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


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Trump, departing trial, says 'this is corrupt'

Former President Trump appears to be done watching his civil fraud trial, and he had a lot to say about it on his way out of the courthouse.

Speaking to reporters, Trump renewed his attacks on Judge Engoron and accused the "whole system" of being rigged against him while referencing the criminal charges he faces in Washington, D.C., and Fulton County, Georgia.

"Our whole system is corrupt. This is corrupt. Atlanta is corrupt, and what's coming out of DC is corrupt," Trump said.

Trump again claimed that his net worth is more than is represented in his financial documents, and said that his Mar-a-Lago estate is worth "50 to 100 times more" than what Engoron determined.

Trump also resumed attacks on the judge -- who he said is "run by the Democrats" -- and New York Attorney General Letitia James, who he alleged is communicating with the Department of Justice to "keep me nice and busy."

The former president said he's been "stuck" in court when he would rather be campaigning in early primary states.

Asked by ABC News why he attended the trial despite no obligation to do so, he claimed his attendance was necessary to expose corruption to the press.

"Why attend? Because they want to point it out to the press how corrupt it is, because nobody else seems to be able to do it," Trump said.

Trump departed the courthouse and is not expected to return to court for the afternoon session.


'This is ridiculous,' judge admonishes defense counsel

Judge Engoron lost patience with Trump's defense counsel during the cross-examination of longtime Trump accountant Donald Bender.

As defense attorney Jesus Suarez repeatedly asked Bender to recall how he arrived at specific values for specific assets in specific years, Engoron interrupted to ask how much longer the cross-examination would last.

Suarez said he would do his best to finish by the end of court today.

That prompted Kevin Wallace with the state attorney general's office to shout, incredulously, "Today?" Wallace accused Suarez of being overly performative with Trump seated at the defense table.

When Engoron reminded the defense, "Mr. Bender is not on trial here," Trump attorney Chris Kise interjected, "I would very much disagree with that."

The judge implored the defense to truncate the line of questioning.

"You're not allowed to waste time," Engoron said.

"This is insane," responded Trump attorney Alina Habba "He has not answered one question."

Engoron pounded the bench, asking reporters in the room to take note. "This is ridiculous," he barked.


Trump back in courtroom

Nearly 30 minutes after court resumed following a break, Trump entered the courtroom and returned to his seat at the counsel table.

The defense's cross examination of Mazars USA accountant Donald Bender continued after a brief interruption.


Trump not in courtroom following break

Court has resumed following a break, but Trump is notably absent from the courtroom. His paperwork remains at the counsel table, and his lawyers have left his seat empty.

Eric Trump and New York Attorney General Letitia James returned to the courtroom after the break, along with the lawyers for both sides.

Former Trump accountant Donald Bender is back on the stand for his cross-examination.


Deutsche Bank courted Trump for more business, referrals

Deutsche Bank executives courted Donald Trump to attract more business and referrals, viewing the former president as an opportunity to sell services to his family members and other high-net-worth individuals, according to the testimony of former Deutsche Bank managing director Rosemary Vrablic.

"Given the circles this family travels in, we expect to be introduced to the wealthiest people on the planet," Vrablic wrote to colleagues while courting Trump in the early 2010s, according to materials entered into evidence.

Recruiting Trump stemmed from a 2007 effort in the bank to develop a broader commercial real estate financing division for their high-net-worth individuals.

"He would have fit the category of the entrepreneur and investor with a successful track record," Vrablic testified on the stand regarding Trump's profile.

After being introduced to Donald Trump Jr. through Ivanka Trump's now-husband Jared Kushner, Vrablic began pursuing Donald Trump's business.

"We are whale hunting ... Haven't seen him yet. Also maybe Dad will convert like Ivanka did," Vrablic wrote in a 2011 email to a colleague.

"It is a term used when there is a very high-net-worth individual who is a prospect," Vrablic said in explaining why she referred to Trump as a "whale."

Once Trump was on board, leadership from the bank personally courted Trump to do more business with the bank and to connect them to other potential clients. The former CEO of the bank personally met with Trump with the express goal of gaining more deposits from Trump and leveraging Trump's relationships.

CEO Anshu Jain "thought that if Mr. Trump wanted to, there could be additional leverage provided among his world," Vrablic testified.

The effort appeared to work, as the bank made over $3 million in revenue from Trump in 2013, up from only $13,000 in 2011.