Trump’s financial impasse to pay court fines
| The former president of the United States, who was sentenced to pay a fine of half a billion euros by a court in his country, is currently facing the problem of collecting this amount and his property is in danger of confiscation. |
The former president of the United States, who is accused of manipulating his company’s accounts to get better financial terms from banks and insurance companies, has been sentenced to pay 345.8 million dollars; The amount that increases to 464 million dollars including the interest and financial fines of his sons.
According to Euronews, Donald Trump’s lawyers have announced that their client is able to pay this amount until The end of March is not the deadline set by the court, and also he cannot provide the necessary financial guarantee to the court regarding his ability to pay this fine.
Therefore, According to CNN, no insurance company is willing to provide a 100% guarantee for such a huge amount. More than 30 times they have faced rejection of their request in this regard.
Practically impossible
Why no bank wants to provide a guarantee for Donald Trump in court? According to Trump’s advisers, the former head of the White House does not have such an amount in his bank accounts, and insurers refuse to consider the value of his real estate assets.
Donald Trump He is so fed up with these conditions that he emphasized the impossibility of paying the fine set by the court in the current situation.
He called this fine “illegal, un-American, unprecedented” and wrote that its magnitude is such that it would be impossible for any business, including his “successful business”, to pay it.
Donald Trump’s lawyers have asked the appeals court to delay the provision of financial security for the fine imposed until the completion of the appeal process (which may take several years).
If the request is rejected and the former tycoon does not find a solution to pay the fine by March 25 (6 April 1403), some of his properties may be confiscated to compensate for the debts, as reported by CNN. According to Maysud, Trump’s mansion in Maralago in Florida is worth about 464 million dollars and he can raise the necessary amount by selling it. He will be able to file his appeal in this case if he can deposit the amount of the fine or the equivalent financial guarantee to the account of the judicial authority in New York. Otherwise, the judge, using his legal powers, can order the arrest of his property and real estate.
| © | Webangah News Hub has translated this news from the source of Tasnim News Agency |
