Donald Trump does not intend to give in to the huge fine imposed by New York for having inflated the assets of the family holding company. The tycoon decided to proceed with the appeals and, in the meantime, paid the 175 million dollar bail to suspend the verdict. Donald Trump was sentenced in February by judge Arthur Engoron to pay a fine of 454 million for having inflated the assets of his companies to obtain better conditions from insurance companies and banks. Paying the bail avoids the seizure of his assets. If Trump’s appeals are unsuccessful, the former president will be required to pay the entire fine imposed on him.
The February sentence
Judge Arthur Engoron in the same mid-February ruling also imposed a ban on Donald Trump from holding roles in any company based in New York, including his own. The tycoon immediately declared that he would appeal and so he did. Two of Trump’s sons, Donald Jr and Eric, were also involved in the same trial for the assets of the family holdings, sentenced to pay 4 million dollars each.
