New York fraud case: Donald Trump formally ordered to pay $454 million in civil fraud case
Former US President Donald Trump was formally ordered to pay $454.2 million by a New York judge after he was found liable for manipulating his net worth in a civil fraud case brought by the New York State Attorney General. Was.
The payment includes a $354.9 million fine that Justice Arthur Angoron of state court in Manhattan ordered on Feb. 16, plus interest after a three-month non-jury trial.
Angoron also ordered Trump’s adult sons, Donald Trump Jr. and Eric Trump, to pay nearly $4.7 million, and Allen Weisselberg, the former chief financial officer of the Trump Organization, to pay $1.1 million, including interest.
The payment totaled $464.6 million and was scheduled for Thursday. More than $114,000 a day in interest would continue to accrue, mostly to Donald Trump alone. The decision was made public on Friday.
Attorney General Letitia James accused the defendants of illegally inflating the value of Trump’s properties in order to inflate his net worth and obtain better loan and insurance terms.
Angoron banned Trump for three years from holding a top role in any New York company or seeking loans from banks registered in the state. His adult sons received a two-year ban from leadership roles.
The judge said the defendants’ “complete lack of remorse and remorse borders on the pathological.”
Angoron’s decision threatens the business empire that Trump built during his adult life.
The Republican former president also faces four unrelated criminal charges, in which he has pleaded not guilty, as he seeks to retake the White House from Democrat Joe Biden.
Trump has accused Democrats James and Angoron of being corrupt and described the case as part of a conspiracy by political opponents.
He plans to appeal his fine to the Appellate Division, a mid-level appeals court, but will have to post the money owed or obtain bond.
Angoron rejected a request by the defendants’ lawyer, Clifford Robert, to delay enforcement of the judgments by 30 days to allow “an orderly process following the decision, especially given the magnitude of the decision”. Was.
In an email to Roberts Thursday morning, Angorone wrote: “You have failed to explain, let alone justify, any basis for the stay. I am confident that the Appellate Division will protect your appellate rights.”