Trump Denied Request to Pause $454 Million New York Fraud Verdict

AP Photo/Manuel Balce Ceneta

A New York judge denied former President Donald Trump’s request to pause the $454 million civil fraud penalty for overvaluing his net worth and real estate.

Associate Justice Anil Singh ruled Wednesday that Trump could not post $100 million bond while the appeals process is completed, according to Reuters. By granting Trump a bond, a bonding company would be financially liable for any payout if Trump loses his appeal and is unable to pay.

However, Singh did grant part of Trump’s request for a stay on the penalty barring him from running a corporation based in New York and applying for loans from a New York bank for three years.

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 has increased to $454 million due to interest accumulating each day the payment is not made.

Two years ago, New York Attorney General Letitia James sued Trump for lying about his net worth in order to mislead investors and obtain better loans terms.

Trump’s lawyers argued in their Wednesday appeal that Trump would suffer “irreparable harm” if the attorney general was free to sell his assets due to a lack of payment. James warned the court that Trump does not have enough cash on hand to pay the full penalty.

The former president also owes author E. Jean Carroll $83.3 million after a New York judge found him liable for defaming her earlier this month. Trump is requesting to avoid paying the full bond until the appeals process is completed in that case as well.

Per Reuters, Singh’s decision still needs to be upheld by a panel of the mid-level New York appeals court before it goes into effect.