Trump loses bid to stay contempt of court ruling – must continue paying $10K-per-day fine

According to a breaking news report from CNBC News, former President Donald Trump lost his bid to stay a contempt of court order from a New York judge on Tuesday.

"An appeals court has DENIED Donald Trump's request to pause $10,000 a day in fines while he appeals a judge's civil contempt order. @NewYorkStateAG confirms Trump's getting billed on weekends, too. By tomorrow, he'll owe $100,000 and counting," said New York Daily News reporter Molly Crane-Newman.

Trump was found in contempt for failing to comply with a subpoena for documents from Attorney General Letitia James.

“We have a judge that frankly has been unbelievably unfair,” Trump told Bloomberg News on Monday, after seeking to stay the order.

James successfully argued late last month that Trump was in violation of a court order to produce the accounting and tax documents to her investigators by March 31.

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In January, James said her investigation had uncovered evidence suggesting the fraudulent valuing of multiple assets and misrepresentation of those values for economic benefit.

Among the assets listed was Trump's penthouse in Manhattan's Trump Tower, which was claimed to be three times bigger in size than it actually was, overestimating its value by $200 million.

James can sue the Trump Organization for damages over any alleged financial misconduct but cannot file criminal charges.

The Trumps have claimed that James, who was elected to her position and is a member of the Democratic Party, is running a politically motivated probe.

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In February, Trump and his children Don Jr and Ivanka were ordered by a judge to submit to questioning under oath. That order is under appeal.

James's probe is one of several legal battles in which the former president is embroiled.

The Trump Organization is also under investigation by the Manhattan District Attorney for possible financial crimes and insurance fraud.

Last July the Trump Organization and its long-serving finance chief, Allen Weisselberg, pleaded not guilty in a New York court to 15 felony fraud and tax evasion charges.

His trial is due to begin in the middle of this year.

With additional reporting by AFP