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In a landmark ruling, a New York judge has ordered former President Donald Trump to pay approximately $454 million in penalties as part of a civil business fraud trial. The staggering sum includes $355 million in disgorgement, aimed at returning ill-gotten gains, along with more than $98 million in prejudgment interest accruing daily until settled, according to a spokesperson for the attorney general’s office.
Manhattan Supreme Court Judge Arthur Engoron also imposed a three-year prohibition on Trump running any business in New York and barred him from seeking loans from state-registered financial institutions for the same duration.
The trial, conducted without a jury, stems from a lawsuit filed by New York Attorney General Letitia James, alleging fraudulent inflation of Trump’s assets to enhance his net worth and secure financial benefits. Reacting to the ruling, James emphasized the principle of equal treatment under the law, stating, “There simply cannot be different rules for different people.”
Trump, accompanied by his attorney Chris Kise, expressed his intention to appeal the decision, citing confidence in the Appellate Division to rectify what they perceive as erroneous rulings by the trial court.
The case has broader implications beyond Trump himself, as his two adult sons, Eric and Donald Jr., were also implicated. Both face multimillion-dollar fines and two-year bans from serving as officers or directors of any New York corporation.
The judge’s ruling notably stopped short of James’ request for a lifelong ban on Trump’s involvement in New York’s real estate industry, opting instead for a hefty financial penalty and a temporary prohibition on business operations.
Engoron’s decision underscores the seriousness of the charges, dismissing defense claims of innocence and highlighting the defendants’ refusal to acknowledge wrongdoing or express remorse throughout the trial proceedings.
The ruling represents another legal setback for Trump, who is concurrently facing numerous criminal and civil lawsuits while actively campaigning for the presidency once again. Despite legal challenges, Trump remains a frontrunner for the Republican nomination in the upcoming presidential election, setting the stage for a potential rematch with incumbent President Joe Biden.
As the appeals process unfolds, the outcome of this trial will reverberate across the political and legal landscape, shaping perceptions of accountability and integrity in business and governance.