Trump hit with $354.9 million penalty in civil fraud case

STORY: A New York judge on Friday ordered Donald Trump to pay $354.9 million in penalties for duping and defrauding lenders for more than a decade.

Capping off the massive civil fines, Justice Arthur Engoron also banned Trump from serving as an officer or director of any New York corporation for three years.

The massive penalty is the result of a civil lawsuit against Trump brought by New York Attorney General Letitia James, who accused the former president and his family business of falsely inflating his net worth by billions of dollars in order to fool bankers into lending him money at lower rates.

DONALD TRUMP: "This is a witch hunt the likes of which probably nobody has ever seen."

Trump has denied wrongdoing and called the case a political vendetta by James, an elected Democrat. Trump is expected to appeal Friday's ruling by Engoron.

The civil fraud case could deal a major 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 Nov. 5 U.S. election.

Friday's ruling came after a contentious three-month trial in a Manhattan courtroom.

During defiant and meandering testimony in November, Trump conceded that some of his property values were inaccurate but insisted banks were obligated to do their own due diligence.

He frequently used his occasional court appearances as impromptu campaign stops, delivering incendiary remarks to reporters and insisting his enemies are using the courts to prevent him from retaking the White House.

Trump is cruising to the Republican nomination despite a host of other legal troubles.

He is under indictment in four criminal cases, including two cases about efforts to subvert his 2020 election defeat, and one in New York related to hush money payments he made to a porn star.

The judge overseeing that case on Thursday set a March 25 trial date.

Trump has pleaded not guilty in all four cases.