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
NY AG's chief real estate lawyer to question Ivanka Trump
Louis Solomon, the chief of the New York attorney general's real estate finance division, is expected to lead the questioning of Ivanka Trump.
Solomon led Ivanka's Trump deposition in August 2022, where she denied being involved in her father's financial statements that are at the center of the case.
Earlier in the trial, Solomon led a contentious direct examination of former Trump Organization CFO Allen Weisselberg, who frequently struggled to answer questions about who was responsible for various financial decisions at the company.
Solomon has frequently sparred with Donald Trump's lawyers during the trial, including a heated exchange after multiple members of the state team tested positive for COVID-19 during the proceedings.
"Everything in this courtroom concerns me and my client, including your health," defense lawyer Chris Kise said.
"Thanks for your concern," Solomon responded offhandedly.
Ivanka Trump arrives at courthouse
Ivanka Trump has arrived at the New York State Supreme Courthouse, where she was greeted by a crowd of photographers ahead of her testimony this morning.
She did not make a statement outside court.
The eldest daughter of former President Trump is scheduled to take the stand at around 10 a.m. ET.
Crowd of reporters awaits Ivanka Trump outside court
A sizeable group of reporters is huddling outside the New York State Supreme Courthouse in lower Manhattan awaiting the arrival of Ivanka Trump on a chilly 42-degree morning.
Moderately smaller than the crowd that waited her father on Monday, photographers and court reporters are crammed in a narrow maze of metal barriers that police have assembled outside the building for the trial. The security arrangement, which has been utilized any time a Trump family member has appeared in court, has become a regular part of life for reporters covering the trial and a curiosity for tourists exploring downtown New York.
"Is this the line to see Donald Trump?" a passerby asked this morning.
"Yes, but he's not here today," a reporter responded to the visibly disappointed tourist.
Trump lauds 'beautiful daughter' ahead of Ivanka's testimony
Former President Donald Trump has renewed his attacks on New York Attorney General Letitia James and Judge Arthur Engoron ahead of testimony this morning from his daughter Ivanka Trump, who is expected to be the last witness in the state's case before the defense begins presenting its case.
"My wonderful and beautiful daughter, Ivanka, is going to the Lower Manhattan Courthouse, at the direction of Letitia Peekaboo James ... and a Trump Hating, out of control Clubhouse appointed Judge, Arthur Engoron, who viciously ruled against me before the trial even started," Trump wrote on Truth Social, referring to the judge's partial summary judgment against the defendants.
Donald Trump's lawyers also plan to question Ivanka Trump -- a notable departure after they declined to cross-examine Donald Trump and his adult sons when they testified.
"We are certainly going to ask her questions, to the extent we have questions," Trump's attorney Chris Kise said on Monday. "We are trying to get that done now so as to minimize the interference in her life to not have to come back again."
Trump, James arrive at courthouse for closing arguments
Donald Trump has arrived via motorcade at the lower Manhattan courthouse where closing arguments are scheduled to take place.
The former president pulled up shortly after New York Attorney General Letitia James arrived.
Traffic around the courthouse was briefly disrupted about half an hour before Trump's arrival by a group of protesters chanting "No dictators in the USA" as they waved signs and displayed a large banner.