2024-02-17 10:21:49
The 45th American President of the United States, Donald Trump, was fined $354.9 million after a civil fraud trial in New York. The judge also banned the businessman from running businesses in the state.
Judge Arthur Engoron ruled that Donald Trump exaggerated his wealth in financial statements provided to banks, insurers and other institutions to make deals and secure loans.
New York Attorney General Leticia James asked for $370 million and a ban on Trump and the other defendants from doing business in the state. Such a huge penalty could ruin Trump’s real estate empire, an image that helped him gain fame and win the White House in 2016.
According to estimates from the offices of the 45th president, he wrote down his wealth with as much as 3.6 billion dollars. State attorneys say he used the inflated figures to get lower insurance premiums and favorable loan terms, saving him at least $168 million in interest alone.
Donald Trump has denied that he has committed a violation and his lawyers have said that they will appeal, writes Sky News, quoted by Nova TV.