Donald Trump Ordered to Pay $355M, Forbidden From Doing Business in NY for 3 Years: 'Total Sham'

Former United States President and current presidential hopeful Donald Trump has been compelled by a legal ruling to pay $355 million to the state of New York. This penalty stems from allegations of Trump manipulating his net worth to deceive lenders, a fraudulent act with significant consequences.

The decision, made by Justice Arthur Engoron on Friday, February 16, not only imposes a hefty financial burden but also includes a three-year prohibition on Trump holding positions as an officer or director within any New York corporation, as reported by Radar Online. Furthermore, Trump is now restricted from seeking loans from any financial institution registered in the state for the same duration.

In a further blow to the Trump family, the ex-president's adult sons, Donald Jr. and Eric, have been prohibited from assuming roles as officers or directors within the company. Additionally, they have each been mandated to pay fines totaling $4 million.

Justice Engoron reversed his previous decision from September of last year, which had called for the dissolution of the companies managing key aspects of Trump's real estate empire. Instead, he has appointed an independent monitor and compliance director to supervise the 77-year-old Republican's business affairs. This new development, reported by WION, was indicative of a significant shift in the management and oversight of Trump's business operations.

Trump's business history has been marred by findings of fraud, conspiracy, and the falsification of financial statements and business records, spanning decades of operations within the state. Engoton wrote, "In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements." He further added, "When confronted at trial with the statements, defendants’ fact, and expert witnesses simply denied reality, and defendants failed to accept responsibility or to impose internal controls to prevent future recurrences."

Adding to the discourse, Trump's attorney, Alina Habba, vehemently denounced Justice Engoron's ruling as a 'manifest injustice — plain and simple.' She said, "It is the culmination of a multi-year, politically fueled witch hunt that was designed to 'take down Donald Trump' before Letitia James ever stepped foot into the Attorney General's office." Habba indicated that the former President intends to challenge the ruling through an appeal.

Additionally, in a swift response following the verdict, the ex-president expressed his indignation on Truth Social. Displeased with the outcome, Trump launched a scathing attack on Justice Engoron and Attorney General Letitia James in a series of impassioned posts on the platform.

He wrote, "The Justice System in New York State, and America as a whole, is under assault by partisan, deluded, biased Judges and Prosecutors. Racist, Corrupt A.G. Tish James has been obsessed with 'Getting Trump' for years, and used Crooked New York State Judge Engoron to get an illegal, unAmerican judgment against me, my family, and my tremendous business."

"I helped New York City during its worst of times, and now, while it is overrun with Violent Biden Migrant Crime, the Radicals are doing all they can to kick me out," Trump added. He continued to criticize the ruling as a "Complete and Total SHAM," and he claimed, "There were No Victims, No Damages, No Complaints."