UPDATED: Judge orders Trump to pay $355m in New York civil fraud case

Former U.S. President Donald Trump and his companies have been ordered to pay nearly $355 million in a New York civil fraud case.

 

New York Judge Arthur Engoron, who presided over the case also ordered that Trump would also have to pay millions in interest on that money.

 

The ruling also said Trump would be barred from serving as an officer or director of any New York corporation or other legal entity in the state for three years, among other restrictions.

 

According to CNN, The interest could add close to $100 million to the amount Trump is liable for.

 

The judge broke down the $354,868,678 in disgorgement into three parts, one of which is that the the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount.

 

According to the judge, the former president would have to pay interest dating to March 2019 for those ill-gotten gains.

 

Engoron also ruled that Trump and his companies were liable for over $126 million in ill-gotten profits from the sale of the Old Post Office in Washington, DC, a contract the judge says “was obtained through the use of false SFC (statements of financial condition).”

 

On those profits, he said Trump would have to pay interest dating to May 2022.

 

The judge also ruled that Trump and his companies were liable for $60 million in profits from the sale of Ferry Point in the Bronx and that on this part of the verdict, Trump would have to pay interest dating to June 2023.

 

The judge added that all of the prejudgment interest owed shall be at the rate of nine percent per annum, except where otherwise provided by statute.

 

 

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