Former President Donald Trump is persistently criticizing the $464 million judgment in his New York civil fraud case. He asserts that Judge Arthur Engoron is attempting to deprive him of his rights and warns of the possibility of having to sell his properties at significantly reduced prices.
“Judge Engoron is demanding that I pay hundreds of millions of dollars in order to exercise my right to appeal his unjust ruling,” Trump expressed on his social media platform on Tuesday morning. “In essence, he is attempting to deprive me of my ability to appeal,” Trump added.
“If I were to mortgage or sell Great Assets, I might have to do so at Fire Sale prices. And what happens if I win the Appeal? Those assets would be long gone. Does that sound reasonable?” Trump explained.
According to a recent appellate court filing, former President Trump’s attorneys have stated that he is encountering significant challenges in securing a bond to meet the judgment. They described these difficulties as “insurmountable.”
In an attempt to delay the enforcement, Trump’s legal team requested a stay and proposed securing a $100 million bond. However, a New York appellate judgment denied Trump’s emergency application for a stay last month. Currently, a panel of judges is reviewing Trump’s request for a delay.
New York Attorney General Letitia James resisted the request, stating that Trump and his co-defendants may try to avoid complying with the judgment or create obstacles to enforcement.
Senior Assistant Solicitor Dennis Fan argued last week that there is a significant risk of defendants attempting to evade enforcement of the judgment or making enforcement more difficult after an appeal, if they are not required to pay the judgment or provide a full bond or deposit.
According to Alan Garten, general counsel for the Trump Organization, Trump remains financially stable and possesses substantial assets. However, the size of the judgment necessitates utilizing his real estate as collateral for the bond. Over 30 companies have reportedly declined to assist Trump in securing the bond, which he is attempting to do by leveraging a combination of property and cash.
In a series of social media posts on Monday night, Trump expressed his belief that the bond in the New York civil fraud case judgment is “unconstitutional,” “unAmerican,” and “unprecedented.”
According to a series of posts on his social media platform, Trump claimed that a bond of this size is “practically impossible for any company, including one as successful as mine.” This statement echoes the arguments made by his legal team.
In their latest appeal, Trump’s lawyers are once again seeking permission from the appellate court to grant Trump a bond in a reduced amount. They argue that the current judgment against him is “unconstitutionally excessive.”
Defense lawyers Alina Habba and Clifford Robert assert that selling real estate holdings in a hurry to obtain cash would lead to significant and irreversible losses, resembling a classic case of irreparable harm.
According to James, she is ready to confiscate the assets of the former president if he fails to come up with the necessary funds to pay the fine.
In a February interview with ABC News’ Aaron Katersky, James stated that if the individual lacks the necessary funds to satisfy the judgment, they will pursue legal mechanisms for judgment enforcement. James emphasized their intention to request the judge to seize the individual’s assets.
The former president has firmly denied any wrongdoing and has expressed his intention to appeal the accusations.
