The civil fraud case against Trump was brought by New York Attorney General Letitia James for allegedly lying about the value of Trump properties, for which James sought $370 million in fines and to ban Trump from the New York State real estate industry. Trump has repeatedly denied any wrongdoing in the case.
Moreover, US Judge Arthur Engoron ordered that defendants Donald Trump, Allen Weisselberg, and Jeffrey McConney are prohibited from serving as an officer or director of any New York corporation or other legal entity in New York for three years. Engoron also banned Trump and the Trump organization from applying for loans from any New York-chartered financial institution for three years.
Aside from the punishments, Engoron removed the order that Trump's companies must be dissolved.
Trump’s attorney Alina Habba called the ruling a “manifest injustice” and added that, “given the grave stakes” of the case, Trump’s legal team plans to appeal it.
“It is the culmination of a multi-year, politically fueled witch hunt that was designed to 'take down Donald Trump,' before Letitia James ever stepped foot into the [New York State] Attorney General's office," Habba said in a statement to CNN.