The former President of the United States, Donald Trump, is to pay the sum of $10,000 every day after being held in contempt of court for refusing to take part in an investigation into the financial dealings of the Trump Organisation.
In a bench ruling on Monday at the New York State Supreme Court, Judge Arthur Engoron said Trump must pay the $10,000 per day for every day he continues to refuse to provide documents to aid the investigations.
Engoron ruled there was no evidence that Trump had conducted a “proper, thorough search” for items that might be relevant to an earlier subpoena, and said that what his attorney offered as evidence of compliance was “woefully insufficient.”
Addressing Trump, who was not in court, Engoron said:
“I know you to take your business seriously, and I take mine seriously,” before imposing the daily fine of $10,000 until Trump is “fully compliant or offers sufficient proof he has nothing more to turn over.”
The New York AG’s office had requested the documents as part of its civil investigation into how the Trump Organization valued its real estate holdings while applying for loans and tax benefits.
“Today, justice prevailed,” New York Attorney General Letitia James tweeted. “Our investigation into Donald Trump and the Trump Organisation’s financial dealings will continue undeterred because no one is above the law.”
Earlier this month, James had argued in court papers that Trump should be fined “a sum sufficient to coerce his compliance” after he missed a March 31 court-imposed deadline to turn over the documents.
James said her investigation into Trump’s business practices has revealed evidence that he allegedly misstated the value of assets like golf courses and skyscrapers on his financial statements for over a decade.
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