Judge Arthur Engoron ordered Donald Trump on Friday to pay a fine of approximately USD 355 million after finding him responsible for fraud, and ruled to prohibit him from managing his companies in the state of New York for three years.

Trump was found liable of fraudulently inflating the values of his properties, conspiracy, and issuing false financial statements and false business records, and was banned also from serving as the Director of his company.

The text of the judgment issued by Judge Arthur Engoron stated, "The court hereby prohibits Donald Trump... from assuming any executive or managerial position in any company in New York or any legal entity in New York for a period of three years." Trump was also ordered to pay a fine of USD 354,868,768.

Trump announced that he will appeal the ruling, and described it as a witch hunt. “A crooked New York state judge just ruled I have to pay a fine for $350m for having built a perfect company,” he said on Friday from Mar-a-Lago.