Former US President Donald Trump fined US$355 million for fraud.
At the end of a highly publicized trial which lasted nearly two and a half months, Judge Arthur Engoron sentenced former President Donald Trump to pay a fine of 355 million US dollars on Friday February 16, 2024. , for conspiracy to manipulate the accounts of his real estate empire.
In the process, the judge imposed a ban on the billionaire from holding a position in a New York company for a period of three years. The same sanction also applies for two years to the former president’s two sons, Donald Trump Jr. and Eric Trump. The latter is the CEO of the Trump Organization.
The judgment therefore compromises the ability of a member of the Trump family to run the company in the short term.
On Wednesday, on his social network, the ex-president had anticipated this verdict by protesting in advance, in capital letters, at a “dishonest judgment” which will mark a “dark and sad day for the justice system of the New York State”.
This conviction could indeed have seismic consequences on the empire of Donald Trump, indicated a few weeks ago Elliot Williams, former federal prosecutor and analyst on the airwaves of the CNN network, evoking the loss for the organization of all significant ability to do business in New York, a punishment far more damaging than a prison sentence, he said.
New York justice has launched civil proceedings against the ex-president and leader in the current race for the Republican nomination, accusing him of having for years inflated the value of the assets of his real estate empire in a manner to obtain more generous loans or lower rates from banks and insurance companies. The trial which began last October also targets two former leaders of the Trump Organization, Allen Weisselberg and Jeff McConney.
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