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Trump fined $355 mn, banned from NY business in fraud trial

Trump fined $355 mn, banned from NY business in fraud trial

13 Sept 10:42 Key points summarised by AI
  • A New York judge ordered Donald Trump to pay $355 million for fraud and banned him from running companies in the state for three years.
  • Trump was found liable for unlawfully inflating his wealth and manipulating property values to secure favorable bank loans and insurance terms.
  • The ruling, which also fined his sons Eric and Donald Trump Jr. over $4 million each, delivers a significant blow to Trump's business empire, with his defense vowing to appeal.
  • Judge Arthur Engoron justified the penalties by citing Trump's "complete lack of contrition and remorse," amidst Trump's claims that the cases are politically motivated.
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