On Friday, the fines that Donald Trump will be required to pay in the New York civil fraud case for altering the value of his properties in order to secure favorable loan and insurance rates were legally established so that they exceed $454 million. Due to the fact that the non-jury trial that lasted for three months ended on February 16th, the judgment, which includes penalties totaling $354 million and pre-judgment interest up to $100 million, will continue to accrue interest in the event that the former president does not pay.
In order to satisfy the state’s demand, Trump has two choices: he may either pay the total amount in full or he can secure a $35 million bond on his assets. These assets might include the Fifth Avenue Trump Tower, 40 Wall Street, his Mar-a-Lago home, or a variety of golf clubs located in the United States.
In the finalized verdict, Judge Arthur Engoron also ordered Trump’s adult sons, Donald Trump Jr. and Eric Trump, to each pay about $4.7 million, and Allen Weisselberg, the former chief financial officer of the Trump Organization, to pay $1.1 million, all of which includes interest.
Despite the fact that he has often referred to the investigation as a “witch hunt,” the former president has stated that he will appeal the decision and has denied any wrongdoing. The significant penalties that Engeron ordered have triggered a new round of heated statements between President Trump and the Attorney General of New York, Letitia James, about the circumstances surrounding the case.
During an interview with ABC News on Wednesday, James stated that she is ready to confiscate the assets of the former president in the event that he is unable to finance the fine. “We will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James said in an interview with the network. “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms at the court level.”
“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day,” James continued. “Thank you for your unwavering support.” Alina Habba, who represents Trump, downplayed that threat, stating that James’s case and her threat to seize 40 Wall Street would not be successful.
I will tell you this: that objective will not be accomplished, and that is the message that I can give to everyone who is currently listening to this. I am going to tell you this: During an interview with Fox News, Habba stated that it would not be successfully implemented. When Engoron imposed the fine and banned Trump for three years and his adult sons for two years from serving in top executive roles at any New York company or seeking loans from any New York-registered bank, he stated in his ruling that the defendants had demonstrated a “complete lack of contrition and remorse [which] borders on pathological.”
This was stated in the context of the defendants’ actions. The decision that Engoron made was rendered a week ago. Clifford Robert, the attorney who represents Donald Trump, made a request to postpone the implementation of the judgments for a period of thirty days in order to allow for “an orderly post-judgment process, particularly given the magnitude of the judgment.”
On Thursday, he told the judge that he would not grant the request. During the course of the interview, Engoron expressed to the attorney that he had “failed to explain, much less justify, any basis for a stay.” I am certain that the appellate division will protect your rights to appeal in an appropriate manner. There is no doubt in my mind about this.
Related posts:
Trump legal update: Clerk issues $464 million fraud judgment against Trump, starting clock for payment.
Donald Trump ordered to pay over $350m in New York financial fraud case
There’s Much More to Those $399 Gold Trump Sneakers Than Just Shoes .2
Trump asks Carroll defamation trial $83.3 million judgment delay.2
How to view this weekend’s Orionid meteor shower
US Vice President Kamala Harris sets a new record for the most votes in the Senate that break ties.
McCarthy declares that at the end of the year, he will leave Congress
“CMA Star Lainey Wilson’s Daily Power Boost: Unveiling the Winning Mantra She Swears By!”2