Former U.S. President Donald Trump in court during his civil fraud trial
In a stunning blow to former President Donald Trump, a New York judge has ordered him and his namesake company to pay $453.5 million in damages and interest. The ruling also includes additional penalties against Trump's sons and prohibits them from conducting business in the state. This decision comes after the court found that Trump committed rampant fraud by overvaluing his real estate empire.
The judge, Justice Arthur Engoron, described the frauds committed by Trump and his associates as "leaping off the page" and shocking to the conscience. In his 92-page ruling, Engoron highlighted how Trump and his team submitted blatantly false financial data to accountants to borrow more money at lower rates, resulting in fraudulent financial statements.
One example cited by the judge was the tripling of the size of Trump's penthouse at Trump Tower. Engoron expressed his dismay at Trump's refusal to admit errors in the financial statements, calling it "pathological" and stating that their lack of contrition and remorse borders on the pathological.
Republican presidential candidate former President Donald Trump speaking at his Mar-a-Lago estate
This ruling marks a significant financial blow to Trump, who has been hit with a total of $536.8 million in court damages in the past three weeks. The decision has been met with strong opposition from Trump and his attorney, Alina Habba, who called it a manifest injustice and part of a politically fueled witch hunt.
Despite the setback, Trump remains determined and has announced plans to appeal the ruling. He maintains that the decision is a result of a corrupt judge and attorney general who had a personal vendetta against him. Trump's lawyer, Alina Habba, echoed his sentiments, stating that if the decision stands, it will send a signal that New York is no longer open for business.
Attorney Alina Habba, lawyer for former US President Donald Trump, speaking to the media outside the New York State Supreme Court
Friday's verdict is just the latest in a series of legal battles that Trump is facing. Earlier this month, he was ordered to pay $83.3 million in a civil defamation case filed by writer E. Jean Carroll. Trump is also facing multiple criminal cases, including federal election interference, mishandling classified documents, election racketeering, and falsifying business records.
The civil fraud trial, which took place in Justice Engoron's courtroom, was marked by outbursts from Trump, fines for violating gag orders, and questions surrounding possible perjury by Trump's chief financial officer, Allen Weisselberg. Despite Trump's attempts to discredit the judge's credibility, Engoron deemed Trump an unreliable witness based on his evasive answers and irrelevant speeches during the trial.
Judge Arthur Engoron sitting on the bench inside New York Supreme Court
The judge's ruling also singled out Trump's sons, Eric and Donald Jr., who were barred from doing business in New York State for two years. Engoron found Eric Trump's credibility severely damaged by his repeated denial of knowledge about his father's financial statements, only to concede later when presented with documentary evidence. Donald Trump Jr. faced similar credibility issues when he couldn't recall important details during his testimony.
Engoron further emphasized the discrepancy between Trump's property valuations and those of appraisers and tax assessors. Trump's valuations were often significantly higher, leading the judge to describe them as a "fantasy world" and the properties' overvaluation as fraud. Trump's business practices, such as overvaluing rent-controlled apartments and inflating the size of his own apartment at Trump Tower, were deemed fraudulent by the judge.
Despite Trump's ongoing legal battles, he remains a prominent figure and has even announced his intention to campaign for the White House once again. However, with mounting financial penalties and a tarnished reputation, the road ahead may prove challenging for the former president.
A security guard standing on the perimeter of former President Donald Trump
