A New York appellate judge has refused to halt collection of Donald Trump’s $454 million civil fraud penalty while he appeals, rejecting the former president’s request that he be allowed to post a bond covering just a fraction of what he owes.

A New York appellate judge on Wednesday refused to halt collection of Donald Trump’s $454 million civil fraud penalty while he appeals, rejecting the former president’s request that he be allowed to post a bond covering just a fraction of what he owes.

Judge Anil Singh of the state’s mid-level appeals court ruled that Trump must post a bond covering the full amount in order to stop enforcement of the judgment. Singh did grant some of Trump’s requests, including pausing a three-year ban on him seeking loans from New York banks — which could help him secure the necessary bond.

Trump’s lawyers told the appellate court earlier Wednesday that Trump was prepared to post a $100 million bond, arguing that the lending ban in the Feb. 16 verdict made it impossible for him to secure a bond for the full amount.

Trump’s lawyers floated the smaller bond offer in court papers as they sought an order from the appellate court preventing New York Attorney General Letitia James’ office from enforcing the judgment while his appeal plays out. Singh ruled that Trump needs to post the full amount, which would pause collection automatically.

  • mr_robot@lemmy.worldEnglish
    30·
    9 months ago

    The appellate judge paused Engoron’s two-year ban on Eric and Donald Trump Jr. holding executive positions in New York corporations, meaning they can continue running the company. He also paused a similar three-year ban that applied to Trump, but said the company must move forward with hiring an independent compliance director to ensure it follows financial reporting obligations and rules.

    That’s more of a concession than I would like to see the courts make. Trump’s lawyers argued that government oversight of the Trump organization is sufficient to secure non-payment of the judgment against him and a bond of just a faction of the judgement amount is merely “additional security”.

    Like if I robbed a bank and after I’m found guilty I tell the court: “I appeal the guilty verdict! But I’m gonna keep most the money while I do. You’re the government, you know where I live, so it’s all good man.”