Is Donald Trump's $355 Million Fine for Fraud Justified?

Between March and August, prosecutors indicted former President Donald Trump four times for alleged crimes. In September, New York civil court Judge Arthur Engoron ruled that Trump had committed business fraud when seeking financing for his real estate deals, and on Friday Engoron imposed his penalties for the civil offenses: The judge ordered Trump to pay $355 million in damages; he also banned Trump from serving as an officer or a director of a business in New York for the next three years.

Donald Trump on Saturday lashed out at the New York judge who ruled he must pay $354.9 million in penalties for fraudulently overstating his net worth to dupe lenders, telling thousands of supporters at a campaign rally the decision was an "election interference ploy."

Addressing supporters for the first time since Justice Arthur Engoron on Friday hit him with massive financial penalties, Trump made the unsubstantiated claim that the judge was part of a "left wing" conspiracy aimed at stopping him from becoming president again.

Donald Trump and his business were found liable Friday of inflating asset values in paperwork to lenders, but given that nobody lost money, this punishment smacks of political overkill. In a 92-page ruling, New York Judge Arthur Engoron ordered him to pay $355 million, while also banning him from being an officer for any New York corporation for three years.