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Judge orders Trump to pay $355 million for lying about his wealth in staggering civil fraud ruling

A New York civil fraud case has ordered former US President Donald Trump and his companies to pay close to $355 million.

Judge Arthur Engoron of New York, who oversaw the case, also mandated that Trump pay millions of dollars in interest on the money.

The court imposed several other limits, including a three-year ban on Trump’s ability to serve as an officer or director of any business or other legal body in the state that is based in New York.

The interest may raise Trump’s liability by around $100 million, according to CNN.

The judge broke down the $354,868,678 in disgorgement into three parts, one of which is that the the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount.

According to the judge, the former president would have to pay interest dating to March 2019 for those ill-gotten gains.

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Engoron also ruled that Trump and his companies were liable for over $126 million in ill-gotten profits from the sale of the Old Post Office in Washington, DC, a contract the judge says “was obtained through the use of false SFC (statements of financial condition).”

On those profits, he said Trump would have to pay interest dating to May 2022.

The judge also ruled that Trump and his companies were liable for $60 million in profits from the sale of Ferry Point in the Bronx and that on this part of the verdict, Trump would have to pay interest dating to June 2023.

The judge added that all of the prejudgment interest owed shall be at the rate of nine percent per annum, except where otherwise provided by statute.

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