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TLDR:
– Donald J. Trump lost his civil fraud trial and has been penalized nearly $355 million plus interest
– Justice Arthur F. Engoron’s decision could impact Trump’s finances and his influence over the Trump Organization
Donald J. Trump lost his civil fraud trial on Friday as Justice Arthur F. Engoron found him liable for violating state laws and penalized him nearly $355 million plus interest. Along with other punishments, Trump has been barred from leading any company in the state, including portions of his family business, for three years. The ruling could potentially drain all of Trump’s cash, setting his family business reeling. Although the threat is not existential, as the judge did not dissolve the company, it dealt Trump a serious financial blow and a symbolic swipe at his billionaire image.
The New York attorney general, Letitia James, emphasized that there cannot be different rules for different people in the country, even former presidents, stating that when the powerful break the law and take more than their fair share, there are fewer resources available for working people, small businesses, and families. Trump has announced plans to appeal the ruling, which could take months or even years to resolve.
