Trump wins pause of $454 million civil fraud ruling, averting asset seizures
5622 Mins Read
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.
