Trump wins pause of $454 million civil fraud ruling, averting asset
seizures
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[March 26, 2024]
By Jack Queen and Luc Cohen
NEW YORK (Reuters) -Donald Trump won a bid on Monday to pause his $454
million civil fraud judgment if he posts a smaller $175 million bond
within 10 days, in a victory for the former U.S. president that blocks
New York state authorities from taking steps to seize his assets.
The decision by a mid-level state appeals court eases an acute cash
crunch for Trump, who has said he would be forced to sell assets at
"fire sale prices" to post bond in the case.
If Trump posts bond by the new deadline, state authorities will not be
able to start seizing his assets.
The ruling delays enforcement of a judgment in a case that found he
overstated his wealth to dupe investors and lenders, though it does not
indicate how the appeals court might ultimately rule or address the
merits of the case. It could take judges up to a year or longer to reach
a decision on that.
"I greatly respect the decision of the appellate division and I'll post
either the $175 million in cash or bonds or securities or whatever is
necessary, very quickly," Trump told reporters at a New York courthouse
where he was appearing in a separate criminal case.
New York Attorney General Letitia James's office, which is handling the
civil case, said Trump is "still facing accountability for his
staggering fraud."
The Republican former president is battling criminal charges and
multi-million dollar civil judgments while he seeks to unseat Democratic
President Joe Biden in the Nov. 5 U.S. election.
Trump's legal maneuvering has delayed three of those criminal trials,
though a New York judge ruled on Monday that the fourth case, involving
hush money paid to a porn star, would start on April 15.
Before the pause was granted, Trump faced a Monday deadline to come up
with the $454 million judgment, which he said he was unable to do. At
that point, James could have asked a court to start seizing his assets,
including prized real estate holdings like 40 Wall Street in Manhattan.
![](http://archives.lincolndailynews.com/2024/Mar/26/images/ads/current/burtonview_sda_SFARM_2024.png)
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![](../images/032624PIX/news_u45.jpg)
Republican presidential candidate and former U.S. President Donald
Trump gestures at a press conference at one of his properties after
attending a hearing in his criminal court case on charges stemming
from hush money paid to a porn star in New York City, U.S., March
25, 2024. REUTERS/Shannon Stapleton
![](http://archives.lincolndailynews.com/2024/Mar/26/images/ads/current/debbiesfloral_lda_030724.png)
Trump has struggled to raise money for both his campaign and his
legal expenses. He has pleaded not guilty in the criminal cases and
has denied wrongdoing in all of the cases.
In the New York civil case, Trump was found liable for fraudulently
inflating his net worth by billions of dollars to secure better loan
and insurance terms. He has said the case is a political vendetta by
James, a Democrat.
Justice Arthur Engoron found Trump had engaged in fraud by
overvaluing properties including his Mar-a-Lago estate in Florida,
his penthouse apartment in Manhattan's Trump Tower, and various
office buildings and golf courses. The trial focused primarily on
how much Trump should pay in penalties.
In a separate civil case, Trump has posted a $91.6 million bond to
cover a defamation verdict for writer E. Jean Carroll, who said he
defamed her by branding her a liar after she accused him of raping
her decades ago. Trump is appealing that judgment as well.
The criminal cases Trump faces stem from his efforts to overturn his
2020 election loss to Biden, his handling of classified documents
after leaving office in 2021, and hush money paid before his 2016
election to a porn star who said she had a sexual encounter with him
years earlier.
(Reporting by Jack Queen and Luc Cohen in New York;Additional
reporting by Nathan Layne in Milton, Connecticut; Editing by Andy
Sullivan, Will Dunham, Noeleen Walder and Howard Goller)
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