'Rigged’: Internet fumes as Trump ordered to pay $355M penalty in civil fraud case, barred from NY business for 3 years

WASHINGTON, DC: A New York judge concluded on Friday, February 17, that former President Donald Trump had overstated his net worth by billions to deceive banks and insurers for over ten years. The judge ordered Trump to pay $355 million in penalty and temporarily barred him from conducting business in the state where he earned his reputation.

Justice Arthur Engoron of the Manhattan Supreme Court has ruled that Trump, who has frequently asserted that the case is a politically driven "witch hunt," would not be allowed to hold an officer or director position in any business in New York for three years.

Donald Trump barred from NY business

Additionally, Engoron ordered the two eldest sons of Trump to pay $4 million each and imposed a two-year restriction on doing business in New York. The jurist wrote in a 92-page ruling, "The frauds found here leap off the page and shock the conscience."

According to the office of New York Attorney General Letitia James, who led the prosecution of the case, the total amount ordered to be paid by all defendants—including the Trump Organization and a few executives—was around $364 million, which, when interest is taken into account, comes to $450 million.

Alina Habba, a Trump attorney, referred to the decision as a "manifest injustice" and expressed her confidence that it will be reversed on appeal, putting a stop to "this relentless persecution against my clients".

She stated, "If this decision stands, it will serve as a signal to every single American that New York is no longer open for business."

Clifford Robert, the lawyer for Eric and Donald Trump Jr, shared the sentiment, referring to the verdict as "a gross injustice".

"The Court today ignored the law, ignored the facts, and simply signed off on the Attorney General’s manifestly unjust political crusade against the front-running candidate for President of the United States," another Trump attorney, Chris Kise, stated.

Financial setback for Trump

After a three-month civil trial, the verdict placed a dent in Trump's carefully cultivated persona as a businessman who, before joining politics, turned his father's firm into one of the most recognizable real estate companies in the world.

Additionally, it dealt the Republican frontrunner for president in 2024 yet another financial setback, coming just weeks after he was hit with a $83.3 million jury ruling in a defamation damages lawsuit in Manhattan federal court.

In a harsh pre-trial finding, Engoron stated that Trump supported his company between 2011 and 2021 by inflating the value of properties like his eponymous Midtown skyscraper and Mar-a-Lago Club in Florida on financial forms, giving the impression that he was living in a "fantasy world".

Accountants and real estate appraisers that James' office called to testify stated that Trump routinely overvalued more than a dozen properties to secure favorable interest rates, sparing the Trump Organization hundreds of millions of dollars on real estate and the penthouse in Manhattan.

Internet fumes as Donald Trump asked to pay $355M

Several social media users showed their displeasure as Donald Trump was ordered to pay $355 million.

A user on X wrote, "The most ridiculous case ever. Using the law as a weapon just degrades people's trust in the system."

One added, "The fraud case where there was no fraud? Sounds about right."

Another user added, "If this judgment isn't reversed at appeal it will set a precedent that wrecks the real estate business in the US and maybe worldwide!"

One stated, "Rigged."

Another user added, "Looks like they’re using Trump’s money to help a bankrupt city."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.