- Judge Arthur Engoron finalized his judgment in Donald Trump’s civil fraud trial on Friday.
- Trump now must pay $454 million in fines or secure a bond within 30 days.
- Trump’s legal team has said they will appeal the verdict.
Judge Gave Trump 30 Days, Donald Trump’s clock is ticking.
Judge Arthur Engoron, who presides over the ex-president’s civil fraud trial, officially concluded his ruling in the matter on Friday evening, according to court documents. This means Trump now faces a 30-day deadline to pay the $454 million in fines or arrange for a bond covering the full amount, as reported by the Associated Press.
The amount includes a $354 million penalty plus nearly $100 million in pre-judgment interest.
A spokesperson for Attorney General Letitia James confirmed to the AP that Trump will begin accruing interest of $111,984 per day.
Per the AP, this interest amount considers both the penalty and the pre-judgment interest — not just the penalty — meaning Trump will owe more interest than the $87,502 per day previously thought.
On Thursday, Judge Engoron dismissed attempts by Trump’s legal team to postpone the commencement of penalties.
The finalized decision also stipulates that Trump has a 30-day window to contest the ruling under New York law.
On February 16, the legal showdown between James and Trump concluded in Engoron’s Manhattan courtroom, with the judge outlining the repercussions Trump, his two sons, and former Trump Organization CFO Allen Weisselberg would face for allegedly inflating asset values to increase profits.
“The evidence repeatedly confirms this. It’s a minor wrongdoing, not a major one,” stated Engoron, who had previously ruled in September that Trump had committed fraud over several years.
Engoron added, “The defendants didn’t commit murder or arson. They didn’t hold up a bank at gunpoint. Donald Trump isn’t Bernard Madoff. However, the defendants refuse to acknowledge their wrongdoing.”
Trump and his lawyers, who spent months defending the value of the former president’s businesses, called the verdict a “gross miscarriage of justice.”
Trump lawyer Christopher Kise said he is preparing to appeal, per a statement to Newsweek.
“The case raises serious legal and constitutional questions regarding ‘fraud’ claims/findings without any actual fraud,” Kise told the publication.
Representatives for James and Trump did not immediately respond to a request for comment from Business Insider.