Trump’s Legal Woes Continue: Judge Imposes $450 Million Fine and Business Ban

Former President Donald Trump faces a substantial setback as a New York judge, State Supreme Court Justice Arthur Engoron, imposes fines exceeding $350 million and a three-year ban on doing business in the state.

This blow comes after Trump was found guilty of fraud in a civil case brought by New York’s Attorney General, Letitia James. The penalties, including interest, amount to $450 million and will continue to accumulate until paid. Engoron criticized Trump’s conduct as “bordering on the pathological” due to a perceived lack of remorse. The former president, disputing the ruling on Truth Social, called it “an illegal, unAmerican judgment.”

In a separate criminal fraud trial ordered to begin on March 25, Trump faces accusations of falsifying business records to conceal hush money paid to a porn star. The trial coincides with the Republican Party’s intraparty elections, potentially impacting Trump’s campaign.

The financial blow, coupled with the three-year business ban, poses challenges to Trump’s identity as a wealthy businessman. Despite Forbes estimating his wealth at $2.6 billion last year, down from $3.2 billion, Trump’s campaign funds may remain robust with a reported $33 million on hand at the end of last year. Trump’s sons also face fines and a two-year business ban.

The case centers on allegations of Trump inflating his wealth when applying for bank loans, constituting business fraud. Attorney General James pursued the case independently, despite the banks not complaining. The fines include $168 million, representing the amount Trump saved due to favorable loan terms based on the alleged exaggeration of his wealth. Engoron extended the term of an independent monitor overseeing the Trump Organization, adding to Trump’s humiliation.