Donald Trump is facing a lawsuit for fraud, with a jury verdict requiring him to pay $370 million in damages.
(Credit: Sky News)
Donald Trump Fraud Case: The corporate fraud civil trial against Donald Trump has concluded. Judge Arthur Engoron’s verdict in the lawsuit, which came just over a month after the last round of arguments, mandates that the former president pay $370 million in damages.
The $83.3 million that Trump has to pay in the defamation lawsuit against author E. Jean Carroll is in addition to the fine. While he continues to campaign for president in 2024, the former president is confronted with four additional significant legal issues.
We won our case against Donald Trump for years of amazing financial fraud to enrich himself, which was a huge triumph.
Trump often asserted that his financial statements were conservative in the context of the civil fraud trial and called the charges against him “politically motivated.”
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Forbes estimates that Trump is worth $2.6 billion. But Trump’s cash and liquid assets, which would likely be used for his legal payments, are only estimated to be worth $426 million. The billionaire’s finances would be severely harmed by the $370 million penalties in addition to the $83 million that Carroll must receive.
“It will take money to cover that kind of expense,” William Thomas, a professor at the University of Michigan Ross School of Business, stated. “Something has to be sold or realized.”
Their total absence of regret and repentance verges on the abnormal. In addition, Bernie Madoff is not Donald Trump. However, the defendants are unable to acknowledge their mistakes.
The front-runner in the Republican presidential contest says he has enough money. He claimed to have “substantially more than $400 million in cash” and that it was rising “very substantially each month” in a declaration made in connection with the civil fraud action. Any media outlet has not independently verified this statistic.
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