New York: In a significant blow to former President Donald Trump’s real estate empire, a New York judge has ordered him to pay a staggering $354.9 million in penalties for fraudulent practices. The ruling, handed down by Justice Arthur Engoron, comes as a result of Trump’s alleged overstatement of his net worth to deceive lenders, marking another legal setback for the embattled ex-president.
Engoron’s ruling also includes a three-year ban on Trump from serving as an officer or director of any New York corporation, further limiting his involvement in the state’s business landscape. The decision stems from a civil case brought forward by New York Attorney General Letitia James, accusing Trump and his family businesses of inflating his net worth by as much as $3.6 billion annually over a decade to secure better loan terms from banks.
Despite Trump’s vehement denial of any wrongdoing, Engoron’s scathing critique of Trump’s behavior during the trial, including his refusal to answer questions directly and his penchant for veering off-topic, severely undermined his credibility in the eyes of the court.
The trial, which spanned over three months in Manhattan, witnessed Trump’s occasional theatrics as he used the courtroom as a platform for political grandstanding, accusing his adversaries of orchestrating a politically motivated witch hunt against him.
However, Engoron’s ruling stands as a stark reminder of the legal jeopardy Trump faces, not only in this civil fraud case but also in several other criminal proceedings, including charges related to hush money payments made to a porn actress and his efforts to overturn the 2020 election results.
Trump’s legal team has vowed to appeal the decision, labelling it a “manifest injustice” and decrying it as the culmination of a politically driven campaign against him. Yet, with mounting legal challenges and a growing list of legal troubles, Trump’s future remains uncertain, casting a shadow over his aspirations for a political comeback.