(New York) Donald Trump is unable to provide the New York justice system with a guarantee that he will pay $454 million in fines for financial fraud within his real estate empire, following his civil conviction in February, they said. admitted his lawyers on Monday.
In a 5,000-page legal document posted online Monday by the appeal section of the Supreme Court of the State of New York, for Manhattan (trial court, Editor’s note), the defense of the former President of the United States Unis argues that guaranteeing such a sum is “virtually impossible”.
“The amount of the judgment, with interest, exceeds $464 million [355 millions plus 100 millions d’intérêts pour Donald Trump et huit millions plus intérêts pour ses fils Donald Jr. et Eric, NDLR] and very few companies consider a guarantee voucher [une caution judiciaire, NDLR] close to this magnitude,” protest the lawyers who say they have approached around thirty insurance companies.
Which means that in the absence of a 100% guarantee on the fine, the appeal filed by Donald Trump in February before another jurisdiction, but without a second trial, will not be suspensive.
The businessman and political tribune will have to pay the entire amount by March 25, under penalty of seeing some of his real estate seized by the courts.
The appeal section of the New York Supreme Court rejected a $100 million guarantee offer on February 28.
The former president and his two adult sons also appealed their ban on running businesses in New York State for three and two years, respectively.
Their lawyers had ruled in February the amount of the fine “exorbitant and vexatious” and the “general ban” on running businesses in New York “illegal and unconstitutional” already considering it “impossible to insure and post a guarantee complete “.
In a resounding judgment on February 16, New York judge Arthur Engoron sentenced the ex-president to pay $354.86 million in fines for financial fraud and, each of his two sons, four million dollars.
New York State Attorney General Letitia James filed a complaint against Donald Trump in October 2022 and forced him, his sons and their Trump Organization group to a civil trial for fraud from last October to January.
The tycoon, who made his fortune in real estate and disrupted the democracy of the world’s leading power, criticized a “totally bogus” judgment by publicly denigrating magistrates James and Engoron.