The appeal of former President Donald Trump’s legal staff to avoid having to pay a $355 million fine in the civil fraud lawsuit has been turned down by a New York court overseeing the case.
The Trump legal team requested a 30-day postponement of the payment’s implementation by Judge Arthur Engoron to facilitate an “orderly post-judgment procedure.”
Engoron stated in a letter to the defendants that was uploaded to the court docket on Thursday that they were “unable to clarify, nor did they defend, any justification for a stay.”
“I am sure that the Appellate Division will safeguard your appellate rights,” he stated in a letter.
In the civil fraud lawsuit filed against him this past week, Trump was declared liable for $355 million in penalties and prohibited from conducting business in New York for 3 years.
If Trump cannot afford to pay the substantial judgment imposed in his civil fraud case, James declared on Monday that she was ready to take possession of his assets.
If Trump is unable to pay the huge New York civil fraud penalty, he may lose some of his most valuable assets. He owes the state around $454 million, plus interest, and the balance is increasing by $87,502 every day until it is paid.
After developing the real estate empire that drove him to fame and the White House, Trump deceived for years regarding his wealth, according to Engoron’s conclusion. Trump promises to file a lawsuit and denies any wrongdoing.
With consecutive court setbacks, Trump’s capacity to settle his growing legal bills is becoming more and more questionable.
A jury found him liable in January for defaming author E. Jean Carroll, and the judgment was $83.3 million.
Trump stated a year ago that he had $400 million in funds on hand, but his court fines would deplete those funds. The remaining portion of his alleged multibillion-dollar net worth is comprised of real estate, expenditures, golf clubs, skyscrapers, and other possessions.
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