Trump Plans to Post $100 Million Bond in NY Fraud Case

Trump Plans to Post $100 Million Bond in NY Fraud Case

Donald Trump's legal team has announced their intention to post a $100 million bond in the New York fraud case, triggering a response from New York Attorney General Letitia James, who argues that Trump is attempting to evade a significant portion of the court judgment against him.

Trump's lawyers have criticized the $464 million fine as "exorbitant and punitive," attributing their inability to raise the full amount to new lending restrictions imposed by Judge Arthur Engoron.

In response, James' office contends that Trump lacks the necessary "liquid assets" to satisfy the judgment and has threatened to seize valuable Trump real estate assets if required.

Trump's attorneys argue in a recent legal filing that the combination of the hefty judgment and the prohibition on lending transactions imposed by Justice Engoron would make it impossible to secure and post the full bond.

James' team rebutted this argument, asserting that Trump's willingness to post only a partial undertaking demonstrates his insufficient liquid assets to satisfy the judgment fully.

Trump's legal maneuvering comes as he seeks a stay in the enforcement of the $355 million fine, which is accruing interest at a rate of $111,984 per day. His legal team has now revealed plans to pay $100 million to cover the bond, bringing the total amount with penalties and interest to $454 million.

Meanwhile, Judge Engoron received a suspicious substance in the mail at his New York Supreme Court office, prompting an emergency response, though he was not exposed.

Despite the legal back-and-forth, Trump's lawyers argue that it is unnecessary to post a bond covering the full fine due to the oversight of the Trump Organization's independent monitor, suggesting that assets within the organization could be collected by James if necessary.

However, James has vowed to pursue judgment enforcement mechanisms in court if Trump fails to pay, threatening to seize his assets, including prized buildings like 40 Wall Street.

Trump and his legal team have consistently criticized Engoron's fine, labeling the civil and criminal cases against him as a "witch hunt." They have requested a stay in enforcement pending appeal, citing potential irreparable harm to Trump's firm if real estate assets were confiscated.

In a deposition, Trump claimed to have $400 million in cash, which would nearly cover the total amount of fines and penalties. However, James' office has cast doubt on Trump's ability to pay, citing other outstanding judgments against him and the possibility of decreased real estate values during the appeals process.

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