Paying this fine is “impossible for any company,” protests Donald Trump. The former president and billionaire is unable to guarantee the New York courts that he will pay the $454 million fine expected following his civil conviction in February for financial fraud within his real estate empire, they said. admitted his lawyers on Monday March 18.
In a 5,000-page court document posted online Monday by the appeal section of the Supreme Court of the State of New York, for Manhattan (trial court), the defense of the former President of the United States argues that guaranteeing such a sum is “almost impossible”. “The amount of the judgment, with interest, exceeds $464 million,” or $355 million plus $100 million in interest for Donald Trump and eight million plus interest for his sons Donald Jr. and Eric. “Very few companies consider a legal bond of this magnitude,” protest the lawyers, who say they have approached around thirty insurance companies.
In the absence of a 100% guarantee on the fine, the appeal filed by Donald Trump in February before another court, but without a second trial, will not be suspensive: the businessman will thus have to pay the entire amount by March 25, under penalty of having some of his real estate seized by the courts.
" Witch hunt "
The Republican presidential candidate denounced in a press release Monday evening a “witch hunt”, considering that the fine is “unconstitutional, un-American, unprecedented and practically impossible [to pay] for ANY company, including a business as successful as [his].” The appeal section of the New York Supreme Court rejected a $100 million guarantee offer on February 28. The former president and his two adult sons also appealed the ban on running businesses in New York State for three and two years respectively.
Their lawyers had judged in February the amount of the fine "exorbitant and vexatious" and the "general ban" on running businesses in New York "illegal and unconstitutional", already considering it "impossible to ensure and file a voucher full warranty”.
In a resounding judgment on February 16, New York judge Arthur Engoron sentenced the ex-president to pay $354.86 million in fines for financial fraud, and each of the two sons to pay four million dollars.
New York State Attorney General Letitia James filed a complaint against Donald Trump in October 2022, and forced him with his sons and their Trump Organization group to a civil trial for fraud from last October to January. The tycoon, who made his fortune in real estate, castigated a “totally bogus” judgment, publicly denigrating magistrates James and Engoron.
