Trump Ordered to Pay $355 Million in Fines Over Civil Fraud Case

Written by Henrik Rothen

Feb.16 - 2024 9:36 PM CET

Trump Ordered to Pay $355 Million in Fines Over Civil Fraud Case.

Trending Now

Donald Trump is ordered to pay fines totaling nearly $355 million in a civil fraud lawsuit, as determined by a New York judge on Friday. This ruling also includes a three-year prohibition preventing Trump from serving in an executive capacity for any New York state-based company.

The case, initiated by New York City Attorney Letitia James, centered on allegations that Trump, along with his family business entities, inflated the net worth of their company by approximately $3.6 billion annually.

This inflation, according to James, was a strategy to deceive bankers and secure more favorable loan terms.

Trump has consistently denied these allegations, dismissing the lawsuit as a politically motivated attack by James, a member of the Democratic Party. Given the political implications and Trump's vehement denial of wrongdoing, an appeal against this decision by the New York judge is anticipated.

This is not Trump's first encounter with legal challenges related to fraud. In September, the same judge found Trump guilty of fraud, leading to an order for the partial dismantling of his business conglomerate. The specifics of that verdict remain partially undisclosed, and Trump is contesting that decision as well.

Beyond this civil litigation, Trump faces additional legal battles on multiple fronts, including four criminal cases. Among these is a New York case where he is accused of falsifying documents to hide a payment made to silence porn actress Stormy Daniels, regarding an alleged affair. Trump allegedly facilitated a $130,000 payment through his then-lawyer Michael Cohen.

Other criminal inquiries involve Trump's management of classified documents and actions aimed at disputing the outcome of the 2020 presidential election. These ongoing legal challenges mark a tumultuous chapter for the former president as he navigates both civil and criminal courtrooms.