A judge in New York fined Trump and his associates for being guilty of intentional financial fraud.
Judge: “The defendants failed to accept responsibility or to impose internal controls to prevent future recurrences.”
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 north of $450 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.
Trump is likely to appeal the ruling.
