Former US president Donald Trump has been fined $354.9m (£281.6m) after a civil fraud trial in New York.
With interest included, he will have to hand over at least $453.5m (£359.9m).
The judge also banned Trump from running businesses in New York for three years. His sons, Eric and Donald Jr, received similar bans for two years.
Trump and the Trump Organisation cannot apply for loans from any New York financial institution for three years.
Judge Arthur Engoron had already ruled in an earlier judgmentthat the former president inflated his wealth on financial statements given to banks, insurers and other institutions to make deals and secure loans.
Following the fine, Trump took to his Truth Social platform to vent his anger, describing the decision as a “complete and total sham” and accused the judge and prosecutors of being “deluded, biased and crooked”.
He also claimed the judgment was “illegal” and “unAmerican”.
Later, in a statement made outside his Mar-a-Largo estate, he claimed his company’s accounts were “great” and that he was the victim of a political “witch hunt”, which he blamed on President Joe Biden.
“It is a witch hunt against his [Biden’s] political opponent the likes of which our country has never been seen before,” he said.
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“You see it in Third World countries, but you don’t see it here.
“If I weren’t running [for president] none of this stuff would ever happen – none of these lawsuits would have happened – I would have had a nice life. But I enjoy this life for a different reason.”
He also said he planned to appeal.
Alina Habba, his lawyer, said after the hearing that the ruling was a “manifest injustice… plain and simple”.
She said in a statement: “It is the culmination of a multi-year, politically fuelled witch hunt that was designed to ‘take down Donald Trump,’ before Letitia James ever stepped foot into the Attorney General’s office.”
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0:23
Trump: ‘They don’t like me running’
New YorkAttorney General Letitia James sought $370m (£294m) and a ban on Trump and other defendants from doing business in the state in the civil fraud case.
Such a huge penalty could leave Trump’s real estate empire in tatters – an image that helped lead him to fame and the White House in 2016.
Judge Engoron also cancelled his prior ruling from September ordering the “dissolution” of companies that control areas of Trump’s real estate empire, saying this was no longer necessary because he is appointing an independent monitor and compliance director to oversee the businesses.
In the ruling, the judge wrote that Trump and the other defendants in the case “are incapable of admitting the error of their ways”.
The judge called the fraud at the heart of the trial a “venial sin, not a mortal sin”, adding in his written verdict: “They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff.
“But the frauds found here leap off the page and shock the conscience.
“Their complete lack of contrition and remorse borders on pathological. Instead, they adopt a ‘see no evil, hear no evil, speak no evil’ posture that the evidence belies.”
Donald Trump Jr and Eric Trump were each ordered to pay $4m (£3.1m) by the judge.
In response, Trump’s legal team claimed the testimony during the trial “proved there was no wrongdoing, no crime, and no victim” and added an appeal would be launched.
Ms Habba added: “Given the grave stakes, we trust that the Appellate Division will overturn this egregious verdict and end this relentless persecution against my clients.
“Let me make one thing perfectly clear: this is not just about Donald Trump – if this decision stands, it will serve as a signal to every single American that New York is no longer open for business.”
She launched a defamation case against the ex-president, accusing him of sexually assaulting her in a Manhattan department store in the mid-1990s.
In this latest civil case, Ms James’ office estimated Trump exaggerated his wealth by as much as $3.6bn.
State lawyers claimed Trump used the inflated numbers to get lower insurance premiums and favourable loan terms, saving at least $168m £133m) on interest alone.
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The Republican presidential front-runner testified in November that his financial statements actually understated his net worth and that banks did their own research and were happy with his business.
During closing arguments in January this year, he claimed the case was a “fraud on me”.
Before the trial, Judge Engoron ruled on James’ main claim, finding that Trump’s financial statements were fraudulent.
As punishment, the judge ordered some of his companies should be removed from his control and dissolved, but due to an appeal, another court has put that on hold.
Because it is a civil case, rather than criminal, there was no threat of Trump being jailed.
However, four of the investigations into the former president are on criminal grounds, including one in New York related to alleged hush money payments to a porn star ahead of the 2016 election.
Trump has also been charged in Florida over his handling of classified documents after leaving office and in Washington and Georgia for his bid to overturn his 2020 election loss.
Three police officers have been shot and killed and another five wounded as they served an arrest warrant in North Carolina.
According to officials, the suspect was also shot dead.
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Pro-Palestinian students in the US have defied an order by university officials to dismantle a tent camp set up to protest Israel’s war in Gaza or face suspension.
College authorities at Columbia University in New York, sent students a letter on Monday demanding they sign a form agreeing to obey university policies until June 2025 or an earlier graduation, if they wish to finish the term in good standing.
If they failed to comply by 2pm, local time, the letter said, they would be suspended, pending further investigation and would not finish the term, the note said.
But those at the camp, now in its second week, voted nearly unanimously to stay put, NBC, Sky’s US partner, said.
Around 2.45pm, protesters were seen marching on the quad and chanting “Disclose! Divest! We will not slow, we will not rest!'”, NBC said.
More than 300 people and at least 120 tents remained.
Noting that exams are starting and graduation is coming up, the letter said: “We urge you to remove the encampment so that we do not deprive your fellow students, their families and friends of this momentous occasion.”
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Mahmoud Khalil, the protesters’ lead negotiator, said university representatives began passing out the notices at the encampment shortly after 10am on Monday.
Demonstrators set up tents in the centre of the Columbia campus in one of the early pro-Palestinian protests over the Israel-Hamas war and its mounting death toll, but dissent quickly spread to other colleges, sparking clashes with police and arrests.
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At least 25 killed in Israeli strikes on Rafah
More than 900 people have been arrested across the US since police in New York removed a pro-Palestinian protest encampment at Columbia, arresting more than 100 demonstrators as they did so, on 18 April.
Clashes have continued, with about 275 people arrested on Saturday at various campuses including Indiana University at Bloomington, Arizona State University and Washington University in St Louis.
On Sunday night and Monday, people at an encampment near George Washington University in the US capital, protested, breaching and dismantling barriers.
Protesters at Yale University set up a new encampment with dozens of tents on Sunday afternoon, nearly a week after police arrested nearly 50 demonstrators and cleared a similar camp.
More than 34,000 Palestinians have been killed during the Israel-Hamas war, according to local health officials, who say about two-thirds of the dead are women and children.
Israel declared war on Hamas and unleashed an air and ground offensive in Gaza in response to the attack on southern Israel on 7 October.
Hamas killed about 1,200 people in Israel and took another 250 hostages in its assault.
A four-month-old baby was among at least five people killed after dozens of tornadoes swept across central parts of the US.
Officials said at least 100 people were injured in Oklahoma, where four of the five died, as the extreme weather flattened buildings, ripped off roofing and threw vehicles down the street.
The destruction was extensive in Sulphur, a rural town of about 5,000 people, as experts said nearly 40 twisters are believed to have carved their way through central areas across the weekend.
It comes after extreme weather left a trail of destruction in other central areas on Friday.
Officials confirmed a man died from injuries sustained in Iowa from a tornado in Pottawattamie County.
Oklahoma governor Kevin Stitt was in Sulphur to assess the damage when he declared a disaster emergency for 12 counties.
“You just can’t believe the destruction. It seems like every business downtown has been destroyed,” he said.
“Definitely the most damage since I’ve been governor.”
He added about 30 people were injured in Sulphur, including some who were in a bar as the tornado struck, while thousands of residents were left without power.
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President Joe Biden has offered the full support of the federal government to help with the recovery efforts, the White House said in a statement.
Storm warnings for high winds, heavy rain and hail were issued by the National Weather Service (NWS) on Sunday for more than 47 million people stretching across a large part of the US from eastern Texas towards Oklahoma, Missouri, Illinois and Wisconsin.
The NWS reported 38 possible twisters struck the central belt with Kansas, Oklahoma and Missouri enduring the worst of the weather.
At one point, more than seven million people were placed under tornado warnings.
The authorities said the tornado in Sulphur began in a city park before sweeping through the town, flipping cars and ripping the roofs and walls from buildings.
Sulphur resident Kelly Trussell said: “How do you rebuild it? This is complete devastation. It is crazy, you want to help but where do you start?”
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0:31
Tornado wreaks havoc in Nebraska on Friday
On Friday, a tornado forced an industrial building in Lancaster County, Nebraska, to collapse with 70 people inside.
Several people were trapped, but everyone was rescued, the authorities said. Three people had injuries which were not life-threatening.
The NWS later said there had been possibly two tornadoes which spent around an hour creeping through Nebraska, leaving behind carnage with winds of up to 165mph.