A New York judge imposed a fine of 454 million dollars to former president of the United States Donald Trump for a fraud case related to the Trump Organizationas reported by CNN.
Judge Arthur Engoron He made the sentence public this Friday, a week after Trump and his sons Donald Trump Jr. and Eric Trump were found guilty in the civil process initiated by the attorney general of New York, Letita James. James celebrated the decision on his X social network account, formerly Twitter, and published: “Friday sentiment: no one is above the law”.
What Donald Trump should do if he wants to return to the White House
Trump, who aspires to return to the White House in the next presidential election, has 30 days to appeal the sentence since you receive it. Meanwhile, he must deposit $355 million as collateral and another $100 million as interest, either in cash or bonds.
Furthermore, the judge ordered the Trump’s children to return four million dollars each for illicit profits obtained by fraud. Finally, the judge prohibited the Trumps from holding positions in commercial companies in New York for several years. Trump announced that he will appeal.
The controversial Trump Organization
The Trump Organization is a company American who is dedicated to the management and development of properties and hotels in different countries around the world. It was founded by Donald Trump’s family, who passed control to his children when he took office. The Trump Organization is currently being investigated for alleged tax fraud and other irregularities by New York authorities.
The Trump Organization has a extensive luxury real estate portfoliowhich includes more than 15 residential and commercial properties in New York City, such as Trump Tower, Trump World Tower and the Trump Building. He also owns properties in other cities in the United States and abroad, such as the Mar-a-Lago residence in Florida, converted into an exclusive members’ club.
The businesses of the Trump Organization
In addition to real estate businesses, The Trump Organization also got involved in other sectors, such as golf, casinos, media, fashion, education and politics. However, some of these activities have generated controversies and lawsuitslike the case of Trump University, accused of defrauding thousands of students.
The fortune of Donald Trump, estimated at about 3.1 billion dollars by Forbes magazine in 2019, largely depends on the value of your real estate assets. For this reason, New York authorities suspect that Trump would have inflated the value of his properties to banks to obtain loans, but would have understated it to pay less taxes.
For this reason, New York Attorney GeneralLetitia James, and Manhattan District Attorney Cyrus Vance Jr., criminal investigations began against Trump Organization and its executives, including Trump and his sons Donald Trump Jr. and Eric Trump. If found guilty, they could face prison sentences and million-dollar fines. Trump denied the accusations and announced that he will appeal any sentence against him.
Source: Ambito
