Donald Trump is currently facing a severe risk as New York’s attorney general, Letitia James, is poised to start collecting a $454 million civil business fraud judgment against him. The former president’s son, Eric Trump, who is also a co-defendant in the case, has accused James of attempting to bankrupt his father with the judgment. Trump’s legal team has emphasized that he is incapable of paying for an appeal bond that could prevent the attorney general from collecting the judgment while he continues to challenge the fraud verdict. James has made it clear to the appeals court that she believes Trump’s request to delay the judgment should be denied.
In an interview with Fox News, Eric Trump alleged that the attorney general’s office is trying to deprive his father of his assets and ultimately bankrupt him. He expressed confidence that his father would prevail in November and criticized the size of the bond required, stating that no one had ever seen a bond of that magnitude. Recently, news emerged that the attorney general’s office had registered the fraud judgment, indicating a potential move to seize Trump’s assets in Westchester County. The judgment stemmed from a case in which Trump, his sons, and other defendants were found liable for fraudulently inflating the value of assets to obtain favorable loan terms.
Donald Trump’s legal team has faced challenges in securing an appeal bond, with surety companies reportedly demanding a significant cash amount before considering underwriting the bond. Despite Trump’s efforts to obtain the bond, no company was willing to accept real estate as collateral, leaving him in a difficult position. If the appeals court does not grant a temporary waiver of the judgment, Trump may have to turn to the state’s highest court for relief. However, the outcome at that level remains uncertain, and James could potentially begin the process of seizing Trump’s properties as early as Monday.
In New York civil cases, losers are typically required to post an appeal bond to avoid immediate enforcement of judgments. Trump’s inability to secure the bond has placed him at risk of losing his properties to satisfy the substantial judgment. As the legal battle continues, the former president is confronted with mounting financial pressure and the possibility of significant losses in his legal fight against the attorney general.
The coming days are crucial for Donald Trump as he navigates the complex legal landscape in New York. With the threat of property seizures looming and the challenge of obtaining an appeal bond unresolved, the former president faces a precarious financial situation. The outcome of the legal battle with the attorney general remains uncertain, leaving Trump’s future hanging in the balance as he grapples with the consequences of the fraud judgment.