A New York Court of Appeals judge denied former President Trump’s request to delay payment of $464 million owed to the state after Attorney General Letitia James’ lawsuit, but the 2024 front-runner and his son He said he would temporarily allow the companies to continue operating during his term as attorney general. Appeal procedure.
Earlier this month, President Trump and his sons Donald Jr. and Eric Trump were banned from operating a business in New York for two to three years. Trump was also found liable for hundreds of millions of dollars in damages in a civil fraud case filed by New York Attorney General Letitia James against him, his family, and the Trump Organization.
Trump banned from business, ordered to pay more than $350 million in New York civil fraud case
The former president is appealing the ruling.
But on Wednesday, a New York Court of Appeals judge ruled that the former president must post the full amount of his judgment as bond and that an independent compliance director be appointed.
New York’s attorney general says he is “prepared” to ask a judge to seize assets if former President Donald Trump cannot pay the $354 million judgment handed down in his civil fraud case. (ABC News/Screenshot/Brendan McDiarmid Poole/Getty Images)
A judge will temporarily allow Trump and his sons to continue operating while they appeal the decision.
This filing is a temporary order before the motion is filed with the Court of Appeals. Letitia James’ brief to the committee is scheduled for March 11th, and Trump’s response is scheduled for March 18th.
The ruling was handed down in early February by New York Judge Arthur Engoron following a months-long trial that began in October and stemmed from James’ lawsuit alleging that the former president had inflated his assets and committed fraud. This was carried out after the verdict was handed down.
Engoron said Trump and the defendants committed “persistent and repeated fraud,” “falsifying business records,” “issuing false financial statements,” “conspiracy to falsify false financial statements,” “insurance fraud,” The court found him liable for “conspiracy to commit insurance fraud.” . ”
The judge also barred Donald Trump Jr. and Eric Trump from serving as officers or directors of any New York business or corporation for two years.
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Engoron also alleged that the Trump Organization’s former chief financial officer, Allen Weisselberg, and its former executive director, Jeffrey McConney, “are responsible for the financial management functions of a New York corporation or similar entity registered and/or chartered in the State of New York.” “permanently” prohibited from engaging in “In the State of New York,” he shall serve for three years as a director of a New York corporation or other corporation located in New York.
Judge Arthur Engoron presides over the Trump Organization civil fraud trial in New York State Supreme Court in New York City on November 13, 2023. (Erin Schaff/Pool/AFP via Getty Images)
New York Attorney General Letitia James filed a lawsuit accusing President Trump and the Trump Organization of deceptive business practices. The court proceedings were contentious, with Engoron repeatedly defeating Trump. partial gag order This is to prevent him from criticizing court officials.
James was seeking $370 million from Trump, plus 9% interest on the penalty. Funds awarded will be transferred to the New York State Treasury unless otherwise directed by the State Comptroller.
Throughout the trial, President Trump dismissed the trial as a “witch hunt” and criticized both parties. Engoron and James Serving as a political operative for the Democratic Party. Trump’s lawyers He also repeatedly criticized the lack of jurors in the trial.
“A jury trial was never an option,” President Trump’s press secretary told Fox News Digital last month. “It is unfortunate that a jury will not be able to hear how absurd the merits of this case are and conclude that no wrongdoing occurred.”
New York Attorney General Letitia James sits in court in the fraud trial of former President Donald Trump and his children on Friday, Nov. 3. (Dave Sanders Poole/Getty Images)
Trump and his family have denied any wrongdoing, and the former president said his assets were undervalued. Trump’s lawyers argued that there was a disclaimer in his financial statements and made it clear that banks should conduct their own evaluations.
Judge imposes partial gag order in Trump organization trial, preventing parties from verbal attacks on court officials
President Trump said the financial statements were “perfect” and stressed that the bank loan had been repaid and he was “as happy as I could be.”
Throughout the trial, Mr. Trump’s lawyers called witnesses, including former Deutsche Bank executives, who testified that the banks viewed Mr. Trump as a “customer whale” and sought additional business from him.
Trump’s defense also brought in expert witnesses, including New York University accounting professor Eli Bartov, who reviewed Trump’s financial statements at issue in the case and found no evidence of accounting fraud. Stated.
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Bartov testified last month that Trump’s financial statements did not violate accounting principles, and that everything at issue, including the estimated value of his Trump Tower penthouse, which increased significantly from year to year, were simply errors. suggested.
“My main finding is that there is no evidence of any accounting fraud,” Bartov testified. He said there were “no material misstatements” in President Trump’s financial statements.
