Trump and real estate firm hit with $365 million fine in fraud suit, barred from running biz in New York for 3 years
livemint.comPutin prefers Biden's win for 2nd term over Trump, says ‘more experienced and…’ The fine was mostly based on the $168 million Trump saved by getting lower interest rates on four loans by lying about his wealth. It also includes the $127 million profit from the Old Post Office hotel deal in Washington and $60 million from the sale of Ferry Point golf course in New York, which the state says he wouldn’t have been able to purchase without inflating the value of his assets.
The sum also includes the return of bonuses paid to employees who participated in the fraud. The threat of US debt inflated away haunts the country’s fiscal outlook The 92-page verdict by Justice Arthur Engoron in Manhattan is a threat to Trump’s real estate empire and the latest legal setback as the Republican frontrunner campaigns to return to the White House.
Christopher Kise, the lead Trump lawyer at the trial, said in a statement that the fine was “draconian and unconstitutional" and called the verdict a “tyrannical abuse of power." Donald Trump's hush-money case starts on March 25: What is it? This isn’t the first time Trump’s business interests have been stunted by the New York attorney general. In November 2016, then-President-elect Trump agreed to pay $25 million to settle the state’s civil fraud lawsuit against his Trump University, which had been accused of ripping off thousands of students.
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