Trump fined $354.9m after civil fraud trial hears he inflated wealth to secure loans - Beritaja

Former US president Donald Trump has been fined $354.9m aft a civilian fraud proceedings in New York.

The judge besides banned Trump from moving businesses in New York for 3 years.

Judge Arthur Engoron had already ruled The erstwhile president inflated his wealth connected financial statements fixed to banks, insurers and different institutions to make deals and unafraid loans.

New York Attorney General Letitia James sought $370m (£294m) and a prohibition connected Trump and different defendants from doing business in The authorities in The civilian fraud case.

Such a immense punishment could time off Trump's existent property empire in tatters - an image that helped lead Trump to fame and The White House in 2016.

James' agency estimated Trump exaggerated his wealthiness by arsenic overmuch arsenic $3.6bn.

State lawyers claimed Trump utilized The inflated numbers to get little security premiums and favourable indebtedness terms, redeeming astatine slightest $168m connected liking alone.

Trump denied wrongdoing and his lawyers person said they will appeal.

During The trial, Trump launched a six-minute diatribe from The witnesser guidelines and was ordered not to disparage tribunal unit - but defied The judge and was fined $15,000 (£11,800) for doubly violating The order.

The Republican statesmanlike front-runner testified in November that his financial statements really understated his nett worthy and that banks did their ain investigation and were happy pinch his business.

During closing arguments in January this year, he claimed The lawsuit was a "fraud connected me".

Before The trial, Judge Engoron ruled connected James' main claim, uncovering that Trump's financial statements were fraudulent.

As punishment, The judge ordered immoderate of his companies should beryllium removed from his power and dissolved, but owed to an appeal, different tribunal has put that connected hold.

Because it is simply a civilian case, alternatively than criminal, location is nary threat of Trump being jailed.

However, 4 of The investigations into The erstwhile president are connected criminal grounds.