The staggering civil fraud judgment against Donald Trump was finalized in New York on Friday, making official a verdict that leaves the former president on the hook for more than US$454 million in fines and interest.
The procedural step by the New York county clerk starts the clock on Trump's appeals process, while allowing the debt to begin racking up post-judgment interest of nearly US$112,000 each day, according to a spokesperson for New York Attorney General Letitia James, who brought the case.
In his Feb. 16 ruling, Judge Arthur Engoron ruled that Trump lied for years about his wealth in order to secure favorable loans and make deals that helped prop up his real estate empire. He was ordered to pay US$354.9 million in penalties plus nearly US$100 million in interest.
The formalized verdict gives Trump a 30-day window to appeal, which he has vowed to do. Within that same time frame, he must deposit 鈥渟ufficient funds鈥 in a court-controlled account or secure a bond for the total amount, James's office said.
Earlier this week, James said she would seek to seize some of the former president鈥檚 assets if he鈥檚 unable to cover the bill, though the appeal is likely to halt collection of his penalty while the process plays out.
Trump has denied wrongdoing. His lawyers had been seeking to delay the filing after wrangling with state lawyers and the judge over what that paperwork should say.
On Thursday, Engoron rejected lawyer Clifford Robert鈥檚 request that enforcement of the penalty be delayed 30 days, writing in an email: 鈥淵ou have failed to explain, much less justify, any basis for a stay. I am confident that the Appellate Division will protect your appellate rights.鈥
Starting Friday, the interest on Trump鈥檚 penalty will increase to US$111,984 per day, rather than the US$87,502 per day he had owed before the verdict was made official. That鈥檚 because post-judgment interest is calculated on the total judgment 鈥 the underlying US$355 million penalty, plus the nearly US$100 million he racked up in pre-judgment interest.
Before the judgment was entered, Trump鈥檚 interest was charged only on the underlying penalty. In all, Trump and his co-defendants will be charged US$114,554 per day in interest until they pay, according to The Associated Press鈥 calculations.
That includes US$1,149 per day from each of Trump鈥檚 two eldest sons, Eric and Donald Trump Jr., and US$272 per day from former longtime Trump Organization finance chief Allen Weisselberg. Those amounts will continue to accrue even while they appeal. If Trump and his co-defendants succeed in getting the verdict overturned, they might not owe anything.
Hurricane Milton strengthens into a Category 5 storm off Mexico and threatens Florida, forecasters say.
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Ceremonies, events and protests are being held across Canada today to mark the anniversary of a Hamas attack on Israel that triggered the ongoing war in Gaza.
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A Canadian soldier who was exposed to toxic chemicals from burn pits while serving in Afghanistan has been awarded full medical compensation for testicular cancer after Veterans Affairs initially denied his claim.
Lawyers representing the Ontario man accused of selling hundreds of suicide kits with deadly effect around the globe have filed to intervene in a case in Canada鈥檚 highest court, arguing there is no way he can be charged with murder under Canadian law.
A totem pole that has stood on the grounds of the Manitoba legislature for more than 50 years has come down.
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Palestinian militants in Gaza fired a barrage of rockets into Israel on Monday as mourners marked the anniversary of the Oct. 7 attack, without disrupting a nearby ceremony.
Former U.S. President Donald Trump on Monday suggested undocumented immigrants who commit murder have 'bad genes,' in the latest example of the former president using dehumanizing rhetoric as he tries to stoke fears about those in the country illegally.
Lawyers for a man who is also under investigation in the 2007 disappearance of British toddler Madeleine McCann called on Monday for him to be acquitted in his trial on charges of unrelated sexual offences.
A British doctor on Monday admitted trying to kill his mother's long-term partner, who stood between him and an inheritance, by injecting the man with poison disguised as a COVID-19 vaccine.
Tunisia鈥檚 President Kais Saied won re-election in a landslide victory in results announced Monday after a campaign season that saw his opponents jailed alongside journalists, activists and attorneys.
Ukraine鈥檚 military said it struck a major oil terminal Monday in Crimea that provides fuel for Russia鈥檚 war effort as Ukrainian President Volodymyr Zelenskyy said the war has entered a key phase.
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Georgia's highest court reinstated a ban on nearly all abortions after about six weeks of pregnancy on Monday while it considers the U.S. state's appeal of last week's ruling by a lower court judge blocking the law.
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If your household has recently been hit by a power outage, here are ways to keep your food safe.
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A Canadian soldier who was exposed to toxic chemicals from burn pits while serving in Afghanistan has been awarded full medical compensation for testicular cancer after Veterans Affairs initially denied his claim.
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Hurricane Milton strengthens into a Category 5 storm off Mexico and threatens Florida, forecasters say.
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