As expected on the $454M judgement…….
Trump is also on the hook for another $83M in the E. Jean Carroll Civil judgement…..
And there IS interest accumulation….
The New York Attorney General has warned that if Trump does not come up with a down payment, or seeks to NOT pay the amount due?
She will move to seize his assets….
His kids are also due top pay $4M each….
Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that Trump lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
The former president’s lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16 verdict in Attorney General Letitia James’ lawsuit and reverse staggering penalties that threaten to wipe out Trump’s cash reserves.
Trump’s lawyers wrote in court papers that they’re asking the appeals court to decide whether Engoron “committed errors of law and/or fact” and whether he abused his discretion or “acted in excess” of his jurisdiction….
…
The appeal ensures that the legal fight over Trump’s business practices will persist into the thick of the presidential primary season, and likely beyond, as he tries to clinch the Republican presidential nomination in his quest to retake the White House
If upheld, Engoron’s ruling will force Trump to give up a sizable chunk of his fortune. Engoron ordered Trump to pay $355 million in penalties, but with interest the total has grown to nearly $454 million. That total will increase by nearly $112,000 per day until he pays.
Trump maintains that he is worth several billion dollars and testified last year that he had about $400 million in cash, in addition to properties and other investments. James, a Democrat, told ABC News that if Trump is unable to pay, she will seek to seize some of his assets.
Trump’s appeal was expected. Trump had vowed to appeal and his lawyers had been laying the groundwork for months by objecting frequently to Engoron’s handling of the trial….
Lisa Rubin
@lawofruby
·
2h
NEW: Trump and his co-defendants have filed notices of appeal of Judge Engoron’s decision and the $464 million judgment in the NY Attorney General’s civil fraud case. But there is no stay of the judgment yet. 1/
Lisa Rubin
@lawofruby
·
2h
Why? Because under NY court rules, defendants typically must post an undertaking, or bond, in the amount of the judgment or even more, as New York courts typically require. And there’s zero indication anyone has done so yet. 2/