NEW DELHI: Former US President Donald Trump secured a victory on Monday as a mid-level state appeals court granted his request to temporarily halt a $454 million civil fraud judgment against him. The ruling allows Trump to postpone payment of the massive judgment if he posts a smaller $175 million bond within the next 10 days, shielding his assets from seizure by New York state authorities.
Trump, who has been facing financial challenges, hailed the decision as a significant relief from an impending cash crunch. He had expressed concerns about having to sell assets at discounted prices to meet the original bond amount.
Under the court’s ruling, if Trump meets the new bond requirement within the specified timeframe, state authorities will be barred from initiating asset seizures. However, the decision does not indicate how the appeals court will ultimately rule on the case or address its merits, a process that could span up to a year or longer.
Speaking to reporters outside a New York courthouse where he was attending a separate criminal case, Trump expressed his respect for the court’s decision and pledged to promptly fulfill the bond requirement.
Meanwhile, New York Attorney General Letitia James’s office, which is handling the civil case, emphasized that Trump remains accountable for the alleged fraud. The civil case accuses Trump of inflating his net worth to deceive investors and lenders, allegations Trump has vehemently denied.
In addition to the civil case, Trump is embroiled in multiple criminal proceedings while simultaneously campaigning to unseat Democratic President Joe Biden in the upcoming election. His legal battles have resulted in delays in several criminal trials, although a New York judge recently ruled that one case related to hush money payments to a porn star will proceed on April 15.
Prior to the court’s decision to pause the $454 million judgment, Trump faced a deadline to settle the amount, which he claimed he couldn’t meet. Failure to comply could have led to asset seizures, including Trump’s prized real estate holdings such as 40 Wall Street in Manhattan.
Trump’s financial struggles have extended to his campaign and legal expenses, as he maintains his innocence in the criminal cases and denounces the civil lawsuits as politically motivated attacks.
The civil case against Trump alleges fraudulent practices in valuing properties including Mar-a-Lago in Florida and Trump Tower in Manhattan, among others. Despite his ongoing legal battles, Trump remains steadfast in his denial of any wrongdoing.
Trump, who has been facing financial challenges, hailed the decision as a significant relief from an impending cash crunch. He had expressed concerns about having to sell assets at discounted prices to meet the original bond amount.
Under the court’s ruling, if Trump meets the new bond requirement within the specified timeframe, state authorities will be barred from initiating asset seizures. However, the decision does not indicate how the appeals court will ultimately rule on the case or address its merits, a process that could span up to a year or longer.
Speaking to reporters outside a New York courthouse where he was attending a separate criminal case, Trump expressed his respect for the court’s decision and pledged to promptly fulfill the bond requirement.
Meanwhile, New York Attorney General Letitia James’s office, which is handling the civil case, emphasized that Trump remains accountable for the alleged fraud. The civil case accuses Trump of inflating his net worth to deceive investors and lenders, allegations Trump has vehemently denied.
In addition to the civil case, Trump is embroiled in multiple criminal proceedings while simultaneously campaigning to unseat Democratic President Joe Biden in the upcoming election. His legal battles have resulted in delays in several criminal trials, although a New York judge recently ruled that one case related to hush money payments to a porn star will proceed on April 15.
Prior to the court’s decision to pause the $454 million judgment, Trump faced a deadline to settle the amount, which he claimed he couldn’t meet. Failure to comply could have led to asset seizures, including Trump’s prized real estate holdings such as 40 Wall Street in Manhattan.
Trump’s financial struggles have extended to his campaign and legal expenses, as he maintains his innocence in the criminal cases and denounces the civil lawsuits as politically motivated attacks.
The civil case against Trump alleges fraudulent practices in valuing properties including Mar-a-Lago in Florida and Trump Tower in Manhattan, among others. Despite his ongoing legal battles, Trump remains steadfast in his denial of any wrongdoing.
