And thus it also delays the execution of the judgment for fraud.
What happened? Former US President Donald Trump paid his $175 million fine in a bond. According to BBC News, his properties and assets will not be temporarily seized, and the execution of the judgment for fraud will also be delayed.
History. А Manhattan judge ordered former President Donald Trump and his company to pay $355 million and banned him from holding a senior position in any New York company for three years. It was ruled that for financial gain, Trump fraudulently created the appearance that his wealth was much greater than it actually was. Trump’s sentence was reduced by a New York judge and the already $464 million penalty, including interest, was eventually reduced to $175 million.
Why did they do it? In this way, The Trump Organization obtained much more credit at low interest rates, so the goal was basically to deceive creditors. According to the court, the company’s managers falsified official documents because of this. The company was managed by Trump’s two sons (Donald Jr. and Eric), but they were also banned from managing the company for two years. It is therefore questionable how the company will continue to operate.
What does Trump say? He denies the violation of the law, according to him, the verdict is politically motivated, which he will fight against and will not accept. He also emphasized that no one was harmed by his company’s affairs.
What if he does lose? If Trump loses the appeal, he will have to pay all $464 million.
