New York Appeals Court Judge Anil Singh this afternoon rejected an appeal filed by Donald Trump’s attorneys and said he must post a bond or pay in cash the full judgment in the civil fraud lawsuit filed by New York Attorney General Letitia James. Trump and other defendants were found guilty of fraud and falsification of business records and ordered to pay $355 million plus interest of approximately $100 million. The order that the judgment be paid was entered last week by New York Judge Arthur Engoron, who presided at the fraud trial.
The Office of Attorney General (OAG) in opposing the request for an emergency stay this afternoon said that there was no merit to the contention made by Trump’s side that posting a bond or paying cash in the full amount of the judgment was not necessary because the defendants in the case were offering to put up $100 million instead.
“Defendants all but concede … that Mr. Trump has insufficient liquid assets to satisfy the judgment; defendants would need ‘to raise capital’ to do so,” James’ office claimed. “These are precisely the circumstances for which a full bond or deposit is necessary, where defendants’ approach would leave OAG with substantial shortfalls once this Court affirms the judgment.”
James’ office expressed concern that the value of Trump’s real estate holdings might decrease while a full appeals process is underway. The OAG said that the defendants in the case need to cover the full judgment now to ensure that the judgment will be paid to New York state if the defendants lose their appeal of the verdict and judgment.
Judge Singh did put a stay on the section of the ruling by Judge Engoron that prohibits Trump from obtaining a loan from any bank registered in New York for three years. She said that prohibiting him from obtaining such loans might prevent him from raising the money to cover the judgment.
Earlier today, an envelope addressed to Judge Engoron containing a white powder was delivered to the courthouse where Engoron works. It was opened by a court officer who got the powder on his clothing. It was not immediately determined what the powder was, but the court officer did not show signs of a reaction or illness.
