A New York judge has ordered former President Donald Trump and The Trump Organization to pay over $350 million in damages in a civil business fraud trial. Additionally, Trump has been barred from serving as an officer or director of any New York corporation or legal entity for the duration of three years, including his namesake company, the Trump Organization, NBC News reports.
New York Attorney General Letitia James, whose office brought the case, emphasized the magnitude of the judgment, stating that with pre-judgment interest, the total exceeds $450 million, “which will continue to increase every single day” until the judgment is paid.
James hailed the ruling as a victory for accountability and the rule of law, asserting that it sends a message that no one, regardless of status, is above the law.
“Donald Trump is finally facing accountability for his lying, cheating, and staggering fraud. Because no matter how big, rich, or powerful you think you are, no one is above the law,” James said in a statement, calling the ruling “a tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules — even former presidents.”
The ruling also bars Trump and his company from applying for bank loans for three years. In addition, for two years, the Trump sons are banned from serving as officers or directors of any New York corporation or other legal entity. Each was fined $4 million, plus interest, for their role in the scheme.
In remarks after the ruling, Trump said, “We’ll appeal, and we’ll be successful.” Speaking to reporters at Mar-a-Lago on Friday night, Trump called the ruling “a fine of 350 million for doing a perfect job.” Trump also reiterated previous attacks on the judge and attorney general, labeling them as “crooked” and “corrupt.”
The judgment’s ramifications extend beyond financial penalties, potentially impacting Trump’s ability to conduct business and his political persona as he continues his White House bid for a third time.
This case is just one of many he is currently facing, including four separate pending criminal trials, the first of which is scheduled to begin on March 25.