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Judge fines Trump more than $300 million, bars from running businesses in New York for three years(www.nbcnews.com)

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Habahnow@sh.itjust.works
29 points

My understanding is that it must be paid in 30 days or, if he wants to appeal it, put into a trust or something. Effectively, removing his access to the money until the appeal is resolved.

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SeaJ@lemm.ee
12 points

Do you have a source on that? If true, that would be delicious.

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Habahnow@sh.itjust.works
12 points

I sadly can’t find tje article that mentioned the 30 days to pay. Regardless, in order to appeal he needs to provide the court money.

https://www.theguardian.com/us-news/2024/feb/16/how-will-trump-pay-trial-penalties

Trump has a few options in paying the court. He could pay up everything that he owes now in cash. Or he could try to get an appeal bond, meaning he wouldn’t have to pay all the cash up front in exchange for a premium and putting up collateral.

There’s this link: https://www.reuters.com/legal/judge-set-rule-trumps-370-million-civil-fraud-case-2024-02-16/

Relevant portion:

Trump could be required to deposit his portion of the full judgment plus interest during an appeal. Trump could also post a smaller amount with collateral and interest by securing a type of loan called an appeal bond. But he may have trouble finding a willing lender after Engoron found he lied to banks about his wealth.

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lepinkainen@lemmy.world
2 points

But he may have trouble finding a willing lender after Engoron found he lied to banks about his wealth.

Deutsche Bank has entered the chat 😆

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sunbytes@lemmy.world
2 points

What happens if he doesn’t pay?

I really want him to pay, but his previous behaviour makes me think he just won’t.

And there’s a limit to what anyone else can do about that.

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Habahnow@sh.itjust.works
1 point

My understanding is that the independent monitor that is tasked by the court to monitor Trump’s finances and assets would be able to make the payment with Trump’s assets. So basically, either Trump can make the payments himself or someone else will instead.

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Freshfrozenplasma@sh.itjust.works
1 point
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