finding is excessive and based on a judge's hatred for Trump. However, if I'm thinking of the right trial, Trump's defense presented multiple witnesses, experts in the real estate field and in banking that said Trump didn't do anything wrong. They supported Trumps claim there were no victims, Trumps valuation of the property didn't appear out of line when them, they all got paid their loans back, and in the paperwork when Trump asked for the loans he recommended that the lender do their own valuations. This really is a BS decision by a corrupt justice system. At any rate I'm certain Trump will appeal and this will drag on longer.Trump Ordered To Pay Over $350 Million In Civil Fraud Case As Judge Finds Ex-President Knowingly Committed Fraud
Judge Engoron’s ruling finds Trump and his co-defendants broadly liable for fraudulently misstating the value of their assets.www.forbes.com
I lost track of this one, can he repeal?
Either way, it's not a good result for him.
Yeah, sure. Did any of the sorry proseutors go after democrats doing the same thing? Nope. It's a Trump thing.Depending on how this ends up, after whatever repeals occur, that might be good for New York.
If, as seems likely to me, the result is that Trump is fined and barred from operating businesses in the state because he and his staff knowingly committed fraud, that sounds like the kind of business practices you don't want operating in your state.
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