New York Attorney General Letitia James sued Donald Trump, his two adult sons, the Trump Organization, and two firm executives, Allen Weisselberg and Jeff McConney, in September 2022. Engoron found that Trump inflated his assets to get more favorable business loans. A trial was held to determine how much Trump and his associates would pay in damages. Trump has maintained his innocence in the case and claimed it was politically motivated.
Engoron ruled on Friday that Trump will have to pay $354.9 million in penalties. Trump, Weisselberg, and McConney will also be barred from serving as an officer or director of any New York corporation or other legal entity in the state for three years. Weisselberg and McConney are also banned from serving in a financial role in a New York corporation or similar business entity indefinitely. Trump’s sons will have to pay upwards of $4 million each and are banned from doing business in New York for two years. Meanwhile, Weisselberg was ordered to pay $1 million.
Trump’s lawyer, Christopher Kise, said the court “ignored the law, ignored the facts, and simply signed off on the Attorney General’s manifestly unjust political crusade against the front-running candidate for President of the United States.” James wrote on X, formerly Twitter, “In a massive victory, we won our case against Donald Trump for engaging in years of incredible financial fraud to enrich himself.” Trump plans to appeal Engoron’s decision, and Kise remains confident that the Appellate Division will ultimately correct the innumerable and catastrophic errors made by a trial court untethered to the law or reality.
