civil fraud trial ruling against Donald Trump companies to pay nearly $355 million

The biggest fines yet against Trump: Engoron found that the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount. He also ruled that Trump and his companies were liable for $126 million in ill-gotten profits from the sale of the Old Post Office in Washington, DC, and that Trump and his companies were liable for $60 million in profits from the sale of Ferry Point in the Bronx. Engoron also wrote that Trump would be required for interest on those payments.
The judge gets the last word: Trump repeatedly attacked Engoron and the case throughout the 11-week trial on social media, outside the courtroom – and even to the judge’s face while he testified. On Friday, Engoron got the last word, painting Trump as a “pathological” fraudster who would not stop unless forced. The judge acknowledged that the sins Trump committed — which his lawyers frequently argued had no victim because banks were repaid and often eager to do business with Trump’s company — were not as serious as some crimes. But he faulted Trump and his co-defendants for a complete lack of contrition.
No corporate death penalty: The judge banned Trump from serving as an officer or director of a New York corporation for three years, but did not issue the so-called corporate death penalty. Engoron pulled back from a decision he issued a summary judgment in September dissolving Trump’s business certificates in finding that Trump and his co-defendants were liable for persistent and repeated fraud. But, the independent monitor installed last fall will stay in place for at least three years and an independent director of compliance should be put in place at the Trump Org. at the company’s expense, the ruling said.
Judge says Cohen told the truth: Engoron recapped Michael Cohen’s theatrical trial testimony, acknowledging the credibility issues with Trump’s former lawyer and fixer. But ultimately, Engoron said, he believed Cohen.
Trump’s adult sons banned for 2 years: Trump’s eldest sons – who’ve essentially run the Trump Organization since 2017 – are barred from serving as executives in New York for two years, according to Engoron’s order. The Trumps will have to navigate the two-year penalty as they sort out the future of the family-run real estate company.