Hearing Slated in Trump’s New York Civil Business Fraud Case

NEW YORK (NEWSnet/AP) — Donald Trump could learn Monday how New York state plans to collect over $457 million he owes in his civil business fraud case, even as he makes attempts to appeal the verdict.
After state Attorney General Letitia James won the judgment, Trump was given time to ask an appeals court for a reprieve from paying up.
That period ends Monday, and the AG's office has filed a legal notice required on the collection steps, though James could decide to allow Trump more time.
[Earlier Report: Donald Trump Appeals New York Civil Fraud Judgment]
The former president and currently top Republican party candidate has been trying to avoid having to post the required bond in order to hold off collection while he appeals, but courts so far have said no.
Trump’s debt stems from a months-long civil trial last fall over the state’s allegations that he, his company and top executives inflated his wealth on financial statements, conning bankers and insurers who did business with him. Trump and his co-defendants denied any wrongdoing, saying the statements actually lowballed his fortune, came with disclaimers and weren’t taken at face value by the institutions that lent to or insured him.
Engoron sided with the attorney general and ordered Trump to pay $355 million, plus interest that grows daily.
Some co-defendants, including his sons and company executive vice presidents, Donald Trump Jr. and Eric Trump, were ordered to pay far smaller amounts.
Under New York law, filing an appeal generally doesn’t hold off enforcement of a judgment. But there’s an automatic pause if the person or entity posts a bond that covers what’s owed.
The ex-president’s lawyers have said it’s impossible for him to do that. They said underwriters wanted 120% of the judgment and will not accept real estate as collateral.
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