Justice Arthur Engoron of New York has mandated former President Donald Trump to pay $354.9 million in fines for overstating business records to conceal a pre-2016 election payment to a porn star.
The decision, concluding a three-month Manhattan trial, complicates Trump’s legal landscape and could affect his business. Engoron barred Trump from executive roles in New York-based corporations for three years, criticizing his and his co-defendants’ apparent lack of regret as almost “pathological.”
The verdict responds to allegations by New York’s Attorney General Letitia James that Trump inflated his net worth by as much as $3.6 billion yearly to gain better loan conditions. Trump’s attorney, Alina Habba, plans to challenge the ruling, while Trump himself condemned the outcome as a “SHAM” and “WITCH HUNT” on social media.
Additionally, the judgment prevents Trump and his entities from seeking loans from New York-regulated banks for three years, citing his organization’s 2022 tax fraud conviction. This part of the ruling could significantly hinder Trump’s borrowing capabilities from major banks.
The penalties also affect Trump’s sons, Don Jr. and Eric, imposing $4 million fines on each, and Allen Weisselberg, the former CFO, who is fined $1 million and banned for life from overseeing the finances of any New York company. Attorney General James hailed the decision, highlighting the importance of accountability for Trump’s actions.
Despite these financial and legal challenges, Trump’s prominence in the Republican presidential nomination race persists. The ruling introduces a dynamic tension between his political ambitions and legal tribulations, forecasting an intense period.
