Trump Ordered to Pay $453.5M in NY Fraud Case, Asset Seizure Looms
February 22, 2024Former President Donald Trump has been ordered to pay $453.5 million in fines and interest in a New York civil fraud case.
NY Supreme Court Justice Arthur Engoron rejected a request to delay the judgment against Trump, stating lack of justification for the postponement.
Trump and his two sons are banned from serving as officers in any New York business for a period due to being found liable for fraud.
The judgment initiates a 30-day period for Trump to appeal, during which he must pay $355 million plus approximately $100 million in interest or secure a bond.
If Trump cannot pay, the New York Attorney General is prepared to request asset seizure to cover the fines.
The defense claims the Attorney General is rushing the judgment, but the judge plans to sign off on it, potentially escalating Trump's financial liabilities to half a billion dollars by August 2025.
Summary based on 23 sources
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Sources
NBC News • Feb 22, 2024
Trump seeks 30-day delay in enforcement of damages in New York civil fraud caseLos Angeles Times • Feb 22, 2024
New York AG says she’ll seize Trump’s property if he can’t pay penalty - Los Angeles Times