Trump pays $175 million bail for tax and financial fraud: trial in mid-April
Donald Trump he paid bail from $175 million to suspend the verdict on his companies' inflated assets while he proceeds with appeals. The bail suspends the huge fine of 454 million that was imposed on him for having inflated the assets of his companies to obtain better conditions from insurance companies and banks.
The payment avoids the seizure of its assets. If Trump's appeals are unsuccessful, the former president will be required to pay the entire fine imposed on him. Trump's estate, the company's largest shareholder with 57 percent of the shares, has lost a billion dollars so far. The disappointing financial data were the driving force: according to the documents presented by the group, the company generated revenues of only 750 thousand dollars in the fourth quarter, with a loss of 39 percent compared to the same period a year ago, a figure which brings the revenue balance in the twelve months to 4.1 million. Rival “X” ended last year with revenues of $665 million.
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