An appellate court ruled that President Trump can post a $175 million bond to cover Letitia James’ $464 million judgment.
Trump has 10 days to post the bond.
Marxist New York Attorney General Letitia James last Thursday took the initial step
to seize Trump’s assets. She filed judgments in Westchester County
where Trump’s private estate and golf course named Seven Springs is
located.
President Trump had until Monday to either pay the judgment or
convince the appellate court to allow him to defer the payment pending
appeal.
Trump’s legal team filed an appeal and requested a stay on the massive $464 million judgment.
On Thursday Trump’s attorneys sent a letter to the Appellate Division
of New York’s Supreme Court and asserted Letitia James’ actions are
“unconstitutional.”
The appellate court intervened on Monday and ruled Trump can post $175 million bond.
“It is ordered that the motion is granted to the extent of staying
enforcement of those portions of the Judgment (1) ordering disgorgement
to the Attorney General of $464,576,230.62, conditioned on
defendants-appellants posting, within ten (10) days of the date of this
order, an undertaking in the amount of $175 million dollars,” the
two-page order from the appellate said, according to ABC News.
ABC News reported:
A New York appellate court has ruled that former
President Donald Trump can post a lower bond to cover his $464 million
civil fraud judgment.The Appellate Division, First Department said Trump can post a bond “in the amount of $175 million” to cover the judgment.
Trump’s attorneys had argued obtaining a bond for the full amount of $464 million was a “practical impossibility.”
The panel of five judges also opted to delay enforcement of the $464 million judgment by ten days.
President Trump responded to the appellate court’s ruling.
“Judge Engoron has refused to obey the decision of the Appellate
Division relative to the Statute of Limitations. This is a confrontation
between a Judge and those that rule above him – A very bad situation in
which to place New York State and the Rule of Law! Engoron has
disrespected the Appellate Division and its very clear and precise
ruling. He should be made to do so, and at the same time, release the
GAG ORDER. This is the 5th time in this case that he has been
overturned, a record. His credibility, and that of Letitia James, has
been shattered. We will abide by the decision of the Appellate Division,
and post either a bond, equivalent securities, or cash. This also shows
how ridiculous and outrageous Engoron’s original decision was at $450
Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A
POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS
FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS
TOTALITY AS SOON AS POSSIBLE. THANK YOU!” Trump said in a Truth Social
post.
In a follow up post, Trump demanded Letitia James and Judge Engoron
explain why he ruled that Mar-a-Lago was only worth $18 million.
“Judge Engoron and Letitia James should be forced to explain why he
ruled that Mar-a-Lago was worth $18,000,000 when, in fact, it is worth
from 50 to 100 times that amount. How did the Attorney General of the
State of New York force this Corrupt Judge to do that in order to help
her narrative – AND WHY?” Trump said.
Trump reacted to the New York Appeals Court ruling after he stepped out of the courthouse in Manhattan.
“New York state is being battered by his decision, so I greatly respect the decision of the appellate division,” Trump said.
WATCH:
🚨 President Donald J. Trump Reacts to New York Appeals Court Ruling pic.twitter.com/AsTD0MWKAo
— Team Trump (Text TRUMP to 88022) (@TeamTrump) March 25, 2024
(Article by Cristina Laila republished from TheGatewayPundit)
Click this link for the original source of this article.
Author: Planet Today
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