New York Judge Slaps Donald Trump with $350M Fine, Barring Him from NY Business for 3 Years

New York, Feb 17 (IANS) Former President Donald Trump received a major blow as a local judge fined him over $350 million and banned him from doing business in New York State for three years. State Supreme Court Justice Arthur Engoron imposed the penalties after finding Trump guilty of fraud in a civil case brought by the state’s Attorney General, Letitia James, a Democrat. The fine, including interest, amounts to $450 million and will continue to increase until paid.

Engoron criticized Trump and his associate’s conduct in the case, calling it “pathological” due to their lack of remorse. Trump retaliated on social media, claiming the ruling was “an illegal, unAmerican judgment.” However, James hailed the verdict as a “tremendous victory” for the state and the nation, emphasizing the need for everyone to play by the same rules, even former presidents.

In addition to the hefty fine, a New York Supreme Court ordered Trump’s trial in a criminal fraud case to start on March 25, right amid the presidential campaign. He is accused of falsifying business records to cover up hush money paid to a porn star. With his assets tied up in real estate, the massive fine could deplete Trump’s available cash as he campaigns for the Republican Party’s presidential nomination.

Although Forbes estimated Trump’s wealth to be $2.6 billion last year, he may still have significant campaign funds from supporters. His campaign raised $118.3 million in the previous year, with $33 million remaining after expenses. The blow to his business activities in the state where his real estate empire originated strikes at the core of his claims to being super-rich.

The case revolved around the extent of Trump’s wealth, which the prosecution claimed was exaggerated when he applied for business loans. James filed the case despite the banks that lent him money not complaining, based on what the prosecution said were fraudulent documents. The judge also extended the term of an independent monitor appointed to oversee the Trump Organisation and fined Trump’s two adult sons $4 million each, barring them from running businesses for two years. This development adds another layer of humiliation for the former president as he faces legal challenges and financial setbacks.

In conclusion, the judge’s decision to penalize Trump with a multi-million dollar fine and to ban him from conducting business in New York for three years has dealt a significant blow to the former president’s financial and political prospects as he navigates through the presidential campaign.