Trump appeals $544m penalty
NEW YORK: Former US president Donald Trump has appealed the $US355m ($544m) fine imposed by a New York court after he was found guilty of illegally manipulating the values of his properties to fraudulently obtain favourable loan conditions.
Including pre-trial interest charged at 9 per cent, Mr Trump is liable to pay $US454,156,783.05, according to the appeal filing lodged at the New York Supreme Court – with interest continuing to be applied until the full sum is paid.
The interest is accruing at about $US112,000 a day.
Mr Trump – almost certain to be the Republican presidential nominee this November – had vowed to challenge the ruling by judge Arthur Engoron.
The order also barred him and his sons from conducting business in New York. Mr Trump was banned for three years and his sons for two.
The appeal means that the case, and the significant financial jeopardy it entails, will continue well into the presidential campaign and possibly beyond the November vote.
Mr Trump, also facing 91 criminal counts in four criminal cases, has seized on his legal woes to fire up supporters and denounce his likely opponent, President Joe Biden, claiming that the cases are “just a way of hurting me in the election”.
Mr Trump faces another primary vote on Wednesday AEDT, and, after sweeping the early voting states, Michigan is not likely to interrupt his march to the nomination.
His sole remaining challenger, former UN ambassador Nikki Haley, lost her home state of South Carolina to Mr Trump at the weekend and suffered another blow when the wealthy Koch family said it was halting its donations to her campaign.
The Democrats and the Republicans both hold votes in Michigan, although Republicans have adopted a complex hybrid system that wraps up the contest four days later via caucus-style gatherings.