Trump civil fraud case: Judge fines Trump $354M, says frauds 'shock the conscience'

The former president was found to have defrauded lenders.

Last Updated: February 16, 2024, 7:15 PM EST

Former President Donald Trump has been fined $354.8 million plus approximately $100 million in interest in a civil fraud lawsuit that could alter the personal fortune and real estate empire that helped propel him to the White House. In the decision, Judge Arthur Engoron excoriated Trump, saying the president's credibility was "severely compromised," that the frauds "shock the conscience" and that Trump and his co-defendants showed a "complete lack of contrition and remorse" that he said "borders on pathological."

Engoron also hit Donald Trump Jr. and Eric Trump with $4 million fines and barred all three from helming New York companies for years. New York Attorney General Letitia James accused Trump and his adult sons of engaging in a decade-long scheme in which they used "numerous acts of fraud and misrepresentation" to inflate Trump's net worth in order get more favorable loan terms. The former president has denied all wrongdoing and has said he will appeal.

Top headlines:

Here's how the news is developing. All times Eastern.
Feb 16, 4:07 pm

Summary of penalties

Donald Trump and his adult sons were hit with millions in fines in the civil fraud trial and barred for years from being officers in New York companies. The judge said the frauds "shock the conscience."

Donald Trump: $354 million fine + approx. $100 million in interest
+ barred for 3 years from serving as officer of NY company
Donald Trump Jr.: $4 million fine
+ barred for 2 years from serving as officer of NY company
Eric Trump: $4 million fine
+ barred for 2 years from serving as officer of NY company
Former Trump Organization CFO Allen Weisselberg: $1 million fine
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company
Former Trump Organization controller Jeffrey McConney:
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company

Oct 04, 2023, 11:10 AM EDT

Cross-examination of ex-accountant continues

Continuing his cross-examination of Mazars USA accountant Donald Bender, who formerly worked on Trump's account, Trump attorney Jesus Suarez is adopting a less aggressive approach to his questioning than the theatrical approach he took yesterday.

When Justice Engoron appeared unreceptive to one part of Suarez's questioning, Trump, sitting with his attorneys, visibility groaned.

PHOTO: Former President Donald Trump attends the third day of his civil fraud trial with his attorneys Christopher M. Kise and Alina Habba, in New York, Oct. 4, 2023.
Former President Donald Trump attends the third day of his civil fraud trial with his attorneys Christopher M. Kise and Alina Habba, in New York, Oct. 4, 2023. The civil trial comes after New York Judge Arthur Engoron already ruled that Trump and his sons Eric and Don Jr. committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years.
Angela Weiss/Pool via AFP/Getty Images

"It's easiest just to move on. Take a hint," Engoron said to Suarez about one of his attempts to discredit Bender.

Trump has been conferring with his attorney Alina Habba, taking notes, reviewing documents, and even ripping up papers while seated at the counsel table during the cross-examination of Bender.

Oct 04, 2023, 10:30 AM EDT

Trump says his net worth is 'much higher' than statements say

Former President Trump, on his way into court for Day Three of his trial, said that his financial statements under-report his wealth, despite the judge in his case already ruling that his financial records were fraudulently inflated.

"My real net worth is much higher than that, much higher than the statement," Trump told reporters.

PHOTO: Former President Donald Trump speaks to the media as he arrives at a Manhattan courthouse trial in a civil fraud case against him, his adult sons, the Trump Organization and others in New York City, Oct. 4, 2023.
Former President Donald Trump speaks to the media as he arrives at a Manhattan courthouse trial in a civil fraud case brought by state Attorney General Letitia James against him, his adult sons, the Trump Organization and others in New York City, Oct. 4, 2023.
Mike Segar/Reuters

Decrying his trial as the "beginning of communism in our country," Trump continued his attacks on New York Attorney General Letitia James, but did not comment on Judge Arthur Engoron.

"This is just a continuation of the witch hunt that started the day I came down the escalator in Trump Tower," Trump said.

Oct 04, 2023, 10:03 AM EDT

Trump back in court for Day Three

Former President Trump is back in court for Day Three of the trial, where defense counsel is expected to continue its cross examination of longtime Mazars accountant Donald Bender.

Once questioning of Bender concludes, the state says they plan to call Whitley Penn audit partner Camron Harris, who took over Trump's accounting after Mazars.

Justice Arthur Engoron may also address the narrow gag order he placed on Trump and the other defendants yesterday regarding making statements about the judge's staff, after the former president made what Engoron described as a "disparaging, untrue, and personally identifying post" involving Engoron's clerk.

Oct 03, 2023, 5:46 PM EDT

Trump, following closed proceedings, says he'll be back Wednesday

Former President Trump told reporters he plans to return to court on Wednesday as he left the courtroom following a closed proceeding Tuesday afternoon.

Judge Arthur Engoron held multiple closed proceedings during the afternoon after issuing a warning to Trump not post anything to social media about his staff.

Neither Trump nor New York Attorney General Letitia James answered questions about the nature of the closed sessions when they left the courthouse at the end of the day.

Former President Donald Trump leaves the courtroom at the end of the second day in his civil business fraud trial at New York Supreme Court, Oct. 3, 2023, in New York.
Seth Wenig/AP

Earlier, Mazars accountant Donald Bender underwent a forceful cross examination by Trump lawyer Jesus Suarez. Mixing criticism of Bender with praise of Trump -- who Suarez described as "the leader of the free world" and "possibly even the 47th president of the United States" -- Suarez attempted to paint Blender as an incompetent accountant who "messed up" and landed Trump in court.

As part of his cross examination, Suarez questioned Bender about why he failed to raise concerns about Trump inaccurately overstating the size of his triplex apartment in Manhattan's Trump Tower.

"Do you think two thirds of his [triplex] disappearing is not something you should have said to the leader of the free world?" Suarez asked during a portion of his questioning that was so theatrical that it prompted occasional laughter in the courtroom.

Related Topics