GoFundMe Launched For Billionaire Donald Trump Loses Steam After 2 Months, Stalls At $2 Million

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A GoFundMe campaign launched for former President Donald Trump to pay his $355 million fine from his New York civil fraud lawsuit has slowed significantly since reaching the $2 million milestone.

The funds will reportedly be used for "Trump's defense in the New York civil fraud case, its appeal, and any associated expenses." Trump recently posted a $175 million bond to halt the enforcement of the judgment while he appeals the verdict.

The Donald Trump GoFundMe Has Only Raised $2 Million Out Of $355 Million Fine

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Earlier in the year, Trump was fined $355,000,000 as part of a civil fraud case ruling. Around that time, a die-hard MAGA supporter launched a GoFundMe to help the former president raise the funds to pay the fine.

After the GoFundMe page was opened, donations quickly poured in, reaching a million dollars within a week. While this rapid progression seemed to have suggested that a significant amount of money would be raised in no time, that now seems unlikely.

As of now, the fundraiser has stalled just after hitting the $2,000,000 mark thanks to nearly 40,000 MAGA donors, with only a few donations coming in recent days.

It is unclear for how long the page will remain open to continue raising funds. However, a recent update from the organizer, Elena Cardone, emphasized that the funds would be used for "Trump's defense in the New York civil fraud case, its appeal, and any associated expenses."

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In a recent update, Elena, the wife of multi-millionaire real-estate mogul Grant Cardone, revealed that she will be transferring any cash raised to the Patriot Defense Fund to be used for "Trump's defense."

She wrote, "We're thrilled to share the incredible milestone of raising $2 million. The funds we have raised together will be delivered to the Patriot Legal Defense Fund and will solely be used for President Trump's defense in the New York civil fraud case, its appeal, and any associated expenses."

Although Trump never publicly acknowledged the existence of the GoFundMe, Elena claimed in a previous update that she was in contact with Trump's team to ensure the ex-president accepted the cash raised.

The Former President Was Fined For Inflating His Assets

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Judge Arthur Engoron, the presiding judge over the civil fraud case, fined the former president a jaw-dropping amount for inflating his assets while building his real estate empire.

As part of his 92-page ruling, he also barred Trump from taking on any director or officer role in corporations within New York or seeking loans from financial institutions within the state. He stated that the ban would last for three years.

Trump's sons, Donald Jr. and Eric, were also fined $4 million for helping their father commit the fraud. Like him, they were barred from taking up positions in New York-based organizations. However, the time limit was restricted to two years.

His Lawyers Appealed The Fraud Ruling

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Trump's lawyers, who vowed to appeal the verdict, filed notice in late February to begin the process.

In the filing, they wrote to the appellate court to review whether Engoron "committed errors of law and/or fact" and if he misused his discretion or "acted in excess" of his jurisdiction.

"We trust that the Appellate Division will overturn this egregious fine and take the necessary steps to restore the public faith in New York's legal system," Trump attorney Alina Habba told the press, per NBC.

Meanwhile, after the verdict, Trump slammed it as an "unAmerican judgment" and said it was a case of "election interference" and "witching hunting." At the time, he had also claimed that Engoron was "crooked" and described the attorney general, Leticia James, who brought the case, as "corrupt."

Donald Trump Posted Bond To Halt Enforcement Of The Judgment

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Trump required a legal mechanism known as a stay to pause the enforcement of the judgment while he appealed. In this regard, the Republican presidential front-runner posted a $175 million bond after an appeals court determined that the entire fine didn't need to be furnished as the bond.

Posting the bond helped Trump block NY AG Letitia James from making the move to seize his assets, which she had previously promised to do as a means of enforcing the verdict from Engoron.

The bond was provided by Knight Specialty Insurance Co. after the former president initially found it difficult to find a firm willing to partner with him.

After the bond was posted, James asked for it to be voided, citing that the insurance company lacked authorization to issue bonds in New York. However, Trump's lawyer argued that the funds would remain untouched in the account unless approved by the insurance company.

In the end, Engoron approved a deal to ensure that the insurance company had exclusive control of the money's account.