For Donald Trump, the countdown has officially started. Trump now has 30 days to pay the $454 million in penalties or get a bail for the full amount, according to court documents. Judge Arthur Engoron, who is presiding over the former president's civil fraud trial, issued his ruling in the case on Friday night, according to the Associated Press.
The sum comprises around $100 million in pre-judgment interest in addition to a $354 million penalty. Attorney General Letitia James's spokesman confirmed to the AP that Trump will start to accrue $111,984 in interest daily.
According to the AP, this interest number takes into account both the penalty and the pre-judgment interest, thus Trump will owe more interest than the $87,502 per day that was first estimated. Engoron denied Trump's attorneys' pleas on Thursday to postpone the imposition of the punishment. According to New York law, Trump has 30 days from the date of the final judgment to file an appeal.
The court case between James and Trump in Engoron's Manhattan courtroom ended on February 16 when the New York City judge outlined the fines that Trump, two of his sons, and Allen Weisselberg, the former CFO of the Trump Organization, would have to pay for years of "inflating asset values to make more money."
The records consistently demonstrate this. In his February finding, Engoron—who had already rendered a pre-trial ruling in September concluding that Trump had committed fraud for years—stated, "This is a venial sin, not a fatal sin."
"Defendants did not commit murder or arson," Engoron went on. They did not hold up a bank with a pistol. Bernard Madoff is not Donald Trump. However, the accused are unable to acknowledge their mistakes."
After spending months arguing for the worth of the former president's companies, Trump and his legal team referred to the decision as a "gross miscarriage of justice."
In a statement to Newsweek, Trump's attorney Christopher Kise said that he is getting ready to file an appeal. Kise informed the magazine that "the case presents important legal and constitutional problems about 'fraud' claims/findings without any real fraud."
The sum comprises around $100 million in pre-judgment interest in addition to a $354 million penalty. Attorney General Letitia James's spokesman confirmed to the AP that Trump will start to accrue $111,984 in interest daily.
According to the AP, this interest number takes into account both the penalty and the pre-judgment interest, thus Trump will owe more interest than the $87,502 per day that was first estimated. Engoron denied Trump's attorneys' pleas on Thursday to postpone the imposition of the punishment. According to New York law, Trump has 30 days from the date of the final judgment to file an appeal.
The court case between James and Trump in Engoron's Manhattan courtroom ended on February 16 when the New York City judge outlined the fines that Trump, two of his sons, and Allen Weisselberg, the former CFO of the Trump Organization, would have to pay for years of "inflating asset values to make more money."
The records consistently demonstrate this. In his February finding, Engoron—who had already rendered a pre-trial ruling in September concluding that Trump had committed fraud for years—stated, "This is a venial sin, not a fatal sin."
"Defendants did not commit murder or arson," Engoron went on. They did not hold up a bank with a pistol. Bernard Madoff is not Donald Trump. However, the accused are unable to acknowledge their mistakes."
After spending months arguing for the worth of the former president's companies, Trump and his legal team referred to the decision as a "gross miscarriage of justice."
In a statement to Newsweek, Trump's attorney Christopher Kise said that he is getting ready to file an appeal. Kise informed the magazine that "the case presents important legal and constitutional problems about 'fraud' claims/findings without any real fraud."
