Former president Donald Trump has been fined to the tune of $355 million in the civil fraud trial, the amount could reportedly hit $450M with interest. Trump has until 30 days to pay the amount before New York AG Letitia James once again takes to the court to ‘seize his assets’. The legal team representing the GOP contender filed an appeal to prevent the punishment from taking effect, allowing for an “orderly post-judgment process” as Trump and his advisers discuss how to come up with the staggering amount or find a way to pay a bond. However, Judge Arthur Engoron denied putting a stay on the given order, “You have failed to explain, much less justify, any basis for a stay,” he wrote, addressing Trump’s attorney Clifford Robert in an email . “I am confident that the Appellate Division will protect your appellate rights.”
As per CBS News , Engoron further stated in the email that the proposed judgment “accurately reflects the spirit and letter of the February 16 Decision and Order,” and said he “intend[s] to sign the proposed judgment this morning and to send it to the Clerk for further processing.” Trump’s lawyer, Robert attempted a final plea, saying “there is no exigency or potential prejudice to the attorney general from a brief stay of enforcement of the Judgment,” while the “prejudice to the defendants is considerable.” To which the judge replied that Trump’s team had “failed to explain, much less justify, any basis for a stay,” denying his request to pause enforcement of his ruling.
Let’s do some math. President Trump has been ordered to pay $83.3m and $354m. Combined its $437m. Including interest, it could be another $100m. His net worth is estimated to be between $2b to $2.6b. That’s estimated to be between 21% to 27% of his net worth. However,…
— Patrick Bet-David (@patrickbetdavid) February 17, 2024
As per The Daily Mail , even with his estimated net worth of over $2 billion, Trump will have to come up with almost $450 million in fines and interest. The interest rate is getting close to $90,000 every day. Meanwhile, Alina Habba, Trump’s attorney criticized the AG’s decision to seize assets saying, “Her goal of tearing down the Trump Organization, her goal of tearing down the individuals that worked so hard, including on his campaign, his family, and the list goes on and on, her goal is frankly not going to succeed,’ she said. ‘That’s all I’m willing to say,” Habba added.
“We have a great team. I’m proud of our team and we’re working around the clock to figure out what strategically is the best move,” said Habba in response to AG’s statement. “James’ goal was ‘to try and hurt the president, try and hurt his family, the company. She has no chance, the appellate record is strong,” she added. “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James told ABC News . “We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street every day,” James added.