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

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.


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


Cohen says he's 'looking forward' to seeing Trump

Exiting his New York City apartment this morning, Michael Cohen told reporters he was "looking forward" to seeing Trump in court.

"It's been five years since we've been in the same room," Cohen said.

Cohen preemptively defended the credibility of his testimony and reiterated that he previously perjured himself "concert with and for the benefit of Donald J. Trump."

"My credibility should not be in question," Cohen said.

-ABC News' Eric Avram contributed to this report.


Trump arrives in court

Donald Trump has arrived in court for the anticipated testimony of his former lawyer Michael Cohen.

New York Attorney General Letitia James is also attending the trial this morning.

James took her usual seat at the front of the courtroom's gallery, directly behind her team of lawyers at the counsel table.

The courtroom itself is nearly at capacity, with attendance matching the number of observers during the trial's opening statements.


Cohen expected to testify after Mazars attorney

Donald Trump's former lawyer and self-described "fixer" is scheduled as the second witness to testify today at the trial.

Bill Kelly, a lawyer at Trump's former accounting firm, Mazars USA, is set to begin his testimony this morning.

Mazars issued Trump's statements of financial condition before severing its business relationship with the Trump Organization last year and withdrawing the statements issued between 2011 and 2020.

"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," Kelly wrote in a 2022 letter to the Trump Organization.



Trump's lawyers appeal sanctions imposed before trial

Trump defense lawyers Chris Kise, Clifford Robert, and Michael Farina have appealed Judge Arthur Engoron's decision to sanction and fine them for making frivolous arguments during pretrial arguments.

On the eve of trial, Engoron sanctioned the attorneys for their "continued reliance on bogus arguments," and ordered each to pay a $7,500 fine.

"Sanctions are the only way to impress upon defendants' attorneys the consequences of engaging in repetitive, frivolous motion practice after this Court," Engoron wrote in his decision at the time.

In their filing, the lawyers have asked an appeals court to determine if Engoron "committed errors of law and/or fact, abused its discretion, and/or acted in excess of its jurisdiction."


Judge doesn't stop trial, but pauses dissolving of Trump Org

A New York appellate judge declined to pause Donald Trump's ongoing civil fraud trial, after attorneys for Trump sought a stay of the trial while they appeal Judge Arthur Engoron's summary judgment ruling last week that decided the core of the case.

Judge Peter Moulton issued the ruling minutes after hearing oral arguments from both sides. While he did not pause the trial, he did stop the immediate cancelation of Trump's business certificates that Engoron had ordered last week.

"This is everything owned or controlled by the defendant. Once you dissolve you dissolve," defense attorney Christopher Kise argued in an afternoon hearing convened at the Appellate Division's First Department. "It's chaos. It's chaos right now."

The New York attorney general's office balked at halting the trial.

"There's just absolutely no basis for an interim stay of trial that's already been going on for a week," said Deputy Solicitor General Judy Vale. "It has been an enormous endeavor to get this off the ground."

Trump's defense insisted a pause was warranted given the magnitude of the potential consequences for Trump's business.

"We're not seeking delay. We're seeking a fair trial," Kise said before the judge ruled that the trial would continue.

The trial is scheduled to resume Tuesday morning.