Judge Denies Trump’s Request to Pause $354 Million Judgment in New York Fraud Case

In a significant development in the ongoing civil fraud case against former President Donald Trump and the Trump Organization, Judge Arthur Engoron of the New York State Supreme Court denied Trump’s request to delay the formalization of his decision to enforce the $354 million judgment. The judgment, which includes fines, sanctions, and a three-year ban on Trump serving as an officer or director of any New York corporation, was issued on February 16, 2024.

Trump’s legal team, led by attorney Clifford Robert, had argued for a 30-day stay of enforcement to allow for an orderly post-judgment process. However, Engoron was unconvinced, stating in an email that the proposed judgment accurately reflects the spirit and letter of his decision and that he intended to sign it and send it to the clerk for further processing.

The judge’s denial of Trump’s request comes after he ruled that Trump and the Trump Organization had orchestrated a decade-long scheme to inflate the value of their assets to obtain more favorable loan and insurance terms. The decision barred them from seeking loans from financial institutions in New York for three years and required an independent monitor to oversee the company for the same period. Trump’s two eldest sons were also included in the ruling.

Trump has vowed to appeal the decision and has harshly criticized Engoron and New York Attorney General Letitia James, alleging political motivations. In response to the proposed judgment, Trump’s lawyers objected, arguing that it was an improper, unilateral submission that failed to provide any notice and deprived them of the opportunity to be heard before judgment was entered.

To appeal the judgment, Trump would need to post a bond covering the $354 million in penalties. According to John Coffee, a Columbia University law professor and an expert on corporate governance and white collar crime, this will be costly. Some banks may post the bond for him, but they will require security that can be liquidated easily, which may require the sale of some of his assets.

New York Attorney General James has stated that if Trump does not have the funds to pay the penalty, she is prepared to ask a judge to seize his assets. In an interview with ABC News, she emphasized the importance of ensuring that the judgment is paid to New Yorkers.

The Trump fraud case is just one of several legal battles Trump is facing in New York. In January 2024, he attended closing arguments in his civil fraud trial at New York State Supreme Court in a separate case involving hush money payments to Stormy Daniels. In another case, Fulton County prosecutors declined to call District Attorney Fani Willis back for questioning.

Stefan Becket, managing editor, digital politics, for CBSNews.com, reported on the latest developments in the Trump fraud case. The full decision in the case can be read here. Trump’s attorney, Clifford Robert, and New York Attorney General Letitia James were also quoted in the article.

The article also includes links to related stories, including Trump’s attendance at the closing arguments in his civil fraud trial, the full decision in the case, and Trump’s holding of a campaign rally in Las Vegas. However, as per the rules, these links will not be included in the generated text.

In conclusion, Judge Engoron’s denial of Trump’s request to pause the enforcement of the $354 million judgment in the New York fraud case marks a significant development in the ongoing legal battle. Trump’s team will need to post a bond covering the penalty to appeal the decision, and if they are unable to do so, the attorney general has stated that she will seek to seize his assets. The case is just one of several legal battles Trump is facing in New York, and the outcome will have significant implications for his business and political career.