Trump Faces Financial Woes Amid $464 Million Fine Appeal
Regency. (AFP)
Donald Trump faces a significant financial setback following a staggering $464 million fine in his New York bank fraud case. Instead of complying, he’s pursuing an appeal, reported by The New York Times. Trump’s legal team contends he lacks the funds to pursue the appeal unless he liquidates assets such as buildings.
Meanwhile, the New York Attorney General alleges Trump is quietly transferring assets to Florida, possibly to evade seizure. In an attempt to proceed with the appeal, Trump’s lawyers proposed offering only $100 million, a fraction of the required sum. They argue that selling properties to raise funds could jeopardize their ability to reclaim them if successful in the appeal.
However, the Attorney General remains skeptical, concerned that Trump seeks to evade the fine entirely, particularly with asset transfers out of New York. She insists Trump must provide the full amount or a substantial portion during the appeal process.
Trump’s legal team protests the exorbitant judgment and struggles to secure a lender for the appeal. They cite the judge’s restriction on Trump’s ability to borrow from New York banks as exacerbating the challenge.
Nonetheless, the Attorney General shows no leniency, emphasizing Trump’s obligation to fulfill the financial obligation, warning of difficulties in enforcing the judgment otherwise.
