Former President Donald Trump secured a bond deal to prevent New York's attorney general from pursuing his assets and bank accounts while he appeals a $454 million judgment in his civil fraud case. The bond, set at $175 million, was obtained from a California company and will cover a portion of the judgment if Trump loses his appeal. This deal averts a financial crisis for Trump, who was originally required to cover the entire penalty, and gives him more time to resolve the case.
A federal judge denied Donald Trump's request to delay an $83.3 million payment to E. Jean Carroll, who accused him of rape in the 1990s. The judge refused to relieve Trump from the financial burden, citing his slow response to the defamation case verdict. Trump's lawyers have challenged the judgment, arguing it will likely be reduced or eliminated on appeal. The judge noted that Trump's own actions led to his current situation and rejected the argument that ongoing litigation expenses constitute irreparable injury. Additionally, a separate state court case has ordered Trump and his companies to pay $355 million in penalties for inflating his wealth.
A New York judge has ordered Donald Trump to pay a $355 million penalty for submitting false data to financial institutions, with interest accruing at a rate of $112,000 per day, bringing the total owed to at least $454 million. Trump also faces an $83.3 million judgment in a federal defamation case. To delay enforcement while he appeals, he must put up the entire amount in cash or bonds, posing a significant challenge given his real estate-heavy wealth. Trump's legal team is exploring bond options, but bond issuers may require substantial cash collateral due to the risk involved. Trump's ability to raise cash and satisfy the legal debt is further complicated by a court-ordered leadership shake-up at the Trump Organization.
A $454 million civil fraud judgment against Donald Trump has been finalized in New York, allowing the former president to begin the appeals process while accruing nearly $112,000 in daily post-judgment interest. The judgment, stemming from allegations that Trump inflated his wealth to secure loans, gives him 30 days to appeal and requires him to deposit funds or secure a bond for the total amount. New York Attorney General Letitia James has indicated plans to seize assets if Trump cannot cover the bill, though the appeal may delay collection. Trump's interest will now increase to $111,984 per day, with his co-defendants also facing daily charges until the penalty is paid.
In a major blow to Donald Trump, a judge has ruled that he and his organization must pay nearly $355m in fines for fraudulently misrepresenting their assets to obtain loans, with Trump's sons and former CFO also facing heavy fines. Trump has been barred from doing business in New York for three years, while his organization will continue to exist under strict oversight. The ruling also includes the appointment of an independent monitor to keep the company in check, and the judge criticized the Trump Organization's business practices as "sloppy."
A New York judge ordered Donald Trump and his companies to pay $355 million in penalties for engaging in a yearslong scheme to dupe banks with inflated financial statements. The verdict, a stunning setback for the former president, could dramatically diminish his financial resources if upheld. Judge Arthur Engoron concluded that Trump and his company were "likely to continue their fraudulent ways" and imposed financial penalties and other controls. Trump and his co-defendants were criticized for their lack of contrition and remorse. The ruling is a victory for New York Attorney General Letitia James, who sued Trump over deceptive practices in building his business empire. Trump's lawyers vowed to appeal, calling the verdict a "manifest injustice" and "politically fueled witch hunt."
Donald Trump Jr and Eric Trump have been fined over $8 million for their involvement in the Trump Organization's fraudulent business dealings, with the company being found liable for nearly $464 million. The court ruled that the organization had inflated Donald Trump's net worth and assets to secure better financing terms. Both sons have been ordered to pay roughly $4 million each and are barred from executive offices with any New York company for two years. Donald Trump is barred from holding such offices or getting loans from New York banks for three years. The Trump family plans to appeal the decision, with Donald Trump Jr framing the case as a politically-fueled witch hunt. These legal troubles could seriously impact Donald Trump's political career and brand.
A New York judge is expected to deliver a verdict in Donald Trump's civil fraud trial, with prosecutors seeking a $370m fine and restrictions on his business activities. Trump denies committing fraud and plans to appeal, but faces financial challenges as he battles multiple legal cases. To pay the potential fine, he could secure a bond, sell assets, or turn to his fundraising engine, but any major penalty will likely cause serious financial headaches for the former president.
Judge Engoron is set to reveal the penalty against Donald Trump and his real estate company in response to New York Attorney General Letitia James' fraud allegations, which accuse Trump of inflating property values to obtain financial benefits. The penalty could reach $370 million, and Trump may face a ban from operating any business in New York state. With an estimated net worth of $2.6 billion, Trump's liquid assets could be significantly impacted by the combined penalties from this case and a separate defamation trial. Trump continues to deny any wrongdoing, claiming the case is politically motivated, while James asserts that the trial has exposed significant financial fraud.
British billionaire Joe Lewis, owner of Tottenham Hotspur soccer club, pleaded guilty to insider trading and conspiracy charges in New York, admitting to sharing nonpublic information about publicly traded companies. He faces a prison sentence of 18 to 24 months and a financial penalty of over $50 million. Lewis and his company, Broad Bay Limited, will resign from board seats and cooperate with the ongoing investigation. Despite his fortune and diverse business interests, including ownership of over 200 companies and an art collection, Lewis's guilty plea has led to significant legal and financial consequences.
Former New York City mayor and personal attorney to Donald Trump, Rudy Giuliani, has been ordered to pay $148 million in damages to 2020 election workers in a defamation case. The workers had accused Giuliani of spreading false claims about widespread voter fraud during the 2020 presidential election. The court ruling found that Giuliani's statements had damaged the workers' reputations and caused them financial harm.
Former New York City mayor and personal attorney to Donald Trump, Rudy Giuliani, has been ordered to pay $148 million in damages to 2020 election workers in a defamation case. The workers had accused Giuliani of spreading false claims about widespread voter fraud during the 2020 presidential election. The court ruling found that Giuliani's statements had damaged the workers' reputations and caused them financial harm.
Former BP CEO Bernard Looney will forfeit £32.4 million ($44.9 million) in bonuses and share awards due to "serious misconduct." The decision comes after an internal investigation found that Looney had violated the company's code of conduct.
