Trump Hit With $350 Million Penalty in Fraud Trial

Former President Ordered to Pay Massive Fine

Case Centers on Mar-a-Lago Valuation

A Manhattan judge has issued former President Donald Trump with a more than $350 million penalty in the verdict of his fraud trial. The suit, brought by New York Attorney General Letitia James, alleges that Trump and the Trump Organization misled lenders and insurers about the value of Mar-a-Lago, their Palm Beach resort.

According to the suit, between 2011 and 2021, the Trump Organization assigned to Mar-a-Lago a value that topped out at $739 million. James's lawsuit said that Mar-a-Lago was valued as high as $739 million, a claim that was based on the false premise that it was unrestrictedly developable for residential use.

The judge's verdict found that Trump and the Trump Organization had engaged in a pattern of fraud and misrepresentation. The penalty includes $250 million in restitution to victims and $100 million in civil penalties.

Trump has denied any wrongdoing and has vowed to appeal the verdict. The case is likely to continue through the courts for several more years.