Trump Is Staring Down Half A Billion In Court Fines With No Obvious Path Forward
HuffPost
The former president is going to need to make some difficult financial decisions — and fast.
New York courts have levied enormous fines against former President Donald Trump in recent weeks. He owes more than $83 million for defaming the writer E. Jean Carroll and more than $450 million for his real estate empire’s fraudulent business practices.
No matter how much Trump rails against the courts — so far he has labeled them “absolutely ridiculous” and “a Complete and Total SHAM” — he still needs to figure out what to do about the judgments while he appeals them. And at this point, he doesn’t appear to have the cash on hand.
If he doesn’t make a plan, he could be forced to fork over the funds, a messy route that New York Attorney General Letitia James has nevertheless said she is prepared to undertake.
James is behind the civil fraud suit against Trump and his business partners that culminated with Judge Arthur Engoron’s whopping Feb. 16 fine of $355 million plus tens of millions in interest, which is accruing at a rate of more than $100,000 per day. A federal civil jury determined the amount of the smaller fine on Jan. 26 in a win for Carroll, who maintains that Trump sexually assaulted her in the 1990s.
In both cases, Trump will need to put up either cash or a bond covering the full amount he owes, plus a little extra, to cover interest while he appeals.
Donald Trump’s Attorney Says He Was 'Shocked' The Former President Took The Verdict With 'Solemness'
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