September 29, 2022

Trump ordered to pay $10,000 a day for contempt of court

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A New York court ordered former US President Donald Trump to pay $10,000 every day for disrespectful treatment of a government agency. On Monday, April 25, New York Attorney General Letitia James told CNN reporters.

“Today, justice has prevailed. Our investigation into the financial dealings of Donald Trump and the Trump Organization will continue as no one is above the law,” James emphasized on her Twitter account.

It is noted that a written decision is expected on Tuesday, April 26.

“Mr Trump, I know you take your business seriously and I take mine seriously. I convict you of contempt of court and fine you $10,000 a day until you stop being disrespectful,” Judge Arthur Engoron was quoted as saying at Monday’s hearing by CNN.

On April 7, the New York Attorney General announced her intention to hold Trump accountable for refusing to provide judicial authorities with documents to investigate the financial transactions of the businessman and his Trump Organization. Such behavior is regarded as contempt of court.

The investigation against the company of the 45th President of the United States is connected with the illegal manipulation of the value of various real estate assets in order to obtain the most favorable credit conditions, insurance coverage and reduce the tax rate.

On July 1, 2021, CNN reported that the company of the former US President Trump Organization is accused of violating tax laws. It is noted that the organization and its director have been involved in a criminal scheme for tax evasion for 15 years. So, they are charged with fraud, conspiracy, theft of property and forgery of documents.

In February last year, the media reported that the New York prosecutor’s office expanded the investigation into the financial activities of the former US president in connection with real estate transactions in Manhattan.

According to journalists, the authorities are interested in loans that Trump received from several subsidiaries of the mortgage company Ladder Capital, totaling about $280 million.

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