Judge Engoron prohibits Trump from conducting business in New York for 2 years, orders payment of $354.9M
OAN’s Sophia Flores
12:14 PM – Friday, February 16, 2024
Judge Declares Trump Liable in Civil Fraud Trial
Judge Arthur Engoron heard deliberations and made his final say in the New York courtroom, declaring that 45th President Donald J. Trump is liable, an expected decision by the liberal judge.
The Friday verdict revealed that Trump has to pay $354.9 million in the civil fraud trail. Additionally, his organization is banned from conducting business in New York for two years.
This trial was initiated by New York Attorney General Letitia James. James accused Trump, his two adult sons, Eric and Donald Trump Jr., and his top executives of inflating the Trump organization’s net worth in order to gain financial perks, such as better loans from banks.
When James first sued Trump in the fall of 2022, she asked the judge to penalize Trump $250 million for “inflating his net worth in order to retain better loans.” Her number later rose to $370 million in January, as she believed that throughout the trial, “he gained all of his money unlawfully.”
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What defense did the Trump Organization use to counter the allegations of fraudulent actions?
The former president and his organization for their alleged fraudulent actions. The trial lasted for several months, with both sides presenting their arguments and evidence.
During the trial, the prosecution presented emails, financial records, and testimony from former employees of the Trump Organization. These pieces of evidence were used to support the argument that the organization intentionally inflated its net worth to secure favorable loans and financial benefits.
On the other hand, the defense argued that the accusations were politically motivated and lacked sufficient evidence. They claimed that the Trump Organization’s financial statements were prepared in accordance with standard accounting practices and were not misleading.
After careful consideration of all the evidence presented, Judge Arthur Engoron ruled in favor of the prosecution. He declared President Donald J. Trump and his organization liable for civil fraud and ordered them to pay a whopping $354.9 million in damages.
Additionally, the judge imposed a two-year ban on the Trump Organization conducting business in New York. This significant penalty aims to prevent any further fraudulent activities by the organization in the state.
The ruling has sparked mixed reactions among the public. Supporters of the former president argue that the trial was politically motivated and that the punishment is unjust. They believe that the verdict is an attempt to tarnish President Trump’s legacy and undermine his influence.
On the other hand, critics of the former president see this ruling as a step towards holding powerful individuals accountable for their actions. They argue that no one should be above the law, regardless of their position or wealth.
It is important to note that this civil fraud trial is separate from any potential criminal charges that may be brought against President Trump and his organization. Nevertheless, this ruling has significant financial and reputational implications for both parties involved.
As the news of this verdict spreads, it is likely to fuel further debates and discussions about ethics, accountability, and the role of the justice system in holding powerful individuals accountable. It also raises questions about the impact of this ruling on President Trump’s political future and the future of the Trump Organization.
Only time will tell how this ruling will shape the legal, political, and social landscape surrounding President Trump and his organization. However, one thing is certain – this verdict will have a lasting impact and will be closely analyzed by legal experts and the general public alike.
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