Trump Business Fraud Judgment

🟡 Fraud & Financial Crime · Feb 16, 2024

Summary

New York Supreme Court Justice Arthur Engoron in February 2024 ordered Donald Trump, his sons Donald Jr. and Eric, and the Trump Organization to pay $364 million plus approximately $100 million in interest for what the court described as “a yearslong scheme to dupe banks and others with financial statements that inflated the former president’s wealth.” Engoron found that Trump had repeatedly overstated property values by hundreds of millions of dollars to secure favorable loan terms. Trump was barred from serving as an officer or director of any New York corporation for three years and ordered to undergo independent monitorship. Trump denied wrongdoing and appealed the verdict, calling it political persecution.