Donald Trump suffered a major defeat in a civil fraud case on Friday (February 16). A New York judge fined him more than $350 million and banned the former president from serving as a director or officer of any New York corporation for three years.
Judge Arthur Engoron handed down the harsh punishment at the end of a three-month trial. Trump was found liable of conspiring to inflate his net worth to deceive banks and others.
Trump’s lawyer Alina Habba claimed the judge’s decision was the culmination of a witch hunt. Habba planned to appeal the ruling.
“This is not just about Donald Trump,” the attorney said. “If this decision stands, it will serve as a signal to every single American that New York is no longer open for business.”
Judge Engoron cited Trump’s refusal to admit error in the ruling. The judge determined the court needed to fine and ban Trump because the former president would continue to exploit the system otherwise.
“This Court is not constituted to judge morality; it is constituted to find facts and apply the law,” the judge wrote. “In this particular case, in applying the law to the facts, the Court intends to protect the integrity of the financial marketplace and, thus, the public as a whole. Defendants’ refusal to admit error—indeed, to continue it, according to the Independent Monitor—constrains this Court to conclude that they will engage in it going forward unless judicially restrained. Indeed, Donald Trump testified that, even today, he does not believe the Trump Organization needed to make any changes based on the facts that came out during this trial.”
Trump suffered the legal loss while running for president. The twice-impeached politician also faced four criminal cases. He was indicted in two election interference cases, a classified documents case and a hush money case.