Trump appeals $355 million civil fraud judgement as penalty amount rises

Former US president Donald Trump has appealed the $355 million fine imposed on him by a New York court earlier this month. The Republican leader was found guilty of manipulating the values of his properties to obtain favourable court conditions.

According to court documents submitted on Monday (Feb 16), the penalty amount had risen to $454 million after a pre-trial interest of nine per cent per day was charged. Until the full sum is paid, the interest will continue to be levied ($112,000 a day) withNew York Attorney General Letitia James claiming that she would seize Trump's properties if he fails to pay the fine.

"President Donald J. Trump, Donald Trump Jr, Eric Trump, Allen Weisselberg... hereby appeal to the Appellate Division," read Monday's appeal.

Trump's attorneys argued whetherJudge Arthur Engoron had "committed errors of law and/or fact” and whether he abused his discretion or “acted in excess” of his jurisdiction.

The appeal by the Trump camp means the case with the significant financial jeopardy it brings, will continue well into the presidential campaign as the Republican looks set to win the nomination race.

The judgment

The appeal has been made necessary as the order byJudge Engoron has barred Trump and his sons fromconducting business in New York: Trump for three years and his sons for two.

Moreover, Trump is barred from applying for loans from any New York chartered or registered financial institution during this period.

"Their complete lack of contrition and remorse borders on pathological," Engoron said of Trump and his two sons during the hearing.

Previously,Trump's legal team had requested a 30-day postponement of enforcement, citing the need for an orderly post-judgment process due to its magnitude. However, Engoron rejected this request.

If Trump is unsuccessful at the appellate division, he can ask the state’s highest court, the Court of Appeals, to consider taking his case.

Last year, Trump testified that he had about $400 million in cash, in addition toproperties and other investments. Democrats have latched onto his testimony and argued that he must pay the amount or face actionfrom James.

(With inputs from agencies)