(qlmbusinessnews.com Tues 27th Feb, 2024) London, UK —
“Donald Trump Appeals $454M Judgment in New York Fraud Trial: Legal Maneuvering Unfolds”
In a dramatic turn of events, Donald Trump and his legal team have launched an appeal against the staggering $454 million judgment handed down in a New York civil trial, where the former president was found liable for a decade-long fraud saga within his family business empire.
The appeal, filed with a New York appellate court, contends that the presiding judge committed legal errors, abused discretion, and overstepped jurisdiction boundaries during the trial proceedings.
However, the impending judgment remains enforceable unless Trump and his co-defendants post a bond equal to the mammoth amount ruled against them within a 30-day window. Failure to comply could result in the New York Attorney General's office initiating asset seizures.
The extensive legal battle, spanning three years of investigation and a months-long trial, culminated in a verdict compelling Trump, his adult sons, former Trump Organization executives, and associated entities to pay over $464 million. Trump's personal share of the judgment alone nears an astounding $455 million, with additional post-judgment interest accumulating daily.
Despite the appeal, Judge Engoron firmly rejected attempts to delay the judgment, emphasizing the urgency of the matter. Trump's legal team has pursued numerous appeals throughout the lawsuit, seeking to mitigate the financial fallout and navigate the complex legal landscape.
Meanwhile, Trump faces the prospect of a separate criminal trial in Manhattan next month, where he is charged with falsifying business records, further complicating his legal predicament as he navigates a contentious bid for a presidential comeback.
At the heart of the civil fraud case is the allegation that Trump and his associates artificially inflated asset values in financial statements submitted to financial institutions, securing favorable financing terms through deceitful means.
With the specter of significant financial penalties and business restrictions looming, the outcome of Trump's legal battles could profoundly impact his political aspirations and the future of his business empire.
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