JUST IN: More Woes For Ex-US President Donald Trump As Court Orders Him To Pay $365 Million Fine In Fraud Trial For Lying About His Wealth

JUST IN: More Woes For Ex-US President Donald Trump As Court Orders Him To Pay $365 Million Fine In Fraud Trial For Lying About His Wealth....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie John

A New York judge has imposed a staggering $365 million fine on Former US President Donald Trump, in a civil fraud trial for deceptive practices related to his financial statements. READ FULL ARTICLE HERE

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The ruling by Judge Arthur Engoron follows a trial initiated by New York Attorney General Letitia James, accusing Trump and his company of misleading banks, insurers, and others by inflating his assets on financial documents over many years.

During the trial, evidence revealed a pattern of Trump overstating his wealth to secure favorable terms on loans from institutions like Deutsche Bank AG. Judge Engoron condemned the defendants’ lack of remorse, stating that their actions were aimed at maximizing profits through deceitful means.

Trump, along with his company and top executives, including his sons, Eric and Donald Jr., were found liable for the scheme. Former Trump Organization CFO Allen Weisselberg and ex-comptroller Jeffrey McConney were also held accountable.

The hefty fine, close to the amount sought by the attorney general, includes damages for the financial gains Trump accrued through lower interest rates obtained through deception, as well as profits from property deals facilitated by false asset valuations.

Despite the verdict, Trump is expected to appeal, potentially prolonging the legal battle beyond the upcoming election cycle. However, he will likely be required to provide a substantial portion of the damages upfront.

Reacting to the ruling, Trump’s legal team denounced it as a politically motivated attack, echoing previous claims of a witch hunt orchestrated to undermine him. The Trump campaign swiftly used the verdict as a fundraising opportunity, citing it as evidence of “undeniable election interference.”

This significant financial penalty comes shortly after another legal setback for Trump, where he was ordered to pay $83.3 million in damages for defaming writer E. Jean Carroll. With mounting legal fees and dwindling resources, Trump’s legal battles pose a significant financial challenge as he navigates the aftermath of his presidency.

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Source: Bushradiogist

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