On a day marked by a strong performance in the GOP Michigan primary, Donald Trump found himself on the losing side of a legal hurdle. His aspiration to defer the $464 million judgment from an NY fraud trial encountered a roadblock. This ordeal marks his second attempt to cease the daily interest of $112,000 on the judgment.
Emulating a familiar strategy, Trump proclaimed a degree of impoverishment and acknowledged potential real estate sales should the court reject his stay appeal. As anticipation builds around an impending appeal, Trump and his attorneys proposed a comparatively modest $100 million bond to freeze court proceedings, which Associate Justice Anil C. Singh rejected.
Trump Fortunes Swing, Judgment Enforcement Proceeds
The NY Appellate Court showed flexibility in staying the ban on Trump and his sons serving as corporate directors or obtaining business loans during their subsequent appeal. Yet, the monetary judgment remains in force, with Justice Singh asserting that "the interim stay is denied as to the enforcement of monetary judgment." With expectations now exceeding $550 million, according to Trump's attorneys, the weight of the financial verdict is bearing heavily.
Trump now has a deadline. He must amass the funds by March 25, a seemingly daunting task. Should he fall short, State Attorney General Letitia James has pledged to seize Trump assets, including but not limited to bank accounts and the famed Trump Tower.
Appeal Anticipated Amid Severe Penalties
However, before any seizure can occur, a full panel of NY's First Department of the Appellate Division is expected to deliberate on a stay while Trump continues his appeal. Today's ruling enables Trump to pursue a loan to offset the escalating court judgment.
A precedent was set in September 2023 when Justice Arthur Engoron ruled Trump, at 77, liable for bank fraud, imposing an initial fine of $354 million. Following a bench trial, the penalty was levied on February 16 against Trump, his sons, associates, and business entities.
An additional $83.3 million has been added to the tally, deemed by a NY jury to be owed to E. Jean Carroll for an attack. Carroll won a trial alleging Trump sexually assaulted her in a department store in the 1990s.
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Piling On Legal and Financial Woes
Trump, ruled guilty of sexually abusing and defaming Carroll in May 2023, is now also faced with a $5 million payment won by the former Elle columnist. Despite not making a payment, Trump's attorneys have expressed their intent to appeal the Carroll defamation verdict, seeking a payment delay until all post-trial matters are addressed.
Today marked a pivotal moment. With Trump confessing he lacks the cash to cover the now over $460 million fine that grows daily, AG James's long-held assumptions regarding Trump's exaggerated wealth appear to hit the mark.
Coupled with a Political Battle
Trump's ongoing legal battles stand alongside his political ambitions as he is entangled with incumbent Joe Biden in a tightly contested 2024 rematch. While Trump's supporters steadfastly claim his legal tangles are causing no harm to his base, rally attendance tells a different tale. Rally crowd sizes have diminished, and a GoFundMe campaign with a goal of $355 million to offset the NY civil fraud judgment has garnered only $1,276,615 from approximately 22,000 donors since February 16. The future, both legally and politically, remains uncertain for Donald Trump.
