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A New York judge has ordered former President Donald Trump and executives at the Trump Organization to pay over $364 million in a civil fraud case, handing a win to New York Attorney General Letitia James, who sued Trump and his associates after a three-year investigation.
The Friday decision from Judge Arthur Engoron orders Trump and his flagship organization to pay the bulk of that amount: almost $355 million. Trump's two sons and co-defendants, Eric Trump and Donald Trump Jr., are each liable for $4 million. Allen Weisselberg, a former Trump Organization executive, is liable for $1 million. The total is even higher with interest — more than $450 million overall, accounts.
"Their complete lack of contrition and remorse borders on pathological. They are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin," Engoron wrote in the court filing. "Yet, defendants are incapable of admitting the error of their ways."
Trump himself called the decision a "Complete and Total SHAM" in an emailed statement and repeated his accusation that the justice system overall is politically biased against him.
James, however, declared that "justice has been served."
"This is a tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules — even former presidents," the state attorney general said in a statement.
Engoron cancelled his prior ruling from September ordering the “dissolution” of companies that control pillars of Trump’s real estate empire, saying on Friday that this was no longer necessary because he is appointing an independent monitor and compliance director to oversee Trump’s businesses.
The lawsuit brought by New York Attorney General Letitia James accused Trump and his family businesses of overstating his net worth by as much as $3.6bn a year over a decade to fool bankers into giving him better loan terms.
Trump has denied wrongdoing and called the case a political vendetta by James, an elected Democrat. Trump is expected to appeal Friday’s ruling by Engoron.
The civil fraud case could deal a major blow to Trump’s real estate empire as the businessman turned politician leads the race for the Republican nomination to challenge Democratic President Joe Biden in the November 5 US election.
Engoron ruled in September that Trump had engaged in fraud and ordered his business empire be partially dissolved. The full implications of that order are still unclear, and Trump is appealing.
this post by :- todaytimes.online
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