Updated Feb 16, 2024 - Politics & Policy

Judge orders $364M penalty in Trump's N.Y. civil fraud trial

NASHUA, NEW HAMPSHIRE - JANUARY 23: Republican presidential candidate and former U.S. President Donald Trump delivers remarks during his primary night rally at the Sheraton on January 23, 2024 in Nashua, New Hampshire

Former President Trump during a primary night rally on Jan. 23 in Nashua, New Hampshire. Photo: Chip Somodevilla/Getty Images

New York Judge Arthur Engoron ordered Friday that former President Trump, his companies and fellow defendants must pay nearly $364 million total in the civil fraud trial over his business practices.

Why it matters: The ruling deals a massive financial blow to the GOP presidential frontrunner after he was recently ordered to pay $83.3 million in a separate trial.

Details: Trump was also barred from running a business as an officer or director in New York for three years. The penalty breakdowns are as follows:

  • Trump and his various organizations: $354,868,768
  • Eric Trump: $4,013,024
  • Donald Trump, Jr.: $4,013,024
  • Allen Weisselberg: $1,000,000

Trump associates Weisselberg and Jeffrey McConney were also permanently prohibited from controlling the finances of any business operating in New York.

  • Eric Trump and Donald Trump, Jr. were banned from serving as officers or directors of New York corporations for two years.

Engoron ordered that a court-appointed independent monitor overseeing the Trump Organization's financial activity will continue to serve in the role for at least three years.

  • He also ordered the appointment of an independent director of compliance at the Trump Organization, "who shall be responsible for ensuring good financial and accounting practices." The Trump Organization will be responsible for compensating this position.

What they're saying: "We'll appeal, we'll be successful, I think, because frankly, if we're not successful, New York State is gone," Trump told reporters Friday from Mar-a-Lago.

  • Trump dubbed New York Attorney General Letitia James "totally corrupt," saying she "campaigned on the fact that 'I will get Trump, I will get Trump.'"
  • "This is Russia. This is China. This is the same game. It all comes out of the DOJ. It all comes out of Biden. It's a witch hunt against his political opponent, the likes of which our country has never seen before," he added.

The other side: "I want to be clear — white-color financial fraud is not a victimless crime," James said Friday after the ruling, noting that "Donald Trump's fraud is staggering" and "so, too, is his ego and his belief that the rules do not apply to him."

  • "We are holding him accountable for lying, cheating and a lack of contrition, for flouting the rules that all of us must play by because there cannot be different rules for different people in this country and former presidents are no exception," she added.

The big picture: James sought a $370 million penalty from Trump for allegedly committing decades of financial fraud. James also wanted to bar Trump and his two sons from being able to do business in New York ever again.

  • Engoron found Trump liable for financial fraud in September, so the trial was to determine what penalties the former president and his business empire would face.
  • "Their complete lack of contrition and remorse borders on pathological," the ruling said.

Zoom in: Trump, who lost a bid for a mistrial in the case, acknowledged during his testimony that he had some input on the financial statements at the center of the lawsuit.

  • James alleged that Trump and his business associates inflated his net worth by billions for more than a decade.
  • The judge imposed a gag order after the former president attacked a law clerk in a post on his Truth Social account. Trump was fined twice, totaling $15,000, for violations of that gag order.

State of play: The New York civil fraud trial is just one of several cases that Trump is facing as he seeks to clinch the Republican presidential nomination.

  • In frequent, voluntary appearances at the trial, he capitalized on the media attention to cast himself as the victim of politically motivated prosecutors.
  • The penalty imposed Friday comes after Trump was ordered in a separate trial to pay $83.3 million in damages to writer E. Jean Carroll for defaming her after she accused him of sexual assault.

Go deeper: What Trump stands to lose in his New York civil fraud trial

Editor's note: The headline on this story was corrected to reflect the civil penalty applied to Trump and his fellow defendants (not to Trump alone). It has been updated with additional details and developments.

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