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Trump fined $350 Million
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02-17-2024, 08:40 AM
(This post was last modified: 02-17-2024, 08:47 AM by The Real Marty. Edited 2 times in total.)
(02-16-2024, 07:49 PM)WingerDinger Wrote: If I'm a betting man, I bet they never see a dime because of appeals.. I believe that usually, when there is a monetary judgment entered against the defendant in a civil trial, even if the defendant intends to appeal, he has to deposit the money with the court pending the outcome of the appeal. ------------------------------------- Explainer: How will Trump pay his $355 million civil fraud judgment? | Reuters He could be required to deposit the full amount of the judgment against him plus interest during any appeal, which is standard practice in similar cases. Trump could also post a smaller amount with collateral and interest by securing a type of loan called an appeal bond. But he could have trouble finding a lender after Engoron ruled that he lied to banks about his wealth. The appeal could take more than a year, and it is not yet clear whether an appellate court would put Engoron's Friday decision on hold during the process. ----------------------------------------- If he buys an appeal bond, the average premium is 1-2%. So if he goes that route, it will cost him between $4 million and $8 million, plus he will have to tie up one of his properties as collateral, that is assuming he hasn't already borrowed money against that property. It'll be interesting to see what happens if he has to post the $400 million with the court until his appeals are exhausted. |
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