NY Judge Denies Trump Lawyers Request
Former President Donald Trump has suffered another legal blow as a New York judge has denied his legal team’s request to avoid paying a $355 million penalty in a fraud case brought against him by the state’s Attorney General Letitia James. This decision came after Trump’s lawyers requested a 30-day delay to allow for an “orderly post-judgment process.”
In his email to the defendants, Judge Arthur Engoron stated that they had provided no justification for a stay and expressed confidence that the appellate court would protect their rights in the appeal. This ruling comes just a week after Engoron barred Trump from operating his business in New York for three years and found him liable for $355 million in damages. The case also named Trump’s family and the Trump Organization as defendants.
Attorney General James said she was prepared to seize Trump’s assets if he is unable to pay the staggering judgment handed down in the civil fraud case. This could potentially put some of Trump’s prized properties at risk if he fails to pay. With interest, Trump now owes the state nearly $454 million, and the amount continues to increase by $87,502 each day until he pays.
The judge’s decision to deny the stay request comes after he concluded that Trump had lied about his wealth for years as he built his real estate empire and rose to fame and the presidency. Trump has denied any wrongdoing and has vowed to appeal the decision. In a statement, he claimed that he has about $400 million in cash reserves, which would be depleted by the court penalties. However, the rest of his reported net worth, which he claims is several billion dollars, is tied up in various properties, investments, and other holdings.
This is not the only significant legal battle Trump is facing. In January, a jury ordered him to pay $83.3 million for defaming writer E. Jean Carroll. This case adds to the mounting legal debts of the former president, and his ability to pay them is becoming increasingly uncertain. With back-to-back courtroom losses, Trump’s financial situation is being called into question. It is unclear how much money he has available to pay the multiple court judgments against him.
The decision to deny the stay and uphold the penalty highlights the severity of the allegations against Trump in the civil fraud case. According to the ruling, he lied about his wealth for years, resulting in significant damages and harm to individuals and entities. The judge’s ruling also emphasizes the importance of upholding justice and holding individuals accountable for their actions, regardless of their status or position.
While the ruling is a significant setback for Trump, it is just one step in the legal process. His lawyers have already stated that they plan to appeal the decision, which could potentially delay the collection of the penalty while the appeal process plays out. This highlights the complexity of the case and the likelihood of it continuing for some time.
It is worth noting that this is a civil case, and there may be other legal repercussions for Trump related to this matter. Additionally, the potential consequences of the case could extend beyond just financial penalties. The ruling could also impact Trump’s reputation and potentially limit his future business prospects.
As the legal battle continues, it will be essential to closely monitor the developments and their potential implications for all parties involved.