Trump family and corporations sentenced to a total fine of $364 million
Court “False information was used to borrow a lot of money at low interest”
“I don’t even admit my mistakes”… Trump announces immediate appeal
A U.S. court sentenced former President Donald Trump and others, who were accused of inflating his assets, to a fine of close to 500 billion won on the 16th (local time).
Former President Trump was awarded more than 100 billion won in damages in a defamation case against a sexual harassment victim late last month, and if the ruling is confirmed, he will have to endure huge expenses. Former President Trump’s side characterized this ruling as a politically motivated witch hunt and announced an appeal.
According to the Associated Press and CNN, New York City Manhattan District Court Judge Arthur Engoron sentenced former President Trump’s family and company to a fine of approximately $364 million (approximately 486.3 billion won) on this day.
The court ruled that former President Trump and the corporation must pay $355 million, and former President Trump’s two sons must each pay $4 million.
In addition, Judge Engoron banned former President Trump from working at any company in New York for the next three years. However, no business ban was imposed on the Trump Corporation.
In his 92-page ruling, Judge Engoron ruled, “The defendants submitted blatantly false financial data to accountants in order to borrow more money at a lower interest rate, and as a result, created false financial statements.”
Judge Engoron noted that although the actions of former President Trump and others were not the same crime as murder, the defendants did not admit wrongdoing.
He said, “The defendants did not commit murder or arson. They didn’t rob the bank at gunpoint. He pointed out that “Donald Trump is not Bernard Madoff (a financial fraudster)” but “did not admit any wrongdoing.”
In addition, he emphasized, “The defendants only denied statements, facts, and expert testimony at the trial, and did not admit responsibility or present internal controls to prevent future recurrence.”
Former President Trump immediately protested.
Alina Harbaugh, former President Trump’s lawyer and legal team spokeswoman, said in a statement, “(New York State Attorney General) Letitia James is part of a multi-year political witch hunt designed to ‘bring down Donald Trump’ before she even stepped foot in the Attorney General’s office.” “It’s the peak,” he said.
He also announced that he plans to appeal against the ruling.
Former President Trump is suspected of conspiring with his eldest son and the Trump Organization to profit by inflating the value of real estate, including the Trump Tower building in New York, the Mar-a-Lago resort in Florida, and golf courses, for over a decade.
New York State Attorney General and Prosecutor General Letitia James, who filed this lawsuit, requested that $370 million (approximately 487.29 billion won) be recovered from former President Trump and other defendants and a ban on doing business in New York State.
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Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.