Trump Loses Appeal Over $464M Fraud Trial Fine Payment; Ex-POTUS Had Offered $100M Bond

Dominic Patten
·4 min read
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Just over 12 hours after winning big in the GOP Michigan primary, Donald Trump lost big today in his desire to hit pause on the $464 million  judgment he owes out of a New York fraud trial.

In his second swing at getting the big bucks judgment and $112,000 per day in interest personally halted the self-declared billionaire former president and de facto Republican nominee had already been forced to eat crow earlier. Pulling a typical Trump move, the ex-Celebrity Apprentice host loudly plead relatively poverty and quietly admitted that he would be forced to sell some of his real estate properties if the court declined his stay request.

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Waiting to file an appeal on the fraud trial Trump and his lawyers had tried to get the court to accept a bond of a much lower $100 million for the court freezing the process.

Associate Justice Anil C. Singh declined.

Though the Empire State appeals court did stay the ban on Trump and his sons from serving as corporate directors or obtaining business loans during their greater appeal, Judge Singh wrote that “the interim stay is denied as to the enforcement of monetary judgment.”

Trump’s own lawyers estimated in their own paperwork today that the judgment could eventually top $550 million.

With the customary stay pending appeal in place for a few more weeks, Wednesday’s ruling means Trump has until March 25 to come up with the dough. If he fails to do so, New York Attorney General Letitia James has indicated she will seize Trump assets – assets like bank accounts and his beloved Trump Tower.

Of course before that, a full panel of New York’s First Department of the Appellate Division is anticipated to consider putting a stay in place while Trump pursues his appeal. In the meantime, under today’s ruling, Trump could seek a loan to cover the ever growing court judgment.

Justice Arthur Engoron had already found the 77-year-old Trump liable for defrauding banks in a summary judgment decision released in September 2023. The initial $354 million fine decided on February 16 was a bench trial to essentially determine what penalty Trump, his sons, associates and businesses would have to pay up.

The formal judgment from NY Supreme Court Emgoron that was made public on February 23 said: “This judgment shall bear interest from the date of its entry at the statutory rate of 9% per annum.”

As well as this every burgeoning judgment, Trump also has to pay up the $83.3 million a New York jury last month decided he owes E. Jean Carroll for attacking the writer. Carroll won a trial that Trump sexually assaulted her in a department store change room in the 1990s.

In May 2023, Trump was found liable of sexual abusing and defaming Carroll. The former Elle columnist won a $5 million award in that trial. Having paid up zero so far, Trump’s attorneys have said they plan to appeal the Carroll defamation verdict. Last week, Trump’s lawyers told the court that wanted to put paying Carroll on hold until all post-trial issues are resolved.

On more that one level, Trump coming clean today that he doesn’t have the cash on hand to pay the over $460 million and literally daily growing fine proved AG James’ long held contention that he has grossly inflated his worth over the years.

The much indicted Trump and now incumbent Joe Biden are pretty much neck-and-neck in their 2024 rematch.

While pundits and MAGA fans claim Trump’s legal troubles aren’t hurting him with his base, that base certainly isn’t showing up the way they used to. The crowds at Trump’s rallies are much smaller than they were in 2016 and 2020. Not putting their money were their mouths are, a GoFundMe campaign to raise $355,000,000 for Trump to pay off the NY civil fraud judgment has only raise $1,276,615 so from from just a bit more that 22,000 donors since February 16.

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