Trump Denied Delay on $464M Fraud Penalty

Trump Denied Delay on $464M Fraud Penalty

Former US president Donald Trump pursued multiple avenues to reduce or postpone New York’s judgment, but the judge rejected a request to pay a fraction of the amount owed.

Attempt to Lower Bond Requirement Rebuffed

Lawyers for Trump, his sons, and his company implored the court to let them post a $100 million bond while they appeal, calling the full $464 million “impossible.” They said the judgment plus statutory restrictions are forcing them to scramble to raise funds, likely requiring liquidation of assets at unfavorable terms.

But Justice Singh denied the bid after an emergency hearing while allowing the Trumps to continue borrowing money. His temporary ruling stands until a panel of appeals judges reviews the case. NY Attorney General Letitia James argued there are clear risks Trump could evade payment if not compelled to post the complete bond.

Defense Disputes Judgment as Excessive

Trump’s legal team contends over $350 million of the penalty involves discontinued allegations beyond the statute of limitations. They say the proper amount should have been around $100 million based on remaining counts related to inflating assets. But the AG’s office calls that position meritless since the trial judge already rejected those same statute of limitations arguments.

Wealth Statements Leave Uncertainty

During his April deposition, Trump claimed to have “substantially in excess of $400 million in cash” through his development corporation. However, 2021 financial documents listed just under $294 million in “cash and equivalents.” The AG identified $93 million of that as non-liquid. While trump says his brand value tops $10 billion, it remains unclear whether he can access sufficient funds to satisfy the fraud judgment.

Aklimson Phangcho

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