Trump wins pause of $454 million civil fraud ruling, avoiding asset seizures
(Reuters) — Donald Trump won a bid 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 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.
It delays enforcement of a judgment in a case that found he overstated his wealth to secure better loan and insurance terms.
“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,” Mr. 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.”
Before the pause was granted, Mr. Trump faced a Monday deadline to come up with the $454 million judgment, which he said he was unable to do. At that point, Ms. James could have asked a court to start seizing his assets, including prized real estate holdings like 40 Wall Street in Manhattan.
Justice Arthur Engoron found Mr. Trump had engaged in fraud by overvaluing properties including his Mar-a-Lago estate in Florida, his penthouse apartment in Manhattan's Trump Tower, and various office buildings and golf courses. The trial focused primarily on how much Mr. Trump should pay in penalties.
