Former President Donald Trump is persistently criticizing the $464 million verdict in his civil fraud case in New York, arguing that Judge Arthur Engoron is infringing upon his rights and potentially forcing him to sell his properties at significantly reduced prices.
“Judge Engoron is actually demanding that I deposit hundreds of millions of dollars just to have the opportunity to appeal his absurd ruling,” Trump expressed on his social media platform Tuesday morning. “In simpler terms, he is attempting to deprive me of my right to appeal,” Trump added.
“I would have no choice but to mortgage or sell Great Assets, possibly at significantly reduced prices. And if, by chance, I do win the Appeal, those assets would be lost forever. Does that really make sense?” Trump further explained.
According to a recent appellate court filing, Trump’s attorneys have stated that the former president is encountering significant challenges in obtaining a bond that would meet the requirements of the judgment. These difficulties are being described as insurmountable.
In an attempt to delay the enforcement, Trump’s lawyers requested a stay last month and proposed the provision of a $100 million bond instead. However, the emergency application for a stay made by Trump was denied by a New York appellate judgment. Nonetheless, a panel of judges is currently reviewing Trump’s plea for a delay.
New York Attorney General Letitia James has vehemently opposed the request, asserting that Trump and his co-defendants will employ tactics to evade or complicate the enforcement of the judgment.
Senior Assistant Solicitor Dennis Fan argued last week that there is a substantial risk of defendants evading enforcement or making it more challenging after an appeal if they do not pay the judgment or provide a full bond or deposit.
According to Alan Garten, the general counsel for the Trump Organization, Trump is in a stable financial position and possesses significant assets. However, the size of the judgment necessitates him to utilize his real estate as collateral for the bond. The filing reveals that over 30 companies have declined to assist Trump in obtaining the bond, which he is attempting to secure through a combination of property and cash.
In a series of posts on Monday night, Trump took to his social media platform to express his strong opinions on the bond in the New York civil fraud case judgment. According to him, the bond is “unconstitutional,” “unAmerican,” and “unprecedented.”
In a series of social media posts, Trump echoed his legal team’s arguments, claiming that a bond of this size would be “practically impossible for ANY Company, including one as successful as mine.”
In their ongoing efforts to challenge the judgment, Trump’s attorneys have once again appealed to an appellate court on Monday, seeking permission for Trump to obtain a bond of a reduced amount. They argue that the current judgment is “unconstitutionally excessive.”
Defense lawyers Alina Habba and Clifford Robert argue that selling real estate holdings in a ‘fire sale’ would lead to significant and irreversible financial losses. They describe this situation as a classic example of irreparable injury.
According to James, she is ready to take possession of the ex-president’s assets if he fails to come up with the funds to pay the penalty, as she stated in an interview with ABC News.
According to James, in an exclusive interview with ABC News’ Aaron Katersky in February, if the individual in question lacks the necessary funds to settle the judgment, they will pursue legal avenues for judgment enforcement and request the judge to seize their assets.
The former president has firmly denied any wrongdoing and stated his intention to appeal the decision.
