Victor EzejaFormer United States President, Donald Trump on Monday appealed the $464 million judgment given against in the New York attorney general’s civil fraud case.
Trump filed the appeal alongside his adult sons, and two former Trump Organisation officials.
The filing stated that the attorneys were appealing the money judgment as well as other relief, such as the years-long prohibitions on the Trumps serving as officers of New York corporations and the possibility that the judge “committed errors of law and/or fact, abused its discretion, and/or acted in excess of its jurisdiction.”
In order to pay the $355 million and the approximately $100 million in interest he was ordered to pay, Trump will either need to post bail or provide cash. Due to the fraud, each of his sons was sentenced to repay more than $4 million in gains that they had wrongfully acquired.
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Trump had requested a 30-day postponement of the verdict, but the judge rejected his request, stating that there was no justification or explanation provided. Given the “magnitude” of the ruling, his attorneys had contended that it wouldn’t hurt the New York attorney general’s office and would enable an orderly procedure.
The ruling will still be enforced notwithstanding Trump’s appeal.
The front-runner in the Republican presidential contest has until March 25 to obtain a stay, which is a legal tactic that stops collecting while he files an appeal. If Trump deposits cash, assets, or an appeal bond that covers his debt, he will automatically be granted a stay of proceedings. The attorneys representing Trump may potentially request that the appeals court issue a stay without requiring a bond or with a smaller bond.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
