Pay to Play: NY Appellate Court Rules No Stay for Trump on $454M Civil Fraud Penalties


Share post:

ad5b347b 1c72 453d 8803 0b05819331af

Wednesday was a mixed bag for former President Donald Trump on the legal front: He snagged a win with the Supreme Court agreeing to take up the presidential immunity issue in Special Counsel Jack Smith’s D.C. prosecution of him for election interference. But he was dealt a loss by Illinois Circuit Court Judge Tracie Porter, who ordered his name removed from that state’s March 19 primary ballot. 


Supreme Court Will Take Up Trump Immunity Claim

Illinois Judge Removes Trump From State’s Primary Ballot

But of more immediate and negative consequence perhaps was the ruling by New York Appellate Division Associate Justice Anil Singh that the mega-millions in penalties imposed on Trump by Judge Arthur Engoron in the civil fraud trial would not be placed on hold pending his appeal. In other words, Trump must put up the full amount in order to proceed with the appeal. 

Justice Anil Singh temporarily denied the former president’s request to stay the enforcement of the more than $454 million in penalties a different New York judge ordered him to pay for conspiring to alter his net worth to receive tax and insurance benefits.  

Trump had offered to post a $100 million bond while the appeals process plays out, writing in court filings that the staggering judgment made it “impossible” to secure a bond covering the full amount. Posting a bond in the full amount would automatically halt enforcement of the penalties.  

“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,” Trump’s lawyers wrote in a nearly 1,800-page court filing.

There is, however, one bright spot in the ruling: Singh did temporarily stay the application of two other facets of Engoron’s ruling, namely, that the defendants may not apply for loans from New York lending institutions nor serve in an executive capacity in any of Trump’s New York companies. 

In his ruling on Wednesday, Singh lifted a court-ordered ban on Trump’s ability to obtain loans from New York financial institutions to help raise the $454 million. The ruling also allows Donald Trump Jr. and Eric Trump to continue to run the family company, but ordered them to post more than $4 million to cover the cost of their appeals.

From a practical standpoint, then, Trump should (in theory) be able to secure a bond to cover the full amount of the judgment and proceed with the appeal. Still, securing the funds necessary to do so presents a daunting challenge, as explained by George Washington Law professor Jonathan Turley in the below tweet thread: 

Presumably, the Trump team will nevertheless find a way to push forward with the appeals. One thing is for certain: The lawyers are keeping busy. 


Judge Orders Trump to Pay Over $350 Million, Bars From NY Business in Civil Fraud Case

Trump Appeals $450M NY State Fraud Judgment, Calls Out ‘Fake Political Prosecutions’

Exposed: Public Info Reveals New York AG Letitia James Lives High on the Public Hog

Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

WATCH: CNN Reporter’s Play by Play of Man on Fire Incident at Trump Trial Courthouse Has People Talking

As RedState reported, a horrific scene unfolded earlier in front of the Trump trial courthouse in Manhattan,...

Whoops: Biden Just Let the Cat Out of the Bag About Raising Your Taxes If He's Put Back In Office

Joe Biden has frequently claimed that he doesn't want to raise taxes on anyone other than those...

UPDATE: NYPD Reveals Identity of Man Who Set Himself on Fire Outside Trump Trial, in Critical Condition

As RedState’s Brittany Sheehan reported, a male lit himself on fire Friday outside the courthouse where Donald...

When She's Right, She's Right: Lisa Murkowski Finds an Acorn, Slams Biden Administration

Since January of 2021, we've seen how unfriendly to the energy sector, and indeed resource extraction in...

Apple Removes 2 Major Apps in China Because Beijing Said So, While Congress Debates TikTok

On Friday, Apple removed Meta’s WhatsApp messaging app and its Threads social media app from the App Store in...

Sportscaster Stephen A. Smith Lights Dems Up on Trump Lawfare Again, Talks Black Voter Support for Him

Sportscaster Stephen Smith has been lighting up the Democrats over how they have been dealing with former...

Rules Committee Clears Foreign Aid Bills for Vote, Speaker Johnson Leaves 'Motion to Vacate' Rule Alone

The foreign aid bills for Israel, Taiwan, and Ukraine are headed to the House floor for a...

Another State Fights Back Against Big Pharma to Protect Rural Citizens

Another state has joined the growing movement to protect rural citizens against corporations attempting to skirt federal...