Connect with us


President Trump Is Ordered To Pay $454 Million For a Fraud Case

Avatar of AlishbaW



President Trump Is Ordered To Pay $454 Million For a Fraud Case

(CTN News) – An NY judge formally ordered Donald Trump to pay $454.2 million after finding him accountable for manipulating his net worth in a civil fraud case brought by New York State’s attorney general.

In addition to the $354.9 million penalty Judge Arthur Engoron of the Manhattan state court ordered on Feb. 16, the payment also includes interest.

The Trump Organization’s former chief financial officer, Allen Weisselberg, was also ordered to pay nearly $1.1 million, as were adult sons Donald Trump Jr. and Eric Trump.

There were $464.6 million in payouts on Thursday. Daily interest on the Trump loan will amount to over $114,000, most of which will go to Donald alone. Judgment was rendered on Friday, it was announced.

Trump’s net worth was inflated and he obtained better loan terms and insurance coverage through overstating the value of his properties, according to Attorney General Letitia James’ complaint.

Engoron also prohibited Trump from holding senior positions in New York companies or from taking out loans from New York banks during the period of three years. The two adult sons of the deceased were barred from serving as leaders for two years.

According to the judge, the defendants’ complete lack of contrition and remorse bordered on pathological.

In the business empire that Trump has built during his adulthood, Engoron’s decision poses a threat.

Former Republican president George W. Bush is also facing four criminal prosecutions while fighting to gain back the presidency from Democrat Joe Biden. Each of the charges has been pleaded not guilty to by him.

Donald Trump has accused James and Engoron of corruption, both Democrats, as part of a witch hunt by his political opponents.

He can appeal his penalty to the Appellate Division, a midlevel appeals court, but he needs to raise the money owed or obtain a bond first.

Defendants’ lawyer Clifford Robert had asked the court to delay enforcing the judgments for 30 days to allow “an orderly post-judgment process, especially given the size of the judgment.”

On Thursday, Engoron told Robert, “You have failed to explain any basis for a stay. I have every confidence the Appellate Division will protect your appeal rights.”


Thai PM Addresses Key Issues in Bangkok: Taxi Fares, Illegal Tour Guides, and PM 2.5 Pollution

Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies