Trump must pay $354.9 Million, 3-year ban

Donald Trump has been ordered to pay $354.9 million in penalties for fraudulently inflating his net worth to deceive lenders, as ruled by a New York judge on Friday. This decision represents another legal setback for the former U.S. president in a civil case that poses a threat to his real estate empire.

Justice Arthur Engoron, delivering a strongly worded decision following a contentious three-month trial in Manhattan, also imposed a three-year ban on Trump, who is seeking to reclaim the presidency this year, prohibiting him from serving as an officer or director of any New York corporation. Trump's lawyer, Alina Habba, has vowed to appeal.

Engoron reversed his previous ruling from September, which had ordered the "dissolution" of companies controlling key elements of Trump's real estate holdings. Instead, he announced the appointment of an independent monitor and compliance director to oversee Trump's businesses, deeming dissolution unnecessary.

In his ruling, Engoron criticized Trump and the other defendants, stating they "are incapable of admitting the error of their ways." He described their lack of contrition and remorse as bordering on pathological, noting their refusal to acknowledge wrongdoing despite evidence to the contrary.

The lawsuit, brought by New York Attorney General Letitia James, alleged that Trump and his family businesses had overstated his net worth by as much as $3.6 billion annually over a decade to secure more favorable loan terms from banks. Trump, facing criminal charges in four other cases, has dismissed the lawsuit as a politically motivated attack by James, a Democrat.