PNN – A New York state court judge ordered Donald Trump and his business firm to pay $355 million in a fraud case for financial corruption caused by documenting and providing false information about the true value of his company’s assets and capital.
According to the Pakistan News Network, The New York state court judge also banned Donald Trump from doing business in New York and holding management positions in public companies for three years, and will also be banned from taking any bank loans in New York state for three years.
The New York prosecutor’s office asked the court to fine Trump 370 million dollars, but the court judge sentenced Trump to a fine of 354.9 million dollars.
Judge Arthur Ngoron also fined Trump’s two sons, Donald Jr. and Eric, for fraud in New York, including issuing false financial statements and falsifying business records. Accordingly, each of Trump’s sons was also fined four million dollars.
Additionally, Alan Weiselberg, the former CFO of the Trump Organization, was fined $1 million. Trump’s lawyer called the ruling a “manifest injustice” and said he plans to appeal.
In September of last year, the judge of this court in New York ruled in a non-criminal case that former US President Trump repeatedly exaggerated the amount of his wealth by several billion dollars to banks and insurance companies.
The Attorney General of the State of New York was the public prosecutor in this case, and at that time it was announced that Trump took this action to get cheap loans and insurance.
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This court revoked some of Trump’s business licenses in New York and now ordered the suspension of any business activity by Trump’s company for the next three years.
The judge in this case says that Trump has exaggerated the value of his assets by two billion two hundred million dollars over the course of a decade.
Former US President Donald Trump and Biden’s rival in the upcoming US presidential elections have several cases that are to be dealt with before the US elections are held in November.
Earlier, a US judge in a ruling set a Trump court hearing as scheduled for next month (March 25) and opposed the requests of the defense lawyers of the former US president to delay the court hearing.
The Associated Press reported that Judge Juan Manuel Murchan used the delay in Trump’s separate trial in Washington and announced this month for his trial.
The Trump case in Washington is related to the conspiracy to change the results of the 2020 presidential election. The case is effectively on hold pending the outcome of Trump’s appeal.
The decision means the case related to Trump’s right to remain silent and secret relationships during the 2016 presidential campaign is the first of four criminal charges against him to go to trial. Other charges against Trump include trying to alter election results and illegally storing classified documents at his Florida home.
Trump’s lawyers criticized the decision to set the date and that Trump should be tried in New York at the same time as he is trying to run for office.