(ProsperNews.net) – A New York court has allowed Donald Trump and his sons to continue conducting business in the Empire State as he appeals Judge Arthur Engoron’s previous ruling. Last month, a court barred Mr. Trump and his sons, Donald Jr. and Eric Trump, from operating businesses for two to three years and slapped the former President with an interest-accruing fine of almost half a billion dollars. The ruling came after Attorney General Letitia James accused Trump of fraud for falsely valuing his assets for loans and investment purposes.
Donald Trump is appealing the ruling, but New York law states that he can only do so after depositing the fine with the courts. Trump’s attorneys asked the Appeals Court to accept $100 million to stop the clock on the repayment and interest, but this was refused, and Trump was ordered to pay the total amount.
The initial ruling also forbade the Trumps from borrowing money, prompting their attorneys to argue that they would be forced to sell assets to pay the fine, which could not then be re-obtained if the appeal was successful. The new ruling temporarily reverses that decision and allows Mr. Trump to borrow from financial institutions as usual.
The enormous fine has prompted discussion about Trump’s wealth and questions about whether he can afford to run his Presidential campaign as he would like. Nikki Haley, for example, said she believes he is running a sparse campaign because he lacks cash, while others say he is the only recent President to lose money due to his time in the White House. Reagan, the two Bush Presidents, Clinton, and Obama, all reportedly expanded their wealth after their Presidency, whereas Trump is believed to have lost more than a billion dollars.
Nikki Haley recently accused the former President of spending $50 million of GOP funds on his legal bills and said his finances are the reason he refused to debate her one-on-one.
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