Trump Ordered to Pay $364 Million in New York Civil Fraud Suit
· 17.02.2024 · 00:00:17 ··· ··· Saturday ·· 6 (6)
Bloomberg Quicktake: Now Donald Trump and his real estate company suffered a major defeat in New York’s civil fraud suit over his inflated asset valuations, after a judge barred the former president from running any business in the state for three years and issued $364 million in penalties. #trump #politics #breakingnews
The 92-page verdict Friday by Justice Arthur Engoron in Manhattan is a threat to Trump’s real estate empire and the latest legal setback as he campaigns to return to the White House. His two eldest sons, Donald Trump Jr. and Eric Trump, were also found liable and barred from being officers of a company in New York for two years.
Engoron’s ruling is a significant victory for state Attorney General Letitia James, who filed the suit in 2022. During a trial that lasted more than three months, she claimed Trump inflated asset values on annual financial documents for more than a decade to dupe Deutsche Bank AG and other lenders into giving him better terms on hundreds of millions of dollars in loans.
Read more: https://www.bloomberg.com/news/articles/2024-02-16/trump-hit-with-364-million-fine-three-year-ban-for-ny-fraud?srnd=premium&sref=omvmmwIg
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