Judge Arthur Engoron, from New York, ruled this Friday (16) that former President of the United States Donald Trump must pay a fine of US$354.9 million (R$1.76 billion) for inflating the numbers of the financial statement of his real estate company, the Trump Organization. Additionally, he is banned from doing business in New York State for three years.
As a result, state Attorney General Letitia James sued Trump and the Trump Organization in September 2022 for lying for a decade about asset values and net worth to obtain better terms on bank loans and insurance.
She said that the former US president inflated his net worth by up to US$2.23 billion (R$11.9 billion) in the annual financial statements provided to banks and insurance companies.
Letitia said the assets whose values were inflated included Trump’s Mar-a-Lago estate in Florida, his penthouse apartment in Manhattan’s Trump Tower, and several office buildings and golf courses.
In addition to Trump, two of his sons, Don Jr. and Eric, were also convicted. Each will have to pay US$4 million (R$20 million).
When sentencing the former president, Judge Engoron stated that Trump and others involved in the process are incapable of admitting the error of their procedures.
“The lack of repentance and remorse borders on the pathological. Instead (of repenting), they adopt a ‘I saw nothing, I say nothing’ stance that the evidence contradicts,” the judge said.
With that, Trump’s lawyer in this case, Alina Habba, stated that the decision is unfair and the result of a politically motivated witch hunt.
Trump and his children will appeal the decision.
