WASHINGTON (APRO) – Donald Trump, former President of the United States, has been fined more than $350 million and suspended for three years from doing business in New York on charges of intentional fraud to evade taxes and deceive his associates and investors.
Arthur Engoron, a New York State Supreme Court judge, issued the ruling against Trump and his family company after he was accused of fraud by the state's attorney general, Letitia James, who defeated the former president in this case.
Although Trump is expected to appeal the judge's ruling, the fine and suspension he received could spell ruin for New York-based real estate and construction companies.
The civil trial was held without a qualified jury, and for Judge Engoron, the evidence presented by the New York State Attorney General about how Trump and his employees manipulated the financial statements and securities of their companies was sufficient.
The fine of just over $350 million that will be paid to the state could reach about $400 million due to the interest that it will also have to pay for losses that may be caused to third parties due to the fraud.
The judge's ruling regarding the suspension of Trump's companies from operating in New York means that the former president and current candidate again for the presidency of the United States cannot participate for 3 years in any role or role in the merger of any company.
Trump's ban on businesses also applies to two of his sons, Eric and Donald Jr., both of whom are executives in their father's businesses.
The former President of the United States has 30 days to pay the fine of more than $350 million or file an appeal against Engoron's decision.
Some business specialists and analysts believe that if the ruling against Trump is upheld in New York, the losses he suffered could now cause the bankruptcy of the real estate and construction companies owned by the punished person.
