New York Appellate Court denies Trump’s attempt to freeze judgment in civil fraud case, requires bond of hundreds of millions

Former President Donald Trump faces a major setback as a New York appellate court denied his attempt to freeze the judgment in his civil fraud case, requiring him to post a bond for hundreds of millions of dollars in the coming weeks. The ruling by Judge Anil Singh means Trump is now obliged to post a bond of at least $454 million, despite his defense team’s arguments that he could only secure a $100 million bond due to the need to sell off real estate assets.

The judgment stems from Manhattan Supreme Court Judge Arthur Engoron’s decision to hold Trump, his two adult sons, and two former Trump Organization executives accountable for a decade of fraudulent business practices. Trump and his co-defendants were found liable for engaging in numerous acts of fraud and misrepresentation to boost Trump’s net worth for financial gain, resulting in a total judgment of $464 million in disgorgement and pre-judgment interest.

While Judge Singh agreed to pause the enforcement of the judgment that prohibited Trump and his sons from running the Trump Organization, the former president still faces a significant financial burden. Trump has two avenues of appeal left, with the first opportunity to challenge the ruling before a panel of judges next month, followed by a potential appeal to New York’s Court of Appeals.

Trump’s legal team argued that the penalties imposed were excessive and punitive, and stated their intent to post a $100 million bond as a compromise. The defense claimed that the bond, combined with existing oversight from an independent monitor, would ensure that the New York Attorney General could collect the judgment if necessary.

However, the attorney general’s office raised concerns that Trump and his co-defendants might try to evade enforcement of the judgment, pointing to past behavior such as a $40 million transfer flagged by the independent monitor and efforts to list Trump’s companies with Florida addresses. The attorney general requested the court to deny Trump’s request for a stay, continue oversight of the Trump Organization, and ensure full satisfaction of the judgment.

As Trump’s legal battle intensifies, the case remains a focal point of scrutiny, reflecting the ongoing legal challenges faced by the former president and the potential financial consequences of his alleged fraudulent actions.