Former President Donald Trump is continuing to rant against the $464 million verdict in his New York civil fraud case, alleging Judge Arthur Engoron is attempting to take away his rights and that he may be forced to sell his properties at “fire sale prices.”
“Judge Engoron actually wants me to put up hundreds of millions of dollars for the right to appeal his ridiculous decision,” Trump said on social media Tuesday morning. “In other words, he is attempting to strip me of my appellate rights,” Trump stated.
“I would be compelled to borrow or sell Great Assets, possibly at Fire Sale rates, and if I won the Appeal, they would be gone. Does that make sense? Trump continued in part.
According to a new appellate court filing, Trump’s attorneys are having “insurmountable difficulties” obtaining a bond to meet the judgment.
Last month, Trump’s lawyers requested a stay of the enforcement and promised to obtain a $100 million bond. A New York appeals court dismissed Trump’s emergency application for a stay last month, but a panel of judges is now examining his request for a postponement.
New York Attorney General Letitia James objected to the request, claiming Trump and his co-defendants “will attempt to evade enforcement of the judgment or make enforcement more difficult.”
“Moreover, there is a significant risk that defendants will attempt to evade enforcement of the judgment or to make enforcement more difficult after an appeal,” Senior Assistant Solicitor Dennis Fan said last week, arguing that Trump should pay the judgment or obtain a bond in full.
While Trump Organization general counsel Alan Garten stated Monday that Trump is “financially stable” and has “substantial assets,” the size of the judgment would force him to use his real estate as collateral for the bond. According to the petition, more than 30 corporations have declined to help with Trump’s bond, which the former president is attempting to secure with a mix of property and cash.
In a series of posts on his social media platform Monday night, Trump claimed that the bail in the New York civil fraud case decision was “unconstitutional,” “unAmerican,” and “unprecedented.”
A bond of this size is “practically impossible for ANY Company, including one as successful as mine,” Trump stated in a series of social media tweets, repeating his legal team’s claims.
Trump’s attorneys, who have termed the judgment “unconstitutionally excessive,” petitioned an appellate court again on Monday to allow Trump to obtain a lower bond amount.
“Obtaining such cash through a ‘fire sale’ of real estate holdings would inevitably result in massive, irrecoverable losses — textbook irreparable injury,” defense counsel Alina Habba and Clifford Robert argued.
James previously told ABC News that if the former president cannot find the money to pay the fine, she is willing to seize his assets.
“If he does not have the funds to pay off the judgment, we will seek judgment enforcement mechanisms in court and request that the judge seize his assets,” James said in an exclusive interview with ABC News’ Aaron Katersky in February.
The former president has denied any misconduct and stated that he will appeal.