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Trump ordered to pay $355m for lying about his wealth in staggering civil fraud ruling

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Trump ordered to pay $355m for lying about his wealth in staggering civil fraud ruling
 • Ex-US President Trump
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A New York judge ordered Donald Trump on Friday to pay $355 million in penalties, finding that the former president lied about his wealth for years in a sweeping civil fraud verdict that pierces his billionaire image but stops short of putting his real estate empire out of business.

Judge Arthur Engoron’s decision after a trial in New York Attorney General Letitia James’ lawsuit punishes Trump, his company and executives, including his two eldest sons, for scheming to dupe banks, insurers and others by inflating his wealth on financial statements. It forces a shakeup at the top of his Trump Organization, putting the company under court supervision and curtailing how it does business.

The decision is a staggering setback for the Republican presidential front-runner, the latest and costliest consequence of his recent legal troubles. The magnitude of the verdict on top of penalties in other cases could dramatically dent Trump’s financial resources and damage his identity as a savvy businessman who parlayed his fame as a real estate developer into reality TV stardom and the presidency. He has vowed to appeal and won’t have to pay immediately.

Trump’s true punishment could be far costlier because under state law he is also required to pay interest on the penalties, which James said puts him on the hook for a total of more than $450 million. The amount, which would be paid to the state, will grow until he pays.

The judge made clear, however, that the Trump Organization will continue to operate, backing away from an earlier ruling that would have dissolved Trump’s companies.

Engoron, a Democrat, concluded that Trump and his company were “likely to continue their fraudulent ways” without the penalties and controls he imposed. Engoron concluded that Trump and his co-defendants “failed to accept responsibility” and that experts who testified on his behalf “simply denied reality.”

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“This is a venial sin, not a mortal sin,” Engoron wrote in a searing 92-page opinion. “They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways.”

He said their “complete lack of contrition and remorse borders on pathological” and “the frauds found here leap off the page and shock the conscience.”

Trump said the decision was “election inference” and “weaponization against a political opponent,” complaining to reporters at his Mar-a-Lago estate in Florida that he was being penalized for “having built a perfect company, great cash, great buildings, great everything.”

James, a Democrat, told reporters “justice has been served” and called the ruling “a tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules — even former presidents.”

“Now, Donald Trump is finally facing accountability for his lying, cheating, and staggering fraud. Because no matter how big, rich or powerful you think you are, no one is above the law,” James said.

Trump still owns the Trump Organization, but he put his assets into a revocable trust and relinquished a leadership role when he became president in 2017, putting his sons Eric and Donald Trump Jr. in charge of day-to-day operations. Engoron’s ruling imposes a three-year ban on Trump serving as an officer or director of any New York company and bars his sons for two years, effectively requiring the company to find new leadership, at least temporarily.

The monetary penalties involve what Engoron said were “ill-gotten gains” that Trump attained by making himself seem richer. They include money Trump saved by securing lower loan interest rates and profits from the sale of properties that he might not have been able to develop without that financing.

AP

International

Thousands begin journey home from Morocco border with Spain

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Spanish soldiers watch migrants sitting on the pavement prior to escorting them back to Morocco, in Spain’s north Africa’s Ceuta enclave on August 1, 2026. At least 67 people have died in a recent surge of migrant crossings from Morocco to Spain’s North African enclave of Ceuta, Spain’s Interior Minister said today. Most of the 60,000 migrants who entered Ceuta over the space of a few days from neighbouring Morocco have already returned to Morocco. (Photo by JORGE GUERRERO / AFP)
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Thousands of people turned back from the Spanish enclave of Ceuta and returned to Morocco’s Fnideq began boarding buses home on Friday, with the operation continuing on Saturday, according to AFP journalists at the scene.

A Moroccan source close to the operation told AFP on condition of anonymity that the people sent back by Spain are to be transported home directly by bus or via the railway station in Tangier, 70 kilometres (45 miles) away.

According to the source, the Fnideq border crossing is now “completely secure”, as are the hills overlooking it, from which hundreds of people, mostly young men, had thrown stones at security forces on Friday.

The Spanish government announced on Friday evening that at least 48,000 of the 60,000 people who entered Ceuta in recent days had returned to Morocco.

Late Friday, AFP journalists saw around twenty 54-person-capacity buses depart, for a total of about a thousand people.

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Fnideq is a small town of just 70,000 inhabitants, roughly equivalent to the population of the enclave of Ceuta, one of Spain’s two North African enclaves.

The buses were headed for Tangier, Tetouan, or the economic capital Casablanca, all equipped with rail facilities to redirect people who had come from as far away as Marrakech, more than 500 kilometres to the south.

“I heard that buses had arrived to take us back home. Honestly, I just want to see my children again. I regret having come all the way here,” said Rachid Aouchari, 32, from Ksar el Kebir, 170 kilometres from Fnideq, who was turned back from Ceuta during the night from Thursday to Friday.

Until midday Friday, clashes had pitted the security forces against migrants seeking to cross into Spain, either by swimming or on foot along a narrow wall leading to the Ceuta crossing point.

Police responded with water cannons and tear gas against hundreds of young men, arresting dozens of them, according to an AFP journalist.

AFP

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US Military F-35B fighter jet crashes, burns

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A fighter jet crashed and erupted into flames at Marine Corps Air Station Miramar in California on Friday, sending smoke billowing into the sky that could be seen from miles away.

The single-seat F-35B Lightning II aircraft from Marine Aircraft Group 11, 3rd Marine Aircraft Wing, went down short of the runway just before 10 a.m. PT.

“The pilot ejected (and) was transported to a local medical facility in stable condition for evaluation and treatment of non-life-threatening injuries,” according to a statement from the wing.

Airport fire crews sprayed the wreckage with firefighting foam and worked to extinguish a grass fire surrounding the crash site.

“F-35 short final crash,” the Miramar air traffic control tower told firefighters in audio recorded by LiveATC.net. “It appeared that the parachute did deploy … and a pilot ejected.”

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The cause of the crash was not immediately clear. Military plane crashes are typically investigated by the military as opposed to civilian crashes which are investigated by the National Transportation Safety Board.

Billed as “the most advanced jet fighter in the world” by its manufacturer, the F-35B is a stealth aircraft that can land like a conventional plane, or vertically, similar to a helicopter. The more than 50-foot-long jet is operated by the US Marines, the United Kingdom and the Italian Air Force. The planes cost about $102 million each, according to the manufacturer.

About 15,000 service members from all branches of the military are based at Marine Corps Air Station Miramar, located in San Diego. (CNN)

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India’s Education Minister resigns

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India’s Education Minister, Dharmendra Pradhan
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India’s Education Minister, Dharmendra Pradhan, has resigned following days of youth-led demonstrations demanding sweeping reforms to the country’s education system.

Thousands of young people had taken to the streets of New Delhi and other parts of the country under the banner of the social media-driven Cockroach Janta Party, mounting pressure on the government to address their demands and remove Pradhan from office.

The protests, which were largely centred around the Jantar Mantar demonstration site in central New Delhi, intensified during the week as demonstrators attempted to march towards parliament.

Police fired tear gas and used batons against some protesters during the demonstrations.

Announcing his decision, Pradhan said the unrest witnessed over the previous 10 days had caused him concern, stressing that remaining in office was not a matter of personal prestige.

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“I am pained to see the events of the past 10 days. This is not a matter of personal prestige for me,” Pradhan said in a statement posted on X.

The minister subsequently confirmed that he had submitted his resignation to the Prime Minister.

“I have sent my resignation letter to the prime minister,” he said in the letter written in Hindi.

Pradhan also acknowledged the importance of young people to India’s development, pledging that their concerns should not be ignored.

“India’s youth power is the real strength of this nation. My resolve is that we will not let the country’s youth get trapped in a vicious cycle of confusion,” he added.

The Indian government had opened negotiations with leaders of the CJP in an attempt to end the demonstrations.

Two rounds of talks were held on Monday and Friday, but the initial negotiations reportedly failed to produce significant progress as the youth-led movement insisted that its demands must be addressed.

The protesters had demanded reforms to the education system alongside Pradhan’s resignation.

The minister announced his resignation ahead of a planned third round of negotiations between government representatives and the protest leaders.

Following Pradhan’s resignation, the CJP announced that its demands had been met after another round of discussions with the government.

The group subsequently called off the protests at Jantar Mantar and other locations.

The demonstrations had attracted thousands of young Indians and gained momentum through social media, putting the government under mounting pressure over the country’s education system.

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