Donald Trump’s sons Eric and Donald Jr. were also banned from doing business for two years.
Kai Jääskeläinen
Former President of the United States Donald Trump has been ordered to pay $354.9 million in compensation for exaggerating the assets of his company, the Trump Organization.
At the end of the fraud trial, the judge Arthur Engoron At the same time, Trump was banned from doing business in the state of New York for three years. This means that Trump cannot be in charge of the company for three years.
A two-year business ban was also imposed on Trump’s sons To Eric and For Donald Jr.
However, Engoron canceled the order he made in September, according to which Trump should have dissolved the companies that were the basis of his real estate business. According to the judge, the organization does not need to be dissolved, as he will appoint an independent observer and an internal auditor to monitor Trump’s transactions.
The Attorney General of the State of New York, who acted as the prosecutor of Letitia James according to Trump had exaggerated the value of the Trump Organization’s assets in order to get better terms for loans and insurance from banks and insurance companies. In the indictment, Trump is said to have exaggerated his net worth by up to 3.6 billion dollars a year for more than a decade.
The fraud trial was a civil lawsuit, and Trump was not threatened with a prison sentence because of this. Recently, however, criminal charges have also been brought against Trump, who is seeking the Republican presidential nomination.
Trump denies having committed a crime and calls the civil suit filed by James, a member of the Democratic Party, political revenge.
Trump is expected to appeal Engoroni’s decision.
Trump’s lawyer Alina Habba says in the message service X, that the verdict is †in its simplicity a manifestation of injustice as well as the culmination of a witch hunt that lasted for years and was fueled by political goals†.
Sources: Reuters, AFP, STT, AP