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.

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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

Jan 11, 2024, 10:22 AM EST

Closings underway with no mention of Trump's role

Trump attorney Chris Kise began his closing argument after Judge Engoron opened the proceedings without addressing Trump's desire to deliver part of the defense's closing statement.

Trump is seated in his usual seat at the defense counsel table, sandwiched between his attorneys.

Former President Donald Trump sits in New York State Supreme Court during his civil fraud trial, on Jan. 11, 2024, in New York.
Michael M. Santiago/Getty Images, FILE

Engoron lobbed jokes while the pool cameras prepared to enter the courtroom.

"Lining them up -- are they going to be shot or something?" the judge quipped. "I see the usual mixture of anticipation and dread out there. Trust me, this will be painless."

Jan 11, 2024, 10:12 AM EST

'I want to speak,' Trump says on way into courtroom

Speaking to reporters before entering the courtroom, Donald Trump said he still hopes to deliver a portion of the closing statement despite Judge Engoron denying that request yesterday after Trump's lawyers declined to agree with the rules Engoron set restricting Trump from making political statements and criticizing those involved in the trial.

Former President Donald Trump attends the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court in the Manhattan borough of New York City, Jan.11, 2024.
Shannon Stapleton/Reuters

"I want to speak, I want to make the summation," Trump told reporters. "At this moment, the judge is not letting me make the summation because I'll bring up things that he doesn't want to hear."

"So I hope to speak, and to help my lawyers reveal all of the defects of this case," said Trump, who called the case "very unfair" and "very bad for New York state companies."

Jan 11, 2024, 9:59 AM EST

Trump delivering closing could be risky, expert says

Attorneys Chris Kise, Alina Habba and Clifford Robert are scheduled to deliver closing arguments for the defense -- in addition to former President Trump, should Judge Arthur Engoron reverse his decision to bar Trump from participating.

Multiple legal experts who ABC News spoke with described Trump's attempt to deliver a closing statement as unprecedented and potentially perilous for the former president.

"One of the old adages is, 'He who represents himself has a fool for a client,'" trial attorney and Dartmouth College senior lecturer Bruce Fredrickson told ABC News. "The thinking behind that is you lose the objectivity and impartiality that an advocate can provide on your own behalf."

Closing arguments generally allow both parties to summarize the evidence and testimony presented during the trial -- but because Trump is not a lawyer, he would only be able to speak for himself as a named defendant in the case, according to trial attorney and ABC News contributor Chris Timmons.

"There's been a lot of damage done, and I don't know how much he can do to repair it, but he certainly can make things worse," Timmons said.

Jan 11, 2024, 9:34 AM EST

Trump, James arrive at courthouse for closing arguments

Donald Trump has arrived via motorcade at the lower Manhattan courthouse where closing arguments are scheduled to take place.

The former president pulled up shortly after New York Attorney General Letitia James arrived.

Traffic around the courthouse was briefly disrupted about half an hour before Trump's arrival by a group of protesters chanting "No dictators in the USA" as they waved signs and displayed a large banner.

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