Trump loses a financial fraud case, two sons were also fined $4 million
(AFP, New York, 16th) Today a New York US judge ruled that former President Trump must pay a fine of US$355 million (about NT$11.1 billion) in a fake asset fraud case and be banned from doing business in New York for three years. Trump’s two sons were also fined $4 million each.
Trump’s two sons, Donald Jr. Donald Trump Jr. and Eric. Eric Trump is also a defendant in this case. The judge ordered both men to pay $4 million each.
Donald Jr claimed on social media that “political beliefs” determine the outcome of the lawsuit, not the facts of the case.
The ruling states that the Trump Organization, which is clearly a family business, must allow an independent compliance officer (CCO, commonly known as the chief compliance officer) to join the group and be accountable to’ the court.
“We will appeal the decision of Judge Arthur Engoron,” Trump said outside his Mar-a-Lago club in Florida.
He accused Biden of being the driving force behind the prosecution and using the lawsuit “as a weapon against political opponents who are way ahead in the polls.” Trump is almost certain to be the Republican presidential candidate in the November election and is likely to face off against Biden again.
The judge held Trump responsible for illegally inflating his assets to obtain favorable terms for bank loans or insurance.
Because the case is civil rather than criminal, there will be no jail time. However, Trump said before the ruling that banning business in New York would amount to a “corporate death sentence.”
Trump used his legal woes to fuel anger among supporters and condemn Biden, saying the lawsuits were “just to hurt me in the election.” Trump also faces 91 criminal charges in other cases.
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