Donald Trump To Pay Over $350 Million In Bank Fraud Penalty

A New York judge has slapped Donald Trump with a fine of over $350 million over an elaborate bank scheme.

On Friday, Trump learned this fate when Judge Arthur Engoron issued the stiff penalty. This concluded a more than two-month trial, which accused the former president of finessing banking institutions with financial statements that painted a picture of him as having more wealth than he actually did.  

New York Attorney General Letitia James sued the businessman turned politician over many deceptive practices, which he used to build his real estate portfolio made of various skyscrapers in New York and sprawling golf courses. She accused Trump of falsifying his wealth to obtain a variety of perks, including securing better rates on bank loans. The Republican presidential candidate allegedly exaggerated his wealth by as much as $3.6 billion in a single year, according to WSBTV.

Prior to the trial, there was more than enough evidence proving that Trump and his team doctored financial statements. However, the trial was the icing on the cake, with Judge Engoron demanding some of Trump’s corporations be shut down. In other cases, he must step down from having control over them.  

Additionally, Trump has been barred from operating businesses in New York for three years, which is a lenient punishment for his crimes.

In another of his many cases, Trump could face up to four years in prison if convicted in the Stormy Daniels hush money case. He is still battling the election interference case in Georgia. Trump has maintained his innocence and plans to appeal his New York fraud case verdict.