As of: February 22, 2024, 12:22 p.m
By: Simon Schröder
Comments
Press
Split
Bitter defeat for Trump in court.
The ex-president must pay at least $350 million.
Even his real estate could be seized.
New York – Donald Trump has to pay.
And not a little.
The verdict in the court case involving the “Trump Organization” has been finalized.
The ex-president has to fork over more than 350 million dollars, with interest it can even be up to 460 million.
This sum is not small for the 77-year-old billionaire.
After the verdict was announced, Trump's lawyers asked the judge to postpone the execution of the sentence, probably in order to be able to raise money.
The fact is, Trump has to pay.
Although he has announced that he will appeal, he still has to pay the sum or provide a guarantee, as Der
Spiegel
reports.
Trump sells gold sneakers to pay off court judgment?
In order to be able to pay the fine, Trump has become resourceful.
His latest idea: He sells gold sneakers to get more money to pay the fine.
Even a “Gofundme” donation page was set up by Trump’s supporters in order to be able to settle the “unjust” verdict, according to Trump.
So far, almost a million dollars has been donated.
A man dressed as Donald Trump in front of Trump Tower.
© SARAH YENESEL
However, at a sum of $350 million, all of this seems like a drop in the ocean.
This ruling becomes a problem for Trump.
The
New York Times
believes that this $350 million court ruling will completely deplete Trump's reserves.
If there is no other way, Trump would have to sell his real estate.
Even those that have been in the family for a long time.
Trump's real estate will be seized if the ex-president is unable to pay
Prosecutor Letitia James finds clear words in an exclusive interview with
ABC News
.
If Trump does not want or cannot pay, his real estate will be rigorously seized: “If he has no means to pay the judgment, we will apply to the court for enforcement measures and ask the judge to seize his assets.”
Trump's use of his court rulings for advertising and as a way to raise new donations is nothing new.
The now infamous “mugshot,” a police photo, of the 45th president was leaked through the media in August 2023.
Trump immediately seized the opportunity to sell T-shirts and coffee mugs with the police photo printed on them.
He was able to profit from the court ruling and skillfully collect donations for his upcoming election campaign.
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The Trump properties are valued too high – the extent of the fraud is “shocking”
The fraud also involved Trump's real estate.
In order to obtain low interest rates on his bank loans, Trump had “adjusted” or falsified the balance sheets of his assets upwards for years.
James commented on the extent of the fraud as “staggering”.
Prosecutors further described Trump's crime in the
ABC News
interview: “Financial fraud is not a victimless crime.
He committed this massive fraud.
It was not just a simple mistake, a small oversight, the variations were grossly exaggerated and the scale of the fraud was staggering.”
The verdict was correspondingly harsh: the million-dollar fine was just one aspect, and he was also no longer allowed to run a company in New York for three years.
His two sons Eric and Donald Trump Jr. are also no longer allowed to run a New York company for two years.
Donald Trump still maintains his strategy of denying any guilt and insists that the case against him is politically motivated.
Whether and how this ruling will impact Trump's presidential campaign remains to be seen.
(SiSchr)