Jonathan Stempel
NEW YORK (Reuters) – A New York judge has formally ordered Donald Trump to pay more than $454 million after he was found guilty of manipulating his net worth in a civil fraud case brought by the New York state attorney general.
The payout includes a $354.9 million fine that Judge Arthur Engoron of Manhattan State Court imposed on Feb. 16, plus interest after a non-jury trial that lasted more than three months.
Engoron also ordered Trump’s adult sons, Donald Trump Jr. and Eric Trump, to each pay nearly $4.7 million, and former Trump Organization CFO Allen Weisselberg to pay $1.1 million, including interest.
The payments were determined Thursday and interest will continue to accrue. The decision was announced on Friday.
Attorney General Letitia James accused the defendants of illegally inflating the value of Trump’s properties to inflate his net worth and obtain better loan and insurance terms.
Engoron also banned Trump for three years from holding executive positions in any New York company or receiving loans from banks registered in the state. His adult sons received a two-year ban from leadership positions.
The judge said the defendants’ “complete lack of remorse and contrition borders on pathological.”
Engoron’s decision threatens the business empire Trump spent most of his adult life building.
The Republican former president also faces four unrelated criminal charges to which he has pleaded not guilty as he tries to retake the White House from Democrat Joe Biden.
Trump accused James and Engoron, both Democrats, of corruption and called the case part of a witch hunt by political opponents.
He plans to appeal his fine to the Appellate Division, a mid-level appellate court, but will have to collect the amount owed or receive a bond.
Engoron rejected a request by Clifford Robert, the defendants’ lawyer, to delay enforcement of the judgments for 30 days to allow for “an orderly post-judgment process, especially given the magnitude of the judgment.”
In an email to Robert on Thursday morning, Engoron wrote: “You have failed to explain, much less justify, any basis for suspending the case. I am confident that the Appellate Division will protect your appellate rights.”