Agencies
Tuesday, March 26, 2024 07:16 AM
A New York Court of Appeals reduced the fine imposed on Donald Trump From about half a billion dollars to 175 million, in a move that provides a lifeline to the candidate in US elections 2024 Coming.
An appeals court panel gave Trump, who faces the possibility of confiscating some of his real estate assets, ten days to pay the amount of $175 million.
Trump and his two sons were found guilty of inflating the Trump Organization’s net worth to obtain favorable loan terms, and Judge Arthur Engoron in February ordered them to pay a $454 million fine.
And had to Trump He secured the amount Monday to appeal Engoron’s ruling, but an appeals court panel agreed to reduce the amount he must pay.
Trump allegedly found it difficult to secure the large sum, but the New York Times reported, citing people familiar with his financial resources, that he would be able to secure the sum after its value was reduced.
Trump said in a statement on the Truth Social website that he “will abide by the decision of the Court of Appeals and will pay the fine.”
Trump confirmed on Monday morning that he would go to court. He once again attacked the democratic authorities, saying, “These are fraudulent cases, all coordinated by the White House and the Department of Justice for the purposes of interfering in the elections (…) Our country is corrupt!”
Trump’s lawyers have been saying for weeks that they are unable to provide the bail that would suspend the February ruling that bans Trump and his two sons from managing their companies in New York for three and two years respectively.
On Friday, the former Republican president confirmed that he has “about $500 million in cash, a large portion of which is directed for use in his election campaign” against the current Democratic President, Joe Biden.
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