Trump’s empire shaken! fined with $355 million penalty for wealth deception

A New York judge’s ruling on Friday has ordered former President Donald Trump to pay $355 million in penalties, following a civil fraud verdict that finds Trump and his company guilty of lying about his wealth for years. 

While the ruling stops short of dismantling his real estate empire, it imposes significant penalties and oversight on the Trump Organization.

Judge Arthur Engoron’s decision, stemming from a trial in New York Attorney General Letitia James’ lawsuit, penalizes Trump, his company, and executives, including his sons, for intentionally inflating his wealth on financial statements to deceive banks and insurers. 

The ruling shakes up the leadership of the Trump Organization and subjects it to court supervision.

The ruling presents a significant setback for Trump’s image as a successful businessman and political figure.

With mounting legal troubles, the substantial penalties imposed by the verdict could significantly impact Trump’s financial resources and tarnish his reputation.