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.
Trump pays $15,000 in gag order fines
Former President Donald Trump's lawyers have paid $15,000 to the New York Lawyers' Fund for Client Protection on behalf of the former president for his two gag order violations.
Judge Arthur Engoron fined Trump twice for violating his limited gag order prohibiting public statements about members of his staff.
Trump was fined $10,000 this week for a statement he made to reporters in court, which Engoron determined was in reference to his clerk. He was fined $5,000 last Friday for inadvertently keeping a Truth Social post -- which prompted the initial gag order -- on his campaign website after deleting it from his Truth Social account.
"Without waiving any rights or remedies, including, without limitation, any rights to appeal said orders, on behalf of our client, we enclose herewith a check from our attorney trust account in the amount of $15,000 in accordance with the court's orders," defense lawyer Alina Hanna wrote in a filing posted today.
Trump's lawyer Chris Kise signaled in court Thursday that Trump will likely appeal the most recent $10,000 violation.