Democrat New York Attorney General Letitia James told a New York appeals court she is concerned former President Donald Trump doesn't have enough cash to cover the $464.5 million judgement in his civil fraud trial.
In a court filing Monday night with the Supreme Court of the State of New York Appellate Division, CNBC reported James argued Trump and his co-defendants, which include his sons Eric Trump and Donald Trump Jr., should be required to post cash or bonds covering the entire fraud judgment if they want to pause it from coming due while they challenge the ruling.
"Defendants have never demonstrated that Mr. Trump's liquid assets — which may fluctuate over time — will be enough to satisfy the full amount of this judgment following appeal," James wrote in the court filing.
Trump's real estate holdings might also decrease in value during the appeals process as post-judgment interest climbs, she wrote.
Trump asked the appeals court to pause the judgment ordered by Judge Arthur Engoron after he found they fraudulently misstated the value of assets on financial documents for personal gain.
Trump and his sons have denied any wrongdoing.
He is on the line for $464.5 million, including $100.7 million in interest, and his sons were fined $4 million each.
Trump "has substantial liabilities that may reduce his liquid assets further, including other outstanding money judgments against him, and he faces multiple criminal indictments," James wrote, noting an $83.3 million judgement against Trump in a defamation lawsuit filed by writer E. Jean Carroll. Trump is appealing that judgment and has denied any wrongdoing in that case.
James urged the appeals court to reject Trump's bid to stay the judgment with a $100 million bond. New York appeals court Judge Anil Singh on Feb. 28 rejected the $100 million bond proposal but allowed the defendants to continue doing business in New York and lifted a ban on seeking loans. That ruling is in effect until a full panel of appeals court judges considers the matter next week.
Newsmax reached out to Trump's legal team for comment.
Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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