Donald Trump Offers $100 Million Bond to Halt $454 Million Civil Fraud Penalty

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ICARO Media Group
Politics
28/02/2024 21h02

The offer was made in court as they argued that certain provisions of the judgment make it unfeasible for Trump to secure a bond for the full amount. Trump's legal team filed court papers requesting an order from New York's mid-level appeals court to prevent the state's Attorney General Letitia James' office from enforcing the massive judgment while his appeal process is ongoing.

During an emergency hearing on Wednesday, an appeals court heard arguments and a decision from a judge is expected to be issued promptly. Trump's lawyers emphasized that a particular provision within the ruling impedes them from obtaining a bond that covers the entire judgment, citing an unlawful prohibition on lending transactions imposed by the judgment.

Attorney General James' office opposes Trump's offer, asserting that he seemingly lacks the liquid assets necessary to satisfy the judgment. James had previously indicated that she would pursue seizing some of Trump's assets if he failed to meet the obligations. The ruling, issued by Judge Arthur Engoron, accused Trump, his company, and top executives, including his sons Eric and Donald Trump Jr., of orchestrating a scheme to deceive financial institutions and insurers by inflating his wealth on financial statements.

In an unfortunate turn of events, white powder was discovered in an envelope addressed to Judge Engoron at his Manhattan courthouse, marking the latest security scare involving the judge, who has reportedly faced various threats and harassment since the onset of Trump's trial. Trump filed his appeal earlier this week, questioning alleged errors of law and jurisdiction by Judge Engoron.

The deadline for Trump to secure a stay and halt the enforcement of the judgment is March 25th. His legal team has highlighted his considerable real estate assets and oversight directives mandated by the ruling as sufficient security for the judgment. Trump asserts his net worth to be in the billions and has pointed out having significant cash assets and investments. With multiple civil court judgments against him totaling at least $543.4 million, Trump faces a complex legal battle to appeal the recent rulings and halt the hefty penalties imposed on him.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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