Important lessons learned from Donald Trump's significant loss in the fraud trial

Donald Trump has been ordered to pay nearly $355 million in penalties by Justice Arthur Engoron, following a fraud trial against the former president's business empire. The judge also imposed a three-year ban on Trump from conducting business in New York. Justice Engoron agreed with Attorney General Letitia James that the Trump Organization should be held accountable for misrepresenting its assets to obtain favorable loans and interest rates. The ruling represents a significant setback for Trump, although it no longer poses a threat of dissolving his businesses. Trump's sons, Eric and Donald Jr, were also fined $4 million each, while former CFO Allen Weisselberg was fined $1 million. The defendants may also be subject to heavy interest on their fines. Trump is expected to appeal the decision, but must pay the full amount within 30 days to stay the verdict while the appeal is underway. The ruling comes shortly after a separate defamation case where Trump was ordered to pay $83.3 million to writer E Jean Carroll. Despite the penalties, Trump's ability to conduct business outside of New York remains unaffected. The decision also avoided the dissolution of Trump's New York businesses, instead subjecting them to strict oversight monitored by an independent compliance director. Justice Engoron's ruling was based on extensive evidence and criticized the defendants' lack of remorse.