Aiexpress – A New York appeals court made a ruling stating that the former President, Donald Trump, is obligated to pay the entire bond amount, which is equivalent to the $454 million civil fraud judgment against him.
In a recent development, the court has made a decision regarding Trump’s request to pause the penalty. Trump had offered to pay a $100 million bond as part of his plea. His attorneys argued that the penalty of $355 million, along with the additional interest, was excessive and punitive.
In a recent ruling, Judge Arthur Engoron of Manhattan Supreme Court has ordered Trump to pay a hefty sum of $355 million. This penalty comes as a consequence of Trump’s submission of fraudulent financial statements, which aimed at inflating the value of the Trump Organization’s real estate properties. Despite the efforts made by Trump’s legal team to postpone the enforcement of the penalty, Judge Engoron denied their request.
Donald Trump, who is currently vying for the GOP nomination for re-election, has been hit with a hefty penalty of approximately $454 million. This sum includes both the penalty itself as well as the accrued interest. Furthermore, as part of the consequences, Trump is prohibited from engaging in any business activities within the state of New York for a duration of three years.
Associate Justice Anil Singh made a ruling on Wednesday, stating that Trump has the option to seek a loan from a New York bank. This would enable him to access funds using the equity of his assets. However, Singh did not grant Trump’s request for a delay in posting the bond.
In their recent filing, Trump’s attorneys argued that the excessive and punitive judgment, along with an unlawful and unconstitutional ban on lending transactions, would make it extremely challenging to obtain and fulfill a complete bond. However, despite these obstacles, the appellants remain determined to secure and post a $100 million bond.
By posting the $100 million bond, Trump’s team maintained that Attorney General Letitia James should feel confident that she can enforce the judgment if needed. James has cautioned that she is ready to pursue legal action to seize Trump’s properties if the penalty remains unpaid.
James made a strong plea to the appeals court on Wednesday, urging them to reject Trump’s request for a stay of the judgment. According to James, there is a high likelihood that the Trump Organization will have to sell its properties in order to pay the penalty.
According to James, the defendants practically admitted that Trump lacks enough liquid assets to meet the judgment.
Trump’s lawyers have filed an appeal of the fraud judgment on Monday. Alina Habba, the attorney representing Trump in the case, expressed her belief that the appeals court will overturn the judgment.
Trump supporters have rallied together and managed to raise an impressive sum of over $1.2 million to assist in covering the penalty imposed on him. This remarkable fundraising initiative was promptly launched by Elena Cardone shortly after Engoron’s ruling. The campaign has garnered an overwhelming response, with more than 22,800 generous donations pouring in. Amongst these contributions is a noteworthy anonymous donation of $10,000, as well as several others amounting to $1,000 or more.
