Donald Trump must pay US$354.9 million ($543 million) in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday.
Justice Arthur Engoron also banned Trump from serving as an officer or director of any New York corporation for three years.
In the ruling, Engoron wrote that Trump and the other defendants in the case were "incapable of admitting the error of their ways."
"Their complete lack of contrition and remorse borders on pathological," Engoron wrote.
"Instead, they adopt a 'See no evil, hear no evil, speak no evil' posture that the evidence belies."
The lawsuit brought by New York Attorney General Letitia James accused Trump and his family businesses of overstating his net worth by as much US$3.6 billion ($5.5 billion) a year over a decade to fool bankers into giving him better loan terms.
Trump's lawyer Alina Habba said in a statement that the ruling was a "manifest injustice" and "culmination of a multi-year, politically fueled witch hunt" against him.
"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," Habba said, adding that she plans to appeal.
Trump and his adult sons, Don Jr. and Eric, were defendants in the case. Don Jr. and Eric Trump were each ordered by the judge to pay $4 million.
Trump has denied wrongdoing and called the case a political vendetta by James, an elected Democrat.
Trump is expected to appeal Friday's ruling by Engoron.
