The state of New York has issued a warning to former President Donald Trump regarding a $355 million penalty, which could result in him being barred from New York State for a period of time. The penalty stems from a legal case and until an appeal is filed, Trump is required to pay the fine, which also includes interest and other charges, totaling $450 million.
Trump has expressed confidence in his chances on appeal and has hinted at challenging the size of the fine, possibly invoking the Eighth Amendment to argue against excessive penalties. He has emphasized his innocence and financial stability, claiming that the banks involved in the trial still conduct business with him.
Despite the looming penalty, Trump has not disclosed whether he plans to sell any of his New York real estate assets to fund the appeal. The Attorney General has warned of seizing his assets if the fine is not paid within the 30-day deadline, urging Trump to either pay the fine, place the money in an escrow account, or post a bond.
Trump's legal team intends to argue the lack of a victim in the case and challenge the constitutionality of the penalty. The former president has criticized the trial process, alleging bias and premature guilt before the trial began.
As the deadline approaches, Trump faces the decision of how to finance the penalty, with potential repercussions for his assets in New York. The legal battle continues as both sides prepare for the next steps in resolving the financial dispute.
