Trump’s Bank Fraud Trial Ends With $372 Million Gut Punch
Donald Trump’s wealth was decimated on Friday when a New York judge ordered him and his lieutenants to pay more than $372 million for engaging in bank fraud, simultaneously yanking away the family’s control of his eponymous real estate company.
Importantly, New York Supreme Court Justice Arthur F. Engoron also blocked Trump from borrowing money at any bank in New York for three years, erecting an enormous barrier to his ability to appeal the judgment, potentially forcing him to sell one of his prized buildings or golf courses.
A towering 9 percent interest rate on the judgment could push the total well past $400 million, presenting Trump with the worst personal financial crisis in his 77 years, just as he fends off four criminal cases and seeks the American presidency in 2024.