The former president was found to have defrauded lenders.
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.
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
The defense's cross-examination of longtime Trump accountant Donald Bender has resumed.
New York Attorney General Letitia James is attending court today, but Eric Trump of the Trump Organization is absent from the gallery.
When Donald Trump attended over the first three days of the trial, the gallery was packed -- but without him in attendance, it's now roughly half full.
The trial resumes this morning for its first full day of action without the presence of former President Trump, who returned to Florida yesterday after attending the trial's first three days.
With 26 witnesses yet to testify for the state, today is likely to provide an indication of the trial's duration, which Judge Engoron scheduled to take three months.
Longtime Trump accountant Donald Bender of Mazars USA is back on the stand for more cross-examination from defense lawyer Jesus Suarez, who has been walking Bender though years of financial statements in an attempt to paint him as asleep of the wheel while handling Trump's accounting.
If Bender gets off the stand today, the state will next call longtime Trump Organization comptroller Jeffrey McConney, who is a defendant in the case itself.
Attorneys for the defense team declined to cross-examine Cameron Harris after the former Trump accountant completed his testimony. However they reserved the right to call him back to the stand later.
Instead, they spent the last hour of court Wednesday continuing their cross-examination of former Mazars USA accountant Donald Bender, who handled Trump's account prior to Harris.
After the defense highlighted Bender's inconsistent statements about Mazars' use of specialists to evaluate assets, Bender seemed to struggle to articulate how Mazars provided accounting expertise.
Defense attorney Jesus Suarez told Judge Engoron that he plans to continue his cross-examination of Bender through Thursday afternoon, though the defense promised to "streamline" their questions after the judge complained about the timing.
Court was then adjourned for the day.
Cameron Harris, an accountant from the firm Whitley Penn, has taken the stand as the trial's second witness following hours of testimony from former Trump accountant Donald Bender of Mazars USA, whose cross-examination will continue later.
Whitley Penn succeeded Mazars as Trump's accounting firm.
Harris testified that Trump's son Eric Trump "set the tone at the top" of the Trump Organization.
Like Bender, Harris testified that the Trumps had the ultimate responsibility for their financial statements.
"Who's responsible for the statement of financial condition?" asked state attorney Kevin Wallace as Eric Trump sat in the courtroom.
"The client's responsible for that," Harris replied.
The proceedings appear to have taken a more workmanlike tone since Trump left the courtroom to return to Florida. The defense has not logged a single objection after earlier objecting so often that it drew the judge's ire.
