In a civil fraud lawsuit initiated by the attorney general of New York state, former US President donald trump was held guilty for manipulating his net worth. As a result, a New York judge legally ordered him to pay $454.2 million. The payment covers the $354.9 million penalty, plus interest, that Manhattan State court Judge Arthur Engoron imposed on february 16 after a three-month-long nonjury trial.
 
In addition, Engoron ordered the payment of over $4.7 million by each of Trump's adult sons, Eric and donald trump Jr., as well as $1.1 million by the former chief financial officer of the trump Organisation, Allen Weisselberg, all of which included interest. The $464.6 million in awards were decided on Thursday. Interest on almost $114,000 will be coming due every day, primarily to Donald Trump. The ruling was released to the public on Friday.
 
The defendants, according to Attorney General Letitia james, fraudulently overstated the value of Trump's properties in order to boost his net worth and secure better conditions on loans and insurance.
 
In addition, Engoron prohibited trump from holding a senior position at any New York-based business for three years and from applying for loans from banks that are registered in the state. His adult sons were barred from leadership positions for two years.
 
The offenders' "complete lack of contrition and remorse borders on pathological," according to the court.
 
The commercial empire that trump has spent much of his adult life building is in jeopardy due to Engoron's decision.
 
In an effort to unseat Democrat Joe Biden and win back the White House, the former president of the United States, a Republican, has entered a not guilty plea to four separate criminal cases.
 
Trump has labelled the investigation as a witch hunt by rival politicians and accused Democrats james and Engoron of being corrupt.
 
He intends to file an appeal of his sentence with the mid-level appeals court, the Appellate Division, but first he must pay the outstanding amount or get a bail.
 
Clifford Robert, the defendants' attorney, asked Engoron to postpone the judgements' enforcement for thirty days so as to provide "an orderly post-judgment process, particularly given the magnitude of judgement." Engoron denied his request.
 
Engoron sent Robert an email on thursday morning saying, "You have not provided any justification for a stay, much less explained one. I have no doubt that your appeal rights will be upheld by the appeal Division."
 
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G GOWTHAM

24/02/2024 10:53 AM