New York Attorney General Letitia James on Wednesday asked an appeals court to deny former President Donald Trump’s request to reduce or delay collection of $454 million in bail to cover a civil fraud conviction.
Trump must post liquid Trump’s lawyers issued a bond (cash, securities) covering the entire amount of the judgment to suspend enforcement on Monday, but the president told Trump that 30 surety companies would not accept real estate assets as collateral. He announced that he had been notified.
If Trump is unable to post $454 million bail, James could seek to have some of his bank accounts and assets frozen. A crackdown on President Trump could begin as early as March 25th.
new york lawyer claimed On Wednesday, President Trump did not consider all options for issuing bonds. They asked the court to deny Trump’s request to delay collection without bail while his lawyers work through the appeal process, the Associated Press reported.
“That is not possible under the circumstances presented,” the attorneys wrote. They say the underwriters are insisting on cash and other liquid assets rather than real estate as collateral, which would require covering 120% of the judgment amount, or more than $557 million.
Insurance broker Gary Giulietti, a Trump golf buddy who handled some of Trump’s company’s insurance needs and testified in his fraud trial, said in a sworn statement that “a bond of this size… , it is rarely seen, if ever.” Giulietti said the small number offered will go to large publicly traded companies. Trump’s company is private.
But Huang, an attorney with the attorney general’s office, wrote Wednesday that “it is nothing unusual for even multibillion-dollar judgments to be released on full bail on appeal,” citing a small number of cases. . They mainly involved publicly traded companies.
President Trump claims the legal action against him amounts to election interference.
“Judge Engoron is actually asking me to pay him hundreds of millions of dollars for the right to appeal his ridiculous decisions,” President Trump posted on Truth Social on Tuesday. “In other words, he is trying to strip me of my right to appeal, even though I have already won in the Appellate Division, and yet he refuses to accept the decisions they have already made.”
Constitutional law scholar Jonathan Turley believes this financial predicament is a form of “class justice” that could eventually reach the Supreme Court.
His position is that he has to come up with $500 million just to basically appeal, to have another judge look at what I did to you. It’s like a judge saying, “I’m going to take your house away, but you can appeal my decision.” To do that, I have to sell my house. ”…[M]Everyone sees this as a type of mob justice.
And this could exceed New York’s system.They are [Trump’s team] This can be appealed to the Supreme Court. In some cases, the Supreme Court intervenes in state litigation for things like punitive damages, and the damages can be so high as to veto the legal process. In my opinion, this falls into the extreme category. It’s horrifying.
“It shocks my conscience that I have to spend this kind of money just to have someone see what I believe in, and I believe this is an overreach by this judge.” concluded Mr Turley.
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
