Donald Trump appeals $450 million fine imposed in New York

Following Judge Engoron's ruling, $112,000 a day is added in interest.

Donald Trump's legal team appealed a New York court's decision to fine him $454 million Monday. The former president's legal representatives had announced last week their intention to appeal the court's decision, which sentenced Donald Trump for fraudulently declaring his assets.

According to the appeal filed Monday in New York, the Republican is asking a court to offer a second verdict, alleging that Judge Arthur Engoron made "errors" in addition to "abusing his discretion and/or jurisdiction."

Donald Trump thus challenges the New York Justice Department, which ordered him to pay a $355 million fine for incorrectly declaring assets. Every day that the former president does not pay, $112,000 in interest is added to the total, according to AP, although the appeal will halt the interest. If he does not have the means to pay, the New York Justice Department would begin to seize the former president's assets.

Along with the fine, Judge Engoron also prohibited Trump and his associations from doing business in New York. The judge's decision was harshly criticized. Last week, business magnate Kevin O'Leary said doing business and investing in New York state was no longer worth it or safe. "It's a losing state," the businessman said during an interview with Fox.

This is not the only trial that will affect the former president's pockets. He was also sentenced to pay a severe fine of $84 million, with court costs, to writer Jean E. Carroll, with whom he has been in a legal battle for more than a year.