Trump barred from operating business, ordered to pay over $350 million in NY civil fraud case

New York judge Arthur Engoron handed down a ruling in former President Donald Trump's civil fraud case on Wednesday.

Former U.S. President Donald Trump gestures to the crowd at a campaign event on July 1, 2023 in Pickens, South Carolina. (Sean Rayford/Getty Images)

"There was never an option to choose a jury trial," a Trump spokesperson told Fox News Digital last month. "It is unfortunate that a jury won’t be able to hear how absurd the merits of this case are and conclude no wrongdoing ever happened."

TRUMP'S GAG ORDER CHALLENGE IN NEW YORK AG LETITIA JAMES' CIVIL SUIT REJECTED

Trump and his family denied any wrongdoing, with the former president saying his assets had been undervalued. Trump's legal team insisted that his financial statements had disclaimers, and made it clear to banks that they should conduct their own assessments.

Trump has said his financial statements were "perfect," and stressed that the bank loans were repaid and are "as happy as can be."  

Throughout the trial, Trump attorneys brought witnesses, including former Deutsche Bank top executives, who testified the banks sought additional business from Trump, who they viewed as a "whale of a client."

Trump's defense also brought in expert witnesses, including New York University accounting professor Eli Bartov, who reviewed the Trump financial statements at issue in the case and said he found no evidence of accounting fraud.

New York Attorney General Letitia James brought the case forward accusing Trump and his company, the Trump Organization, of fraudulent business practices. (AP Photo/Brittainy Newman)

Trump and his team have pointed to James’ comments to supporters as she ran for her position.

"We’re definitely gonna sue him, we’re gonna be a real pain in the a--," James once told a supporter on video.

James also once said Trump was an "existential threat," and said "the No. 1 issue in this country is defeating Donald Trump."

"Nothing else matters," James said.

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In September, Engoron ruled that Trump and the Trump Organization had committed fraud while building his real estate empire by deceiving banks, insurers and others by overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing financing.

"He ruled against me without knowing anything about me," Trump said on the stand during the trial last year. "He called me a fraud, and he didn’t know anything about me."

Engoron's ruling comes weeks after Trump was ordered to pay over $83 million in a defamation case brought by writer E. Jean Carroll, who accused Trump of sexual assault.

Brooke Singman is a political correspondent and reporter for Fox News Digital, Fox News Channel and FOX Business.

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https://www.foxnews.com/politics/judge-engoron-hands-decision-trump-new-york-civil-fraud-case