FORMER PRESIDENT TRUMP UNABLE TO SECURE $464 MILLION APPEAL BOND IN NY CIVIL FRAUD CASE
“Trump’s Lawyers Filed An Appeal On Monday To Ask A Panel Of 5 Manhattan Appeals Court Judges To Allow Trump To Avoid Posting A Bond.”
Monday, March 18, 2024, 4:30 P.M. ET. By Jennifer Hodges: Englebrook Independent News, With Reuters Contributing,
MANHATTAN, NY.- Donald Trump’s Lawyers indicated in a Court Filing on Monday, that Former President Donald Trump does not have enough cash on hand to secure an Appeal Bond that would prevent New York Attorney General Letitia James from Seizing his Real Estate Holdings to satisfy a $464 Million Civil Fraud Judgement.
In the Filing, Trump’s Lawyers said, it has proved “impossible” for The Former President to obtain a bond that would secure the Full Amount of Judge Arthur Engoron’s Judgement that he handed down on February 16, 2024, while he appeals Engoron’s Ruling.
Trump’s Filing asks a Panel of Five Manhattan Appeals Court Judges to let Former President Trump avoid having to Post a Bond while he Challenges Engoron’s Verdict that he, The Trump Organization, and other Business Defendants committed Business Fraud by misstating Property Values in order to secure better lending rates.
If the Five Judge Panel does not approve that request, New York Attorney General Letitia James, while campaigning for New York Attorney General vowed that she would get Trump, and could begin the Process of Seizing Trump’s Properties on March 25.
Trump Campaign Spokesman Steven Cheung in a statement said, “A bond of this size would be an abuse of the law, contradict bedrock principles of our republic, and fundamentally undermine the rule of law in New York.”
Manhattan Supreme Court Judge Arthur Engoron ordered The Former President and his Co-Defendants to pay a total of $464 Million in Damages and Interest for Violating a New York Anti-Trust Fraud Statute, a Statute that has never been used under the Consumer Fraud Act.
Judge Engoron ruled that The Former President, his Two Adult Sons, The Trump Organization, and The Company’s Top Executives had Fraudulently Inflated Property Values of Real Estate Assets for Years to secure better Lending Terms and other Financial Benefits.
The Judgement has come under fire by Trump and his Lawyers, due to the fact that there was No Victim. The Former President and his Companies Repaid Every Loan, and The Banks continued to want to do business with him.
Even if The Five Judge Panel rules against Trump’s request, Trump will have the ability to appeal to The U.S. Supreme Court on a Constitutional Challenge under The Eighth Amendment which states “Excessive Bail Shall Not Be Required, Nor Excessive Fines Be Imposed, Nor Cruel And Unusual Punishments Inflicted.”
