Donald trump must pay $354.9 million A New York judge ruled Friday on penalties for fraudulently exaggerating his wealth to defraud banks, handing the former US president another legal setback in a civil case that threatens his real estate empire.

Judge Arthur Engoron also banned Trump from serving as an officer or director of any New York company for three years.

Engoron rescinded his previous order from September ordering the “dissolution” of companies that control major elements of Trump’s real estate empire, saying Friday it was no longer necessary as he appointed an independent monitor and chief compliance officer to oversee Trump’s dealings. .

A New York prosecutor accuses Trump of inflating the value of his assets by up to $3.6 billion.

The lawsuit filed by the New York Attorney General Letitia James accused Trump and his family’s companies overestimates his net worth by $3.6 billion year for ten years to trick bankers into giving him better loan terms.

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Trump has denied any wrongdoing and called the case a political vendetta by James, an elected Democrat.

The Republican tycoon is expected to appeal Engoron’s sentence on Friday.

The civil fraud case could deal a blow to Trump’s real estate empire as the businessman-turned-politician leads the race for the Republican nomination to challenge Democratic President Joe Biden in the November 5 US election.

Friday’s verdict came after controversial three-month trial in Manhattan.

The verdict, highly anticipated by the US media, was delayed by more than a week as it was scheduled to be announced at the end of January.

The judge settled six charges related to the manipulation of asset figures in the Trump Organization’s financial documents to gain advantages over insurers and banks. (Reuters and EFE)