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New York Legal professional Normal Letitia James warned the New York appeals court docket that former President Donald Trump does not have enough cash to pay the $454 million fraud penalty.
Earlier this month, Judge Arthur Engoron ordered the Republican frontrunner to pay virtually $355 million after ruling the Trump Organization committed in style fraud. The whole penalty will increase by using $112,000 in hobby each day Trump does no longer pay it.
On Wednesday, Trump asked the appeals court docket to carry the enforcement of the penalties by way of providing to submit a $a hundred million bond except the whole appeals process is completed.
“The exorbitant and punitive amount of the Judgment coupled with an illegal and unconstitutional blanket prohibition on lending transactions would make it inconceivable to stable and publish a whole bond,” Trump’s attorneys wrote in a Wednesday court submitting.
James spoke back to Trump’s efforts to pause enforcement of the penalty by way of claiming he does no longer have enough liquid cash on hand in a letter to the appeals courtroom.
News
New York AG asks an appellate court to disclaim Trump’s application to pause enforcement of the judgment pending enchantment, including the disgorgement, monitoring, and mortgage prohibition.
Background https://t.co/xyq23bzJ3b p.c.twitter.com/pgTzler5Sf
— Adam Klasfeld (@KlasfeldReports) February 28, 2024
“There is no merit to defendants’ contention that a full bond or deposit is senseless because they are keen to submit a partial undertaking of less than 1 / 4 of the judgment quantity,” she wrote. “Defendants all but concede that Mr. Trump has inadequate liquid property to meet the judgment; defendants would wish ‘to boost capital’ to do so.”
Along with the fraud penalty, Trump additionally owes author E. Jean Carroll $83.3 million after a New York choose found him accountable for defaming her prior this month. Previously, Trump had been discovered answerable for sexually abusing Carroll by a New York jury in a separate case.
The put up New York Legal professional General Warns Court Trump Doesn’t Have Enough Cash to Pay Fraud Penalty first appeared on Mediaite.
