Trump managed to suspend confiscation of his assets in fraud case
Photo: former US President Donald Trump (Getty Images)
On Monday, March 25th, Donald Trump won a motion to suspend a court decision in a civil fraud case that required the politician to post a $175 million bond within 10 days. This prohibits the New York state authorities from seizing his assets, informs Reuters.
The decision of the mid-level appellate court postpones the enforcement of the court ruling in a case where it was found that Trump inflated his assets to deceive investors and creditors.
However, this decision does not indicate how the appellate court may ultimately rule or address the substance of the case. It may take the judges up to a year or more to make a decision on this matter.
"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 in the courthouse building.
At the same time, in the Office of the Attorney General of New York, Letitia James, who is leading the civil case, stated that Trump "still facing accountability for his staggering fraud."
Monday marked the deadline for a decision regarding the $454 million that Trump is unable to pay. At that point, James could seek the court to initiate the seizure of the politician's assets, including real estate such as the 40 Wall Street building in Manhattan.
Case of Trump's сivil аraud
In one of the numerous criminal cases against former US President Donald Trump, New York state judge Arthur Engoron found that Trump engaged in fraud by inflating the value of real estate, including his Mar-a-Lago estate in Florida, a penthouse in the Manhattan skyscraper Trump Tower, as well as various office buildings and golf courses. The court proceedings primarily focused on determining how much the politician should pay in fines.
On February 24th, Judge Engoron officially ordered Trump to pay $454.2 million after finding him guilty of manipulating his own capital. The deadline for the decision was set for March 25th. The politician filed an appeal against this decision.
Trump declared his unwillingness to pay such a sum and reached out to one of the organizations previously found guilty of fraud, requesting assistance in covering the necessary expenses.
On March 15th, the court postponed the hearing in the case of the former president's fraud for 30 days. The hearing was initially scheduled for March 25th but will now take place no earlier than the end of April.
Overall, Donald Trump faces 91 criminal charges across multiple cases. These include cases related to the payment of $130,000 to porn actress Stormy Daniels, attempts to overturn the results of the 2020 presidential election, improper handling of classified information after leaving office, among others.
