According to reports from American media, on the 16th local time, former US President Trump was fined over $350 million for exaggerating his net worth and constituting fraud.
According to reports, a New York judge stated that Trump obtained favorable interest rates from banks and insurance companies by exaggerating his net assets for about 10 years.
The judge also ruled that Trump will be prohibited from holding senior positions in any New York company for three years, and a two-year ban will be imposed on Trump's two sons, Donald Trump Jr. and Eric Trump.
According to NBC, the ruling also prohibits Trump and his company from applying for any bank loans within three years.
New York State Attorney General James stated that with pre judgment interest added, the total amount of fines will exceed $450 million, and will continue to increase every day until the fines are paid.
The New York judge wrote in the ruling that Trump was "completely lacking in remorse" and "accused of exaggerating asset values to earn more money. The relevant documents have repeatedly proven this."
NBC stated that this decision may potentially have a financial and personal impact on Trump, who is running for president - during his first presidential campaign, Trump used his image as a successful businessman.
Trump stated on the same day that he would appeal, calling this decision a "complete scam" and stating that the judicial system has political bias against him. That night, he gave a speech at the Haihu Manor, attacking the judges and prosecutors involved in this case for being corrupt.