by Jonathan Stempel
NEW YORK (Reuters) – Donald Trump was ordered to pay $454.2 million (419.86 million euros) after being found responsible for exaggerating his wealth in order to deceive bankers and obtain loans from more favorable conditions.
The payment includes the $354.9 million fine decided by Manhattan State Court Judge Arthur Engoron on Feb. 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 directorships in any company headquartered in New York.
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The judge also ordered the ex-president’s sons, Donald Trump Jr. and Eric Trump, to each pay nearly $4.7 million. Former Trump Organization CFO Allen Weisselberg must pay him $1.1 million, including interest.
The total amount of 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, mostly for Donald Trump.
According to the accusation brought by prosecutor Letitia James, Donald Trump exaggerated his fortune, up to $3.6 billion per year for a decade, to deceive his bankers.
This judgment threatens Donald Trump’s real estate empire a few months before the presidential election in the United States during which he should try to regain the White House against outgoing Democratic President Joe Biden.
Donald Trump plans to appeal the decision, however he will have to place the requested amount in escrow.
Judge Arthur Engoron rejected a request from Donald Trump’s lawyer, Clifford Robert, to delay the execution of the judgments by 30 days.
(Reporting Jonathan Stempel in New York; French version Kate Entringer)
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