Judge slaps Trump a multimillion fine on fraud charges

The ex-president is also banned from holding managerial positions in NY companies or borrow money from banks.

Donald Trump faces a significant setback as Judge Arthur Engoron has imposed a staggering 355-million-dollar fine in the New York civil fraud case, dealing a severe blow to his beleaguered finances.

The repercussions for Trump extend beyond the hefty fine; he is now prohibited from securing loans from any New York bank for three years, complicating his ability to fund an appeal. This financial strain means he may be forced to sell some of his properties.

Additionally, Trump is barred from holding key positions in any New York companies, including his own, for three years. An independent monitor will oversee the Trump Organization to detect any fraudulent or suspicious activities.

According to the judgement, the 9% interest rate on the judgment could elevate total fines to over 400 million dollars, marking Trump's most severe financial crisis.

This development comes at a challenging time for Trump, facing numerous indictments that could lead to imprisonment, raising uncertainty about covering mounting legal fees. 

Should Trump use election campaign money to patch his legal obligation holes, he could land in prison for another fraud.

Remarkably, Judge Engoron has also prohibited Donald Trump Jr. and Eric Trump from serving as officers or directors of any New York corporation or legal entity for two years, imposing individual fines of 4 million each. Including the Trump Organization – this means they are jobless as of now.

This outcome is hailed as a significant victory for New York Attorney Letitia James and could motivate other states to deal with Trump’s numerous legal issues.

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