What the civil fraud ruling means for Trump's finances and his empire
Donald Trump lost his civil fraud trial Friday, as a judge found him liable for violating state laws and penalized him nearly $355 million plus interest. In total, Trump is expected to have to pay more than $450 million.
The judge, Arthur Engoron, did not stop there. Along with other punishments, he barred the former president from leading any company in the state, including portions of Trump's family business, for three years. In doing so, he granted requests from the New York attorney general, who brought the case, accusing Trump of violating state laws by inflating his net worth in documents submitted to lenders.
Trump will appeal, and the case could take months, if not years, to resolve.
But Engoron's decision could inflict immediate pain, threatening the former president's finances and his influence over the Trump family business, known as the Trump Organization. The threat is not existential — the judge did not dissolve the company, and Trump is not at risk of bankruptcy — but the decision dealt him a serious financial blow, along with a symbolic swipe at his billionaire image.
The attorney general, Letitia James, said in a news conference Friday evening that «when the powerful break the law and take more than their fair share, there are fewer resources available for working people, small businesses and families.»
She added: «There cannot be different rules for different people in this country, and former presidents are no exception.»
Here's what
