Former President Donald Trump has been formally directed by a New York judge to pay $454.2 million as a result of being found liable for manipulating his net worth in a civil fraud case brought forth by the New York state's attorney general.
This order includes the $354.9 million penalty that Justice Arthur Engoron of the state court in Manhattan decreed on February 16, in addition to interest, following a non-jury trial spanning over three months.
Engoron further mandated Donald Trump Jr. and Eric Trump, Trump's adult sons, to each pay nearly $4.7 million, while Allen Weisselberg, the former chief financial officer of the Trump Organization, was instructed to pay $1.1 million, all-inclusive of interest.
The total sums to be paid amount to $464.6 million, a determination reached on Thursday. Over $114,000 in interest will continue accruing daily, primarily attributed to Donald Trump. The judgment was made public on Friday.
The Attorney General, Letitia James, accused the defendants of unlawfully inflating the value of Trump's properties to boost his net worth and secure more favorable loan and insurance terms.
Additionally, Engoron imposed a three-year ban on Trump from holding top positions in any New York company or seeking loans from state-registered banks. His adult sons were subjected to two-year bans on leadership roles.
The judge criticized the defendants for their "complete lack of contrition and remorse," remarking that it bordered on pathological.
Engoron's ruling poses a significant threat to the business empire Trump has painstakingly built over much of his adult life.
In addition to this civil case, the former Republican president faces four separate criminal prosecutions, in which he has pleaded not guilty, as he endeavors to reclaim the presidency from Democrat Joe Biden.
Trump has vehemently criticized James and Engoron, both Democrats, alleging corruption and framing the case as part of a broader witch hunt orchestrated by political adversaries.
He intends to appeal the penalty to the Appellate Division, a mid-level appeals court, although he must either pay the owed amount or secure a bond.
Engoron dismissed a request by Clifford Robert, the defendants' lawyer, to postpone the enforcement of the judgments by 30 days for the sake of facilitating "an orderly post-judgment process," citing the substantial nature of the judgment.
In response to Robert's request, Engoron asserted via email on Thursday morning that there was insufficient justification for a stay, expressing confidence in the Appellate Division's safeguarding of the defendants' appellate rights.
