Judge’s Decision
Last year, Donald Trump boasted about his wealth in court, but a recent ruling in his civil fraud trial has hit him hard. Judge Arthur Engoron ordered the former president to pay $355 million for lying about his finances to secure loans and make deals, calling the fraud “shocking.”
Financial Penalty
The staggering penalty adds to Trump’s legal troubles and could lead to a cash crunch as he faces mounting debts and legal battles. In addition to the fine, he faces interest charges, with the total penalty estimated at $453.5 million.
Appeal and Consequences
Trump has vowed to appeal the ruling, calling it “election interference.” However, the decision could impact his financial future and campaign efforts as he seeks to reclaim the White House. The ruling also imposes restrictions on Trump’s business activities and bans his sons from serving as company directors.
Witness Testimonies
The trial featured testimonies from key figures, including Trump, who claimed his wealth was in the billions. Judge Engoron, however, criticized Trump’s evasive responses and deemed his credibility compromised. In contrast, Michael Cohen’s testimony was considered credible, despite Trump’s dismissal of him as a “proven liar.”