Former President Donald Trump, his sons, business partners, and company were ordered to pay more than $350 million in damages and are temporarily limited from conducted business in New York.
Trump and his executives had been accused of exaggerating financial statements that were the subject of New York Attorney General Letitia James’ fraud case. Trump and his team had placed the blame on the accountants that had collected them. However, Judge Arthur Engoron disagreed.
On Friday, the judge ordered Trump to pay $354 million in the civil fraud case plus another $100 million in interest. He was also forbidden from doing any business in the state for three years. However, his family business was not totally shut down.
Although Trump says that he plans to to appeal, he has to pay the full amount in a deposit within 30 days or risk losing his money or property as the appeal takes place.
Trump has called the ruling “an illegal, unAmerican judgement against me, my family, and my tremendous business.” He also stated that the judge was “crooked” and the attorney general was “corrupt.”
The judge’s ruling will not only put a dent in Trump’s finances, but also, his reputation as he created his brand on being an awesome businessman during his first run for president.
