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

The former president was found to have defrauded lenders.

ByPeter Charalambous and Aaron Katersky
Last Updated: December 10, 2023, 5:05 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, 2024, 4:07 PM EST

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

Dec 10, 2023, 5:05 PM EST

Trial to resume on Tuesday

Donald Trump's civil fraud trial will resume on Tuesday, following the announcement from the former president that he was canceling his plans to testify Monday in his own defense.

"Donald Trump already testified in our financial fraud case against him," New York Attorney General Letitia James said in a statement Sunday afternoon following Trump's announcement. "Whether or not Trump testifies again tomorrow, we have already proven that he committed years of financial fraud and unjustly enriched himself and his family. No matter how much he tries to distract from reality, the facts don't lie."

The trial will continue Tuesday with the cross-examination of the defense's accounting expert Eli Bartov. Once Bartov concludes his testimony, Trump's defense case is expected to rest.

Lawyers for the New York attorney general plan to present a brief rebuttal case, which might conclude as early as Tuesday.

Closing arguments in the case are scheduled for Jan. 11, and a written decision in the case may come in late January.

Dec 10, 2023, 3:45 PM EST

Trump cancels plans to testify Monday

Donald Trump has canceled his plans to testify in his own defense in his civil fraud trial, the former president said in a statement Sunday.

"I will not be testifying on Monday. MAGA!" Trump wrote on social media.

Trump cited the testimony of his expert witnesses, the use of what he called his "ironclad disclaimer clause," and alleged bias by the judge overseeing the case as reasons he no longer planned to testify.

"I HAVE ALREADY TESTIFIED TO EVERYTHING & HAVE NOTHING MORE TO SAY OTHER THAN THAT THIS IS A COMPLETE & TOTAL ELECTION INTERFERENCE," he wrote.

The former president was due to return to the courtroom Monday after testifying last month in the state's case.

Dec 08, 2023, 1:52 PM EST

Accounting expert to resume after Trump testifies Monday

New York University accounting professor Eli Bartov will have to return to court on Tuesday to conclude his testimony, after his direct examination ran longer than expected.

After Bartov's direct examination concluded, state attorney Louis Solomon began his cross-examination -- but the parties agreed to adjourn for the day and resume the cross-examination next week.

Donald Trump is scheduled to be the only witness on Monday.

Once Bartov concludes his testimony, New York Attorney General Letitia James plans to present a brief rebuttal case.

Dec 08, 2023, 1:12 PM EST

Defense's accounting expert was paid $877K

The defense's accounting expert, Eli Bartov, was paid approximately $877,500 for his expert analysis, the New York University professor testified.

Bartov said he was paid an hourly rate of $1,350 for 650 hours of work, receiving payments from the Trump Organization and Trump's Save America PAC.

The state's lone expert witness, Michiel McCarty, was paid roughly $350,000 for his testimony.

Bartov's testimony about his compensation followed a tense exchange in which defense attorney Alina Habba accused Judge Engoron of "wasting time and money" by ignoring expert testimony.

"Why are we wasting our time if nobody is considering the words coming out of our experts' mouths?" Habba said.

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