Judge in Trump civil fraud case denies request to delay $355 million penalty
A New York judge presiding over former President Donald Trump’s civil fraud case has denied his legal team’s request to avoid paying a $355 million penalty in the case.
Trump lawyers had asked Judge Arthur Engoron to delay enforcement of the payment by 30 days to allow time for an “orderly post-judgement process.”
In an email to the defendants posted Thursday to the court docket, Engoron said they had “failed to explain, much less justify, any basis for a stay.”
“I am confident that the Appellate Division will protect your appellate rights,” he wrote.
Last week, Trump was barred from operating his business in New York for three years and was found liable for $355 million in damages in the civil fraud case brought against him, his family and the Trump Organization by New York Attorney General Letitia James.
James said Monday she was prepared to seize Trump’s assets if he is unable to pay the massive judgment handed down in his civil fraud case.
Trump could be at risk of losing some of his prized properties if he can’t pay his staggering New York civil fraud penalty. With interest, he owes the state nearly $454 million — and the amount is going up $87,502 each day until he pays.
Engoron concluded that Trump lied for years about his wealth as he built the real estate empire that vaulted him to stardom and the White House. Trump denies wrongdoing and has vowed to appeal.
Trump’s ability to pay his mounting legal debts is increasingly murky after back-to-back courtroom losses. In January, a jury ordered him to pay $83.3 million for defaming writer E. Jean Carroll.
Trump claimed last year that he has about $400 million in cash — reserves that would get eaten up by his court penalties. The rest of his net worth, which he says is several billion dollars, is tied up in golf courses, skyscrapers, and other properties, along with investments and other holdings.
Trump’s promised appeal is likely to halt collection of his penalty while the process plays out.
Source: Fox News