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Trump faces a $370m fine in New York fraud trial. How would he pay it?

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 Paying a $370 million fine in the New York fraud trial

 

The former president, along with his adult sons and his company, has been found liable for fraudulently inflating asset values in statements to lenders. Prosecutors are seeking a $370 million fine and restrictions on Trump’s business activities in the state.

Even for a billionaire, $370 million is a substantial sum. Legal experts warn that such a penalty, along with a potential adverse verdict affecting his real estate empire, could severely dent Trump’s finances. While he won’t become working class overnight, the fine could significantly diminish his wealth.

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Former federal prosecutor Diana Florence noted, “It’s just going to be a lot of cash. His fortune will be significantly reduced.” This underscores the gravity of the financial implications Trump faces as a result of the fraud trial.

Why could Trump be fined $370 million?

 
New York Attorney General Letitia James argued in court that $370 million is the appropriate amount for the Trumps to pay in disgorgement, a financial penalty aimed at reclaiming ill-gotten gains from fraudulent activities.
 
She arrived at this figure by considering three key factors: the money Donald Trump allegedly saved in interest rate payments on loans due to misstating his assets; the “bonuses” distributed to Trump Organization employees involved in the scheme; and the profits generated from two property transactions that James contends were acquired through fraudulent means.
 
The final decision on financial penalties rests with Judge Arthur Engoron, who will announce his ruling in due course. His determination will significantly impact the financial consequences faced by the Trumps as a result of the court proceedings.

 

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