Trump fears he may have to “sell Great Assets, perhaps at Fire Sale prices”
Former President Donald Trump lashed out at the judge who imposed a $450+ million penalty in his New York fraud case after his lawyers admitted he was unable to secure a bond to appeal the case.
Trump’s lawyers on Monday asked a New York appeals court to stay the enforcement of the judgment in his fraud case, saying it has been impossible to secure a bond necessary to appeal the judgment after approaching 30 different underwriters.
The former president lashed out at the judge on Truth Social after the filing.
“Engoron wants me to put up the ridiculous fine (I DID NOTHING WRONG!) before I get a chance to Appeal his crazed ruling - A first!” Trump falsely wrote. New York law requires a defendant to put up the full judgment amount with interest in order to appeal a civil judgment.
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There is no bail in this case. It’s a monetary judgement that he is appealing and in order to do so, he has to put the money in an escrow account or have a bond company front that money.
He hasn’t found a bond company stupid enough to do so, and he doesn’t have the cash on hand to do it, so the state will get to seize and sell off his assets until they get to the amount he owes.
I know this is over simplified, but hopefully clears up OPs confusion about bail and jail being in an equation where they don’t belong.
This isn’t bail. This is a judgement against him that he is required to pay. What he wants to do is appeal the judgement, but to appeal he has to put up the money first. It’s like in My Cousin Vinny where Vinny refused to kick that guy’s ass until he had the $200, and the guy tried to pretend a roll of singles was the full amount.
Trump needs to show the government he has the money before he can appeal the ruling. If he can’t, they can begine seizing his assets and selling them until the debt is paid. .