NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023, #2

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At least I can shorten this up a bit now...

Monday, March 25th:
*LAST Day to Post Bond Appeal (@ 10am ET) – NY - New York vs. Donald J. Trump (76/now 77), Donald Trump, Jr. (45) & Eric Trump (38/now 39) & the Trump Organization, Inc. (Allen Weisselberg (75/now 76) & Jeffrey McConney) are being sued by Letitia James, the New York Attorney General, who is leading a civil investigation (which cannot result in criminal charges filed on 9/21/22) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & two of his children accusing them of "astounding" fraud & deception.
New York is seeking $250 million in financial penalties & asked the court to ban Trump, Donald Trump Jr. & Eric Trump from serving as an officer or director in any corporation registered or licensed in New York. James also requested the court ban the former president & his business from acquiring real estate in New York or from applying for loans from any New York financial institution for five years. James's civil case accuses Trump of lying from 2011 to 2021 about asset values at the Trump Organization, as well as his own net worth, in order to obtain better terms from lenders & insurers.
Lawsuit against: Donald John Trump, Donald Trump, Jr, Eric Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., Trump Organization LLC, DJT Holdings LLC, DJT Holinds Managing Memer, Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post of Fice LLC, 40 Wall Street LLC & Seven Springs LLC.
All charges against Ivanka Trump were dismissed in June, 2023.
New York Supreme Court (Manhattan) #452564-2022 / New York State Supreme Court, Appellate Division, 1st Dept, No. 2023-00717.
Bench Trial began on 10/2/23 & ended on 1/11/24 with closing arguments. Prosecutors rested their case on 11/8/23. Defense began their case on 11/13/23 & ended 12/18/23. Closing arguments were on 1/11/24.
The lawsuit’s remaining 6 counts allege similar acts of fraud (that Trump inflated his assets on statements of financial condition that he submitted to banks & insurers for personal gain).
Judge Arthur F. Engoron presiding / NY State Attorney General Leticia James & senior enforcement counsel Kevin Wallace, Defense attorney Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. / Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric.
*Trump, his eldest sons & associates have been ordered to pay $355M by a New York Judge Arthur Engoron who found them guilty of intentionally committing financial fraud over the course of a decade (2/16/24). rump was also barred from leading any New York company for three years. Eric & Donald, Jr. ordered to pay $4M & barred for 2 years. & Weisselberg to pay $1M & Weisselbeg & Jeffrey McConney are permanently banned from serving as an officer or director of any State of New York corporation or other legal entities in New York for 3 years.
*Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that he lied about his wealth as he grew the real estate empire that launched him to stardom & the presidency. His lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16, 2024 verdict. (2/26/24)
*New York appellate court Judge Anil C. Singh on Wednesday denied Trump's attempt to freeze the judgment in his civil fraud case, a ruling that means, for now, that Trump is required to post a bond for hundreds of millions of dollars in the coming weeks. Judge Anil C. Singh GRANTS Trump a partial stay of $465M fraud judgment that allows him & his sons to steer the company & obtain loans to put up a bond while they appeal. (2/28/24). Deadline is Monday, 3/25/24.
3/21/24 Update: The amount Trump owes is increasing by nearly $112,000 each day due to interest. As of Tuesday, 3/19/24, he owed the state nearly $456,800,000. On 3/20/24: $456.912,000. 3/21/24: $458,924,000. 3/22/24: $459,036,000. 3/23/24: $459,148,000. 3/24/24: $459,360,000. 3/25/24: $459,372,000 DUE!
Case & court info & Summary Judgement from 9/21/22 thru 9/28/23 & Bench Trial Day 1-48 (10/2-1/25/24) & thru 2/28/24 reference post #628 here:
https://www.websleuths.com/forums/t...r-sept-2022-trial-2-oct-2023-2.695170/page-32
2/28/24 Update: A New York appellate court on Wednesday denied Trump's attempt to freeze the judgment in his civil fraud case, a ruling that means, for now, that Trump is required to post a bond for hundreds of millions of dollars in the coming weeks. Judge Anil C. Singh GRANTS Trump a partial stay of $465M fraud judgment that allows him & his sons to steer the company & obtain loans to put up a bond while they appeal. Judge said he was “somewhat sympathetic” to argument that Trump didn't have the cash & couldn't get a loan. Trump will still have to post a bond for the full judgment, but the industry & loan bans have been temporarily lifted. Motions hearing on 3/18/24 @ 10am.
3/18/24 Update: Trump is facing "insurmountable difficulties" in obtaining a bond to satisfy the $464 million civil fraud judgment, his attorneys said Monday in a new appellate court filing [Reply Memorandum in Support of a Stay pending Appeal] & the magnitude of which would require him to use real estate as collateral. “The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote. Trump says he can’t obtain a bond for the full amount of the judgment (~$450M, including interest) in the civil fraud case. 30 underwriters declined. Trump's attorneys, who have called the judgment "unconstitutionally excessive," asked an appellate court again on Monday to allow Trump to secure a bond in a lesser amount. According to the filing, Gary Guilietti -- the president of insurance surety Lockton Companies who testified in Trump's defense at trial -- has helped coordinate the Trump Organization's outreach to bond companies. Guilietti said in an affidavit that surety companies have not allowed the Trump Organization to use its properties as collateral, leaving the company with the only option of posting 120% of the bond in the form of cash & cash equivalents, totaling $557,491,716.
Judge Engoron ordered Trump to pay pre-judgment interest on each ill-gotten gain-with interest accruing based on the date of each transaction, as well as a 9% post-judgment interest rate once the court enters the judgment in the case. Trump will continue to accrue interest on the fine during his lengthy appeal of Engoron's ruling, unless he deposits the full amount of the fine into an escrow account. While Trump's appeal will prompt an automatic stay of the enforcement of Engoron's ruling, Trump needs to first put money into an escrow account or post a bond in order to appeal. If Trump decides to post a bond to cover the fine during his appeal, the interest will continue to accrue during his appeal, adding potentially tens of millions of dollars in the process. His deadline is Monday, 3/25/24. In a court filing on Monday, Trump's lawyers urged a mid-level state appeals court to delay enforcement of the judgement, arguing the amount was excessive. It was unclear when the court, known as the Appellate Division, would rule. The lawyers asked that Trump instead be allowed to post a $100 million bond while he appeals the judgement.
3/20/24 Update: Filed: Appellate Division-1st Dept. by the State of NY Office of the Attorney General Letitia James sent by Dennis Fan, Sr. Assistant Solicitor General to Judge Susanna Molina Rojas, Supreme Court of NY. [proposed surreply to defendants’ motion for a stay pending appeal].
link: https://www.courthousenews.com/wp-content/uploads/2024/03/attorney-general-trump-bond-surety.pdf
3/21/24 Update: NY AG Letitia James registered the judgment on March 6, 2024 according to the Westchester County Clerk’s online database. The filing didn’t give a reason for the registration or identify any Trump assets, but it will allow James to more easily secure liens, should she decide to do so, on two of the real estate mogul’s most valuable properties: Trump National Golf Club Westchester & the mostly undeveloped 212-acre Seven Springs estate. Westchester County Clerk Tim Idoni said that filing the judgment in Westchester County effectively places a lien on Trump’s properties in the county.
3/21/24 Update: New York Judge Arthur Engoron, who oversaw Trump's civil fraud trial, imposed a monitor over the Trump Organization as part of a judgment that also required Trump to pay a nearly-half billion dollar penalty. Barbara Jones, a retired federal judge, has been overseeing the Trump Organization's finances since November 2022 as part of a preliminary injunction. She is now installed for the next three years. As part of the arrangement, the Trump Organization must open its books to Jones, who has also been given the ability to suggest court-ordered changes in how the Trump Organization operates. She must be notified about any large cash transfers, the creation or dissolution of assets, the restructuring of debt & "any efforts to secure surety bonds," according to Engoron's order issued Thursday.
 
tlcya said:
Live updates: Trump hush money case hearing, bond deadline in civil fraud case

so tired of this man being given his way. They shouldn't have given him an inch let alone a mile.
Click to expand...

Really this is such complete BS.

Why should Trump fear anything the courts tell him, when none of the dire warnings made to him seem to come to fruition?

He slithers out, again. Another loophole or something. Fani Willis screwing up the Georgia case.

Every single thing that leads to delay enables him to potentially become President and most everything gets dismissed then.

Breaking the judgment into manageable amounts takes the teeth out of the whole idea of him losing his financial empire.

Very frustrated.
 
So presumably this will allow the appeal to go forward and will allow time enough for the mysterious company to pay Trump $3.5 million to let him pay off the entire fine.

And walk away as if nothing had ever happened.
 
The huge reduction in the judgement is not a surprise.

Can he get any of these judgments reduced?​

It's not uncommon for the size of judgments, particularly high-dollar amounts, to be reduced on appeals.

The appeal in Trump's civil fraud case will go before an intermediate-level court first. If it returns an unfavorable ruling, Trump could try to get the case taken up by New York's top appellate court, though legal experts say that is unlikely.
Click to expand...
www.wbaltv.com

Trump's legal debts top a half-billion dollars. Will he have to pay?

The recent $355 million penalty comes on top of other judgments, including $88 million owed to the writer E. Jean Carroll for damaging her reputation after she accused him of sexual assault.
www.wbaltv.com www.wbaltv.com
 
Darn, darn, darn !
I just knew Trump would be gifted with an easy ride on his bond obligation. I am beyond frustration that Trump continues to receive special treatment and likely will never be imprisoned for his crimes. My faith and hope that justice would be served completely and swiftly has been totally destroyed thanks to the US government and our judicial system. This traitor Trump has become larger than life itself and it seems that yes, this one man is indeed above the law.
 
The only special treatment that President Trump has received in this case is spelled out in this AP article. JMO.

An Associated Press analysis of nearly 70 years of civil cases under the law showed that such a penalty has only been imposed a dozen previous times, and Trump’s case stands apart in a significant way: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses.
Click to expand...
apnews.com

Dissolving Trump's business empire would stand apart in history of NY fraud law

AP’s review of nearly 150 cases since New York’s “repeated fraud” statute was passed showed that nearly every previous time a company was taken away, victims and losses were key factors.
apnews.com apnews.com
 
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