2024-03-26 04:43:00
The New York Court of Appeals ordered yesterday (March 25) to postpone the collection of $454 million in fraud claims against former President Donald Trump and his associates. The condition is that the former US leader must pledge $175 million within 10 days.
The court order is a victory for Trump in avoiding confiscation of his assets. Previously, he had even come out to complain that he might have to sell off his property at a “fire promotion” to raise money to put up collateral in the case.
If Trump is able to collect $175 million in bail on time, U.S. prosecutors will not be able to begin seizing his assets.
Trump ordered by New York judge to pay $355 million in fines Plus approximately $99 million in interest, for a total of $454 million. for the crime of exaggerating net assets in order to deceive investors and financial institutions that provide loans
So far, it is unclear what decision the appeals court will take in the case. And it is expected that the panel of judges may take at least another year to consider the investigation before reaching a final decision.
“I absolutely respect the Court of Appeal’s decision and will take the $175 million in cash or bonds or securities. Or whatever is necessary, let’s put it in place as quickly as possible,” Trump told the media at a New York courthouse.
Trump previously faced a deadline to pay a $454 million fine by Monday, March 25, which he has admitted he cannot afford. If the Court of Appeal doesn’t postpone the charges on Thursday, Attorney General James could apply to the court to start seizure proceedings immediately.
New York Attorney General Letitia James, who is overseeing the case, said Trump “continues to face liability for the substantial fraud” he committed.
former US leader This Republican is accused of several criminal cases. and was ordered to pay millions of dollars in civil penalties. As he prepares to return to fight the election on November 5th to oust President Joe Biden.
Trump has had to scramble to find funds to use for his election campaign and fight various lawsuits. Until now, he still insists that he has not committed any wrongdoing in any case.
Earlier this month, Trump also posted a $91.6 million bail in a civil suit filed by author E. Jean Carroll for defamation over his accusations that she is a “liar” after she came out to claim that she had been raped by Trump decades ago. Trump himself is in the process of appealing the decision in this case as well.
The criminal charges against Trump stem from his attempt to overturn the results of the 2020 election won by President Joe Biden, his mishandling of classified documents after he left office in 2021, and that he paid to silence “Stormy Daniels,” an adult film star with whom he had a relationship before the 2016 election.
Source: Reuters
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