Donald Trump was sentenced to pay 454.2 million dollars (419.86 million euros) after being found responsible for exaggerating his fortune to deceive bankers and obtain loans on more favorable conditions. The payment includes the $354.9 million fine decided by Manhattan State Court Judge Arthur Engoron on February 16, plus interest. At the end of a three-month trial in Manhattan, Judge Arthur Engoron also banned Donald Trump for three years from holding management or executive positions in any New York-based company.
The judge also ordered the former president’s sons, Donald Trump Jr. and Eric Trump, to each pay nearly $4.7 million. The Trump Organization’s former chief financial officer, Allen Weisselberg, must pay him $1.1 million, including interest. The total amount of the fines, $464.6 million, was determined Thursday and publicly announced Friday. More than $114,000 in interest will continue to accrue daily until the fines are paid, primarily for Donald Trump.
Former US president’s real estate empire under threat
According to the accusation presented by prosecutor Letitia James, Donald Trump exaggerated his fortune, up to $3.6 billion a year for a decade, to deceive his bankers. This ruling threatens Donald Trump’s real estate empire a few months before the presidential elections in the United States, during which he should try to regain the White House from the outgoing Democratic president, Joe Biden.
Donald Trump plans to appeal the decision, however he will have to deposit the requested amount in escrow. Judge Arthur Engoron rejected a request from Donald Trump’s lawyer, Clifford Robert, to delay the execution of the sentences for 30 days.
Source: BFM TV
