Despite brazenly lying on financial documents and inventing valuations seemingly out of thin air, Trump’s lender did not testify that it would have valued his loans any differently.
On Friday afternoon, New York County Supreme Court Justice Arthur Engoron ordered Donald Trump, his companies, and some executives to pay $364 million. The former president is also barred from serving as an officer or director of any New York business for three years. Trump’s lawyers indicated even before the judgment came down that they planned to appeal.
The judgment, part of New York Attorney General Letitia James’ civil fraud lawsuit against Trump and his business, the Trump Organization, concerned fraudulent statements made on loan applications that allegedly allowed the former president to get more favorable terms than he would otherwise have qualified for.
For example, in statements submitted to financial institutions, Trump routinely overstated the market value of his properties—including Trump Tower and his Mar-a-Lago beach resort, among others—as Engoron determined in a September ruling.
