An appellate court ruled that President Trump can post a $175 million bond to cover Letitia James’ $464 million judgment.
Trump has 10 days to post the bond.
Marxist New York Attorney General Letitia James last Thursday took the initial step to seize Trump’s assets. She filed judgments in Westchester County where Trump’s private estate and golf course named Seven Springs is located.
President Trump had until Monday to either pay the judgment or convince the appellate court to allow him to defer the payment pending appeal.
Trump’s legal team filed an appeal and requested a stay on the massive $464 million judgment.
On Thursday, Trump’s attorneys sent a letter to the Appellate Division of New York’s Supreme Court and asserted Letitia James’ actions are “unconstitutional.”
The appellate court intervened on Monday and ruled Trump can post $175 million bond.
“It is ordered that the motion is granted to the extent of staying enforcement of those portions of the Judgment (1) ordering disgorgement to the Attorney General of $464,576,230.62, conditioned on defendants-appellants posting, within ten (10) days of the date of this order, an undertaking in the amount of $175 million dollars,” the two-page order from the appellate said, according to ABC News.
ABC News reported:
A New York appellate court has ruled that former President Donald Trump can post a lower bond to cover his $464 million civil fraud judgment.
The Appellate Division, First Department said Trump can post a bond “in the amount of $175 million” to cover the judgment.
Trump’s attorneys had argued obtaining a bond for the full amount of $464 million was a “practical impossibility.”
The panel of five judges also opted to delay enforcement of the $464 million judgment by ten days.
President Trump responded to the appellate court’s ruling.
“Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him – A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!” Trump said in a Truth Social post.
In a follow up post, Trump demanded Letitia James and Judge Engoron explain why he ruled that Mar-a-Lago was only worth $18 million.
“Judge Engoron and Letitia James should be forced to explain why he ruled that Mar-a-Lago was worth $18,000,000 when, in fact, it is worth from 50 to 100 times that amount. How did the Attorney General of the State of New York force this Corrupt Judge to do that in order to help her narrative – AND WHY?” Trump said.
Trump reacted to the New York Appeals Court ruling after he stepped out of the courthouse in Manhattan.
“New York state is being battered by his decision, so I greatly respect the decision of the appellate division,” Trump said.
WATCH:
🚨 President Donald J. Trump Reacts to New York Appeals Court Ruling pic.twitter.com/AsTD0MWKAo
— Team Trump (Text TRUMP to 88022) (@TeamTrump) March 25, 2024
via thegatewaypundit