NEW YORK, NY — Former President Donald Trump must pay $354 million for fraudulent business practices, Judge Arthur Engoron ruled Friday.
Trump's sons Donald Trump Jr. and Eric Trump have been fined $4 million apiece, and former Trump Organization CFO has been fined $1 million.
The decision bars Trump barred from being an officer of a New York company for three years, and bars his sons for two years apiece.
Regarding the dissolution of Trump's companies, the decision says, "This Court hereby modifies its September 26, 2023, Decision and Order solely to the extent of removing the language ordering the LLCs cancellation en masse. The restructuring and potential dissolution of any LLCs shall be subject to individual review by the Court appointed Independent Director of Compliance in consultation with Judge Jones."
In his decision, Engoron wrote that "Defendants’ refusal to admit error -- indeed, to continue it, according to the Independent Monitor -- constrains this Court to conclude that they will engage in it going forward unless judicially restrained."
"Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial," the judge wrote. "His refusal to answer the questions directly, or in some cases, at all, severely compromised his credibility."
The judge added, "They are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin."
"Defendants did not commit murder or arson," the judge wrote. "They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a 'See no evil, hear no evil, speak no evil' posture that the evidence belies."
On top of the fine, the judge vacated his September order canceling the defendants’ business certificates, instead ordering an independent monitor to oversee the Trump Organization for at least three years. He also ordered an Independent Director of Compliance be installed at the company.
Engoron's decision follows an 11-week civil trial in New York, where Trump and three of his adult children testified.
New York Attorney General Letitia James sued Trump, his two adult sons, and Trump Organization executives in September 2022 for issuing fraudulent financial statements -- including over 200 false and misleading asset values between 2011 and 2021 -- to get better loan terms and business deals.
Trump spoke Friday night about the ruling. Watch that video in the player below: