A New York judge has ordered former US President Donald Trump to pay $354.9 million for misleading lenders about his net worth, adding to a legal challenge to a civil lawsuit that has had a major impact on his real estate empire.
In a ruling that ended a controversial three-month trial, Judge Arthur Engoron also banned Republican presidential hopeful Donald Trump from holding any leadership or directorship position in any New York company for three years.
Mr. Arthur Engoron also banned the former US President and the companies named in the lawsuit from applying for loans from any financial institution licensed in New York for 3 years, limiting Donald Trump's ability to receive credit from major banks in the US. Judge Engoron also affirmed that he would appoint an independent monitor and a director to oversee Mr. Trump's business activities.
Mr Trump has criticized the ruling. His lawyer, Alina Habba, said he will appeal. The lawsuit, filed by New York Attorney General Letitia James, alleges that Donald Trump and his family companies inflated his net worth by as much as $3.6 billion a year for more than a decade to deceive banks into offering better loan terms.
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