Trump was sentenced to pay $355 million for financial fraud
Donald Trump was ordered in court to pay $454 million (R$2.2 billion at current prices) for defrauding the balance sheets of his companies, but this Wednesday (28) his lawyers explained that the former President of the United States did not be able to deposit this amount in court and proposed to deposit US$100 million (R$496 million).
Judge Arthur Engoron of New York ruled on February 16 that Trump must pay a fine of $354.9 million for inflating the financial statements of his real estate company, the Trump Organization. With interest, the bill increases to $454 million. He is also prohibited from doing business in New York State for three years.
The former US president is appealing the verdict. In a document filed with the court by the lawyers, they explain that the amount of $454 million is exorbitant and that Trump is also prohibited from doing business in New York state (he therefore cannot take out loans). This is not possible. Deposit in court.
They claim that a $100 million bail and the property of the Trump Organization are enough to guarantee the trial goes ahead.
Attorney General Letitia James sued Trump and the Trump Organization in September 2022 for lying about assets and their net worth for a decade to obtain better terms on bank loans and insurance.
She said the former US president inflated his net worth by as much as $2.23 billion (R11.9 billion) in financial statements he submitted to banks and insurance companies.
Letitia said assets whose values were inflated included Trump's MaraLago estate in Florida, his penthouse apartment in Trump Tower in Manhattan, and several office buildings and golf courses.
1 of 2 Former President Donald Trump on April 4, 2023 Photo: Portal/Andrew Kelly/Pool/File Photo Former President Donald Trump on April 4, 2023 Photo: Portal/Andrew Kelly/Pool/File Photo
In addition to Trump, two of his sons, Don Jr. and Eric, were also convicted. Each must pay US$4 million (R$20 million).
In sentencing the former president, Judge Engoron said Trump and other litigants were unable to admit the error of their procedures.
“The lack of remorse and remorse borders on the pathological. Instead of (repenting), they adopt a 'I haven't seen anything, I'm not saying anything' attitude that the evidence contradicts,” the judge said.
Trump's lawyer in the case, Alina Habba, said the decision was unfair and the result of a politically motivated witch hunt.
Trump and his children will appeal the decision.
How did the fine come about?
The amount to be paid by Trump was requested by Letitia. To determine the amount of the fine, the Prosecutor General calculated as follows:
- added up the money Trump allegedly made by misrepresenting his wealth;
- bonuses paid to Trump Organization employees who participated in the program;
- And made profits in two real estate transactions.
Experts interviewed by the BBC stated that the value is so high that it could impact Trump's business and finances. The former president owns a real estate company.
According to the Forbes list, Donald Trump's fortune is estimated at $2.6 billion (or R$12.93 billion).
2 of 2 Donald Trump Photo: Portal Donald Trump Photo: Portal
Trump declares himself innocent and claims that Democratic prosecutor Alvin Bragg, who prosecuted him, is only pursuing electoral purposes.
This makes Donald Trump the first former president in US history to face a criminal trial.
The case against the former president began after a $130,000 payment to porn actress Stormy Daniels was uncovered on the eve of the 2016 presidential election. Trump wanted to prevent her from telling a magazine that the two were having an affair.
The prosecutor claims that the person who paid out the $130,000 paid to Stormy Daniels was Trump's thenlawyer Michael Cohen, and that the money was recorded as payment for Cohen's legal services, not as a payout to “keep the silence.” to buy”. the porn actress.
Prosecutors allege that from August 2015 to December 2017, Trump orchestrated a scheme to influence the 2016 election that included identifying and purchasing negative information about him in order to prevent its publication.