Major reduction in Trump's fine

The New York Appeals Court has issued its ruling regarding the $464 million fine imposed on former US President Donald Trump in his civil fraud case.

The Appeals Court reduced the $464 million fine to $175 million and granted him an additional 10 days to pay the penalty.

SEIZURE OF ASSETS PREVENTED

The decision temporarily prevents New York Attorney General Letitia James from seizing Trump's real estate and bank accounts to collect the $464 million fine.

The court also stayed the ruling that banned Trump from serving as an officer or director of any New York company for three years and prevented him and the corporate defendants from obtaining loans from New York financial institutions for the same period. Additionally, the court blocked the ruling that prohibited Trump's sons, Donald Trump Jr. and Eric Trump, from serving as officers and directors in New York companies for two years. The court decided to maintain the court order that expands and increases the powers of the financial monitor established to oversee the financial status of the Trump Organization.

REDUCTION TO $100 MILLION HAD BEEN REQUESTED

In a petition filed by Trump's lawyers to the New York Appeals Court on March 19, it was stated that it was impossible to secure the full $464 million penalty, and it was requested that the fine be set at $100 million. The lawyers had stated that they could not find an insurance company to act as a guarantor due to the size of the penalty amount.

CIVIL FRAUD CASE

In the civil fraud case filed by New York Attorney General Letitia James, Donald Trump, the Trump Organization, and some of its executives were accused of inflating the value of assets to obtain better commercial terms for bank loans and insurance transactions. As a result of the trial, a total fine of $364 million was imposed on Trump and his sons, Donald Jr. Trump and Eric Trump, who worked as executives in his company. It was reported that the total amount Trump would pay, including court costs and interest, had reached $464 million.

News Source: İHA