A New York judge issued a ruling on Friday in a civil case against Donald Trump and his adult sons, ordering them to pay a fine exceeding $350 million in the “New York fraud” case, as reported by The New York Times. This decision by Judge Arthur F. Engoron concludes a years-long case where the New York Attorney General brought to trial Trump’s exaggerated wealth claims, without a jury, leaving the decision solely in the hands of Judge Engoron. His ruling imposes a broad range of sanctions that threaten the former president’s business empire as he faces four criminal trials and seeks to return to the White House.
Judge Engoron not only imposed a three-year ban preventing Mr. Trump from holding senior positions in any New York company, including his own, but also applied this penalty to the former president’s adult sons for two years. One of the sons, Eric Trump, is the de facto CEO of The Trump Organization, casting doubt on whether any family member can manage the company in the near term.
Mr. Trump will appeal the financial penalty – which could rise to $400 million or more once interest is added – but must either post the funds or secure a bond within 30 days, as the ruling won’t bankrupt him, given that most of his wealth is tied to real estate.
According to the Associated Press, the ruling could subject Trump to millions of dollars in damages and other penalties. Judge Arthur Engoron had already ruled that Trump inflated his wealth on financial statements presented to banks, insurance companies, and others for securing loans and making deals.
Donald Trump has been involved in multiple legal battles, including a significant case brought by E. Jean Carroll, who alleged that Trump assaulted her in 1996. A jury in federal court in Manhattan found Trump liable on two civil claims under New York law: one for battery and another for defamation based on Trump’s denial of Carroll’s allegations. The jury awarded Carroll $5 million, although Trump was not found to have raped her, as Carroll had alleged, but rather to have sexually abused her. This verdict is notable as it marks Trump as the first president to be deemed liable for sexual assault by a jury of his peers.
In another legal matter, Trump faces charges related to the handling of classified documents after his presidency. The Justice Department initiated an investigation in 2022, which led to Trump being charged with 37 felonies. The charges include violations of the Espionage Act for allegedly retaining sensitive national security information at his Mar-a-Lago resort and efforts to obstruct the investigation. A trial is scheduled for May 20, 2024, in Fort Pierce, Florida. Trump’s legal team and the Justice Department had differing opinions on the trial date, with the former seeking to push it past the 2024 election, while the latter aimed for an earlier date. The trial’s complexities, including the handling of classified evidence, might lead to delays.
