Donald Trump has to pay $10,000 a day

New York Attorney General Letitia James had demanded tax and accounting documents from Trump, but the ex-president had so far refused to submit the documents. Most recently, a deadline had passed at the end of March. Trump’s attorney, Alina Habba, announced that she would appeal the verdict.

According to the company, all existing documents have already been submitted. However, after a “very thorough” search, there were simply no other relevant documents, she said.

Accusation: Saving taxes to cheat loans

Background are civil investigations against Trump’s corporate empire for possibly fraudulent business practices. It is about the allegation that Trump, before taking office, had inflated the value of his assets to banks when looking for loans. Accordingly, the family holding artificially inflated the value of real estate in order to gain economic advantages and cheap credit.

Conversely, the Trump organization is said to have reduced the value of real estate and companies in order to have to pay fewer taxes or insurance premiums. Trump’s group rejects these allegations.

“No one is above the law”

“Mr. Trump, I know you take your business seriously, and I take mine seriously. I hereby condemn you for contempt of court,” the judge in charge said while announcing the decision, although the former president was not in the courtroom.

The attorney general called the verdict a “major victory” in the legal battle against Trump. “Justice prevailed today,” said James. “For years Donald Trump has tried to evade the law. Today’s verdict makes it clear: nobody is above the law.”

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