What you should know
- A New York appeals judge on Wednesday refused to halt the collection of Donald Trump’s $454 million civil fraud fine while he appeals, rejecting the former president’s request to be allowed to post bail covering only a fraction of what you owe.
- Judge Anil Singh of the state’s mid-level appeals court ruled that Trump must post bail covering the full amount to stop the execution of the sentence. Singh agreed to some of Trump’s requests, including lifting a three-year ban that prevented him from borrowing from New York banks, which could help him secure the necessary bail.
- Trump’s lawyers told the appeals court earlier Wednesday that Trump was willing to post $100 million bail, arguing that the loan ban in the Feb. 16 verdict made it impossible for him to get bail for the full amount.
NEW YORK — A New York appeals judge on Wednesday refused to halt the collection of Donald Trump’s $454 million civil fraud fine while he appeals, rejecting the former president’s request to be allowed to post bail covering just a fraction of what you owe.
Judge Anil Singh of the state’s mid-level appeals court ruled that Trump must post bail covering the full amount to stop the execution of the sentence. Singh agreed to some of Trump’s requests, including lifting a three-year ban that prevented him from borrowing from New York banks, which could help him secure the necessary bail.
Trump’s lawyers told the appeals court earlier Wednesday that Trump was willing to post $100 million bail, arguing that the loan ban in the Feb. 16 verdict made it impossible for him to get bail for the full amount.
Trump’s lawyers raised the smaller bond offer in court papers as they sought an appeals court order blocking New York Attorney General Letitia James’ office from enforcing the ruling while his appeal plays out. Singh ruled that Trump must release the full amount, which would automatically pause the collection.
In total, the Republican presidential front-runner and his co-defendants owe more than $465 million to the state. They have until March 25 to get a stay, a legal mechanism that suspends collection while he appeals, or they will be forced to pay the monetary fine or risk having some of their assets seized.
“The exorbitant and punitive amount of the sentence, coupled with an illegal and unconstitutional blanket ban on credit transactions, would make it impossible to secure and post full bail,” Trump lawyers Clifford Robert, Alina Habba and Michael Farina wrote in their request. .
James’ office opposed Trump’s plan, saying his lawyers have all but admitted that he has “insufficient liquid assets to satisfy the judgment.”
“These are precisely the circumstances for which a full bond or deposit is necessary,” wrote Deputy Attorney General Dennis Fan, saying Trump’s offer would leave James’ office and the state “with substantial deficits” if the verdict.
“The prevailing plaintiff is entitled to assurances of damages, and defendants have never demonstrated that Mr. Trump’s liquid assets could satisfy the full amount of the judgment,” Fan wrote.
James, a Democrat, has said she will seek to seize some of Trump’s assets if she cannot pay the judgment.
Judge Arthur Engoron found that Trump, his company and top executives, including his sons Eric and Donald Trump Jr., conspired for years to deceive banks and insurers by inflating his wealth in financial statements used to guarantee loans and close deals.
Among other sanctions, the judge imposed strict limitations on the ability of Trump’s company, the Trump Organization, to do business. The documentation to make the sentence official was presented on February 23. That began a 30-day period for Trump to pay up or file an appeal and request a stay.
Also on Wednesday, white powder was found in an envelope addressed to Engoron at his Manhattan courthouse. Authorities said preliminary testing showed the result was negative for hazardous substances and no injuries were reported.
In January, hours before closing arguments in the case, authorities also responded to a bomb threat at the judge’s home. Engoron Chambers have reported hundreds of harassing and threatening calls, emails, letters and packages since the start of Trump’s trial in October.
Trump filed his appeal on Monday. His attorneys are asking the state trial court’s Appellate Division to decide whether Engoron “made errors of law and/or fact” and whether he abused his discretion or “acted in excess” of jurisdiction. of the.
Trump was not required to pay his fine or post bail in order to appeal, and filing the appeal did not automatically stop the execution of the sentence.
Trump would receive an automatic suspension if he provided money, assets or an appeal bond that covers what he owes. He also had the option, which he now exercises, of asking the appeals court to grant him a bail continuance for a lesser amount.
Trump’s lawyers argued that Trump’s vast real estate assets and the oversight required by the Engoron ruling, including oversight of his company by an independent monitor, “would alone be sufficient to adequately ensure any confirmed conviction.”
The $100 million bond, they said, “would simply serve as additional collateral.”
Trump maintains he is worth several billion dollars and testified last year that he had about $400 million in cash, plus property and other investments.
In total, Trump has at least $543.4 million in personal legal liabilities stemming from the Engoron ruling and two other civil court rulings in the last year.
In January, a jury ordered Trump to pay $83.3 million to writer E. Jean Carroll for defaming her after she accused him in 2019 of sexually assaulting her in a Manhattan department store in the 1990s. to the $5 million a jury awarded Carroll in a related trial last year.
2024-02-28 23:36:45
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