Posted on 02/29/24
| News Source: MSN
Two weeks ago, a New York judge ordered Donald Trump to pay a huge penalty of $355 million plus interest — a grand total of more than $450 million — after finding him liable for fraudulently inflating his wealth.
But now that it’s time to produce such an amount, Trump’s legal team is undercutting both his and their own claims about his ability to do so.
In a filing Wednesday, Trump’s lawyers asked for a delay and offered to post a bond of just $100 million rather than the full amount. They called the full amount a “facially absurd” judgment and added that its terms preventing him from obtaining loans “make it impossible to secure and post a complete bond.”
Posting cash or a bond in the full amount is required within 30 days of a judgment to avoid the penalties being enforced while Trump appeals, experts have told The Washington Post.
An appeals judge ruled later Wednesday that Trump will still need to post the full amount but that he can obtain loans; an appeals panel is expected to review the case and issue its own decision March 18.
Before that, Trump’s team also said posting the full amount would “likely” require selling property in ways that would irreparably damage him financially.