Former President Donald Trump and his legal team have formally initiated an appeal against the $464 million civil fraud judgment leveled against him and his company. The move signals an escalation in the legal battle following the ruling by Judge Arthur Engoron earlier this month. Trump’s attorneys have filed a notice with the appeals court, aiming to scrutinize whether Judge Engoron erred in law or fact, abused discretion, or exceeded jurisdiction in delivering the substantial judgment.
Unpacking the Judgment
The staggering $464 million judgment comprises the principal sum along with accrued prejudgment interest, stemming from Engoron’s ruling of over $350 million against Trump and the Trump Organization. Additionally, the court order imposes a three-year prohibition on Trump from overseeing any New York businesses. This landmark decision follows a protracted trial prompted by New York Attorney General Letitia James’ allegations of long-standing fraud perpetrated by Trump and top executives, who allegedly inflated assets on financial documents to secure favorable bank loans and insurance policies.
Implications and Legal Maneuvers
With the judgment officially entered and a 30-day appeal window activated, Trump faces critical decisions to contest the ruling. To forestall asset seizures or suspend the judgment, Trump must either furnish a full bond or secure judicial approval for a freeze or reduced bond within the stipulated timeframe. Failure to comply within 30 days empowers James’ office to initiate asset seizures, with the judgment accruing interest at $114,000 daily. Despite NBC News’ request for comment, James’ office remained silent on the matter.
Parallel Legal Battles
Trump’s legal woes extend beyond the civil fraud case, with an $83 million defamation verdict delivered against him in a federal court last month. The defamation ruling, officially recorded on February 8, parallels the civil fraud judgment, further complicating Trump’s legal landscape. Seeking reprieve, Trump’s legal team requested an extension to post a bond in the defamation case, pending the resolution of post-trial motions. However, U.S. District Judge Lewis Kaplan deferred a decision until hearing from E. Jean Carroll’s legal representatives, granting them until Thursday to respond.
As legal proceedings unfold, Trump’s legal counsel remains steadfast in their determination to challenge the judgments. Trump attorney Alina Habba expressed confidence in the appellate division’s potential to overturn the “egregious fine” and restore confidence in New York’s legal system. The upcoming appellate review and subsequent legal maneuvers promise to prolong the legal saga, with both sides poised for a protracted battle in the courts.