Commercial presentation Update: 25/03/2024 17:56
Issued by: 25/03/2024, 17:56
New York – Former American President Donald Trump today scored a partial success at the New York Court of Appeals, according to whose decision he does not have to provide a guarantee for a previously imposed financial penalty of $454 million (over ten billion crowns), which was the original request. Instead, the authorities will settle for a guarantee of 175 million dollars (over four billion crowns), within ten days. Trump was threatened that if he did not meet the original deadline, the New York authorities would begin seizing his assets and ask the banks to freeze his accounts.
This is another development in Trump’s case of exaggerating assets in an attempt to gain a more favorable position in the eyes of banks and insurance companies. In the civil trial in question, Judge Arthur Engoron accepted nearly all of the prosecutors’ claims and in February ordered Trump to pay more than $350 million, plus an additional $100 million in interest.
Trump appealed the decision and was not required to pay the $454 million during the appeal process, but he had until today to prove to the court that the state will receive the money if the verdict is confirmed, i.e. either deposit the amount or secure a guarantor. But New York’s court system will settle for $175 million in bail bonds over the next ten days, according to a ruling today by the Manhattan Court of Appeals.
According to The New York Times (NYT), this is a significant partial victory for Trump, whose lawyers have tried unsuccessfully to enlist the support of 30 insurance companies in recent weeks. According to a recent NYT analysis, Trump has several hundred million dollars in cash or easily liquid assets, such as bonds – that is, not enough to cover the original 454 million given that for another 91.6 million (about 2.1 billion crowns) had to bond in early March in another civil suit he recently lost against former journalist Jean Carroll. The NYT writes that only a few people around him know how much cash Trump really has. A significant part of Trump’s fortune consists of real estate.
Trump apparently learned of today’s success at the appeals court while in another courtroom. There, his attorney Todd Blanche tried unsuccessfully to negotiate another delay in the start of the criminal trial in the case of Trump’s alleged falsification of financial records in connection with the payment to porn actress Stephanie Clifford to remain silent about an alleged affair before the 2016 election.
US Finance Court President Trump
Tags: Trump succeeded appeals court immediately pay million fine
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