U.S. former Donald Trump and his family recently faced a major beating, and after months of trial, they were sentenced to pay more than 3$6.4 billion in damages. The case revealed fraud within the Trump Organization and had serious implications for Trump's political career and business empire.
According to British media on February 18, the New York State Attorney General launched a blockbuster lawsuit nearly two years ago, accusing Trump and his family of defrauding banks and investors over the past decade in order to obtain favorable financing terms. The lawsuit concerns the Trump Organization's real estate projects, as well as Trump's two adult sons, Donald Trump Jrand Eric Trump.
This Friday, New York Judge Arthur Ngolon issued a final judgment requiring Trump and his family to pay more than 3$5.4 billion in damages. Trump's two sons were asked to pay about $4 million each. In addition, Trump was barred from holding executive positions in New York companies and was unable to obtain loans from New York banks for the next three years. His two adult sons are also barred from holding executive positions at any New York company for the next two years.
The final verdict in this case revealed the fact that the defendant lacked credibility on the witness stand. They try to put the blame on accountants and use deceptive evidence to inflate the value of assets. In Friday's 92-page ruling, the judge noted that the history of wrongdoing within the Trump Organization and the discovery of this massive fraud case prove that it is possible for Trump and his family to continue their fraud without significant sanctions.
They have no remorse and remorse at all, almost to the point of pathology," the judge wrote.
They are only accused of inflating the value of assets in order to make more money. Documents have proven this time and time again. It's a misdemeanor, not a felony," he added. "The defendant did not commit the crime of ** or arson. They didn't rob a bank at gunpoint. Donald Trump is not Bernard Madoff. However, the defendants were unable to admit their wrongdoing. ”
In response, Mr. Trump called the ruling an "illegal, non-American-style verdict" against him, his family and his huge business, in a statement on Friday.
This 'decision' is complete**, he wrote on his Truth Social. "No victims, no losses, no complaints. ”
His lawyer, Alina Haba, said they planned to appeal, while the attorney general touted the ruling as a "huge victory" for the state.
When powerful people cheat to get better loan terms, it comes at the expense of hardworking people," she said in a statement. "The average American can't lie to the bank to get a mortgage, and if they do, our ** will punish them severely. Different people can't have different rules. ”
Overall, the verdict has serious implications for Trump's political career and business empire, and is a huge setback for Trump that could seriously damage his reputation and political future.