The ruling, if upheld, marks the end of the Trump Organization as we know it.
New York Supreme Court Justice Arthur Engoron ordered Donald Trump to pay $355 million in fines for business fraud in an excoriatingon Friday that also imposes major penalties on the former president’s family and business associates. Both Eric Trump and Donald Trump Jr. are each liable for $4 million, while former CFO Allen Weisselberg is on the hook for $1 million.
The ruling, if upheld, marks the end of the Trump Organization as we know it: Engoron barred Trump from serving as an officer in any New York corporation or legal entity for three years, and prohibited him from applying for loans from any financial entity in the state. The judge has effectively hobbled the entire Trump corporate empire.
During trial, members of the Trump family took the stand to defend their father’s business dealings, with little success; Engoron declined to credit their testimony in his Friday opinion, noting that Eric Trump actually reversed himself on the stand after evidence emerged that he had lied under oath. Trump himself took the stand, as well, assuming a combative and antagonistic pose toward the judge, whom he publicly derided as a partisan hack.
There are numerous cases still pending against the former president. The millions of dollars still forthcoming in attorneys’ fees alone now look financially ruinous, and have already been a major drain on his campaign coffers: His political fundraising committees spentin 2023 alone to cover legal fees, diverting much-needed money away from his presidential campaign.
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