April 13, 2024

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Donald Trump fined nearly $355 million for fraud

Donald Trump fined nearly $355 million for fraud

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A judge banned the former president and Republican presidential candidate from conducting business in New York for three years.

Donald Trump was fined nearly $355 million in New York on Friday, February 16, for a series of financial frauds within his real estate empire, the Trump Organization. The unprecedented decision is a blow to the legacy of the former US president, who is aiming for re-election in November. It also carries with it a three-year ban on the industrialist and Republican tribunal from running any business in New York State.

In a 92-page court document, New York State Supreme Court Justice Arthur Engoren removed Donald Trump from the administration. “Any business or legal entity in New York for a period of three years” and ordered him to pay $354.86 million.

The state's attorney general, Letitia James, filed a complaint against him in October 2022 and took his two-year-old sons, Donald Jr. and Eric Trump, along with their family members, to a civil trial for fraud from October to January. Trump father and son appeared in the heated investigation, often in an extremely tense political environment, and were accused of grossly inflating the value of assets in their family empire, the Trump Organization.

Letitia James is seeking $370 million in damages for causing the skyrockets, luxury hotels and golf courses around the world to skyrocket in value in the 2010s.

“Recurring Scams”

Some properties, such as Trump Tower on 5th Avenue in Manhattan, symbolize the success of the businessman who entered politics as a successful builder. Judge Engoron, who has ties to Donald Trump, ruled that the fraud was discovered before trial.

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The magistrate considered that the New York State Attorney General's Office presented “Between 2014 and 2021, there is substantial evidence that the defendants overvalued the properties.” From the group “812 million (from) 2.2 billion dollars” Depending on the years.

Because of this “Recurring Scams”A judge in late September ordered the liquidation of companies that manage these properties, such as Trump Tower, or the neo-Gothic-style skyscraper and soon-to-be 40 Wall Street Centennial, some of which Donald Trump donated. His conferences. Press after trial.

This decision was stayed on appeal. According to President Joe Biden's Democrats, the 77-year-old Republican president and the tribunal have continued to rage against justice at the hands of the administration. “A Test Worthy of a Banana Republic”.

Donald Trump's side has argued a lawsuit they say is legally void. His lawyer, Alina Haba, responded by condemning X's sentence “manifest injustice” And a “Relentless Harassment” of his client before the Republican billionaire announced he would appeal the decision.

Unlike this year's criminal trials – as set for Thursday 25 March Money to silence a porn star – Donald Trump is not facing jail time in this civil case.