A New York appeals court has temporarily paused a $454 million judgement against former President Donald Trump on Monday.
The five-judge state appeals court panel will temporarily prevent the enforcement of the judgement if Trump posts a $175 million bond within 10 days.
The decision arrives on the same day Trump was ordered to post a bond for the original judgement amount – a feat his attorneys referred to as a “practical impossibility” after being denied by about 30 surety bond companies.
Prior to the appeals court’s ruling, there was speculation that New York Attorney General Letitia James would begin seizing properties from the former president.
“Shortly after Judge Arthur Engoron handed down his Feb. 16 verdict against Trump in the case, James’ team formally registered the judgments in Westchester County, indicating that his properties there may be in jeopardy,” The New York Post reports. “James’ team made the filing on March 6 without providing a name of specific Trump assets or a reason for doing so. Trump’s properties there include Trump National Golf Club Westchester as well as the 212-acre Seven Springs estate.”
A report from Newsweek suggested James would have also attempted to seize cash from Trump’s accounts.
"He'll either have to put up the cash or secure a bond by Monday, or James' office will begin the process of seizing his cash and properties,” former federal prosecutor Neama Rahmani told the outlet. “James will first try to seize cash in bank accounts, then property in New York, then property in other states.”
In a recent Truth Social post, Trump accused James, Engoron, and the White House of colluding to commit “ELECTION INTERFERENCE.”
“Why should a Crooked, highly political New York Judge, Arthur Engoron, working in concert and coordination with an even more Corrupt Attorney General, Letitia ‘Peekaboo’ James, his Puppet Master, and the White House, be allowed to take away, and sell off, very successful properties and assets that took me years to zone, build and nurture into some of the best of their kind anywhere in the World - WHEN I HAVE DONE NOTHING WRONG!” he wrote. “These Radical Left Lunatics and Communists ask me to pay a ridiculous and completely unheard of fine of over $450,000,000 only because they saw a similar amount in my bank account. I had intended to use much of that hard earned money on running for President. They don’t want me to do that.” Why should a Crooked, highly political New York Judge, Arthur Engoron, working in concert and coordination with an even more Corrupt Attorney General, Letitia “Peekaboo” James, his Puppet Master, and the White House, be allowed to take away, and sell off, very successful…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) March 25, 2024
“The appeals court order Monday also paused the enforcement of other penalties, including those barring Trump and top executives from serving in top leadership positions in New York businesses for several years,” The Hill reports. “The order did not pause the role of an independent monitor installed by the lower court to keep an eye on the Trump Organization’s business dealings, nor the installation of an independent director of compliance.”
The outlet added that if Trump posts the $175 million bond, James cannot seize any of the former president’s assets until a ruling is issued on the appeal.
James’ office issued a statement noting that the judgement remains in place.
“Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization,” the office said in a statement quoted by Associated Press.
In a March 22 Truth Social post, Trump claimed to have the money needed to cover the bond.
“THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT,” Trump posted on his Truth Social account on March 22, in his signature format of using all capital letters.
“THE OFTEN OVERTURNED POLITICAL HACK JUDGE ON THE RIGGED AND CORRUPT A.G. CASE, WHERE I HAVE DONE NOTHING WRONG, KNEW THIS, WANTED TO TAKE IT AWAY FROM ME, AND THAT’S WHERE AND WHY HE CAME UP WITH THE SHOCKING NUMBER WHICH, COUPLED WITH HIS CRAZY INTEREST DEMAND, IS APPROXIMATELY $454,000,000,” he added.
Adrian Norman contributed to this report.
