Former President Donald Trump and his associates were found liable by a New York court on Friday for committing decades of business fraud through his real estate empire, the Trump Organization, ordering them to pay roughly $364 million in penalties.
Justice Arthur Engoron’s ruling orders Trump himself and his companies to pay millions of dollars to the state, while his adult children and other associates under the Trump Organization were ordered to pay additional fees in the millions. Trump was also barred from doing business in the state for three years and told that he cannot borrow money from a New York bank.
The decision comes after a monthslong civil trial over a complaint from New York Attorney General Letitia James (D) alleging that Trump, his two adult sons, and two Trump Organization executives committed business fraud through years of false statements aimed at securing more favorable loans and other financial terms. James, an elected Democrat, accused them of doing this in part by exaggerating the value of some of Trump’s most prized assets, such as the Trump Tower in Manhattan.
Ahead of the trial, New York Supreme Court Justice Arthur Engoron found the defendants liable for most of James’s claims, and the trial was largely intended to assess penalties. In addition to asking that the court shut down Trump’s business operations in New York, James sought $370 million in damages.
The trial featured testimony from more than 40 witnesses, including from Trump himself. Closing arguments were held on Jan. 11, and the judge decided the case because juries are not allowed on this type of lawsuit and neither James’ office nor Trump’s lawyers asked for one.
The former president made several appearances in New York for the trial, including to testify as a witness in November during what became a blockbuster day in court. In an entirely unconventional witness testimony, Donald Trump blasted James and Engoron under oath from the stand and condemned the trial as “very unfair” while being asked direct questions about the case.
Engoron’s decision comes just weeks after Trump was ordered by a federal court jury in Manhattan to pay $83.3 million in damages to advice columnist E. Jean Carroll in a second civil defamation trial related to his denial of her sexual assault claim that dated back to the mid-1990s.
Trump has said he would appeal any judgement made against him in the business fraud trial and has likewise vowed to appeal a jury’s order to pay Carroll $5.5 million from the first defamation trial in May, as well as the more recent defamation verdict.
If both defamation verdicts and Engoron’s order are upheld, Trump could stand to lose up to $450 million from the three cases combined.
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Trump was last in New York on Thursday for a hearing over one of four criminal indictments he faces. In Manhattan, he faces a 34-count indictment over alleged hush money payments made to a porn star to silence her claims of an alleged affair, which the Manhattan District Attorney Alvin Bragg said amounted to an effort to interfere in the 2016 election. A judge ordered the trial in that case to commence on March 25.
This is a developing story and will be updated.
