Former President Donald Trump and executives at the Trump Organization have been ordered by a New York judge to pay over $364 million in a civil fraud case, following a lawsuit by New York Attorney General Letitia James.
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Trump and his flagship organization are required to pay almost $355 million, with his sons, Eric Trump and Donald Trump Jr., each liable for $4 million, and former executive Allen Weisselberg liable for $1 million.
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The total amount, including interest, exceeds $450 million, according to the attorney general's office.
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The judge criticized the defendants' lack of contrition, stating that they inflated asset values for financial gain.
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Trump denounced the decision as a "Complete and Total SHAM," while James hailed it as a victory for justice.
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The ruling imposes restrictions on Trump and his co-defendants' ability to do business in New York, including limitations on serving as officers or directors of businesses and applying for loans.
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The lawsuit accused Trump and his sons of knowingly submitting inflated financial statements from 2011 to 2021 to bolster Trump's net worth for business, insurance, and banking deals.
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Testimonies from witnesses, including former Trump allies Michael Cohen and Weisselberg, implicated Trump and his associates in the fraudulent valuation process.
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The decision comes amid Trump's ongoing legal battles, including a criminal trial related to hush money payments during the 2016 election and numerous other state and federal charges.
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Trump is expected to appeal the ruling, prolonging the legal proceedings and delaying any financial repercussions.