Court ordered Trump to pay $454 million to file appeal; he decided to negotiate
Donald Trump (photo: Getty Images)
The New York Appeals Court has ordered Donald Trump to pay $454.2 million if he intends to file a counter-appeal in a civil lawsuit for financial fraud. However, his lawyers have stated that Trump has decided to negotiate and has offered only $100 million, according to CNN.
According to Trump's lawyers, he wants to appeal the decision made by New York Judge Arthur Engoron on February 16, which, among other things, prohibits the former president from holding executive positions in any New York state company or taking out loans from banks registered in this state for three years.
However, to file an appeal, a bond in the full amount awarded by the court must be posted within a month. Otherwise, the New York State Attorney General's Office has the right to collect these funds at any time.
In the lawsuit filed by New York Attorney General Letitia James, which led to Judge Engoron's decision, Trump and his family business were accused of inflating his net worth by $3.6 billion annually for ten years to deceive banks and obtain better loan terms.
The judge did not revoke Trump's business licenses, which, according to some experts, could have effectively ended his business empire. However, he imposed a fine of $354.9 million on Trump, and last week this amount, including accrued interest, reached $454.2 million.
Trump's lawyers stated that a $100 million bond, as well as ongoing oversight of the Trump Organization by a court-appointed observer, would be more than sufficient to secure the court's decision.
Court cases against Trump
Donald Trump faces over 90 criminal charges in several cases, including the payment of $130,000 to porn actress Stormy Daniels, an attempt to overturn the results of the 2020 presidential election, unlawful disclosure of classified information after leaving office, and more.
On February 16, 2024, a New York court ordered Donald Trump to pay over $350 million. He was found guilty of deliberate financial fraud over ten years. The judge also prohibited Trump from holding executive positions or directorships in any New York corporation for three years.
Additionally, Trump may face civil liability for the actions of participants in the January 6, 2021, Capitol riot.
