The staggering civil fraud judgment against Donald Trump was finalized in New York on Friday, making official a verdict that leaves the former president on the hook for more than $454 million in fines and interest.
The procedural step by the New York county clerk starts the clock on Trump’s appeals process, while allowing the debt to begin racking up post-judgment interest of nearly $112,000 each day, according to a spokesperson for New York Attorney General Letitia James, who brought the case.
In his Feb. 16 ruling, Judge Arthur Engoron ruled that Trump lied for years about his wealth in order to secure favorable loans and make deals that helped prop up his real estate empire. He was ordered to pay $354.9 million in penalties plus nearly $100 million in interest.
This is the best summary I could come up with:
NEW YORK (AP) — The staggering civil fraud judgment against Donald Trump was finalized in New York on Friday, making official a verdict that leaves the former president on the hook for more than $454 million in fines and interest.
The procedural step by the New York county clerk starts the clock on Trump’s appeals process, while allowing the debt to begin racking up post-judgment interest of nearly $112,000 each day, according to a spokesperson for New York Attorney General Letitia James, who brought the case.
In his Feb. 16 ruling, Judge Arthur Engoron ruled that Trump lied for years about his wealth in order to secure favorable loans and make deals that helped prop up his real estate empire.
Within that same time frame, he must deposit “sufficient funds” in a court-controlled account or secure a bond for the total amount, James’s office said.
Earlier this week, James said she would seek to seize some of the former president’s assets if he’s unable to cover the bill, though the appeal is likely to halt collection of his penalty while the process plays out.
On Thursday, Engoron rejected lawyer Clifford Robert’s request that enforcement of the penalty be delayed 30 days, writing in an email: “You have failed to explain, much less justify, any basis for a stay.
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