A judge on Friday ruled against former President Donald Trump and imposed a $364 million penalty in his New York civil fraud case.
A New York judge ruled Friday against Donald Trump, imposing a $364 million penalty over what the judge said was a yearslong scheme to dupe banks and others with financial statements that inflated the former president’s wealth.
The suit accused Trump and his co-defendants of routinely puffing up his financial statements to create an illusion his properties were more valuable than they really were. State lawyers said Trump exaggerated his wealth by as much as $3.6 billion one year. In that earlier ruling, the judge found that Trump’s financial statements had wrongly claimed his Trump Tower penthouse was nearly three times its actual size and overvalued his Mar-a-Lago estate in Palm Beach, Florida, based on the idea that the property could be developed for residential use, even though he had surrendered rights to develop it for any uses but a club.
The suit is one of many legal headaches for Trump as he campaigns for a return to the White House. He has been indicted four times in the last year -- accused in Georgia and Washington, D.C., of plotting to overturn his 2020 election loss to Democrat Joe Biden, in Florida of hoarding classified documents, and in Manhattan of falsifying business records related to hush money paid to porn actor Stormy Daniels on his behalf.
On Jan. 26, a jury ordered Trump to pay $83.3 million to writer E. Jean Carroll for defaming her after she accused him in 2019 of sexually assaulting her in a Manhattan department store in the 1990s. That’s on top of the $5 million a jury awarded Carroll in a related trial last year.
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