|
Judge Arthur Engoron released his Decision and Order in the civil fraud trial against Trump, his family members, and business organizations. The decision imposed penalties of $354.8 million plus interest against Trump and family members, plus interest. After interest, Trump owes $454 million to the State of New York.
Trump is also prohibited from conducting business in New York for three years and borrowing from New York-chartered banks. His businesses will remain under the supervision of a court-appointed monitor, who will oversee the preparation of financial statements that comply with generally accepted accounting principles.
The decision is another step in a long road to accountability for Trump. Yes, he will appeal, but he will be required to post a bond in an amount sufficient to cover the existing penalties and interest ($454 million) plus interest that will accrue on appeal.
Trump was unable to come up with a bond to cover E. Jean Carroll’s first judgment against Trump (only $5 million), so he posted cash. That fact suggests Trump will struggle to find an entity to underwrite a bond in the range of half a billion dollars.
***
lennyesq 