{"id":27708,"date":"2024-02-19T09:51:30","date_gmt":"2024-02-19T04:21:30","guid":{"rendered":"https:\/\/farratanews.online\/looming-legal-penalties-raise-questions-about-donald-trumps-finances\/"},"modified":"2024-02-19T09:51:30","modified_gmt":"2024-02-19T04:21:30","slug":"looming-legal-penalties-raise-questions-about-donald-trumps-finances","status":"publish","type":"post","link":"https:\/\/farratanews.online\/looming-legal-penalties-raise-questions-about-donald-trumps-finances\/","title":{"rendered":"Looming legal penalties raise questions about Donald Trump’s finances"},"content":{"rendered":"
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“Kudlow” panelists Pam Bondi and Gregg Jarrett react to a judge ordering former President Trump to pay more than $350 million in a New York fraud case.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Former President Trump<\/u> is facing hundreds of millions of dollars in looming penalties from civil cases that could challenge the ability of Trump and his organizations to fund the legal judgments against them.<\/p>\n
A New York judge on Friday ruled that Trump and other defendants in the case committed fraud while building his real estate empire by deceiving banks, insurers and others by overvaluing his assets and exaggerating his net worth on financial documents used to secure financing for various transactions.<\/p>\n
Judge Arthur Engoron ruled that the former president and his organizations owe more than $354 million in damages<\/u>, plus 9% interest, and also barred Trump from running a business as an officer or director in New York State for three years. The judge is expected to issue a decision on the amount that Trump will have to pay soon, and he may increase that amount to $370 million plus interest sought by New York Attorney General Letitia James.<\/p>\n
The fraud ruling comes weeks after Trump was ordered to pay more than $83 million in a defamation case brought by writer E. Jean Carroll, who accused Trump of sexual assault and had previously been awarded more than $5 million from Trump in a separate civil case. In total, the more than $400 million in penalties is a significant sum that has prompted speculation about the ability of the former president and his organizations to pay the bill without having to sell off assets.<\/p>\n
TRUMP BARRED FROM OPERATING BUSINESS, ORDERED TO PAY OVER $350 MILLION IN NY CIVIL FRAUD CASE<\/u><\/strong><\/p>\n