A seismic legal blow shook the Trump empire today as a New York state judge ordered former President Donald Trump and his associates to fork over a staggering $355 million in a decade-long fraud saga that’s finally met its reckoning.
Trump and Associates Found Liable
Justice Arthur F. Engoron of New York County Supreme Court ruled after months of trial testimony that Trump, his adult sons, his companies, and top executives were all complicit in a nefarious plot to artificially inflate valuations, deceiving banks and insurers along the way.
A Costly Verdict
The verdict lands Trump with the weightiest portion of the fine at $354.8 million, while his sons, Eric Trump and Donald Trump Jr., are slammed with $4 million each, and former CFO Allen Weisselberg slapped with a $1 million bill.
Trump $355M Fraud fine: Barred from Corporate Roles
Adding insult to injury, Justice Engoron bars Trump from holding senior roles in New York corporations for three years, while his businesses face a loan embargo for the same duration. Eric and Donald Jr. face a two-year ban from the state’s business sphere.
Legal Fireworks Ensue
Trump’s counsel, Alina Habba, cried foul, denouncing the ruling as “manifest injustice” and pledging an appeal to overturn what she deemed an “egregious verdict.”
Trump $355M Fraud fine: Triumph for Attorney General James
The ruling marks a resounding triumph for New York Attorney General Letitia James, who spearheaded the investigation into Trump’s financial affairs, eventually unearthing a tangled web of deceit.
Bragg’s Indictments Loom
The fallout extends beyond Trump as Manhattan DA Alvin Bragg looms with separate charges, alleging falsified records to cover hush money payments during Trump’s 2016 presidential campaign.
Trump $355M Fraud fine: Legal Wrangling and Threats
Legal battles have turned acrimonious, with Trump and his legal team adopting an adversarial stance against Justice Engoron. Trump’s public outbursts and online tirades led to fines and a gag order after threats were directed at court officials.
Legal Eagles Clash
The legal melee sees a clash of legal titans, with Trump represented by Alina Habba and Michael Madaio, while New York is backed by a formidable team from the State Attorney General’s office.
Final Verdict
The saga continues to unfold, but today’s verdict stands as a landmark moment in the legal saga of Donald Trump and his eponymous empire.
