Donald Trump Hit With $355 Million Fine, Banned From New York Business

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Former President Donald Trump has been dealt a significant blow in a civil business fraud trial in New York. Judge Arthur Engoron has ruled that Trump must pay approximately $355 million in fines for his involvement in manipulating his net worth. This ruling comes as a major setback for the former president.

Financial Penalty and Business Ban

In addition to the substantial financial penalty, Judge Engoron has also barred Trump from holding top positions at any New York company for a period of 3 years. This prohibition extends to the Trump Organization, further limiting Trump’s business activities in the state.

Prosecutors had sought a $370 million fine, alleging that Trump, along with his sons Donald Trump Jr. and Eric Trump, engaged in the falsification of financial statements and business records, constituting repeated and persistent fraud.

Legal Challenges and Potential Appeal

It is anticipated that Trump will appeal the imposed fine, which could potentially increase to $400 million with the addition of interest. This legal battle is likely to continue as Trump seeks to challenge the ruling and mitigate the financial repercussions.

Previous Legal Setbacks

This recent ruling follows a separate legal decision last month, in which a New York jury ordered Trump to pay $83.3 million in damages to E. Jean Carroll for defamation. The former president had denied her sexual assault allegation, leading to the legal judgment against him.

Given Trump’s outspoken nature, it is expected that he will express his discontent with the ruling through social media channels, continuing the public discourse surrounding the legal proceedings.