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- Judge Arthur Engoron on Friday finalized the verdict in Donald Trump’s civil fraud trial.
- President Trump must now pay a $454 million fine within 30 days or post bail.
- Trump’s lawyers announced they would appeal the ruling.
The countdown to President Donald Trump’s birth has officially begun.
Judge Arthur Engoron, who is overseeing the former president’s civil fraud trial, finalized his ruling in the case Friday night, meaning Trump will be fined $454 million within the next 30 days, according to court records. He has a deadline to pay the amount or secure the total amount of bail, the Associated Press reported. The press reported.
This amount includes a $354 million penalty and approximately $100 million in prejudgment interest.
A spokeswoman for Attorney General Letitia James confirmed to The Associated Press that Trump will begin accumulating $111,984 in interest per day.
According to the Associated Press, the interest amount takes into account both the penalty and pre-judgment interest, not just the penalty, and Trump is owed more in interest than previously thought at $87,502 per day. You will be responsible for
Engoron on Thursday rejected an attempt by Trump’s lawyers to delay the start of his punishment.
The final verdict also means Trump has 30 days to appeal the verdict, in accordance with New York state law.
On February 16th, the legal battle between James and Trump in Engoron’s Manhattan courtroom ended after a New York City judge ordered Trump, two of his sons, and the Trump Organization’s former chief financial officer, Allen Weisselberg, to sue him for years. The case was concluded by detailing the fines to be paid. “Increasing the value of an asset in order to make more money.”
“The documents prove this over and over again. This is a venial crime, not a capital crime,” said Engoron, who previously issued a preliminary judgment in September that found Trump’s years of fraud. he said in the February ruling.
Mr. Engoron continued: “These defendants did not commit murder or arson. They did not rob banks at gunpoint. Donald Trump is not Bernard Madoff. Still, these defendants acknowledge the error of their ways. I can’t do that.”
Trump and his lawyers, who have spent months defending the value of the former president’s businesses, called the ruling a “grave miscarriage of justice.”
President Trump’s lawyer, Christopher Kise, said he was preparing an appeal. newsweek.
“This case raises significant legal and constitutional questions regarding the allegations and findings of ‘fraud,’ although there is no actual fraud,” Kise told the publication.
Representatives for James and Trump did not immediately respond to requests for comment from Business Insider.
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