A New York appellate judge on Wednesday refused to halt collection of Donald Trump’s $454 million civil fraud penalty
While he appeals, rejecting the former president’s request that he be allowed to post a bond covering just a fraction of what he owes.
Judge Anil Singh of the state’s mid-level appeals court ruled that Trump must post a bond covering the full amount in order to stop enforcement of the judgment.
Singh did grant some of Trump’s requests, including pausing a three-year ban on him seeking loans from New York banks — which could help him secure the necessary bond.
Trump’s lawyers told the appellate court earlier Wednesday that Trump was prepared to post a $100 million bond, arguing that the lending ban in the Feb. 16 verdict made it impossible for him to secure a bond for the full amount.
Trump’s lawyers floated the smaller bond offer in court papers as they sought an order from the appellate court preventing New York Attorney General Letitia James’ office from enforcing the judgment while his appeal plays out. Singh ruled that Trump needs to post the full amount, which would pause collection automatically.
In all, the Republican presidential front-runner and his co-defendants owe more than $465 million to the state. They have until March 25 to secure a stay, a legal mechanism pausing collection while he appeals, or they’ll be forced to pay the monetary penalty or risk having some of their assets seized.
“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 lawyers Clifford Robert, Alina Habba and Michael Farina wrote in their request.
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