Donald Trump’s massive fraud lawsuit has come to a close, with Judge Arthur Engoron fining him over $450M for fraudulently inflating his assets to secure more favorable loans. The former president’s children, Eric and Don Jr., have also been fined for this part in assisting Trump in fraudulent activities pertaining to the business. Keep reading for more information.
What do Donald Trump's kids have to do with the fraud lawsuit?
Donald Trump Jr. and Eric Trump were accused of assisting Trump as he fraudulently inflated the value of his properties and assets in financial statements to obtain perks such as tax breaks and better bank loans.
Ivanka left the family business in 2017, but was originally named in the lawsuit. She was dismissed from the case in June due to the statute of limitations for most of the allegations against her, but, in a recent development, Judge Engoron has ordered her to testify as a witness. According to James, Ivanka was a key "point of contact" and negotiator with Deutsche Bank for three loans which form a major part of James' investigation.
Donald Trump calls Judge Engoron 'a disgrace to the legal profession'
Donald Trump has been in and out of the courtroom since he left the presidency in 2020, and the latest case he’s involved in is a fraud lawsuit from NY Attorney General Letita James. Though he is no stranger to the court, it is now his childrens' turn to testify, and the former president feels very strongly that it is not necessary.
In a post to Truth Social, Trump called for Judge Engoron to "leave my children alone," and then declared, "you are a disgrace to the legal profession!"
In the same post, the former president called the lawsuit a "Rigged Trial," called Attorney General Letita James "Racist" and claimed that “this Fake Case should be dismissed." Trump also noted that "there is no Victim (except me!)."
Judge Orders Donald Trump To Pay Over $450M As Massive Fraud Lawsuit Comes To A Close
After months in the courtroom, Judge Engoron has finally found Donald Trump guilty of fraud, and has hit him with a $450M fine as a result. The judge found $354M in damages from fraud from the various properties, and added the interest that started accruing from different points for the different properties of about $100M more, bringing us to a grand total of $450M.
He also ordered each of Donald Trump’s two sons, Eric and Don Jr., to pay $4M, and the former chief financial officer for the company, Allen Weisselberg, $1M. Pennies. In comparison to Donald Trump’s bill. Plus, NY Attorney General Letitia James, whose office brought the case, said that the amount “will continue to increase every single day” until the full amount is paid.
“Donald Trump is finally facing accountability for his lying, cheating, and staggering fraud,” James’ statement reads. “Because no matter how big, rich, or powerful you think you are, no one is above the law.”
Trump Responds To $450M Fine On Social Media
Trump responded predictably, saying, “We’ll appeal and we’ll be successful.”
Later, in a post to Truth Social, the social media platform that Trump uses after being banned from Twitter, now X, Trump provided a few more select responses:
“This is election interference, and must be immediately stopped. I should not have to go through any fake prosecutions before the election. This is communism, and a threat to democracy. Our country will not stand for it,” he wrote in all caps yesterday morning.
“My financial statements were understated, not overstated!” he wrote in another post. “This all fit the fake narrative of the corrupt and many times overturned ‘judge,’ and the radical left, soros backed, slob of an attorney general, who primary goal is, in close coordination with the white house, and like all of the other litigation against me, an attack on crooked Joe Biden’s political opponent, me!” This post also followed the example of the last one, and was in all caps.
