Updated February 17th, 2024 at 09:32 IST

Legal Blow: Trump Hit With $364 Million Penalty in New York Trial

In response to the ruling, Trump denounced New York Attorney General Letitia James as "totally corrupt".

Reported by: Sagar Kar
Former US President Donald Trump | Image:Facebook/File
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In a significant blow to former President Donald Trump and his business empire, New York Judge Arthur Engoron has ordered Trump, his companies, and other defendants to pay nearly $364 million in total in the civil fraud trial concerning his business practices. The ruling comes amidst mounting legal challenges for Trump, who was recently ordered to pay $83.3 million in a separate trial.

According to a report from Axios, the penalty breakdown includes a staggering $354,868,768 for Trump and his various organizations, along with substantial amounts for his sons, Eric Trump and Donald Trump Jr., and longtime associate Allen Weisselberg. Additionally, Trump associates Weisselberg and Jeffrey McConney have been permanently barred from controlling the finances of any business operating in New York.

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What else?

Well, Eric Trump and Donald Trump Jr. face bans from serving as officers or directors of New York corporations for two years, adding to the legal restrictions imposed on the Trump family.

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Judge Engoron's ruling extends beyond financial penalties, with the appointment of a court-appointed independent monitor to oversee the Trump Organization's financial activity for at least three years. Furthermore, an independent director of compliance will be appointed within the Trump Organization to ensure adherence to financial and accounting standards, with the organization responsible for compensating this position.

How has Trump responded? 

In response to the ruling, Trump denounced New York Attorney General Letitia James as "totally corrupt," accusing her of leading a political vendetta against him. He likened the legal proceedings to tactics employed by authoritarian regimes, claiming it was orchestrated by the Department of Justice under President Biden.

"We'll appeal, we'll be successful, I think, because frankly, if we're not successful, New York State is gone," Trump declared defiantly, speaking to reporters from his Mar-a-Lago estate.

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The ruling marks a significant development in the ongoing legal battles surrounding Trump's business dealings and underscores the heightened scrutiny faced by the former president as he navigates legal challenges and political ambitions.

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Published February 17th, 2024 at 09:32 IST