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 appeals judge's pretrail ruling that he committed fraud
Three days into their fraud trial, Trump and his co-defendants have appealed the pretrial ruling last week by Judge Engoron that Trump and his adult sons committed fraud in their business dealings.
Engoron made the determination last Tuesday but said the trial was still required to decide the scope of the penalty plus six remaining causes of action alleged by the New York attorney general.
Trump's appeal asks the court to consider whether Engoron "committed errors of law and/or fact, abused its discretion, and/or acted in excess of its jurisdiction" when he ruled that Trump committed fraud and canceled his business certificates in New York state.
Trump's last attempt in this case to appeal to a higher court was denied by the appellate division of the New York State Supreme Court on the eve of the trial.
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.
'I wasn't involved' preparing financial statements, Trump Jr. says
Before stepping down from the witness stand at the end of the afternoon, Donald Trump Jr. was asked repeatedly about his involvement in the Trump Organization's statements of financial condition -- the allegedly fraudulent documents that underpin the attorney general's case.
Trump Jr., who signed and certified the accuracy of the statements while his father was president between 2016 and 2021, said that he was not involved in preparing the filings.
"I wasn't involved in the compilation of this statement of financial condition," Trump Jr. said, placing the responsibility on his accountants.
"Did you work on the statement of financial condition for June 30, 2017?" state attorney Colleen Faherty asked.
"I did not. The accountants worked on it. That's what we paid them to do," Trump Jr. said.
Throughout the afternoon, the tone of the proceedings alternated rapidly between lighthearted and heated, varying from playful interactions between Trump Jr. and Judge Engoron, to bitter spats between some of the lawyers.
"I know you don't like it when good evidence comes in," Faherty told the defense lawyers during one particularly heated exchange.
"There's no reason to raise your voice," Donald Trump Jr.'s lawyer, Clifford Robert, responded.
Trump Jr. is scheduled to return to the stand tomorrow morning.