Trump banned from running his own businesses — RT World News

The former US president was banned from running his companies in New York and ordered to pay $354 million in fines

A New York judge has temporarily barred former US President Donald Trump from operating businesses in the state and ordered him and his organization to pay $354 million in fraud damages for filing false business reports.

Friday's civil court ruling by Judge Arthur Engoron includes a three-year ban on Trump serving as an officer or director of any New York corporation, including the Trump Organization. Trump and his company have also been banned from applying for any bank loans in New York. Financial damages were imposed on the former president and other Trump Organization executives, including his two eldest sons.

Trump and his business partners have been accused of using inflated asset valuations to obtain favorable terms on loans and insurance policies. In his ruling, Engoron acknowledged that all the loans in question were repaid in full and on time, but said the victim was absent “It does not mitigate the damage that false statements do to the market.” he added, “The next group of lenders to receive false statements may not be so lucky.”

The judge also ordered the appointment of an independent director to monitor the Trump Organization's compliance with his ruling. Engoron claimed that Trump and his associates showed A “Satisfying” Lack of remorse and are likely to continue operating fraudulently unless they are “Judicially seized.”

The civil fraud ruling represents the latest legal setback for Trump as he polls as the leading Republican presidential candidate. He faces four separate criminal indictments, as well as multiple civil cases. Just last month, a New York jury ordered him to pay $83 million in damages to writer E. Jane Carroll, who claimed he defamed her when he denied her allegations that he sexually assaulted her in a department store nearly 30 years ago.

Trump's lawyer, Alina Haba, described Engoron's ruling as a… “The apparent injustice.” She said she was confident it would be overturned on appeal. The former president claimed that the case was due to President Joe Biden's efforts to block his political rival. “This election interference and abuse of authoritarian power by a crooked judge and a crooked prosecutor cannot be tolerated.”

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