Donald Trump awaits the start of a hearing in New York City Criminal Court, New York, U.S., February 15, 2024.
Donald Trump has been ordered to pay nearly $355 million US in penalties for fraudulently overstating his net worth, a New York judge ruled on Friday. But does the former U.S. president have enough money to pay it off?Donald Trump awaits the start of a hearing in the New York City Criminal Court on Feb. 15. Donald Trump has been ordered to pay $354.9 million US in penalties for fraudulently overstating his net worth to dupe lenders, a New York judge ruled on Friday.
Between Friday's ruling and the two judgments in Carroll's case, Trump would be on the hook for about $542 million US in legal judgments. As part of Friday's ruling, the judge also ordered both of Trump's sons to pay $4 million apiece.Trump's legal bills appear to be piling up for donors, according to election expenses reportIt's possible some of the high-dollar amounts could be reduced on appeals.
Trump could also post a smaller amount with collateral and interest by securing a type of loan called an appeal bond. But he could have trouble finding a lender after Justice Arthur Engoron ruled Friday that he'd lied to banks about his wealth. At the end of the day, it'll be up to the courts to decide how much Trump must put up as he mounts his appeal.
"The likelihood of the Federal Election Commission in its current configuration pursuing these violations is not terribly great," said Daniel Weiner, director of the Brennan Center's Elections and Government Program.Legally, the consequences Trump would face are the same ones facing any American refusing to pay a legal judgment.
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