Trump civil fraud case: Judge fines Trump $354 million, says frauds 'shock the conscience'
The former president was found to have defrauded lenders.
Former President Donald Trump has been fined $354.8 million plus approximately $100 million in interest in a civil fraud lawsuit that could alter the personal fortune and real estate empire that helped propel him to the White House. In the decision, Judge Arthur Engoron excoriated Trump, saying the president's credibility was "severely compromised," that the frauds "shock the conscience" and that Trump and his co-defendants showed a "complete lack of contrition and remorse" that he said "borders on pathological."
Engoron also hit Donald Trump Jr. and Eric Trump with $4 million fines and barred all three from helming New York companies for years. New York Attorney General Letitia James accused Trump and his adult sons of engaging in a decade-long scheme in which they used "numerous acts of fraud and misrepresentation" to inflate Trump's net worth in order get more favorable loan terms. The former president has denied all wrongdoing and has said he will appeal.
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Summary of penalties
Donald Trump and his adult sons were hit with millions in fines in the civil fraud trial and barred for years from being officers in New York companies. The judge said the frauds "shock the conscience."
Donald Trump: $354 million fine + approx. $100 million in interest
+ barred for 3 years from serving as officer of NY company
Donald Trump Jr.: $4 million fine
+ barred for 2 years from serving as officer of NY company
Eric Trump: $4 million fine
+ barred for 2 years from serving as officer of NY company
Former Trump Organization CFO Allen Weisselberg: $1 million fine
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company
Former Trump Organization controller Jeffrey McConney:
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company
Donald Trump Jr. takes the stand
Donald Trump Jr. has taken the stand, where he will be the first of the former president's children to testify.
Before taking the stand, Trump Jr. sat while news photographers snapped pictures.
"I should've worn makeup," he quipped.
Ivanka Trump appeals ruling requiring her to testify
One week ahead of her planned testimony, Ivanka Trump has appealed Judge Engoron's decision to require her to testify in person at the Trump Organization's fraud trial.
Ivanka Trump's lawyer Bennet Moskowitz asked an appellate court to decide whether Engoron has jurisdiction to compel her testimony and whether the trial subpoenas issued by the New York attorney general were properly served.
Ivanka Trump, who is not a defendant in the case, is currently scheduled to testify next Wednesday as the final witness in the attorney general's case before the defense presents its case.
Donald Trump Jr. arrives at courthouse
Donald Trump Jr. has arrived at the New York State Supreme Courthouse with his attorney.
Unlike his father and his brother Eric Trump -- who have visited the courtroom to watch the proceedings – Donald Trump Jr. has not stepped foot inside the courthouse for the trial until today.
A Trump Organization executive vice president, Trump Jr. is scheduled to testify in the case this afternoon.
Defense presses state's expert on his analysis
Defense lawyer Jesus Suarez spent the first hour of his cross-examination working to cast doubt on expert Michiel McCarty's analysis, which found that Trump defrauded lenders out of $168 million in interest.
"Who created the universe of documents for you to review? It was the New York attorney general, right?" Suarez said before launching into a rapid-fire succession of questions regarding which lenders McCarty had spoken to in the course of his analysis.
"Did you ever interview anyone from Deutsche Bank?" Suarez asked.
"No," McCarty said.
"Did you ever interview anyone from Ladder Capital?" Suarez asked.
"No," McCarty repeated.
"Did you ever interview anyone from Mazars," Suarez asked.
"No," McCarty responded.
"Did you ever interview anyone from the Trump Organization?" Suarez asked.
"No," McCarty said again.
House Republicans call for probe of Cohen after his testimony
House Intelligence Committee Chair Rep. Michael Turner and House GOP Conference Chair Rep. Elise Stefanik have requested that the Department of Justice investigate Michael Cohen for perjury following his testimony in the trial last month.
During his trial testimony, Cohen said that he lied to the House Permanent Select Committee on Intelligence in 2019 when he said that Donald Trump and Allen Weisselberg did not ask him to inflate Trump's personal statement.
"So, you lied under oath in February of 2019? Is that your testimony?" defense attorney Alina Habba asked in court.
"Yes," Cohen responded.
Shown his 2019 testimony in court, Cohen subsequently reversed himself and said that his 2019 testimony was truthful, explaining the contradiction by clarifying that Trump speaks like a "mob boss" and that he indirectly asked for his statement to be inflated.
In a letter to Attorney General Merrick Garland sent today, Stefanik and Turner requested that the Department of Justice open an investigation into Cohen potentially committing perjury.
"That Mr. Cohen was willing to openly and brazenly state at trial that he lied to Congress on this specific issue is startling," they wrote. "His willingness to make such a statement alone should necessitate an investigation."
Last week, Stefanik sent a separate judicial complaint to the New York State Commission on Judicial Conduct related to the conduct of the judge overseeing Trump's trial. In a statement to ABC News, a court representative said in response that the judge's actions "speak for themselves."