Former U.S. President, Donald Trump, and his eldest
sons and business associates, have been ordered to pay over $350m by a New York
judge who found them guilty of intentionally committing financial fraud over
the course of a decade.
Judge Arthur Engoron, barred Trump and two other executives from serving as officers or directors of any corporation or entity in New York for three years. In his decision, Jude Engoron, said:
"fact and expert witnesses simply denied reality, and defendants failed to accept responsibility or to impose internal controls to prevent future recurrences" adding, the defendants "complete lack of contrition and remorse borders on pathological."
The hefty fine comes on top of an $83.3m judgement against the former president in a defamation suit by the writer E. Jean Carroll. It's doubtful whether Trump is wealthy enough to pay the fine or defamation judgement.
Yet, the New York judgement, is likely to improve Trump's prospects of winning the Republican primaries. Although Trump was found to have inflated his assets for the purposes of obtaining loans, he devalued his assets for the purpose of taxation.
Trump always denies wrongdoing and claims he's the victim of a political witch-hunt. Unfortunately, many stupid Americans tend to agree with him and fall for Trumps lies and demagoguery. They see Trump, a property speculator, as a kind of Messiah of the rust belt and a champion of the ordinary American workingman.
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