A New York Attorney requested the court to impose the ruling, after Trump failed to hand over documents requested during an investigation into his business affairs.
The former president’s lawyers say they will appeal the decision, noting his team have done everything they can to comply with the court.
The case centres around claims Trump inflated the value of his assets to banks when he was seeking loans.
New York’s Attorney has long accused the businessman of stonewalling – and now she’s successfully made it costly for him not to comply with requests.
Trump’s lawyer says the investigation has “seemingly become aimless” adding the Trump organisation has been given six subpoenas since the case began three years ago.
The lawyer also notes her client has produced more than 6 million pages of documents, and 13 Trump Organisation witnesses have also been deposed.
