President Donald Trump’s request to delay the payment of his $464 million civil business fraud fine was denied by a New York Appeals Court judge on Wednesday.
Trump was seeking to delay his obligation to pay the massive amount until his appeals of the civil fraud ruling were completed, but Associate Justice Anil Singh ruled that the Republican Party presidential frontrunner must post bond for the full $464 million by March 25, CNN reported.
The civil fraud trial started after New York Democratic Attorney General Letitia James sued Trump, alleging that he inflated his net worth and misled lenders. Judge Arthur Engoron ruled in agreement with James earlier this month, ordering Trump to dish up $350 million, which increased to $454 million including interest, and barring Trump and his sons from running their business in New York for two to three years.
Singh’s Wednesday ruling will, however, allow Trump and his sons, Don Jr. and Eric, to continue running their business as they appeal Engoron’s verdict, Fox News reported. Singh also lifted a ban on Trump obtaining loans from a New York bank, meaning he could gain access to equity in some of his assets.
Trump appealed the massive civil business fraud judgment on Monday, suggesting that Engoron “committed errors of law and/or fact” and abused his discretion or “acted in excess” of his jurisdiction, according to the Associated Press. The case will go before the Appeals Court next month with James’ brief due before the panel on March 11 and Trump’s replies due on March 18.
The former president has maintained throughout the case that he and his business did nothing wrong, arguing that his assets had even been undervalued. During the trial, Trump’s attorneys brought in former bank executives who vouched for Trump as a client and an expert accounting professor who said he reviewed Trump’s financial statements and found no evidence of fraud.
Following Engoron’s ruling, Trump blasted the judge and Attorney General James.
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“This ‘decision’ is a Complete and Total SHAM,” he said. “There were No Victims, No Damages, No Complaints. Only satisfied Banks and Insurance Companies (which made a ton of money), GREAT Financial Statements, that didn’t even include the most valuable Asset – The TRUMP Brand, IRONCLAD Disclaimers (Buyer Beware, and Do your Own Due Diligence), and amazing Properties all over the World. All the other side had was a ridiculous $18 million valuation of magnificent Mar-a-Lago, an unConstitutional Gag Order, a Consumer Fraud Statute never before used for this purpose, No Jury allowed, and a refusal to send this disgusting charade to the Commercial Division, where it would have been put to a deserving end.”