Legal Problems - Civil
Prosecutor: New York attorney general, Letitia James
Civil Court Judgment: Judge Arthur F. Engoron - convicted Trump personally of civil fraud: ordered Trump to pay $ 454 million in disgorgement, or "ill-gotten gains," for issuing false financial statements and false business records to inflate the value of his assets. Trump had fraudulently done this to obtain favourable loans and other benefits. Interest on the penalty is running.
Trump Appealed to the Appeals Court: Pause the enforcement of payment of the penalty. Appeal Court ruled that Trump must show financial viability by posting about a $ 545 million bond to confirm the penalty can be paid, if necessary. It had to be posted by Mon., 24/3/25.
Trump's Motion to Appeal Court (Monday, March 18) - that the Bond be reduced to $ 100 million; not yet decided.
Grounds: Trump has been unable to secure the full $ 545 million bond, despite “diligent efforts.” Those efforts included approaching about 30 companies, and yet, they said, he has encountered “insurmountable difficulties.”
https://www.nytimes.com/2024/03/18/n...d396a4debfd6ce
Consequence (If Court does not lower bond, and a sufficient bond is not filed): New York Attorney General Letitia James may begin seizing some of Trump's assets to finance his obligation to the state. Filings show New York officials are first preparing to try to seize Trump's golf course and private estate north of Manhattan, known as Seven Springs.
Bob A
Prosecutor: New York attorney general, Letitia James
Civil Court Judgment: Judge Arthur F. Engoron - convicted Trump personally of civil fraud: ordered Trump to pay $ 454 million in disgorgement, or "ill-gotten gains," for issuing false financial statements and false business records to inflate the value of his assets. Trump had fraudulently done this to obtain favourable loans and other benefits. Interest on the penalty is running.
Trump Appealed to the Appeals Court: Pause the enforcement of payment of the penalty. Appeal Court ruled that Trump must show financial viability by posting about a $ 545 million bond to confirm the penalty can be paid, if necessary. It had to be posted by Mon., 24/3/25.
Trump's Motion to Appeal Court (Monday, March 18) - that the Bond be reduced to $ 100 million; not yet decided.
Grounds: Trump has been unable to secure the full $ 545 million bond, despite “diligent efforts.” Those efforts included approaching about 30 companies, and yet, they said, he has encountered “insurmountable difficulties.”
https://www.nytimes.com/2024/03/18/n...d396a4debfd6ce
Consequence (If Court does not lower bond, and a sufficient bond is not filed): New York Attorney General Letitia James may begin seizing some of Trump's assets to finance his obligation to the state. Filings show New York officials are first preparing to try to seize Trump's golf course and private estate north of Manhattan, known as Seven Springs.
Bob A
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