Trump fraud case payments coming due as he seeks to appeal ruling

 February 20, 2024

Former President Donald Trump, according to his lawyer Alina Habba, will address the substantial $354 million judgment against him in his New York fraud trial, amid considerable speculation regarding his means of acquiring the funds.

Judge Arthur Engoron's ruling on Friday, articulated in a 92-page order, mandated Trump to remit this staggering amount, criticizing his "complete lack of contrition and remorse."

The amount

With accumulated interest, the sum surpasses $450 million, following a prior court directive demanding Trump to pay $83 million to E. Jean Carroll for defamation.

Despite Trump's assertion of possessing over $400 million in cash, uncertainties loom over his capacity to mobilize resources from his real estate endeavors.

"I would never get into anything privileged," Habba affirmed to Fox News on Monday, elucidating the impending necessity of posting a bond within 30 days, regardless of an appeal, which necessitates the full sum and additional funds.

The aftermath

Bond agents customarily levy a 9% fee as insurance for providing the requisite capital. Trump confronts the challenge of securing the bond amidst Judge Engoron's appointment of an additional independent monitor to oversee his company and a three-year prohibition from managing any New York State enterprise.

Habba decried the ruling, branding it as a "scare tactic" aimed at dismantling Trump's business empire, expressing confidence in his resilience and liquidity.

She refrained from disclosing whether liquidating assets would be imperative to meet the financial obligation. While Trump's net worth is estimated to exceed $2 billion, the majority of his wealth is enmeshed in intricate real estate holdings and partnerships.

Trump's assets

His liquid assets, as per New York Attorney General Letitia James, amounted to $93 million in 2020.

Trump's claim during a deposition for a lawsuit filed by AG Letitia James, asserting possession of $400 million in cash, drew a strong rebuke from Habba, terming it a "manifest injustice" following Friday's verdict.

The countdown begins for Trump's 30-day timeframe to amass the requisite funds upon formal judgment enactment. Notably, the awarded damages surpass the gross national product of several nations, including Micronesia.

State law mandates Trump to furnish the funds for an appeal, a course he has pledged to pursue.

Trump's attorney Chris Kise informed Newsweek that the appeal would be lodged within the stipulated timeframe, emphasizing the litigation's invocation of grave legal and constitutional queries concerning the absence of actual fraud amidst fraud claims and findings.

" A free people [claim] their rights, as derived from the laws of nature."
Thomas Jefferson
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