must pay $354.9 million in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday, handing the former US president another legal setback in a civil case that imperils his real estate empire.
In the ruling, judge Engoron wrote that Mr Trump and the other defendants in the case “are incapable of admitting the error of their ways”.Donald Trump to face first criminal trial next month in ‘hush money’ case The lawsuit brought by New York attorney general Letitia James accused Mr Trump and his family businesses of overstating his net worth by as much $3.6 billion a year over a decade to fool bankers into giving him better loan terms.
Mr Trump and his adult sons, Don jnr and Eric, were defendants in the case. Don jnr and Eric Trump were each ordered by the judge to pay $4 million. Judge Engoron had previously ruled in September that Trump had engaged in fraud and ordered his business empire be partially dissolved.New York attorney general Letitia James, who accused Mr Trump and his family businesses of overstating his net worth. Photograph: Doug Mills/New York Times
Mr Trump has also been charged in Florida for his handling of classified documents upon leaving office and in Washington and in Georgia for his efforts to overturn his 2020 election loss.During the New York civil case, Mr Trump lashed out in the courtroom on January 11th against both the judge and Ms James while proclaiming his innocence. “You have your own agenda,” Mr Trump scolded judge Engoron, who told Mr Trump’s lawyer “control your client.