Trump paid the $175 million fine in the civil fraud case
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Former US President Donald Trump paid the $175 million fine he was sentenced to in the civil fraud case, preventing the seizure of his assets.
Former US President and businessman Donald Trump paid the fine he was convicted of in the civil fraud case. Trump prevented the seizure of his assets by paying the $175 million fine, which was reduced by the New York Court of Appeals. Trump’s lawyer, Alina Habba, stated, “President Trump has paid the bail as promised. He looks forward to defending his rights on appeal and eagerly awaits the reversal of this unjust decision.”
Donald Trump, on the other hand, said in a statement on his social media account that he paid the fine to the failed and highly problematic state of New York with the decision of “a corrupt judge and prosecutor” who used a law that had never been applied in this matter before.
Civil fraud case
In the civil fraud case filed by New York Attorney General Letitia James, Donald Trump was accused of obtaining better commercial terms for bank loans and insurance transactions and inflating the value of his assets with the Trump Organization company and some executives. As a result of the lawsuit, Trump and his sons Donald Jr. Trump and Eric Trump, who worked as executives in the company, were fined a total of $364 million. With court fees and penalty interest, the total amount Trump would pay reached $464 million. The court also banned Trump from serving as a top executive in his New York companies for 3 years, and his sons for two years each, and from obtaining loans from banks.
The fine had been reduced
On March 25, the New York Court of Appeals reduced Trump’s $464 million fine to $175 million and gave him an additional 10 days to pay the fine. The court also suspended the decision banning Trump and his sons from working in a company in New York or serving as executives and from obtaining credit from New York credit institutions.
The reduction of the fine to $100 million had been requested
In a petition filed by Trump’s lawyers to the New York Court of Appeals on March 19, it was stated that it was not possible to secure the entire $464 million compensation fine, and a request was made to reduce the fine to $100 million. The lawyers stated that no insurance company could be found to guarantee the amount of compensation.
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