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Introduction
Former president Donald Trump's extensive fraud lawsuit has concluded, the Judge Arthur Engoron decided on fining him an outstanding amount of $450 million for inflating his assets lying to obtain more advantageous loans. In addition to that, Trump's children, Eric and Donald Jr., have been fined for their helping hand in aiding Trump in fraudulent practices related to the business.
What role did Donald Trump's children have in the fraud lawsuit?
Donald Trump Jr. and Eric Trump faced allegations of hlping their dad in the unethical inflating of his assets and their properties' worth in financial documents. This was done to secure benefits such as tax advantages and improved bank loan terms.
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Although Trump daughter Ivanka left her family business in 2017 and was initially included in the lawsuit, she has later been dismissed from the case in June because of the statute of limitations for many of the allegations against her. However, in recent developments, Judge Engoron has instructed her to provide testimony as a witness against her dad and brothers. According to James, Ivanka played a significant role as a "point of contact" and negotiator with Deutsche Bank for three loans, which are central to James' investigation.
Donald made remarks about Judge Engoron, calling him "an embarrassment to the legal field."
Since leaving his presidency in 2020, the 45th president has been in-and-out of courts, with the most recent being a fraud lawsuit filed by New York Attorney General Letitia James. While Trump is used to courtroom proceedings, it is now his children's turn to provide testimony. The former president strongly believes that their testimony is not really necessary.
In a Truth Social post, Trump urged Judge Engoron to refrain from targeting his children, asserting, "you are a disgrace to the legal profession!" He labeled the lawsuit a "Rigged Trial," accused Attorney General Letitia James of being "Racist," and insisted that the "Fake Case" be dismissed. Trump emphasized that there is no victim except himself.
A judge has concluded that Trump must pay over $450 million as a massive fraud lawsuit has reached its conclusion - preceeded story.
After proceedings in court, Judge Engoron has finally convicted Donald Trump of fraud and ordered he pays fine of $450 million as a consequence. The judge decided the damages amount to $354 million resulted by fraudulent activities across Trumps properties. In addition to this, accrued interest from various points added approximately $100 million more to the total sum, resulting to a total of $450 million.
The judge decided to fine Trump's sons, Eric and Don Jr., to each pay $4 million, while the former chief financial officer for the company, Allen Weisselberg, was ordered to pay $1 million. These amounts very tiny when comparered to Donald Trump's bill. Furtherly, New York Attorney General Letitia James, whose office initiated the case, stated that the amount "will continue to increase every single day" until the bill is fully paid.
In her statement, Letitia James expresses that Trump is now being confronted by accountability for his deceitful actions, characterized by lying, cheating, and significant fraud. She says that regardless of one's perceived status, wealth, or influence, no person is exempt from the law.
Donald Trump has responded to the $450 million fine on his social media platform, Truth Social.
Trump's response to the $450 million fine was typical him, stating that, "We'll appeal, and we'll be successful."
Later, on Truth Social, he offered further reactions: "This is an election interference, and it must be immediately stopped. I should not have to go through any fake prosecutions before the election. This is communism, and a threat to democracy. Our country will not stand for it," he wrote in all caps.
He stated in another post, "My financial statements were understated, not overstated!" He then continued by alleging that this situation aligned with the fabricated narrative perpetuated by the allegedly biased judge and the attorney general, whom he described as a Soros-backed individual from the radical left. Trump asserted that their primary objective, in close coordination with the White House, is to target him, akin to previous litigations, framing it as an attack on his political opponent, Joe Biden. Like his previous post, this message was also written in all caps.
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