Smiley face
Weather     Live Markets

Former President Trump is facing a deadline to post a $454 million bond following his civil fraud trial, with the deadline set by New York Attorney General Letitia James for the end of Monday. Trump and his legal team are appealing the judgment, calling the bond requirement unprecedented for a private company. Trump has vowed to fight the case all the way to the U.S. Supreme Court if necessary, claiming that he has nearly $500 million in cash and can afford to post the bond, but is pushing to appeal the ruling altogether. Despite the legal battle, James has taunted Trump about the interest he owes on the civil fraud judgment and has indicated that if he does not post the bond by the deadline, she may begin taking steps to enforce the judgment, including seizing his properties or freezing his bank accounts.

James could potentially begin seizing Trump’s properties or freezing his bank accounts if he does not post the bond, with her office able to file liens on his property and attempt to foreclose through the liens. However, each party is eligible to object and request the court to stop James’ efforts. Although seizing or placing liens on properties outside of New York would be more difficult for James, she has indicated that she is prepared to enforce the judgment if necessary. Trump, on the other hand, has expressed confidence in his ability to post the bond and is focusing on appealing the ruling rather than complying with the order to post the funds.

Trump has criticized the judge in the case, Arthur Engoron, and accused him of disrespecting appellate court decisions that ruled in Trump’s favor. Trump has vowed to fight the judgment through the court system and has criticized both Engoron and James as political operatives for Democrats. Despite Engoron’s ruling against Trump and other defendants, a recent appeals court decision allowed Trump and his sons to continue running the family business as they appeal the decision. Throughout the trial, Trump denied any wrongdoing, with his legal team arguing that the financial statements in question did not violate accounting principles and that there was no evidence of accounting fraud.

The trial against Trump and the Trump Organization stemmed from a lawsuit filed by James, accusing them of fraudulent business practices. Engoron ruled in favor of James, finding Trump and other defendants liable for various charges including fraud and conspiracy. While the case has been contentious, with Trump dismissing it as a witch hunt and accusing the judge and attorney general of bias, the legal battle continues with Trump vowing to appeal the decision to the highest court in the land if necessary. Despite the ongoing legal challenges, Trump remains defiant and confident in his ability to fight back against the judgment and clear his name.

Share.
© 2024 Globe Echo. All Rights Reserved.