A New York judge has ordered Donald Trump and his companies to pay $355 million. The judge found they engaged in a years-long scheme to dupe banks and others with financial statements that inflated his wealth. Former President Donald Trump attends the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York, Jan. 11, 2024.
“This is a venial sin, not a mortal sin,” Engoron, a Democrat, wrote in a searing 92-page opinion. “They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways.” FILE - Eric Trump, left, and Donald Trump Jr., wait for President Donald Trump to speak from the South Lawn of the White House, Aug. 27, 2020, in Washington. A New York judge ruled Friday, Feb. 16, 2024, against Donald Trump, imposing a $364 million penalty over what the judge ruled was a yearslong scheme to dupe banks and others with financial statements that inflated the former president's wealth.
In a statement, James said “justice has been served” and called the ruling “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.” James sued Trump in 2022 under a state law that authorizes her to investigate persistent fraud in business dealings.
In that earlier ruling, the judge found that, among other tricks, Trump’s financial statements had wrongly claimed his Trump Tower penthouse was nearly three times its actual size and overvalued his Mar-a-Lago estate in Palm Beach, Florida, based on the idea that the property could be developed for residential use, even though he had surrendered rights to develop it for any uses but a club.
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