Donald Trump sentenced to pay a fine of $350 million for civil fraud case in New York, will not be able to conduct businesses in the state

The former president is banned from operating in the state for the next three years. His two oldest sons were also banned and sentenced to pay fines.

Judge Arthur Engoron of the Manhattan Supreme Court sentenced former President Donald Trump to pay a $350 million fine for the civil fraud case in New York led by prosecutor Letitia James.

In addition to the fine, Trump received another blow in the sentence: he will not be able to operate businesses in the state of New York, where he became famous by amassing a great fortune, for the next three years.

Trump convicted in New York for fraud by emmanuel.rondon on Scribd

His real estate empire is now in serious danger, reported The New York Post.

The sentence against Trump comes after a three-month trial where it was determined that the Republican leader inflated his net worth by billions to deceive banks and insurers over a decade.

Trump's defense already announced this Friday that the former president will appeal the decision. However, experts agree that it is very difficult to reverse the ruling.

If Trump is unsuccessful in the appeal, he could be stripped of control over Trump Tower in Midtown and his other iconic properties in New York, various media reported.

In addition to the former president, Judge Engoron’s ruling also affected Trump's two oldest sons, Donald Jr. and Eric, who will also not be able to operate businesses in New York for two years. In addition, he ordered them to pay $4 million in fines.

The new ruling also means a new financial blow for Trump, who weeks ago received another ruling against him by a jury that ordered him to pay $83.3 million in a defamation damages case in Manhattan federal court.

Likewise, other former top executives of the Trump Organization were also prohibited from “serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years.”