Donald Trump fined $364m in civil fraud trial and banned from doing business in New York City

Donald Trump faced trial over allegations that he exaggerated his wealth on financial statements, ITV News US Correspondent Dan Rivers reports

A judge has ruled against Donald Trump and imposed a penalty of $364 million dollars (£288 million) in a civil fraud case on Friday.

The former US president is banned from doing business in New York for three years, and his sons Eric and Donald Jr. are barred for two years.

Trump faced trial over allegations that he exaggerated his wealth on financial statements he provided to banks, insurance companies and others.

The judge had already found Trump was liable for fraud in the civil case, but New York Attorney General Letitia James was seeking $370 million in damages.

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Ms James, a Democrat, sued Trump over what she said was not just harmless bragging but years of deceptive practices.

"In a massive victory, we won our case against Donald Trump for engaging in years of incredible financial fraud to enrich himself," James said on X, formerly Twitter.

By making himself seem richer, Trump qualified for better loan terms, saved on interest and was able to complete projects he might otherwise not have finished, state lawyers said.

Judge Arthur Engoron issued his decision on Friday after a trial which lasted over two months, that saw the Republican presidential front-runner bristling under oath that he was the victim of a rigged legal system.

In response to the verdict, Trump slammed the decision as a "complete and total sham" and called the trial a "witch hunt."

"We cannot let injustice stand, and will fight crooked Joe Biden’s weaponized persecution at every step. Make America Great Again," he added in a statement.

Trump's attorney and legal spokesperson, Alina Habba responded to Judge Engoron's ruling in a statement calling the decision a "manifest injustice - plain and simple," and expressed confidence that the decision would be overturned on appeal.

"It is the culmination of a multi-year, politically fueled witch hunt that was designed to 'take down Donald Trump,' before Letitia James ever stepped foot into the Attorney General's office," the statement continued. 

Because it was civil, not criminal in nature, the case did not carry the potential of prison time.

The trial comes comes after Trump was ordered to pay $83.3 million (£65.54 million) to former advice columnist E. Jean Carroll, in a separate defamation trial.

What other trials does Donald Trump face?

The former US president is facing criminal trial in four separate cases:

  • Hush money trial: Next month, he will face his first criminal trial accusing him of paying hush money to adult movie star, Stormy Daniels, and a former Playboy model.

  • Classified documents: Trump was indicted in June 2023 for taking classified national defence documents from the White House after he left office and resisting the government’s attempts to retrieve the materials. 

  • Election interference: Trump’s third indictment is a result of an investigation into alleged efforts by the former president and his allies to overturn the 2020 election.

  • Fulton County: Trump and 18 others face Atlanta state charges stemming from their alleged efforts to overturn the former president’s 2020 electoral defeat. Unlike the election subversion charges, this case will be insulated if Trump is re-elected in 2024 and he will not be able to pardon himself.

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