Former President Donald Trump and the Trump Organization must pay $354 million in fines, a judge ruled Friday, issuing his long-awaited judgment in the state's civil fraud case. The decision also bars them from seeking loans from financial institutions in New York for a period of three years, and includes a three-year ban on Trump serving as an officer or director of any New York corporation.Judge Arthur Engoron handed down his judgment in a 92-page decision on Friday.
The trial, which began in October and wrapped up in January, focused on other aspects of the lawsuit related to alleged falsification of business records, issuing false financial statements, insurance fraud and conspiracy.The financial penalty James sought, known as disgorgement, is meant to claw back the amount Trump and his company benefited from the scheme.
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