A huge civil fraud judgement against former President Donald Trump was officially finalised in New York on Friday.
A huge civil fraud judgement against former President Donald Trump was officially finalised in New York on Friday.

Donald Trump Faces Massive Civil Fraud Judgment in New York

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A staggering civil fraud judgment against former President Donald Trump was officially finalized in New York on Friday, solidifying a verdict that holds him accountable for over $454 million in fines and interest.

Appeals Process Initiated:

The procedural move by the New York county clerk marks the beginning of Trump’s appeals process, with post-judgment interest accumulating at a rate of nearly $112,000 per day. 

This decision follows a ruling by Judge Arthur Engoron on Feb. 16, which found Trump guilty of misleading about his wealth to obtain favorable loans and bolster his real estate empire.

Payment Requirements and Asset Seizure Threat:

Within a 30-day window for appeal, Trump must deposit adequate funds in a court-controlled account or secure a bond for the full amount. 

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New York Attorney General Letitia James has indicated plans to seize Trump’s assets if he fails to cover the debt, although the appeal process may temporarily halt collection efforts.

Trump’s Response and Legal Maneuvering:

Trump has consistently denied any wrongdoing and intends to appeal the judgment. His legal team sought to delay filing, but Judge Engoron rejected this request, emphasizing the need to protect appellate rights.

Escalating Financial Consequences:

With the judgment formalized, Trump faces a daily interest charge of $111,984, significantly higher than the previous rate. 

This accrual applies not only to Trump but also to his sons, Eric and Donald Jr., as well as former Trump Organization finance chief Allen Weisselberg. Despite ongoing appeals, interest continues to accumulate until the debt is settled.

Joshua Skate

Joshua Skate is a prominent contributor at Insider Los Angeles, known for his vibrant storytelling and deep dive into the city's culture, trends, and hidden gems. His pieces bring to life the unique spirit and diversity of Los Angeles, making him a go-to source for all things LA.

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