“Nobody has ever heard of anything like this before,” Mr Trump said in a series of posts on his Truth Social platform. “I will be forced to mortgage or sell major assets, probably at rock bottom prices.”
Mr. Donald Trump at the New York Supreme Court on February 15, 2024. Photo: Reuters
Last month, federal judge Arthur Engoron in New York ordered Mr. Trump to pay a $354.9 million fine for allegedly illegally inflating and manipulating the value of his assets to obtain favorable bank loans and insurance terms.
Judge Engoron ordered Mr. Trump’s adult sons — Donald Trump Jr. and Eric Trump — to each pay nearly $4.7 million. And former Trump Organization chief financial officer Allen Weisselberg must pay $1.1 million, all including interest.
The total payment was $464.6 million and was determined on February 22. More than $114,000 in interest will continue to accrue daily, mostly to Mr. Trump. The judgment was announced on February 23.
If Mr. Trump fails to pay the fine on time, the state attorney general could begin seeking to seize his assets.
Fundraising for Mr Trump's 2024 US presidential campaign has lagged behind incumbent President Joe Biden in recent months.
Mr Trump continues to have to balance raising money for both his campaign and his legal costs, which are likely to increase as he faces four upcoming criminal trials.
Mr Trump has denied wrongdoing in all the criminal and civil cases he faces. He has repeatedly described the New York civil case as a political vendetta by New York’s Democratic Attorney General, Letitia James.
Mai Van (according to Reuters)
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