Two judges imposed fines totaling nearly $500 million on former President Donald Trump in two distinct legal cases. The penalties indicate a potential strategy by Democrats to financially cripple Trump as he gears up for another run at the presidency, aiming to disrupt the status quo in Washington, DC, and remove President Joe Biden from office. Biden has denied any involvement in the legal actions taken against Trump, despite reports of meetings between prosecutors and officials from his administration prior to three of the indictments.
The fines levied against Trump exceed $430 million between the two cases:
-New York civil fraud case: More than $355 million
-E. Jean Carroll’s defamation case: $83.3 million
Trump has stated that he intends to challenge the decisions in both instances.
ABC News reported:
“While Trump’s donors have largely footed the bill for his campaign expenses — with Trump’s political committee spending more than $50 million on his campaign in 2023 — the legal cases present a stickier challenge for Trump, who has built a reputation around his wealth. Courts allow defendants multiple mechanisms to collect damages, including liens and wage garnishments, and the fines are not dischargeable through traditional protections like bankruptcy.
“Multiple legal experts who ABC News spoke with suggested that Trump is unlikely to front the fines immediately, and will instead opt to delay any payment using a bond secured by his assets until after he exhausts his appeal options.”
During Trump’s deposition in the New York civil fraud case, he revealed that his company possessed over $400 million in cash last year. Trump’s real estate organization is renowned for its remarkable success and holds numerous substantial assets.