Donald Trump’s property saved from confiscation, court gives lifeline, gets 10 more days’ time

Vardhan


New York. Former US President Donald Trump has got a lifeline from a New York court. In a case of fraud in business, Donald Trump was asked to deposit $454 million, about half a billion dollars. If he did not do so, his property would be confiscated. But Trump had appealed to the court to immediately stop this amount, which the court accepted and reduced the amount and said that if he deposits $175 million within 10 days, his property will be saved from being confiscated. This case is related to the 2016 presidential election in which Trump is accused of giving a huge amount of money to a woman in exchange for hiding their intimate details.

The risk of losing property
Trump is leading the preparations to contest the US presidential election this time too but his wealth is decreasing day by day. In this situation, the sword of losing his wealth was hanging over him. In such a situation, this decision of the court is a relief. An appellate court of New York on Monday agreed to give relief to former President Donald Trump in a fraud case if he deposits 175 million US dollars within 10 days. If he does so, the court will stop the government from seizing his property until he appeals. Trump’s company is facing so much problem of money that he wants to sell his property at a discount.

Was asked to deposit 450 million dollars
The development came just before New York Attorney General Letitia James was set to begin efforts to gather information on the decision. Earlier this week, Trump’s lawyers asked a provincial appellate court to block his collection of $454 million. A ruling in this regard was issued by the state’s intermediate appellate court, the appellate division of the state’s lower court, where Trump is fighting to overturn a judge’s February 16 ruling. The said decision found that he had lied about his wealth and inflated the real estate empire that helped propel him to the presidency.

FIRST PUBLISHED : March 26, 2024, 04:06 IST

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