FLASH
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The civil court in New York has fined former US President Donald Trump and his two sons Donald Jr. and Eric 354 million euros on charges of financial fraud by inflating the value of the assets of their family company in order to benefit from better terms. favorable from banks and insurance companies.
Foreign media write that in addition to fines of 354 million dollars, Donald Trump was banned for three years from doing business in New York or holding high positions in any company in the area for inflating the assets of his family holding company to get better terms from banks and insurance companies.
Alina Habba, his lawyer, said after the hearing that the decision was a "clear, plain and simple injustice".
She said in a statement: " It is the culmination of a years-long, politically motivated witch hunt designed to 'dismantle Donald Trump' before Letitia James ever set foot in the Attorney General's office ."
Habba added: " Given the heavy stakes, we believe the Appellate Division will overturn this appalling decision and put an end to this relentless persecution of my clients.
Let me make one thing perfectly clear: this is not just about Donald Trump, if this decision stands, it will serve as a signal to every American that New York is no longer open for business ."
New York Attorney General Letitia James sought $370 million (£294 million) and a ban on Trump and other defendants from doing business in the state in the civil fraud case.
Such a large sentence could now ruin Trump's real estate empire, an image that helped propel him to fame and the White House in 2016.
Recall that Trump testified in November that his financial statements understated his net worth and that the banks did their due diligence and were satisfied with his business.
During closing arguments in January this year, he claimed the case was a "fraud against him".
Before the trial, Judge Engoron ruled on James' main claim, finding that Trump's financial statements were misleading.
As punishment, the judge ordered some of his companies to be taken out of control and dissolved, but due to an appeal, another court put that on hold.
Because it's a civil case, not a criminal one, there was no threat of Trump being jailed.
However, four of the investigations into the former president are on criminal grounds.
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