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.
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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
Trump, AG offer contrasting takes on Cohen's testimony
After a dramatic day in court yesterday -- including surprise testimony from Donald Trump, a $10,000 gag order violation fine, and inconsistent testimony from Michael Cohen -- both New York Attorney General Letitia James and the former president took to social media to describe the state of the trial.
"Their 'star' witness lied like a dog on the stand today," Trump wrote in a Truth Social post overnight.
In a video statement posted on X, formerly Twitter, James defended her case against Trump as a multi-year effort built on thousands of documents and hundreds of witnesses, rather than simply the testimony of Cohen.
"The defendants' counsel attempted and failed to discredit our entire case," James said.
Judge Arthur Engoron yesterday denied a motion from the defense to dismiss the case following the conclusion of Cohen's testimony, saying that Trump's former lawyer was not the case's "star witness."
"There's enough evidence in this case to fill this courtroom," Engoron quipped.
AG downplays Cohen's testimony as Trump slams it
Following the adjournment of court for the day, Trump and New York Attorney General Letitia James offered contrasting views of the testimony of former Trump lawyer Michael Cohen.
Trump, speaking to reporters in a courthouse hallway, continued to claim that today was his Perry Mason moment.
"He was caught lying like no one has ever lied," he said of Cohen. "It was better than a Perry Mason moment, and that should be the end of the case."
The former president also criticized Judge Engoron for not ending the trial following Cohen's testimony, claiming he is being "railroaded."
"Any other judge, this would be the end of the case," Trump said.
James, speaking separately to reporters outside court, downplayed Cohen's importance to the case.
"It's also important to know that Michael Cohen is not the main witness," she said.
"His evidence has been corroborated by the mountains of evidence, enough evidence to fill the courtroom," the AG said, echoing a phrase Engoron used earlier.
Cohen, following testimony, calls Trump 'a defeated man'
Speaking outside after his testimony was complete and court was adjourned for the day, former Trump attorney Michael Cohen portrayed his testimony as successful and vital to holding Trump accountable, despite the contradictions in some of his answers.
Cohen maintained that he was not intimidated by Trump being in court during his testimony.
"When you looked him in the eye, Michael, what did you see?" ABC News reporter Aaron Katersky asked him.
"I saw a defeated man. I saw somebody that knows that it's the end of the Trump Organization," Cohen said.
'There's enough evidence to fill this courtroom,' says judge
Judge Arthur Engoron vehemently denied the defense's request to end the trial following former Trump attorney Michael Cohen's contradictory testimony.
"The government's key witness has fallen flat on his face," Trump attorney Clifford Robert said when requesting the case be dismissed.
"Absolutely denied. This case has evidence, credible or not, all over the place," said Engoron, who disagreed that Cohen was the case's star witness.
"There's enough evidence to fill this courtroom," Engoron said.
During Cohen's redirect examination, state attorney Colleen Faherty attempted to square Cohen's inconsistent answers by asking about his 2019 congressional testimony again. Cohen testified yesterday that he was "tasked by Trump" to inflate Trump's reported net worth, then today said his 2019 testimony, in which he said Trump never directly told him to do so, was correct.
"Donald Trump speaks like a mob boss … he tells you what he wants without specifically telling you," Cohen said in explaining the inconsistent response. "We understood what he wanted."
Attorney general arrives at courthouse
New York Attorney General Letitia James has arrived at the courthouse in lower Manhattan.
"No matter how powerful you are, no matter how much money you think you may have, no one is above the law," James said to the cameras before entering the courthouse.
"Today we will prove our case in court," she said. "Justice will prevail."
Demonstrators across the street from the courthouse cheered and applauded as the AG arrived.