New York Attorney General Warns Court Trump Doesn’t Have Enough Cash to Pay Fraud Penalty
New York Attorney General Letitia James warned the New York appeals court that former President Donald Trump does not have enough cash to pay the $454 million fraud penalty.
Earlier this month, Judge Arthur Engoron ordered the Republican frontrunner to pay nearly $355 million after ruling the Trump Organization committed widespread fraud. The total penalty increases by $112,000 in interest every day Trump does not pay it.
On Wednesday, Trump asked the appeals court to hold the enforcement of the penalties by offering to post a $100 million bond until the full appeals process is completed.
“The exorbitant and punitive amount of the Judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond,” Trump’s attorneys wrote in a Wednesday court filing.
James responded to Trump’s efforts to pause enforcement of the penalty by claiming he does not have enough liquid cash on hand in a letter to the appeals court.
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New York AG asks an appellate court to deny Trump’s application to pause enforcement of the judgment pending appeal, including the disgorgement, monitoring, and loan prohibition.
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— Adam Klasfeld (@KlasfeldReports) February 28, 2024
“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount,” she wrote. “Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment; defendants would need ‘to raise capital’ to do so.”
In addition to the fraud penalty, Trump also owes author E. Jean Carroll $83.3 million after a New York judge found him liable for defaming her earlier this month. Previously, Trump had been found liable for sexually abusing Carroll by a New York jury in a separate case.
