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
Court adjourned until Monday
Court has adjourned for the day, with the trial scheduled to resume Monday for the start of the defense's case.
The court will be closed Friday in observation of Veterans Day.
Donald Trump Jr. will return to the witness stand to testify as the defense's first witness on Monday, assuming the judge does not rule in favor of Trump's motion for a directed verdict to end the case early.
Judge denies NY AG's motion to quash 4 defense witnesses
Judge Engoron has denied a motion from the New York attorney general to preclude four expert witnesses from testifying for the defense when the defense presents it case starting on Monday.
The state had sought to preclude the four experts' testimony on the grounds that, following the testimony of the state's witnesses, the four defense witnesses were no longer relevant to the case.
"You've won the battle. We'll see if you win the war," Engoron told defense attorney Chris Kise -- though he warned Kise that he would cut off the witnesses if they try to debate facts already established in the case.
In making his ruling, Engoron reiterated his finding from his earlier summary judgment order that Donald Trump made at least ten internally contradictory claims in his statements of financial condition.
"You can't have a correct statement with these kinds of errors," Engoron said.
Kise told the court that Donald Trump Jr. will be the first witness to testify in the defense's case on Monday.
"Oh, I know him," Engoron deadpanned after the announcement.
It will mark Trump Jr.'s return to the witness box after the state put him on the stand last week.
Defense attorney apologizes for barb
Court has resumed after a lunch break, and Trump attorney Chris Kise appears to have had a change of heart regarding his earlier barb directed toward state attorney Andrew Amer.
Before lunch, Kise threw some shade at Amer during arguments over the state's motion to preclude testimony from four of the defense's expert witnesses.
Returning from court after the break, Kise took back his words and apologized.
"I am going to apologize to the court, I am going to apologize to Mr. Amer," Kise said.
"I appreciate it and accept the apology," Amer responded.
Trump attorney blasts motion to limit defense witnesses
Trump attorney Chris Kise grew visibly frustrated as today's proceedings moved on to arguments over the state's motion to preclude testimony from four of the defense's expert witnesses that the state argues are no longer relevant to the case.
After state attorney Andrew Amer argued in favor of the motion, Kise suggested he belongs in totalitarian Russia.
"I suggest Mr. Amer check the internet," Kise said. "Vladmir Putin has some openings. That is where he belongs."
Describing the comment as "completely uncalled for," Judge Engoron suggested that Kise apologize to Amer.
"I am not going to apologize," Kise said, though he promised to refrain from "further pejoratives."
Trial is a 'documents case,' state lawyer says
State attorney Kevin Wallace, arguing against the defense's motion for a directed verdict to end the trial early, reiterated that the state's case relies on documents that they say incriminate Donald Trump and his adult sons.
"This is a documents case," Wallace said. "Each of the three defendants signed documents saying they were responsible for the fair presentation of the statements."
While the defendants all testified that they relied on accountants, Wallace said by way of analogy that it's like the defense saying that using an accountant absolves an individual of filing false tax returns.
"I am liable for that fraudulence," Wallace said. "I am not relieved of my responsibility because I handed off to an accountant."