Trump Seeks to Postpone $464M Fraud Judgment with $100M Bond Proposal

Written by Henrik Rothen

Feb.28 - 2024 5:45 PM CET

Trump Seeks to Postpone $464M Fraud Judgment with $100M Bond Proposal.

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Former President Donald Trump's legal team is actively seeking to delay the imposition of a hefty $464 million judgment in a civil fraud case, proposing instead to post a $100 million bond.

According to ABC News, this move comes after Manhattan Supreme Court Judge Arthur Engoron levied a significant fine against Trump, including a $355 million fine plus interest, and imposed a three-year prohibition on him from operating any New York-based business.

In a recent legal submission, Trump's attorneys have labeled the judgment as excessively punitive, arguing that the full amount demanded by the court, coupled with restrictions on lending transactions deemed unconstitutional, presents an unrealistic expectation for securing a complete bond.

Consequently, they plan to secure a $100 million bond, asserting that the magnitude of the judgment, alongside an existing independent monitor over the Trump Organization, should suffice to assure the New York Attorney General, Letitia James, of the judgment's collectability if necessary.

Trump's defense, led by Clifford Robert and Alina Habba, criticizes the judgment as overly harsh and potentially detrimental to the Trump family's real estate ventures, describing the court's decision as unsupported by evidence and in violation of constitutional provisions against excessive fines and due process infringements.

The defense also highlights concerns over the New York Attorney General's stated readiness to seize Trump's assets if the judgment is not satisfied, portraying the judgment as a threat not only to Trump but to the broader New York business community, by undermining the validity of legitimate commercial transactions.

The request for a stay on the judgment's enforcement is pending while Trump's legal team appeals Judge Engoron's ruling, which found Trump and associated parties guilty of extensive fraudulent activities aimed at inflating Trump's net worth to secure favorable loan conditions. This ruling demands that Trump, his sons, and former executives of the Trump Organization pay a total of $464 million for their misconduct.

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