US judge orders Trump companies to pay $355-million in NY civil fraud case

US$5-million a jury awarded Ms. Carroll in a related trial last year.

In 2022, the Trump Organization was convicted of tax fraud and fined US$1.6-million in an unrelated criminal case for helping executives dodge taxes on extravagant perks such as Manhattan apartments and luxury cars.

Ms. James had asked the judge to impose a penalty of at least US$370-million.

Justice Engoron decided the case because neither side sought a jury and state law doesn’t allow for juries for this type of lawsuit.

Because it was civil, not criminal, the case did not carry the potential of prison time.

Ms. James, who campaigned for office as a Trump critic and watchdog, started scrutinizing his business practices in March, 2019 after his former personal lawyer Michael Cohen testified to Congress that Mr. Trump exaggerated his wealth on financial statements provided to Deutsche Bank while trying to obtain financing to buy the NFL’s Buffalo Bills.

 

 

 

Ms. James’ office previously sued Mr. Trump for misusing his own charitable foundation to further his political and business interests. Mr. Trump was ordered to pay US$2-million to an array of charities as a fine and the charity, the Trump Foundation, was shut down.

Mr. Trump incorporated the Trump Organization in New York in 1981. He still owns it, but he put his assets into a revocable trust and gave up his positions as the company’s director, president and chairman when he became president, leaving management of the company to Eric Trump and Donald Trump Jr.

Mr. Trump did not return to a stated leadership position upon leaving the White House in 2021, but his sons testified he’s been involved in some decision-making.

Justice Engoron had already appointed a monitor, retired federal judge Barbara Jones, to keep an eye on the company.

 

This article was reported by AP