A judgment has been entered in the fraud case against former President Donald Trump, starting the clock on a $454 million penalty that he has been ordered to pay. The case, which dates back to 2018, involves allegations that Trump and his children misled investors in a marketing scheme for a multi-level marketing company called ACN.
The judgment was entered by New York State Supreme Court Justice Arthur Engoron, who found Trump liable for making false and misleading statements to investors about the financial health of ACN. The judge also found that Trump had violated state business laws by promoting the company without disclosing that he was being paid to do so.
The $454 million penalty includes $43 million in restitution to investors who were defrauded by Trump and his children, as well as $410 million in civil penalties. The judgment also prohibits Trump from serving as an officer or director of a public company in New York for 10 years.
Trump has denied any wrongdoing and has vowed to appeal the judgment. His legal team has argued that the case is politically motivated and that the judgment is an attempt to silence him.
The judgment comes at a time when Trump is facing multiple legal challenges, including investigations into his business practices and tax returns. It also adds to the mounting legal and financial pressures facing the former president, who has seen his business empire suffer in the wake of his presidency.
The case serves as a reminder of the potential consequences of fraudulent business practices and the importance of transparency and honesty in financial dealings. It also highlights the power of the legal system to hold even the most powerful individuals accountable for their actions.
As the clock starts ticking on the $454 million penalty, Trump will have to decide whether to accept the judgment or continue to fight it in court. Either way, the case is likely to have lasting implications for his reputation and financial future.
