Trump was initially ordered to pay the full $464 million, but an appeals court said he could pay a lower amount within 10 days. In February, he was found to have fraudulently inflated property values.
The Republican denies any wrongdoing and says this case is a political witch hunt by the Democratic prosecutor. Last month, in addition to ordering Trump to pay a significant financial penalty, Judge Arthur Engoron banned him from operating a business in New York for three years.
He was also banned from obtaining loans from financial institutions in New York for three years. Forbes magazine currently estimates his net worth at $6.4 billion — more than doubling after the parent company of his social media platform Truth Social went public last week.
Around the same time a judge found him guilty of fraud, Trump had to post $91 million in bail after losing an unrelated defamation lawsuit filed by writer E. Jean Carroll. To delay the imposition of the penalty while he appealed the civil fraud case, Trump initially sought bail from 30 companies but failed to obtain one, his lawyers wrote in court filings.
Trump was found responsible for overstating his net worth by billions of dollars to get better loan and insurance terms. The judge in the New York case found that Trump engaged in fraud by fraudulently overvaluing properties, including his Mar-a-Lago estate in Florida, his Trump Tower apartment in Manhattan, as well as various office buildings and land of golf.
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