Trump appeals potentially ruinous fraud ruling

Donald Trump has appealed the massive New York civil fraud judgment against him.

The former president's lawyers filed a notice of appeal Monday asking a state appeals court to overturn Judge Arthur Engoron's finding that Trump lied about his wealth to secure loans and insurance and build his real estate empire. He was penalized with $355 million in damages.

With interest, the amount he owes had already grown to $454 million by Friday, and increases by nearly $112,000 per day until it's paid, reported the Associated Press.

Trump's lawyers asked the state's mid-level appeals court to decide whether the judge “committed errors of law and/or fact” and whether he abused his jurisdiction.

Engoron found the ex-president and his two eldest sons, who are executives at Trump Organization, liable for years of fraudulent financial statements used to secure loans and set limits on the family and its company from doing business.

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He also ordered that Trump could not do business in New York for three years, and could not secure loans from banks that do business in New York.

That ruling has raised questions about what options were open to Trump to find the cash to pay the damages — some some onlookers suggesting that he might have to rely on a wealthy donor or even a foreign nation for the money.

Trump also owes $83 million to E. Jean Carroll, after being convicted in an unrelated defamation case. On Friday, attorneys for Trump requested a stay in Manhattan federal court. After a five-day trial in January, a jury awarded Carroll $83.3 million for defamation after Trump said that he did not rape her.

Trump's lawyers argued that the award was "plainly excessive" because they said it violates the U.S. Constitution. But a request to suspend the verdict was quickly denied.