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New York Court Orders Trump to Pay Over $355 Million for Lying About Value of Businesses

HeadlineFeb 19, 2024

A New York Supreme Court justice has ordered Donald Trump to pay nearly $355 million in penalties, plus about $100 million in interest, for illegally inflating the value of his assets in order to secure more favorable loans and insurance for his New York real estate empire. Trump is also barred from running any business in New York for three years. Trump’s two eldest sons face a two-year ban and were each ordered to pay $4 million.

Judge Arthur Engoron also said Judge Barbara Jones will continue to act as independent monitor of Trump’s businesses, and ordered an additional independent director of compliance at the Trump Organization. In his ruling, Justice Engoron criticized Trump and his sons, saying, “Their complete lack of contrition and remorse borders on pathological.” The ruling came in a case brought by New York Attorney General Leticia James, who spoke to reporters after the ruling.

Attorney General Letitia James: “Donald Trump may have offered 'The Art of the Deal,' but he perfected 'the art of the steal.' This long-running fraud was intentional, egregious, illegal, and he did all of this with the help of the other defendants, his two adult sons and senior executives at the Trump Organization.”

Donald Trump plans to appeal the ruling, which he described as a “complete and total sham.”

In other Trump news, the former president has reportedly expressed support in private for a federal 16-week abortion ban, with exceptions for rape or incest or if the pregnant person is at risk of death.

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