Donald Trump Contests $454 Million New York Civil Fraud Judgment

Washington: According to CNN, US former president Donald Trump, his adult sons, and two former Trump Organization staffers challenged the USD 464 million verdict that was filed against them in the civil fraud lawsuit brought by the New York attorney general on Monday (local time). On the first working day after Judge Arthur Engoron’s formal announcement of the ruling, Trump submitted a notice of appeal to the court.

Furthermore, according to CNN, he is personally liable for USD 454 million, including interest payments. The legal team emphasized in their submission that they were contesting the monetary award as well as additional relief, such as the years-long prohibitions on the Trumps from holding corporate officer positions in New York and whether the judge “committed errors of law and/or fact, abused its discretion, and/or acted in excess of its jurisdiction.”

It was unclear right away, however, how Trump intended to pay the appeal’s costs. In addition, CNN stated that the former US president would need to provide cash or post-bond to pay the USD 355 million plus an extra about USD 100 million in interest that he was mandated to pay.

His kids were also sentenced to return more than USD 4 million in earnings that they had wrongfully acquired as a result of the crime.Criminal defence lawyer Jeremy Saland said, “That interest will continue to run during the whole case if he does not provide all those dollars.” In summary, he is having problems.

“He may file an appeal without having to pay the costs. To avoid losing additional money, he contributes the money. “Cash is the best way to bandage that wound,” Saland said.According to the attorneys, interest accumulated until the whole amount was paid at a rate of nine percent each year.

The attorney general cannot seize Trump’s property if he posts a bail, which may be secured by real estate or other assets, according to CNN. Trump may also request that the appeals court postpone the ruling or refrain from requiring him to submit the money right now. While some attorneys claim that posting judgments of this magnitude is more typical for businesses, the magnitude of the award for a person is rather unprecedented.