Donald Trump lost a bid to pause a $454 million civil fraud judgment against him related to overstating his net worth.
While a judge granted a partial stay barring Trump from running NY corporations for 3 years, the judge denied Trump’s request to post a $100 million bond instead of the full judgment amount while appealing.
Trump’s lawyers argued he couldn’t afford the full bond, but the NY Attorney General opposed a stay, noting Trump’s risk of not paying or moving assets out of reach if he loses.
Trump’s lawyers stated the “exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.”
Letitia James countered, “These are precisely the circumstances for which a full bond or deposit is necessary, where defendants’ approach would leave (the attorney general’s office) with substantial shortfalls once this court affirms the judgment,”
Both sides will submit more arguments on whether Trump must post the full bond or bond amount during his appeal of the major fraud judgment and related daily interest that has grown substantially.
