Trump Fined Almost 500 Billion Won For Inflating Assets

Former U.S. President Donald Trump was found guilty of manipulating the asset value of his family’s business, The Trump Organization, and was Trump fined close to 500 billion won. The financial crisis, including campaign funds, is expected to intensify ahead of the November presidential election due to successive judicial risks.

Judge Arthur Engoron of the Manhattan District Court in New York City fined former President Trump a total of $364 million (approximately 480 billion won) during the sentencing hearing on the 16th (local time) for the fraudulent loan allegations of former President Trump and the Trump Organization. It was decided that it was mine.

Manhattan District Court in New York City, claiming that former President Trump and the Trump Group falsely and inflated the value of their assets in order to obtain favorable transaction terms from banks and insurance companies. She determined that the Trump family understated the value of real estate owned by them to pay less taxes when paying taxes and inflated it in the process of receiving bank loans.

The court also fined former President Trump’s eldest son, Trump Jr., and his second son, Eric, $4 million (5.3 billion won) each, and Alan Weisselberg, who was called ‘Trump’s accountant,’ $1 million (1.3 billion won). Former President Trump attended a sneaker show held in Philadelphia, Pennsylvania on the 17th to promote the release of gold sneakers with the American flag and his signature ‘ T’ logo. The price of the sneakers is $399, which is equivalent to 530,000 won in Korean currency. The Associated Press pointed out that former President Trump’s team said sneaker sales were not related to the election campaign, but Trump campaign officials were promoting sneakers through online posts.

The court also issued a restraining order banning former President Trump from holding high-ranking positions in businesses in New York State for three years and banning his two sons from holding high-ranking positions in businesses in The New York State for 2 years.

Former President Trump claimed on his social networking service Truth Social that it was “election interference and a witch hunt” and “complete nonsense.” She sparred with Attorney General James and Judge Engo Ron, whom she accused of being “corrupt.” She immediately announced her intention to appeal the trial results.

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